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Cushman & Wakefield (NYSE: CWK) has acquired Pacific Commercial Realty Advisors (PACCRA), enhancing its presence in Central California and Idaho. The acquisition includes PACCRA's offices in Bakersfield, Fresno, Santa Clarita, and Boise. PACCRA has been an alliance member with CWK since 2012 and boasts over 40 experienced brokers specializing in various commercial real estate services. This strategic move aims to leverage PACCRA's expertise and provide expanded resources and services to clients, solidifying CWK's commitment to collaboration and innovation in the real estate sector.
Positive
Strategic acquisition of PACCRA enhances CWK's market presence in key regions.
PACCRA's expertise and established broker network will boost CWK's service offerings.
Increased resources for sales professionals and support staff through this acquisition.
Negative
None.
SAN FRANCISCO--(BUSINESS WIRE)--
Cushman & Wakefield (NYSE: CWK) announced that the firm has acquired the operations of long-time alliance member Pacific Commercial Realty Advisors (PACCRA) located in Central California and Idaho. The acquisition comprises PACCRA’s offices in Bakersfield, Fresno and Santa Clarita, California and Boise, Idaho.
“We are thrilled in having PACCRA join Cushman & Wakefield, which cements our long-term partnership with a shared vision and mission of collaboration, innovation and delivering exceptional value to our clients, while also enhancing our business in these markets,” said Dan Broderick, President of the West Region for Cushman & Wakefield. “PACCRA is a very talented and well-respected team of professionals who perform at a high level and importantly share in our values and culture of teamwork, drive, integrity and client success.”
PACCRA, an alliance member of Cushman & Wakefield since 2012, is owned and operated by partners Vincent Roche, Duane Keathley, Jeff Andrew and Wayne Kress and has over 40 brokers with exemplary expertise and deep roots in the markets they serve. The PACCRA team specializes in commercial real estate property of all types, including industrial, office, retail, hospitality, investment, land and multifamily, and has experience in a variety of service areas, including tenant representation, landlord representation, property disposition, buyer representation, valuation & consulting, financial management, property management and building operations.
“PACCRA is delighted by Cushman & Wakefield’s acquisition,” said Roche, PACCRA’s President. “Their interest is both a recognition of the strong performance of the markets we serve and a statement about their expectations for the future. At the same time, they provide our team of sales professionals and support staff best-in-class resources, greater access to clients, and a broader and deeper platform of services. As a unified team, we look forward to continuing to deliver value and impactful results for our clients and our people. This was very important to us.”
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
