Tampa-based Larry Richey will lead the company formed in the merger of DTZ and Cushman & Wakefield. Through its backing from TPG, PAG and OTTP, DTZ carried out a $2bn acquisition of C&W, however, the company will continue on under the C&W banner. As of 2013 (the most recent data available) Cushman’s total sales and lease volume in Florida was $3.18 billion, ranking it third in the state, behind CBRE Group Inc. and Marcus & Millichap. Cushman & Wakefield was the second largest commercial brokerage in Central Florida last year with $1.02 billion in local sales and lease transactions.
“The new Cushman & Wakefield will harness the expertise of two of Florida’s largest real estate firms. The merger amplifies our continued growth throughout Florida and augments our already highly regarded team of industry-leading professionals across the board,” Richey said in a statement.
