C&W and HP lead effort in the creation of Concordis Real Estate, a unique real estate services solution
New York, April 16, 2003---Cushman & Wakefield, the world’s preeminent real estate services firm, and HP today announced the launch of Concordis Real Estate, a corporation wholly owned by nine independent minority and women-owned real estate firms across the United States. In announcing the launch, Cushman & Wakefield also formalized its national marketing agreement with Concordis.
Through the strategic alliance, Cushman & Wakefield and Concordis will develop and refer business to each other. The relationship between Cushman & Wakefield and Concordis is the first of its kind in the real estate industry and marks a new paradigm for the services sector as a
whole.
Concordis was formed to insure that minority and women-owned real estate firms participated in a range of real estate services that resulted from a contract HP awarded to Cushman & Wakefield for the management of HP properties in the U.S. In addition to HP, the alliance already boasts Sears and Discovery Communications among its initial clients.
“Over the last three decades, corporate America has increasingly realized the value of diversity in the workplace and with the supplier channel,” said Cushman & Wakefield President, U.S. Operations Bruce Mosler. “The real estate industry has lagged in this regard, but this alliance is a giant step forward. Our agreement with Concordis gives the end user a solution for meeting their diversity objectives and marks a milestone in the history of the services sector.”
Mr. Mosler said working with minority suppliers is business as usual in Corporate America today, outside of the real estate industry. “There is a recognition that corporations exist in a diverse environment,” he said. “Our clients are already there. Cushman & Wakefield now has taken the lead in the real estate industry and provided the only national solution for corporate
America, but we also gratefully acknowledge HP for its guidance and support in helping to give birth to this innovative approach to minority business development.”
Pandit Wright, Senior Vice President of Administration and Director of Human Resources at Discovery Communications said, “Given the historical lack of diversity inside the large real estate firms, we are very glad to see Cushman & Wakefield working with Concordis.”
Derrick Banks Mashore, executive managing director, Global Corporate Services, Cushman & Wakefield, said the primary obstacles to a minority supplier program in the real estate industry were all overcome by the Concordis platform. The real estate industry had problems identifying minority firms, reviewing their track records, reducing the number of vendors to a workable quantity and identifying firms with broad geographic reach and expertise.
“Concordis is the whole package: geographically diverse, broad service offerings, experienced quality professionals,” he said. “We are proud to team with Concordis member firms as they are known and respected by the marketplace and by Cushman & Wakefield. For example, while HP and Sears were introduced to Concordis by C&W, Discovery Communications was introduced to C&W by Concordis member The Freeman Group.”
Ivan Boone, president of Concordis, said the alliance between Cushman & Wakefield and Concordis “clearly provides a mutual advantage to both parties. Neither Cushman & Wakefield nor Concordis would have succeeded alone in acquiring the business of Detroit Police and
Fireman’s Pension Fund. Together we were the best choice.”
“The creation of Concordis represents a powerful change in the way that diversity service providers do business with corporations in the real estate industry and beyond,” said Jo-Ann Butler, HP’s Director of Multicultural Procurement & Sales Support. “HP is delighted to be a driving force in support of this important initiative and hopes that other corporations will join our efforts.”
About Concordis
Concordis was organized on May 15, 2002. The nine firms from across the U.S. joined together at Cushman & Wakefield’s global headquarters in New York to create the nation’s first corporate real estate partnership comprised exclusively of minority and women-owned business enterprises. Concordis is comprised of the following companies:
Concordis was organized on May 15, 2002. The nine firms from across the U.S. joined together at Cushman & Wakefield’s global headquarters in New York to create the nation’s first corporate real estate partnership comprised exclusively of minority and women-owned business enterprises. Concordis is comprised of the following companies:
• Aguirre Corporation - a facility solutions concern, based in Dallas.
• E.L. Martin & Co. - a commercial real estate consulting and brokerage company, based in New York City.
• The Freeman Group, L.L.C. - a commercial leasing and consulting company, based in Washington, D.C.
• Frontier Commercial, L.L.C - a real estate brokerage, consulting and advisory firm, based in Chicago.
• Harris Smith Design - a firm of architects, interior designers, and planners based in New York City.
• Mayfield Gentry - a real estate services firm based in Detroit.
• Northbridge Group- negotiates the purchase and disposition of real estate and is based in Oakland, Calif.
• ConcordisRyland. - a commercial real estate services firm based in Houston.
• Thomas Coats and Assoc. - a real estate advisory firm based in Chicago.
About Cushman & Wakefield
Cushman & Wakefield is the world’s premier real estate services firm. Founded in 1917, through a combination of our Cushman & Wakefield offices, Alliance and Associate offices, the firm has 158 offices in 48 countries around the globe, and 11,000+ talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. We also provide valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, please call 1-800-376-3133, or visit the firm’s Web site at:
Cushman & Wakefield is the world’s premier real estate services firm. Founded in 1917, through a combination of our Cushman & Wakefield offices, Alliance and Associate offices, the firm has 158 offices in 48 countries around the globe, and 11,000+ talented professionals. Cushman & Wakefield delivers integrated solutions by actively advising, implementing and managing on behalf of landlords, tenants, and investors through every stage of the real estate process. These solutions include helping clients to buy, sell, finance, lease, and manage assets. We also provide valuation advice, strategic planning and research, portfolio analysis, and site selection and space location assistance, among many other advisory services. To find out more about Cushman & Wakefield, please call 1-800-376-3133, or visit the firm’s Web site at:
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