Cushman & Wakefield Names Gil Medina To Top New Jersey Post

9 Aug, 2005, East Rutherford, N.J.

Former New Jersey Secretary of Commerce Takes Inside Track to Top Position at Global Real Estate Firm's Third-Largest Office Worldwide

Medina Vows Renewed Focus, Alignment with State's Economic Development Attributes

Cushman & Wakefield, the world's largest privately held commercial real estate services company, today named Gualberto (Gil) Medina as executive managing director and head of its New Jersey offices.

The company's New Jersey offices, headquartered in East Rutherford with branches in Parsippany and Edison, represent the firm's third-largest region worldwide based on 2004 revenue.

Mr. Medina, known as "Gil" to friends and colleagues in New Jersey real estate and political circles, is a former secretary of commerce for the State of New Jersey. He joined Cushman & Wakefield in 2002 as a director to lead its fast-growing Technology Enterprise Group, which specializes in providing comprehensive real estate services to government, private and academic research organizations and corporations.

The announcement, made today in Newark, ends a six-month search for a replacement for Christopher Kinum, who led the company's New Jersey offices for more than three years. Mr. Kinum, who helped drive the New Jersey offices to record revenues, will return to brokerage services in the firm's Technology Enterprise Group, which he formed with Mr. Medina in 2002.

"New Jersey has had explosive economic growth and harbors enormous untapped potential," said Tony Marano, Cushman & Wakefield's chief operating officer, who made the announcement at the New Jersey Performing Arts Center in front of senior Cushman & Wakefield brokerage professionals and prominent guests from the public and private sectors.

"There is no one better positioned to oversee Cushman & Wakefield's business development drive in The Garden State than Gil Medina," Mr. Marano added. "His background and expertise in attracting business to New Jersey and his facility with navigating the legal aspects of business and tax incentives make him an excellent partner for New Jersey businesses and the state economy."

An attorney and CPA, Mr. Medina is well known in the state for his role in planning and implementing business climate and organizational reforms that dramatically improved New Jersey's economy under the Whitman Administration.

"Gil was the point-person in my administration in forging economic development policies that today constitute the core business attraction and retention programs for the State of New Jersey," said former Governor Christine Todd Whitman in a letter to Mr. Marano.

According to former Governor James Florio, who also wrote to Mr. Marano on the occasion of the announcement, "Gil understood that commitment to the people of New Jersey had precedence over partisan politics. As a consequence, he reached out to leaders of all parties to advance the economic welfare of the State of New Jersey. I believe that Gil will bring his passion and inclusiveness to his new role as Executive Managing Director, and I wish him and Cushman & Wakefield much success."

Medina's work, in his various professional capacities, has resulted in below-market-interest-rate and incentives benefits totaling more than $1 billion. He personally has conducted complex negotiations that brought major relocations and expansions to New Jersey.

"The role of the real estate services provider is changing," Mr. Medina said. "Clients today are looking for us to provide more than real estate solutions. They want us to be strategic advisors who make a positive impact on their businesses. The Our entire process hinges service delivery process is predicated on us on having a thorough understanding of our customers' business model knowing our customers inside and out - their corporate philosophies, their operations and their goals. As such, the skills needed to succeed are much more sophisticated than ever before. And we're committed to providing the talent and training needed to make Cushman & Wakefield the best in the business."

Mr. Medina's involvement in governmental and business organizations also is extraordinary. He serves on the Small Business Administration's National Advisory Council, and is a trustee on the boards of Prosperity New Jersey, Puerto Rico Science Technology and Research Trust, Urban Land Institute's New Jersey District Council and an advisor the Trustees of the Biotechnology Council of New Jersey. He is an advisor to the New Jersey Technology Council and the New Jersey Commerce and Economic Growth Commission, among others.

During 2005 and 2006, Cushman & Wakefield of New Jersey expects to grow by more than 60 staff members. An aggressive recruiting campaign now underway is targeting professionals with diverse backgrounds, including high-level industry veterans, energetic newcomers and everything in-between. To accommodate the anticipated growth, Cushman & Wakefield recently relocated into larger offices in Iselin and plans are underway for an expansion this fall in East Rutherford as well.

"Exciting changes are in the works here, and I am thrilled to be part of the team that will move Cushman & Wakefield ahead and make positive contributions to the New Jersey business community," Mr. Medina said.

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Cushman & Wakefield is the world's largest privately held real estate services firm. Founded in 1917, the firm has 175 offices in 50 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. C&W also provides 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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