Boeing's 500,000-sf portfolio--primarily office assets--spans 23 countries in Europe, the Middle East, Africa, Australia and South America. As strategic advisor, C&W will provide transaction services for each of Boeing's 54 international properties.
"This is a significant enhancement of our relationship with Boeing, one of the world's best companies," says Cushman & Wakefield Chairman John C. Cushman III. "We have provided them with services in the US and are excited that our relationship has gone global."
Last year, Cushman negotiated Boeing's headquarters move from Seattle to Chicago. The firm signed a long-term lease for roughly 270,000 sf on the top 12 floors at 100 N. Riverside Dr., a 36-story West Loop office tower.
The complex deal included negotiating a sizeable incentive package with a reported value of $50 million in tax breaks. Cushman worked with officials at Boeing Realty and Boeing Co. in evaluating locations, structuring the transaction and managing the construction process.
"Cushman & Wakefield has the global reach and array of services Boeing needs in a worldwide real estate advisor," says Philip Cyburt, President, Boeing Realty Corp.
With $58 billion in revenues last year, Boeing is the world's 16th largest corporation. It is the largest manufacturer of satellites, commercial jetliners and military aircraft in the world and has 198,000 employees.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
