Cushman & Wakefield
Professional services
UnclaimedA global commercial real estate services firm providing advisory, transaction, property, facilities, project and valuation services.
Last updated October 13, 2026
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Overview
Cushman & Wakefield is a global commercial real estate services firm headquartered in Chicago, Illinois. Its business spans occupier and investor advisory, leasing, capital markets, valuation, property management, facilities management, project and development services, and related workplace and real estate consulting. The company serves owners, occupiers, investors, developers, lenders, public-sector organizations and other institutions across major property markets. The business was founded in New York City on October 31, 1917, by brothers-in-law J. Clydesdale Cushman and Bernard Wakefield. It expanded beyond its original New York base during the 1960s as it established offices across the United States. The company later developed through a succession of ownership changes, international expansion, acquisitions and partnerships. RCA acquired Cushman & Wakefield in 1969, and The Rockefeller Group acquired RCA's interest in 1976. Mitsubishi Estate became the majority shareholder of The Rockefeller Group in 1989. Cushman & Wakefield established a European presence through the 1990 acquisition of Healey & Baker, a British real estate firm with roots dating to the early twentieth century. A worldwide partnership structure was created in 1994, linking the brand with real estate services firms in the United States, Europe, Asia, South America, Mexico and Canada. The 2001 acquisition of Cushman Realty Corporation strengthened the company's position in the western and southwestern United States and brought members of the Cushman family back into senior leadership. The company changed control again in 2007, when IFIL, now known as EXOR, acquired approximately 70 percent of the business. During that period Cushman & Wakefield expanded its investment-banking and advisory capabilities through acquisitions including Sonnenblick Goldman, Semco and Alston Nock. In 2015, DTZ agreed to acquire Cushman & Wakefield for approximately $2 billion, and the two businesses completed their merger on September 1, 2015. The combined company continued to operate under the Cushman & Wakefield name, with a majority stake held by an investor group led by TPG, PAG Asia Capital and Ontario Teachers' Pension Plan. The merged company subsequently expanded through acquisitions, alliances and regional appointments. It sold its Business Integration Group workplace-management software subsidiary to Accruent in 2016, formed an alliance with Chaney Brooks in Hawaii and Guam in 2017, and acquired substantially all holdings of Triad Commercial Properties in 2020. Cushman & Wakefield listed on the New York Stock Exchange on August 2, 2018, after filing with the U.S. Securities and Exchange Commission earlier that year. According to cited 2023 reference material, Cushman & Wakefield generated approximately $9.5 billion in revenue, operated about 400 offices in 60 countries, employed roughly 52,000 people and managed approximately 5.1 billion square feet of commercial space. Its market position is based on combining global scale with local market knowledge and serving the investment, ownership, development, leasing, operation and workplace lifecycle of real estate.
History
Cushman & Wakefield began in New York City on October 31, 1917, when brothers-in-law J. Clydesdale Cushman and Bernard Wakefield established the firm that would carry their names. The company initially developed as a real estate brokerage and advisory business and later broadened its capabilities as commercial property ownership, leasing and investment became more institutionalized. During the 1960s, the firm pursued national expansion across the United States. RCA acquired it in 1969, while The Rockefeller Group acquired RCA's interest in 1976. Mitsubishi Estate became the majority shareholder of The Rockefeller Group in 1989. These ownership changes provided access to larger corporate and international networks while the firm continued operating under the Cushman & Wakefield identity. International growth accelerated in 1990 with the acquisition of Healey & Baker, a British real estate firm. Healey & Baker traced its origins to George Healey's property activities near Regent's Park and later developed a commercial-property focus under George Henry Baker. In 1994, Cushman & Wakefield created a worldwide partnership structure with affiliated real estate services firms across North America, Europe, Asia, South America and other markets. The company strengthened its U.S. platform in 2001 by acquiring Cushman Realty Corporation. The transaction expanded its coverage in the West Coast and Southwest and returned John C. Cushman III and Louis B. Cushman to the organization founded by their grandfather and great-uncle. In 2002, the Cushman & Wakefield Alliance Program was introduced to extend service coverage in U.S. markets without company-owned offices. In 2007, IFIL, subsequently known as EXOR, acquired approximately 70 percent of Cushman & Wakefield and became its majority shareholder. The company also expanded its advisory platform through acquisitions including Sonnenblick Goldman, Semco and Alston Nock. In 2015, DTZ, backed by TPG, PAG Asia Capital and Ontario Teachers' Pension Plan, agreed to purchase Cushman & Wakefield for approximately $2 billion. The DTZ transaction closed on September 1, 2015, creating a larger global commercial real estate services company that retained the Cushman & Wakefield brand. After the merger, the combined organization reported a broader international footprint, a larger employee base and significant property and transaction volumes. In 2016 it sold Business Integration Group, a provider of integrated workplace management software and professional services, to Accruent. In 2017, Chaney Brooks became an alliance partner, extending the brand's reach in Hawaii and Guam. Cushman & Wakefield filed its S-1 registration statement in June 2018 and listed on the New York Stock Exchange on August 2, 2018. The company continued to expand through regional alliances, acquisitions and hiring. In 2020, it acquired substantially all holdings of Triad Commercial Properties and appointed Tom Townes and Hap Royster to leadership roles associated with the transaction. It also appointed Chris Cuff as regional executive director of commercial leasing in Singapore. The company became involved in a politically sensitive legal and commercial dispute involving the Trump Organization. In 2021, after the January 6 attack on the U.S. Capitol, Cushman & Wakefield ended its business ties with the Trump Organization and asked Fred Trump III to leave the firm. In 2022, a court held the company in contempt for failing to comply with subpoenas seeking documents related to the Trump Organization. The matter is one of the principal controversies associated with the company in the cited reference material. By 2023, the company was described as operating approximately 400 offices in 60 countries, employing around 52,000 people and managing roughly 5.1 billion square feet of commercial space. Its modern business combines transactional services, property and facilities operations, valuation, capital markets, project delivery, workplace advice and strategic consulting.
- 2020
Triad Commercial Properties transaction
[1]Cushman & Wakefield acquired substantially all holdings of Triad Commercial Properties; Tom Townes became managing director and Hap Royster became vice chairman in connection with the combined operation.
- 2018
New York Stock Exchange listing
[1]Cushman & Wakefield listed its shares on the New York Stock Exchange on August 2, 2018, under the ticker CWK, after filing an S-1 registration statement in June 2018.
- 2017
Chaney Brooks alliance
[1]Chaney Brooks became an alliance partner, extending the brand's reach in Hawaii and Guam.
- 2016
Business Integration Group sold
[1]The company sold its workplace-management software and services subsidiary to Accruent.
- 2015
DTZ merger completed
[1]DTZ and Cushman & Wakefield completed their merger on September 1, 2015, and continued under the Cushman & Wakefield brand.
- 2007
EXOR becomes majority shareholder
[1]IFIL, now known as EXOR, acquired approximately 70 percent of the company.
- 2002
Alliance Program launched
[1]The Cushman & Wakefield Alliance Program extended service coverage to markets without company-owned offices.
- 2001
Cushman Realty Corporation acquired
[1]The acquisition strengthened the company's West Coast and Southwest U.S. presence and brought members of the Cushman family back into senior leadership.
- 1994
Worldwide partnership established
[1]The firm created a worldwide partnership with real estate services companies in the United States, Europe, Asia, South America, Mexico and Canada.
- 1990
European expansion through Healey & Baker
[1]Cushman & Wakefield established a European presence by acquiring Healey & Baker, a British real estate firm with roots dating to the early twentieth century.
Products and positioning
A top-tier, full-service global commercial real estate services provider serving institutional owners, occupiers, investors and developers.
Occupier advisory
Global occupier services
Services for corporate and institutional occupiers include portfolio strategy, location advice, transaction management, lease administration, workplace strategy and related real estate planning. The offering is designed to help organizations align property decisions with operating requirements across multiple markets.
Brokerage
Leasing services
Cushman & Wakefield advises landlords and tenants on the leasing of office, industrial, retail and other commercial properties. The service includes marketing, tenant representation, landlord representation, negotiations, renewals and broader market intelligence.
Investment advisory
Capital markets
Capital markets professionals advise property owners, investors and developers on acquisitions, dispositions, recapitalizations, financing and investment strategy. The platform is supported by transaction expertise and market analysis across major commercial real estate sectors.
Real estate operations
Property management
Property management services cover the day-to-day operation and administration of commercial assets. Depending on the engagement, the work can include tenant relations, budgeting, vendor coordination, building performance, reporting and asset-level operating oversight.
Facilities management
Facilities and workplace management
Facilities and workplace services support the physical operation of occupied properties and the employee experience within them. They may include maintenance coordination, workplace operations, space planning, service delivery and performance management for occupier portfolios.
Project management
Project and development services
Project and development professionals assist clients with capital projects, renovations, development programs and delivery oversight. Typical responsibilities include planning, procurement, cost and schedule control, risk management and coordination among project stakeholders.
Valuation
Valuation and advisory
Valuation and consulting services provide opinions and analysis concerning the value, performance and strategic position of commercial real estate. Clients may use this work for investment decisions, financing, financial reporting, taxation, portfolio review or litigation support.
Controversies
2022
Contempt of court over Trump Organization subpoenas
A court held Cushman & Wakefield in contempt for failing to comply with subpoenas seeking documents related to the Trump Organization.
2021
Termination of Trump Organization relationship
After the January 6 attack on the U.S. Capitol, Cushman & Wakefield ended business ties with the Trump Organization and asked Fred Trump III to leave the firm. The company had previously handled leasing for several Trump Organization properties.
Marketing campaigns
- 2002Cushman & Wakefield Alliance Program
United States
The Alliance Program used relationships with external real estate firms to extend Cushman & Wakefield service capabilities into U.S. markets where the company did not maintain owned offices, broadening geographic coverage through an alliance model.
Outcome. Broadened geographic coverage through an alliance model.
Brand decisions
2021
End Trump Organization business relationshipStrategyBackground
The decision followed the January 6 attack on the U.S. Capitol; the company had previously handled leasing for several Trump Organization properties.
Action taken
Cushman & Wakefield cut business ties with the Trump Organization and asked Fred Trump III to leave the firm.
Aftermath
The decision was followed by litigation and a later court dispute over subpoenas for documents connected with the Trump Organization.
2020
Acquire Triad Commercial Properties holdingsM&ABackground
Cushman & Wakefield sought to expand its regional commercial real estate platform.
Action taken
The company purchased substantially all holdings of Triad Commercial Properties.
Aftermath
Tom Townes became managing director and Hap Royster became vice chairman in connection with the combined operation.
2018
Pursue public-company listingStrategyBackground
Cushman & Wakefield filed an S-1 registration statement with the U.S. Securities and Exchange Commission in June 2018.
Action taken
The company listed on the New York Stock Exchange on August 2, 2018, under the ticker CWK.
Aftermath
The listing made Cushman & Wakefield a publicly traded commercial real estate services company.
2015
Approve merger with DTZM&ABackground
DTZ agreed to acquire Cushman & Wakefield in a transaction backed by TPG, PAG Asia Capital and Ontario Teachers' Pension Plan.
Action taken
The transaction was completed on September 1, 2015, and the combined business retained the Cushman & Wakefield name.
Aftermath
The merger created a larger global commercial real estate services platform with expanded personnel, revenues and managed property coverage.
Transaction value. Approximately US$2 billion acquisition price (2015)
Sources2 sources
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