C&W forms alliance with firms nationwide.
According to Bruce Mosler, C&W president of U.S. operations, the Alliance currently covers six states - Carolina, Florida, Tennessee, California, and Alabama - and will likely remain in its present form, at least as far as membership is concerned.
"This is a program that has been designed to gain market share, particularly as it relates to industrial and office properties, without acquiring offices in new markets," he said. "We are only looking to do this in a select number of markets as it relates to our plans."
Mosler also expects to see revenue increases as a result of the Alliance Initiative.
"This is not something we have a short-term view of, but candidly, we are looking for this to be significant for us in the industrial line of revenue," he noted.
Members of the new Alliance include Commercial Carolina, Commercial Jacksonville, Corporate Real Estate Advisors, Commercial Tennessee, Eason, Graham, & Sandner, and Mission Property. These regional firms will be expected to adhere to Cushman & Wakefield's service standards and follow its corporate policies.
According to Derrick Mashore, head of Cushman & Wakefield's client strategies department, the association with a national firm will give them instant recognition they would not otherwise have.
"The first obvious advantage for them is the exclusive referral for transactions," he said. "And it strikes me that in these difficult economic times everyone is looking for a competitive advantage. For someone from Alabama, this Alliance should enable them to go to New York and present themselves with increased reliability."
On all official documents, these firms will be identified by their name, followed by "Member of C&W Alliance" designation.
Mosler, stressed, however, that Cushman & Wakefield will not be looking for new partners in the future.
"We are not looking to allow people to have free use of our brand name, we are not doing this in order to have an office in every small market," he said. "We are simply doing this to grow some of our core business lines, particularly industrial and office. We have no interest in making this a partnership with a significant number of people."
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|Publication:||Real Estate Weekly|
|Article Type:||Brief Article|
|Date:||Jan 30, 2002|
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