Seeking to expand its presence beyond what Cushman & Wakefield President of U.S. Operations Bruce Mosler calls "24-7 core central business district marketplaces," the real estate services firm has announced the expansion of its Alliance Initiative to the Midwest.
The move encompasses Northstar Partners of Minneapolis, Summit Realty Group of Indianapolis, Kessinger Hunter of Kansas City and Cincinnati Commercial Realty. Previously, the alliance consisted of five offices in the Southeast and one in San Diego.
Each firm included in the alliance retains its local identity, but is contracted and branded as a member of the group. Although Cushman does not have an equity stake in any of the offices, the local firms will be given access to the national firm’s research, technology and marketing tools.
According to Mosler, the program’s move to the heartland will grow Cushman & Wakefield’s industrial distribution capability. In addition, the alliance represents an opportunity "to increase our distribution platform in secondary cities where we choose not to establish our own presence, but grow it with the best-in-class firms that want to be a part of, and want to be integrated into, the Cushman & Wakefield platform," he says.
Derrick Banks Mashore, chairperson of the alliance, added that the alliance program will grow to the West, in only five or six more markets. "This is not intended to be anything but a reflection of Cushman & Wakefield — a small, quality operation," he says, declining to identify specific markets.
The company’s expansion into the Midwest occurs in tandem with a makeover of its downtown Chicago office, including the appointment of Mike McKiernan, previously of Grubb & Ellis, as senior managing director and branch manager.