Jones Lang LaSalle


Cushman Increases San Diego Presence with Alliance Acquisition
April 19, 2006
By Amanda Marsh, Staff Writer

Cushman & Wakefield Inc. has acquired brokerage firm San Diego Corporate Real Estate Advisors. Previously a member of the Cushman & Wakefield Alliance, the firm will now serve as the global real estate service provider's San Diego branch office.

The move represents a return to the market for Cushman & Wakefield, which operated a branch office there until 2001, when it restructured and shut down the branch. The office's managing director, Stephen Rosetta (pictured), started up San Diego Corporate Real Estate Advisors. He has been appointed executive director and managing broker of the merger.

"It made sense for Cushman & Wakefield to re-enter the market," Rosetta told CPN this afternoon, describing San Diego as a competitive market. "Cushman & Wakefield will now have a bigger foothold in San Diego ownership." The merger will also bring Cushman & Wakefield brokers to 16, up from only two in the previous iteration.

The full integration into Cushman & Wakefield is also positive for San Diego Corporate Real Estate Advisors brokers and employees, as it "gives us access to deeper resources," Rosetta said. The firm already has a roster of major clients, including Fish & Richardson, Nokia, Siemens and Hewlett-Packard. Last year, its total transaction volume was over $292 million in 183 deals, representing almost 2.5 million square feet of activity.

The merger is only one step that Cushman & Wakefield has taken to bolster its San Diego operations. It recently added three top industry professionals to its valuation services group--Lance Dore, Brian Curry and D. Matt Marschall--who are developing national appraisal practices for agribusiness, energy and master-planned communities.