Cushman & Wakefield plc Ordinary Shares - CWK STOCK NEWS

Cushman & Wakefield (NYSE: CWK) announced the promotions of Marla Maloney to President, Americas Services and Dan Broderick to President, Americas Advisory, effective August 1, 2022. Both executives will report to Andrew McDonald, the firm’s President. Maloney will manage Asset Services, Valuation & Advisory, and Project & Development Services, while Broderick will oversee brokerage services across North and South America. Under their leadership, the firm aims to strengthen growth planning, client service, and talent development, enhancing value for clients and employees.

Cushman & Wakefield (NYSE: CWK) announced the approval of its net zero greenhouse gas (GHG) emissions target by the Science Based Targets initiative (SBTi), aiming for 2050. The firm is among the first to gain this approval under the new Net-Zero Corporate Standard. It plans to reduce scope 1 and 2 GHG emissions by 50% by 2030 from 2019 levels. Additionally, CWK has committed to engaging clients representing 70% of its scope 3 emissions by 2025, working towards a 90% reduction in GHG emissions by 2050.

Liberty Development Partners, in collaboration with Connor Investment Real Estate and Logistics and Development Resources, has acquired CMC Railroad and Gulf Inland Logistics Park, a 1,158-acre rail-served industrial property in Houston. The acquisition, which is backed by a $66.5 million loan from Trez Capital, will facilitate the park's development into a significant logistics hub, potentially creating over 5,000 jobs and attracting $1 billion in private investment. Cushman & Wakefield is managing the marketing and advisory services for this project.

Cushman & Wakefield (NYSE: CWK) advised on the sale of Ford Point, a historic R&D asset in Richmond, California, for $103.7 million. The property, measuring 478,761 square feet and 83% leased, was acquired by Madison Capital and Meadow Partners from Orton Development. The site, recognized for its historical significance, has seen over $51.3 million in renovations since Orton's purchase in 2004. Madison plans to enhance the site further, addressing the demand for premium R&D space in the Bay Area.

Cushman & Wakefield (NYSE: CWK) will release its second quarter 2022 financial results on August 4, 2022, after market close at 4:05 p.m. EDT. Following the release, a conference call will be held at 5:00 p.m. EDT to discuss the results. Investors can join through a phone dial-in or access a live webcast via the company’s investor relations website. In 2021, Cushman & Wakefield reported revenue of $9.4 billion across key services encompassing property management, leasing, and capital markets.

Cushman & Wakefield (NYSE: CWK) has successfully facilitated the sale of Colony Woods, a 414-unit multifamily property in Birmingham, Alabama, for $71.4 million. The sale, represented by Andrew Brown and Craig Hey, involved the seller, Forum Investment Group, and the buyer, Arcan Capital. At the time of sale, the property was 96% leased and is located in a high-traffic area, enhancing its investment potential. Recent rent growth and high occupancy levels in suburban Birmingham are favorable factors for the new ownership.

Cushman & Wakefield (NYSE: CWK) has appointed Mia Mends as the new Chief Executive of C&W Services, effective immediately. Mends, who previously held senior roles at Sodexo, will oversee operations across the U.S., Canada, and Puerto Rico, leading a team of nearly 13,000 employees. She succeeds Paul Bedborough, who is retiring. Mends brings extensive experience, including roles focused on diversity and inclusion. Her appointment aims to drive strategic growth and enhance service delivery across various industries.

Pupil, a spatial data company, has formed a strategic partnership with Cushman & Wakefield (NYSE: CWK), enhancing digital measurement capabilities in real estate. The collaboration will leverage Pupil’s technology to create digital floor plans and twins for properties globally. Pupil has secured $45 million funding, focusing on international growth. Cushman & Wakefield will use Pupil’s products to improve service delivery. This partnership marks a significant milestone in Pupil's development, indicating strong investor confidence and potential market expansion.

Cushman & Wakefield (NYSE: CWK) has successfully secured $50 million in programmatic joint venture equity for the Epum Marina Partners Fund, focusing on marina acquisition across the Northeast, Great Lakes, and Mid-Atlantic. The advisory was led by a team including Steve Michels and Jared Kelso. The marina sector is highlighted as a lucrative investment opportunity, particularly for properties with over 100 slips. This strategic partnership aims to enhance value in a niche real estate asset class.