Newmark lures top office leasing broker Fred Smith from Cushman & Wakefield

The firm recently poached another top broker

New York /
Jul.July 18, 2016 08:00 AM

Newmark Grubb Knight Frank has hired Cushman & Wakefield’s Fred Smith, an office leasing broker who has represented clients in more than 30 million square feet of deals.

Smith, 60, has worked at Cushman for 31 years and has represented the likes of Facebook and CBS. Most recently he worked as vice chairman in the firm’s New York office, and he will take up the same role at Newmark, the Wall Street Journal reported. Details of Smith’s deal with Barry Gosin’s firm were not immediately available.

Earlier this month, Newmark TRData LogoTINY poached Ron Bennett, from Cushman to expand the firm’s industrial practice in San Diego. Last year, the firm also hired most of Cushman’s Boston sales and leasing brokerage team.

“They’re investing,” Smith said. “I’m an example of an investment.”

The shakeup comes as commercial real estate services firms brace themselves for a Brexit-fueled slowdown. As a result, Cushman & Wakefield is expected to postpone its initial public offering, which it planned for later this year. Shares in firms including the CBRE Group, JLL, Savills PLC and Colliers International have plunged following Britain’s exit from the United Nations over fear of dropping commissions. [WSJ] Kathryn Brenzel


Related Articles

arrow_forward_ios
Retail, Shopping Centers, Cushman & Wakefield
U.S. shopping center vacancy hits 15-year low
U.S. shopping center vacancy hits 15-year low
SL Green's Marc Holliday, Frank Carone and Cushman & Wakefield's Brett White (SL Green, Getty, Cushman & Wakefield)
SL Green, Cushman suing tenants with Frank Carone ties
SL Green, Cushman suing tenants with Frank Carone ties
From left: Mauricio Umansky, Steven James, Robert Reffkin, Brad Loe, and Howard Lorber (Getty)
What a ban on noncompetes could mean for real estate
What a ban on noncompetes could mean for real estate
How CRE brokerages are responding to i-sales slowdown
How CRE brokerages are responding to i-sales slowdown
How CRE brokerages are responding to i-sales slowdown
From left: Cushman & Wakefield’s Doug Harmon and Adam Spies; American Express CEO Stephen Squeri; and 200 Vesey Street (Getty Images, Cushman & Wakefield, Brookfield Properties, Manhattan College)
American Express to explore headquarters sale, move
American Express to explore headquarters sale, move
(Photo Illustration by The Real Deal with Getty Images)
US retail real estate rises from the ashes
US retail real estate rises from the ashes
Len Texter (Cushman & Wakefield)
Senior Cushman executive to depart
Senior Cushman executive to depart
(Photo Illustration by The Real Deal with Getty Images)
U.S. property value to fall 20% in likely recession, Cushman forecasts
U.S. property value to fall 20% in likely recession, Cushman forecasts
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...