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C&W forms alliance with Canadian firm.

Not long after entering into an alliance with a Mexican brokerage firm, Cushman & Wakefield has closed on a similar venture with Royal LePage, one of Canada's largest real estate service companies.

Cushman & Wakefield will provide real estate services to Royal LePage clients in the United States and Royal LePage will provide Cushman & Wakefield clients with access to Canada.

As part of the agreement, Cushman & Wakefield will assume full responsibility for all Royal LePage activities in the U.S., including its offices in Atlanta and Chicago. A number of Royal Le Page brokers have joined Cushman & Wakefield.

William A. Bugg, Jr., executive managing director of Cushman & Wakefield, will have oversight responsibility for the U.S. side of the joint venture.

According to Bugg, the firms will offer each other's clients office leasing, assistance with the establishment industrial facilities, and the "gamut" of financial services, such as appraisal.

Like other real estate firms, Cushman & Wakefield is responding to the increasing economic globalization. Coinciding with the signing of the Free Trade Agreement between Canada, the U.S. and Mexico, Cushman & Wakefield signed a similar agreement with Grupo Comercial Inmobiliario, a real estate brokerage firm in Mexico. Prior to that they formed an alliance with Healey & Baker of London, providing a European link for their clients. The company reports it is exploring such relationships in Japan and South America.

Royal LePage clients, Bugg said, will also be able to tap into Cushman & Wakefield's expanding international network.

"This sort of thing is really what our industry is really turning to," said Bugg, who is based in Atlanta. "In a way I look at the entire industry and I wonder if for a time we had our head in the sand.

With 400 brokers in eight cities, including Toronto, Victoria, Vancouver and Victoria, Bugg said, Royal LePage has an "absolutely" dominant share of the Canadian market.
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Title Annotation:Cushman and Wakefield Inc. signs agreement with Royal LePage Ltd.
Author:Fitzgerald, Therese
Publication:Real Estate Weekly
Date:Jan 13, 1993
Previous Article:Jones Lang takes helm at Port Liberte project.
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