Cushman & Wakefield has no equity interest in the venture, but it does have an agreement with Concordis to share business whenever possible, creating new opportunities for all parties involved.

According to Mashore, minority- and woman-owned firms contributed to about 5% of all corporate real estate transactions last year; however, he feels that the new alliance might possibly double that figure if not more. "We think the ceiling might be as high as 20%," Mashore told GlobeSt.com, adding that C&W anticipates seeing a strong ROI in terms of incremental business. C&W declined to reveal how much of an investment it has made in the new venture.

In addition to HP, the alliance has already begun to generate new clients for the involved parties. "Cushman & Wakefield and Concordis clearly provide a mutual advantage to both parties. Neither would have succeeded alone in acquiring the business of Detroit Police and Fireman's Pension Fund. Together we were the best choice," said Boone.

The $100-million fund was recently awarded to C&W and Concordis for both project management and leasing activities. Concordis has also recently begun working with Sears, per C&W's existing relationship with the retail chain; and Discovery Communications has been introduced to C&W through Concordis member the Freeman Group.

Mashore explained that most corporations have four primary objections to fulfilling their real estate diversity requirements: they can't find appropriate vendors, they have a lack of information about qualified firms, the geographical reach of these minority firms isn't great enough and, ultimately, they want to keep their total number of vendors to a minimum.

"The structure of Concordis meets and exceeds the goals our corporate clients set for us," he said, adding that the role of C&W will boost the reputation of Concordis in the industry.

The chosen companies, according to Mashore, all met a list of criteria. Specifically, each firm had: an established business spanning more than six years; experience servicing corporate America, including Fortune 500 companies; a practice of completing work outside of their respective local markets; and a culturally compatible environment consistent with the Concordis business plan.

While there are no specific plans to add new members to the alliance, Mashore did note that with a year of operation under its belt, Concordis is now beginning to consider seeking new equity partners.