Cushman & Wakefield plc Ordinary Shares - CWK STOCK NEWS

Cushman & Wakefield (NYSE: CWK) has been recognized for the 10th consecutive year in the 2021 Global Outsourcing 100® list by IAOP, marking significant achievement in the outsourcing sector. The firm ranks in the Leader category for large global firms, evaluated on Customer References, Awards, Innovation Programs, and Corporate Social Responsibility. CEO Bill Knightly emphasized the challenges faced during the past year and the company's commitment to support clients with innovative solutions. Cushman & Wakefield continues to optimize real estate portfolios, ensuring excellence in service delivery.

Cushman & Wakefield (NYSE: CWK) has been appointed by Argent Ventures to manage 115 Tabor Road, a 465,133-square-foot office building in Morris Plains, New Jersey. This marks the third property management relationship between the two firms. The building is transitioning from a single-tenant to a multi-tenant Class A office space, featuring upscale amenities such as a corporate cafeteria, a state-of-the-art fitness center, and structured parking for over 1,000 cars. The property is strategically located near commuter rail services.

Cushman & Wakefield (NYSE: CWK) announced a £57 million ($77 million) forward purchase agreement for a purpose-built student accommodation (PBSA) asset in Bristol, England. The property will feature 357 student beds and over 92,000 square feet of amenities, including a gym and cinema. The asset is leased to the University of Bristol, aligning with their students' long-term needs. The property aims for a BREEAM Excellent rating as part of its sustainability strategy, demonstrating ongoing demand from investors in challenging economic conditions.

Cushman & Wakefield (NYSE: CWK) is set to announce its fourth quarter 2020 financial results on February 25, 2021, after market close. The results will be followed by a conference call at 5:00 p.m. EST, accessible via a dedicated phone line and a live webcast on their investor relations website. In 2019, the company reported revenues of $8.8 billion and employs about 53,000 staff across 400 offices worldwide.

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.