Cushman & Wakefield Named Preferred Strategic Advisor for UTC's North American Portfolio
12 Oct, 2010, New York
Cushman & Wakefield's Global Client Solutions group today announced it has been awarded the preferred provider contract by United Technologies Corp. (NYSE: UTX). Under the agreement, Cushman & Wakefield will assume responsibility for the delivery of integrated services including transaction management, project management, and strategic advisory services for UTC's entire North American real estate portfolio consisting of approximately 52 million square feet of commercial building space and 1,600 properties.
"We are delighted to leverage the full spectrum of Cushman & Wakefield's globally integrated service platform as we continue to drive value from our North American real estate assets," said Stephen Forino, UTC's Director of Global Real Estate. "Our new relationship with Cushman & Wakefield's Client Solutions team enables UTC to take advantage of standard processes, best practices and leading edge tools and technology to deliver meaningful advice, cost synergies and savings for our business units."
"Cushman & Wakefield's Global Client Solutions team is excited and proud to be handling this important assignment for UTC," said Bruce Ficke, executive vice president of Cushman & Wakefield's Client Solutions group. "Our investment and focus on servicing Fortune 500 clients has elevated our Global Clients Solutions group to the fastest growing and largest business unit in the company. To be recognized by UTC, one of the most respected corporate occupiers worldwide, constitutes a major milestone in Cushman & Wakefield's business strategy."
"We are extremely pleased that UTC has selected Cushman & Wakefield to deliver an integrated service offering across the management of its large-scale, enterprise level portfolio," said Mark Wanic, Senior Managing Director for Cushman & Wakefield and relationship manager for the UTC account. "As we continue to invest in our Global Client Solutions platform, our cross-functional team of seasoned professionals remains poised, focused, and highly capable of handling the real estate needs of large occupiers like UTC. We look forward to implementing our strategic platform to identify opportunities that achieve synergies and optimize the full value of UTC's world class portfolio."
In addition to UTC, Cushman & Wakefield's clients include many of the world's largest corporations and institutional investors. The group provides property, facilities, project and transaction management, agency leasing and lease administration services to corporate occupiers and investors in commercial real estate worldwide.
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