Brokers Pocket Seven-Figure Signing Bonuses from Rival Firm

The battle for top brokers continues between Cushman & Wakefield and CB Richard Ellis. The latest skirmish occurred last month in Philadelphia, where four of Cushman’s top investment sales brokers left to join CBRE. Big names, of course, mean big money. Three of the brokers received $1 million signing bonuses, while the fourth broker was given a $500,000 signing bonus to join the firm, according to an anonymous source. Three of the brokers had earned spots on Cushman & Wakefield's coveted Top 100 producer list for 2003. CB Richard Ellis credits the high-grossing quartet with more than $6 billion worth of transactions over the past decade. A CB Richard Ellis spokesman denied that $1 million signing bonuses were paid, saying that they were actually much lower. He would not specify the amount the firm paid out, citing confidentiality agreements Less than a month after the four brokers arrived at CBRE, an incumbent broker from CBRE’s Philadelphia office left to go toCushman & Wakefield. A 27-year industry veteran, James Sheehan joined Insignia/ESG in 1995. In his tenure with Insignia — now CBRE — Sheehan worked on $750 million worth of deals.

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