Seven Brokers Expand Cushman & Wakefield's Mid-Atlantic Leasing and Sales Group

15 Oct, 2010, Baltimore

Cushman & Wakefield (C&W), the world’s largest privately-owned commercial real estate services firm, announced today that the talented and established brokerage team from Preston Partners, Inc. is joining its Baltimore-Washington transaction services group. Seven experienced sales and leasing agents from the Columbia and Lutherville offices of Preston Partners will transition this week to C&W.

Michael A. Elardo, SIOR, E. Hayes Merkert, SIOR, Danielle K. Schline, Christopher P. Wright, Brian N. Kruger and Jonathan Casella, will join the Baltimore office at 500 E. Pratt St., while Jeffrey R. Pacy will reside in C&W’s Bethesda location at 7475 Wisconsin Ave.

The addition of these real estate professionals with expertise in office, industrial and flex markets will supplement C&W’s strong Baltimore-Washington transaction team and bring greater coverage and service to the region’s tenants and landlords.

“We are excited to be bringing this proven and respected team of brokers to Cushman & Wakefield,” said Jim Underhill, executive vice president and area leader for the Mid-Atlantic and New England regions. “They have excellent client relationships, a track record of being among the top producers in the market and will fit very well in the team culture of Cushman & Wakefield.”

“I am very proud of our efforts over the past twenty years building a strong brokerage firm. We accomplished much, but in order to go to the next level, we feel that merging with Cushman was the final piece, and in the best interests of allowing the brokers to execute business on a broader scale,” said David P. Scheffenacker, Jr., founder and president of Preston Partners, Inc., and related companies Preston Capital Management and Preston Financial, Inc. “Cushman is a blue-chip firm and I am delighted that we saw the value in each other’s enterprises.”

Preston will continue as a strong regional development company known as Preston Scheffenacker Properties.

“We felt that aligning our superb market presence, particularly in the Baltimore-Washington Corridor, with Cushman’s global scope was the absolute perfect match,” said Elardo, managing senior director of industrial brokerage for C&W’s Baltimore office. “We will be very well-positioned as the market continues to rebound in 2011.”

“This marks another significant step in C&W’s continued growth in meeting the commercial real estate needs of the Maryland market,” said David Baird, senior managing director of C&W’s

Baltimore office. “Combining their talents, experience and leadership skills with C&W’s platform will deliver significant results to our clients,” continued Baird.

For further information, please contact Jim Underhill, Executive Vice President and Area Leader for the Mid-Atlantic, at 202-739-0377.

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