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Cushman & Wakefield appointed as a GlaxoSmithKline global real estate advisor
27 Jul, 2007, London
GlaxoSmithKline (GSK) has selected Cushman & Wakefield and Jones Lang LaSalle as its global real estate service providers. GSK undertook a full selection process advised by corporate property advisers. DTZ and Equis were not reappointed and Cushman & Wakefield will work alongside Jones Lang LaSalle which was retained in all three regions.
Cushman & Wakefield and Jones Lang LaSalle will jointly provide real estate transaction services for its approximately seven million square metre portfolio, which includes both owned and leased office, logistics and manufacturing accommodation across the Americas, Asia Pacific and EMEA. Services may also include consulting, project management, design and other professional services as well as the management of vacant and sub-let properties.
Richard Evans, director of global real estate at GSK commented: "We wanted to re-examine the way our real estate service providers support us worldwide and felt that a two provider model working with genuinely global providers offers us the best combination of coverage and collaboration and choice for our business".
Tom Bayne-Jardine, director and client relationship manager for the account at Jones Lang LaSalle said: "GSK is a long standing core account for Jones Lang LaSalle that has increasingly operated globally over the last few years. The move to two providers should allow us to better support the GSK team and to take the account to the next level".
Jonathan Steel, partner and GlaxoSmithKline account manager, Cushman & Wakefield said: "GSK is a market leader in its field and we look forward to a long partnership to help deliver its global real estate strategy. Our new way of collaborative working with JLL and GSK will set an industry benchmark."
GlaxoSmithKline is one of the world’s leading research-based pharmaceutical and healthcare companies with an estimated seven per cent of the global pharmaceutical market.