Boeing, the world's largest aerospace company, ultimately chose Chicago.
Cushman, chairman of Cushman & Wakefield spoke in a freewheeling interview that lasted more than an hour. He addressed a wide-range of topics -- Boeing, terrorism, and market trends, to name a few.
Although he doesn't like to make ''macro observations'' about commercial real estate, as you need to be as precise as a surgeon with a scalpel when discussing markets that will have submarkets within submarkets, when prodded by GlobeSt.com, he did provide some overall views.
''The year 2002, for the most part, will generally be more of a year of disposition than acquisition,'' Cushman says. ''Corporations, manufacturers and professional groups are going to focus on what they do and how they do it with less and do it better. That means outsourcing. That means downsizing and right-sizing. And that means more and more they're going to look outside for services.''
He says it also could be a ''quite extraordinary year for buyers that have cash, a very strong balance sheet or access to cash. Really, almost discretionary money. There are going to be wonderful opportunities. The gap has narrowed between the bid and the ask price. The year 2000 was such a blockbuster year. Sellers had such expectations at the end of the dot.com era before there was an implosion at the end of the day. But technology has not left us, nor has telecom. We are still going to be leaders in those fields.''
On the other hand, the collapse of companies such as Enron and Global Crossings, ''will have ripple effects that will be felt through Wall Street that will impact real estate transactions.''
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