CBRE’s Chicago office broker team jumped to Cushman & Wakefield.
Brokers Paul Lundstedt, Dan Deuter, Tom Sitz and Cody Hundertmark will oversee investment sales in Chicago and throughout the Midwest, according to Crain’s.
Chicago-based Cushman has not had a dedicated capital markets team in Chicago in several years. Its national capital markets team had been led by two New York-based brokers.
Lundstedt, who previously worked for Cushman from 1991 to 2008, said his team was attracted to better sharing among investment sales brokers in different regions at Cushman. In addition to him, Deuter, Sitz and Hundertmark, the team includes four staff members who are leaving CBRE.
A CBRE spokesman declined comment to Crain’s.
Cushman & Wakefield, which went public in August, has been bolstering its investment sales team nationally this year. It recently hired investment sales brokers in Dallas and Los Angeles.
The brokerage’s Chicago office recently added the multifamily institutional investment sales team of KIG CRE.
Among Lundstedt and his team’s recent deals were Sterling Bay’s sale of the office tower at 121 West Wacker Drive and the sale of Schaumburg Towers to Skokie-based American Landmark Properties. [Crain’s] — John O’Brien