A division of NorthMarq, the Minneapolis-based holding company previously known as Marquette Real Estate Group, acquired Cushman & Wakefield – Commerce based in Salt Lake City, Utah under the name Cushman & Wakefield/NorthMarq (CWN). Cushman & Wakefield – Commerce was an independently owned and operated Cushman & Wakefield Alliance firm that was the sixth-largest commercial real estate company in the Puget Sound region, according to a Puget Sound Business Journal article. The terms of the private deal, which officially closed in December 31st, were not disclosed, but the new company did announce that their combined offices have annual revenues of more than $100 million, and manage more than 50 million sq. ft. of commercial real estate assets, administered by nearly 750 employees.
"This new relationship makes both firms stronger. We will broaden the capabilities we offer clients, leverage best practices from both companies, and provide expanded opportunities for our employees," said Jeff Eaton, president of CWN. "In addition, because both of our firms are part of the Cushman & Wakefield global organization, we are already well-aligned operationally."
"We are excited about the opportunities to grow our business through this new partnership. The combined platform and service offerings through CWN will help our professionals better serve their clients in this ever-changing market. This is a great fit for us, as both firms share similar cultural values to provide great support to employees, offer exceptional service to clients and serve our respective local communities," said Mike Lawson, president of Commerce Real Estate Solutions.
Lawson and Commerce executives Bill D'Evelyn and Rodney Gibson will join a newly formed executive committee that will manage both companies. That committee, led by Jeff Eaton, will also include Mike Ohmes, Lisa Dongoske and Clint Miller from CWN.
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