C&W Houston Brokers Garner Texas Association Of Realtors' 2004 William C. Jennings Award

22 Feb, 2005, Houston, TX

John M. Talhelm, SIOR, senior director, and Kevin A. Erck, associate director, with Cushman & Wakefield of Texas, Inc. have been awarded Texas Association of Realtors' (TAR) 2004 William C. Jennings Award for Panalpina, Inc.'s Houston regional headquarters project. The winner was announced yesterday, Monday, February 21, at TAR's annual awards luncheon in Austin, Texas.

Also known as the Lone Star Award, the honor recognizes the year's best commercial transaction. TAR solicits award nominations from brokerage firms and professionals from around the state. Each entry is judged based upon the "merits of the transaction, creativity, and application of commercial principles and practices." (source: www.tar.com)

Panalpina, one of the world's leading providers of forwarding and logistics services, retained Messrs. Talhelm and Erck in 2000 to lead the multi-assignment project. The project took four years to complete and culminated into Panalpina's 410,000-square--foot, state-of-the-art, office/warehouse facility located at 19409 Kenswick Road in the Houston Intercontinental Trade Center. The project consolidated Panalpina's air freight forwarding operations with its ocean freight packaging group.

Panalpina's assignment introduced a unique set of challenges for the C&W team. The team was responsible for a four-step process. They acquired a 50-acre site, selected a developer, negotiated leases, and sold Panalpina's existing facility located at 18600 Lee Road, which became the main deal driver, and at times near deal breaker, of Panalpina's build-to-suit assignment.

Panalpina moved into the facility July 1, 2004. The transaction represents the first major project in the Houston Intercontinental Trade Center and the largest single-tenant building to be constructed in Houston in the last seven years.

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Cushman & Wakefield is the world's largest privately held real estate services firm. Founded in 1917, the firm has 173 offices in 48 countries around the globe, and 11,000+ talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. We also provide valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, please call 1-800-376-3133.

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