Cushman & Wakefield is no longer handling Brookfield Asset Management's office and logistics listings in the U.S., according to a report by Bloomberg. The move comes at a tenuous time for C&W and other CRE brokerages as they struggle to maintain revenues until the industry makes an expected recovery in the second half of next year.
Bloomberg said the brokerage was fired after it declined to shift some of its offices to Brookfield's redeveloped 660 Fifth Ave. from 1290 Avenue of the Americas. The publication cited a source that was familiar with the matter.
GlobeSt.com reached out to C&W and BAM for comment after hours and will update this article with their responses.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
