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.
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