Cushman & Wakefield plc Ordinary Shares - CWK STOCK NEWS

Cushman & Wakefield (NYSE: CWK) has successfully acted as the exclusive advisor to SL Green Realty Corp. and its joint venture partner, securing $360 million for refinancing 100 Park Avenue, a 903,000-square-foot, LEED Gold-certified office property in Midtown Manhattan. The financing was provided by Aareal Capital Corporation. The property maintains 95%+ office collection rates, even during the COVID-19 pandemic, highlighting its strong tenancy and appeal due to its prime location near Grand Central.

Cushman & Wakefield (NYSE: CWK) facilitated the $65.5 million sale of Harbor Pointe, a 344-unit apartment complex in Mount Pleasant, South Carolina. The transaction involved the seller, The Crotts Group, and the buyer, Audubon. Harbor Pointe, built in 1987, is strategically located near over 98,000 jobs and major economic hubs, presenting significant future rental growth potential. The property spans 32 acres and has opportunities for capital infusion to increase rents by over $300 per unit, reflecting the area's competitive market with high barriers to entry.

Cushman & Wakefield (NYSE: CWK) has appointed Neil Johnston as Executive Vice President and Chief Financial Officer, effective February 2021. This transition follows the retirement announcement of current CFO Duncan Palmer in February 2020. Johnston brings over 30 years of finance experience, having previously served as CFO at Presidio and in various leadership roles at Cox Enterprises. Palmer will continue as a consultant through 2021. With this strategic appointment, the firm aims to build on its strong financial performance as a leader in the real estate services industry.

Cushman & Wakefield (NYSE: CWK) has facilitated a lease expansion for Whitebox, a modern commerce marketplace, covering 350,528 square feet at the Golden Triangle Logistics Center in North Las Vegas. This expansion marks a significant growth for Whitebox, which has increased its capacity fourfold in the area since selecting Las Vegas as its West Coast hub in 2019. The new facility, strategically located near major highways and McCarran Airport, will enhance Whitebox's fulfillment capabilities and support its tech-enabled network.

Cushman & Wakefield (NYSE: CWK) has partnered with NorthPoint Development and The Romney Group to construct the Lakeview Business Park in Grantsville, Utah, a vast 19-million-square-foot project. With over $1 billion in investment, the park aims to create a jobs-rich, environmentally friendly space focused on industrial clients. Construction started in November 2020, with the first building being 506,930 square feet, expandable to 1 million square feet. The development will significantly impact local tax revenue and job creation.

Cushman & Wakefield (NYSE: CWK) has joined over 80 major employers in a multi-year initiative by Business Roundtable to reform hiring practices, focusing on skills rather than degrees. The company aims to enhance equity, diversity, and workplace culture. New recruitment strategies will be implemented to better evaluate job seekers' skills, and career development programs will be updated to facilitate upward mobility. Efforts include tracking the effectiveness of these initiatives. The company seeks to align its workforce programs with these goals, placing greater emphasis on skills to differentiate its services.

Cushman & Wakefield (NYSE: CWK) has successfully facilitated the sale of the Marion Industrial Center in Marion, Ohio, to Jaguar Transport. The industrial facility spans over 1.5 million square feet on 511 acres, featuring a significant rail infrastructure connected to the CSX network. This strategic acquisition is expected to enhance Jaguar's service offerings and industrial development opportunities in the region. The Cushman & Wakefield team, including Whitney Kerr Jr. and Michael Flynn, emphasized the site's potential for new warehouse space and its advantageous location for multimodal transportation.