PHOENIX-Cushman &Wakefield has acquired Cowen Commercial LLC, a real estate firm specializing in retail leasing, investment sales, shopping center repositioning and development.
As part of the acquisition, owner and president Jon Cowen, as well as Adam Madison, Joseph Hoye II and Shannon O’Keefe, will join Cushman & Wakefield’s local office. In his new position, Cowen is a senior director with the firm and will continue to serve as team leader.
“We’re always chasing top talent,” says Tom Johnston, managing director C&W’s local office. “We have thoroughbreds in every other sector including office, industrial and multifamily, and we wanted to have that kind of talent in retail.”
Johnston tells GlobeSt. he “worked on” Cowen for three years before convincing the industry veteran to join C&W. “Jon’s a top broker here,” he notes. “He’s well-known and brings a lot of business with him. With the addition of Cowen Commercial, we immediately capture market and broaden what we can offer our clients.”
Cowen brings more than 20 years of commercial real estate experience and has been responsible for transaction volume exceeding $1 billion. He founded Cowen Commercial in 2001, and since then, he and his team have represented local, regional and national tenants, as well as landlords. His prior experience includes tenure with Grubb & Ellis and De Rito Partners.
Cowen tells GlobeSt. that he decided to join C&W to gain access to an international services platform that he couldn’t provide as a boutique shop. “I wanted to expand the breadth and depth of my business, and I wasn’t going to be able to do that just by being a boutique shop,” he explains. “There was business that I was not able to get, and it was frustrating. With the platform that Cushman & Wakefield provides, I think I can get to that level and win some of that that business.”
In addition to C&W, Cowen was pursued by another global services firm, he says. “When I did the pros and cons list, Cushman & Wakefield came out head and shoulders above,” he contends. Cowen says he talked over the decision with him team, which agreed that it was the right time to make the move and that C&W was the right firm.
At C&W, Madison will serve as a senior associate. Prior to joining Cowen Commercial, he worked for several years as a leasing associate for Vestar Development Co.
Hoye, now an associate with Cushman & Wakefield, also specializes in landlord and tenant representation. Prior to joining Cowen Commercial, Hoye was an owner and operator of a national retail franchise, which he sold to develop his own real estate investments.
O’Keefe, client and marketing coordinator now with Cushman & Wakefield, will continue to spearhead the team’s overall marketing efforts.
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