Cushman & Wakefield Alliance Adds Continental Realty Of Columbus, Ohio
1 May, 2006, New York, NY
Cushman & Wakefield has enhanced its coverage through its national Alliance program with the addition of Continental Realty in Columbus, Ohio, a major industrial hub.
Continental Realty is one of the largest commercial brokerage companies in Central Ohio, with 18 full time real estate brokerage professionals and 28 full time employees in various support areas.
As part of the agreement, Continental Realty joins the Cushman & Wakefield Alliance program, an association of 19 leading regional commercial real estate firms in strategic U.S. markets. On a global basis, Cushman & Wakefield operates in 192 offices in 58 countries.
“Columbus is a key market for us, and Continental is a dynamic firm that will be a tremendous Alliance partner,” said Dave Lawton, executive managing director of the Cushman & Wakefield Alliance. “Our clients are active in the Columbus area, so this is a timely and important move for us.”
“Joining the Cushman & Wakefield Alliance is a terrific move for Continental and our clients,” said Larry Ritter, president and CEO of Continental. “Cushman & Wakefield’s national and global reach and its highly regarded brand name are major pluses for us in the marketplace.”
Columbus is the largest city in Ohio and its six county metropolitan area has a population of 1.5 million. The city is the state capital and home to Ohio State University, which has the largest campus enrollment in the U.S. Columbus is among the more economically stable metropolitan areas, and is one of just a handful of cities in the northeast quadrant of the nation whose economy and population grew steadily through the last three decades of the 20th Century.
Several major U.S. corporations maintain their corporate headquarters in Columbus, including Cardinal Health, Limited Brands, Nationwide Insurance, and Wendy’s International. The total office market has an existing inventory of 77 million square feet with a vacancy rate of 12.6 percent.
Columbus is located within 550 miles of more than half the population of the U.S. As a result, the Columbus market has grown to be a major distribution center. There is an existing inventory of 220 million square feet with an 11.4 percent vacancy. Major industrial tenants include Cardinal Health, American Standard, Excel Logistics, Red Envelop, Petsmart, Whirlpool and the Gap.
Continental Realty has prospered by developing a team of real estate professionals with expertise in all aspects of commercial brokerage including office, industrial, retail and investment sales. Its services include tenant representation, market research, land acquisition, contract negotiation and the full range of property management.
In 2005, Cushman & Wakefield negotiated the purchase and sale of more than $35 billion in commercial real estate office sales, making it one of the top performers throughout the world. The firm completed transactions with a total aggregate value of $69 billion in 2005. The firm also manages 430 million square feet of commercial real estate globally and employs the most MAI-designated appraisal professionals of any firm in the industry.
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.