Cushman Taps Avison Young Veteran to Lead Chicago

Cushman & Wakefield is handing the Midwest reins to a familiar industry name, tapping a local commercial real estate executive to lead its Chicago operation and a broad swath of the region.

Damla Gerhart will start March 2 as Cushman’s executive regional director for the Midwest, the Chicago-based brokerage said in a news release Thursday, first reported by Crain’s. She will succeed longtime Chicago market leader Vicki Noonan, who is set to retire at the end of March after nearly a decade running the firm’s local business.

Gerhart joins Cushman from rival Avison Young, where she oversaw more than 10 major markets across the firm’s central region. In her new role, she’ll lead Cushman’s Chicago brokers and managers, while steering strategy in Cincinnati, Columbus, Detroit, Indianapolis, Kansas City, Minneapolis and St. Louis — an area that spans many of the Midwest’s most challenged and opportunity-rich office markets, according to the release.

“Cushman & Wakefield is in a period of incredible momentum,” Gerhart said in a statement, pointing to a focus on strengthening client relationships and expanding growth opportunities.

Her resume cuts across multiple corners of the business, including capital markets, investment sales, development, construction and property management. She previously held roles at CBRE and Jones Lang LaSalle, giving her experience at each of the global brokerage heavyweights.

The appointment comes as brokerage firms recalibrate leadership and strategy amid a prolonged slowdown in office leasing and investment sales, according to Crain’s. In Chicago, Cushman has 118 brokers and roughly 350 market-level employees, according to a company spokesperson. When corporate staff at its global headquarters at 225 West Wacker Drive are included, the local headcount swells to nearly 1,000. Across the Midwest, the firm employs about 370 brokers.

Noonan has led Cushman’s Chicago market since 2016. She joined the firm after overseeing leasing for Tishman Speyer’s roughly 8 million-square-foot Chicago and Milwaukee portfolio.

— Eric Weilbacher