Cushman & Wakefield Acquires Leading Brokerage Firm In San Diego
18 Apr, 2006, Los Angeles, CA
Long-Time Alliance Partner Joins Cushman & Wakefield's Global Operations
Cushman & Wakefield today announced that it has acquired San Diego Corporate Real Estate Advisors, a long-time member of the Cushman & Wakefield Alliance and a leading brokerage firm in the San Diego area.
The acquisition brings together two major real estate services firms in the Southern California region and creates a powerful platform to offer a superior level of service to the increasingly complex business needs of clients. The operation will serve as the San Diego branch office of Cushman & Wakefield.
"The San Diego real estate market has seen tremendous growth in the past few years," said Andrew D. Ratner, Cushman & Wakefield's executive managing director and West Coast regional director. "Cushman & Wakefield is committed to servicing this dynamic and expanding market and is excited to have a strong presence in the area through such a well-established industry leader."
Cushman & Wakefield is the world's pre-eminent real estate services firm. The firm had revenues of $1.2 billion in 2005, and is a leader in all its businesses. Cushman & Wakefield negotiated leases and sales with an aggregate value of $69 billion last year. The firm manages 430 million square feet, and is one of the largest property managers in the world. In 2005, the firm negotiated the sale and purchase of $35 billion of commercial property. Cushman & Wakefield's valuation group has the most MAI (Members of the Appraisal Institute) certified professionals of any firm in the industry.
San Diego Corporate Real Estate Advisors was formed in 2001 by Stephen Rosetta, former Cushman & Wakefield senior director. Under the leadership of Mr. Rosetta, the firm grew its business operations by more than 500 percent. Today, the acquired firm is one of the leading brokerages in San Diego, with a team that includes 16 brokers with an average tenure of 13 years in the industry.
The firm provides strategic and innovative occupancy-related real estate solutions designed to enhance the clients' core business performance. A widely-recognized industry leader in the San Diego area, the acquired firm has an impressive roster of clients that includes Fish & Richardson, Nokia, Siemens, and HP. The firm has also established strong and successful relationships with such property owners as Arden Realty, Kilroy Realty Corporation, Equity Office Properties, The Irvine Company, Hines, The Shidler Group, RREEF and others.
Cushman & Wakefield recently bolstered its San Diego operations by adding three top industry professionals to its valuation services group: Lance W. Dore, Brian J. Curry and D. Matt Marschall. The trio are spearheading the development of three new national appraisal practices: agribusiness, energy and master-planned communities groups.
"This move will allow us to provide an even greater level of service and opportunities to our clients," said Mr. Rosetta, the newly-appointed executive director and managing broker of Cushman & Wakefield's San Diego branch. "For Cushman & Wakefield it's a great opportunity to solidify its presence in Southern California and expand the existing and potential client base in the San Diego area. For the acquired firm the merger opens up enormous opportunities and the advantage of leveraging the extensive resources and experience of a global firm."
Cushman & Wakefield is the world's largest privately held real estate services firm. Founded in 1917, the firm has 189 offices in 57 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.