Cushman & Wakefield extended its aggressive expansion with the acquisition of Taylor & Mathis of Florida LLC, a commercial real estate brokerage focused on leasing and property management. Terms of the deal were not disclosed.
With the addition of about 120 employees, Cushman becomes the second largest property management company in the state, according to a news release. Cushman manages 32 million square feet of property, but the acquisition creates a combined portfolio of 41 million square feet in Florida.
Taylor & Mathis has operations in Tampa, Miami and Winter Park. The company has developed over 600,000 square feet of office and retail properties valued over $250 million, according to a release.
“We feel our first-class property management business and seasoned leasing professionals are a great fit with Cushman & Wakefield’s long history of excellence and their strong national relationships,” said Brian Gale, a Miami principal with Taylor & Mathis. “This successful acquisition highlights the hard work and excellence both firms bring to our clients.”
The acquisition is one of several moves by Cushman to grow its national operations. In July, the firm welcomed a nine-member multifamily team led by veteran broker Robert Given, who left competitor CBRE Inc. after 13 years. In June, the brokerage acquired Atlanta-based Multi Housing Advisors, making it the leading multifamily platform in the Southeast.
Cushman also completed a $2 billion merger with Chicago-based DTZ last year, which made it the No. 3 brokerage firm in the U.S.