Cushman & Wakefield plc Ordinary Shares - CWK STOCK NEWS

Merritt Properties has successfully acquired the Crescent Business Center in Ashland, Virginia, for $41.3 million. This strategic acquisition includes five Class A industrial buildings on ± 20 acres, plus an additional ± 19 acres for future development, addressing the high demand for warehouse space. With 100% occupancy and tenants like Trane U.S. and Sunbelt Rentals, the center is positioned in a strong industrial market with a 95% occupancy rate and a 10% rental income increase over the past year.

Cushman & Wakefield (NYSE: CWK) released its 2021 Environmental, Social and Governance (ESG) Report, showcasing commitments to sustainability and diversity. The firm aims for net zero emissions by 2050 and reports an 8.6% reduction in emissions from 2019 to 2021. Diversity metrics highlight that 40% of its workforce are women and 45% identify as racially or ethnically diverse. The report aligns with UN Sustainable Development Goals, enhancing transparency and accountability in its ESG initiatives.

Cushman & Wakefield (NYSE: CWK) has announced the acquisition of Burbage Realty Partners Limited (BRPL), a UK logistics consultancy, furthering its expansion in the growing logistics sector. Founded in 2017, BRPL specializes in services such as land strategy and investment advisory, primarily in the Midlands Grade A logistics market. The acquisition will enhance CWK’s capabilities and scale in the UK, adding experienced personnel and strengthening client relationships.

Cushman & Wakefield (NYSE: CWK) reported strong financial results for the first half and second quarter of 2022. The company achieved revenue of $4.9 billion and a net income of $142.7 million, both representing significant increases of 18% and 84% respectively compared to the previous year. Adjusted earnings per share rose to $1.10 from $0.61. Notably, Adjusted EBITDA increased by 49% to $477.1 million with a margin expansion of 240 basis points. The firm had a robust liquidity position of $1.6 billion as of June 30, 2022, supporting its growth strategy.

Cushman & Wakefield (NYSE: CWK) and Keystone Development have signed three significant leases with Lighthouse Immersive, Impact Museums, the GSA, and Ace American Insurance Company at The Washington. This brings occupancy levels above 90%. Lighthouse and Impact Museums will utilize 31,718 square feet, creating an immersive experience for Philadelphia's visitors, while GSA leases 31,217 square feet. Additionally, Ace American Insurance renewed its 140,585-square-foot lease, and the building will now be powered entirely by renewable energy through ENGIE Resources.

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.