Cushman & Wakefield just got a little bit bigger.
The commercial real estate giant acquired Gibson Realty Group, a Miami-based property management firm with more than 4.1 million square feet in its portfolio. The acquisition elevates Cushman & Wakefield to handle more than 30 million square feet in Florida, the firm announced on Monday.
With the purchase comes 33 of Gibson’s employees. Gibson founder and principal O. Ford Gibson will stay on with the acquisition.
In Miami, Cushman & Wakefield now manages 36 properties totaling 6.1 million square feet with 40 property managers. Gibson’s clients include JP Morgan, Prudential, UBS and Codina. Miami properties include 1111 Brickell Avenue, 8333 Downtown Doral, Centergate at Gratigny and 550 Biltmore, according to a press release.
Earlier this year, Cushman & Wakfield expanded its reach to Broward County with the opening of its Fort Lauderdale office, adding on to locations in West Palm Beach, Boca Raton and Miami. The brokerage merged with DTZ last year in a deal valued at $2 billion, forming a commercial real estate giant with 250 offices in 60 countries. – Katherine Kallergis