"I just heard of a deal occurring," says Todd Doney, a longtime Cushman Realty executive who left the firm about 18 months ago to become an executive managing director at Insignia/ESG. He remains in contact with several Cushman brokers and execs.

Rumors about a possible merger began spreading across brokerage communities in both New York and LA last week. A combination would strengthen C&W's presence in the strong Southern California market while, at the same time, provide Cushman Realty with stronger global capabilities and contacts.

Robert A. Ortiz, Cushman Realty's EVP in LA, didn't return GlobeSt.com's phone calls on Monday. C&W's LA spokesperson referred queries to the company's New York headquarters.

However, the New York counterpart would neither confirm nor deny the rumors: "There is a total 'no-comment' on anything we do at any time. We explore all avenues or opportunities that will benefit our clients or shareholders."

But there is no denying that C&W has been trying to bolster its Southern California presence. In December, the firm acquired the 15-broker Matlow-Kennedy Commercial Real Estate Services Co. in LA's sizzling South Bay market.

Cushman Realty, meantime, has established a solid track record but lacks the global infrastructure that C&W enjoys. It was founded by twin brothers John C. Cushman III and Louis B. Cushman 31 years ago this month.

Before starting their own firm, the twins both held key managment positions at Cushman & Wakefield. C&W was founded by their grandfather, J. Clydedale Cushman, and great-uncle Bernard Wakefield in 1917.