Nuveen Real Estate Awards Cushman & Wakefield New 1.4 MSF Property Management Assignment at One Boston Place and 501 Boylston Street

Rhea-AI Summary

Cushman & Wakefield secures new commercial property management assignments from Nuveen Real Estate for prestigious properties in Boston, totaling nearly 2.5 million square feet. The firm also renews contracts for existing properties, showcasing a strong partnership and commitment to operational excellence.

Contracts Also Renewed at 99 High Street and Across Nuveen’s Fort Point Portfolio, Equating to Nearly 2.5 MSF for Cushman & Wakefield’s Property Management Team

BOSTON--(BUSINESS WIRE)-- Cushman & Wakefield announced today that the real estate services firm has been awarded a new commercial property management assignment by Nuveen Real Estate for One Boston Place and 501 Boylston Street, totaling 1,415,003 square feet. In addition to the new assignments, Nuveen has also renewed Cushman & Wakefield’s contract to provide property management services at 99 High Street and the Fort Point Portfolio, which consists of an additional 1,042,503 square feet for a grand total of 2,457,506 square feet of assignments for the firm’s Property Management team. As part of the transition, Cushman & Wakefield has hired 16 incumbent professionals from the One Boston Place and 501 Boylston Street management teams.

“We are thrilled to deepen our relationship with Cushman & Wakefield, as we work together to improve operational performance and streamline expenses, ultimately providing a better product for our tenants and enhanced returns for our stakeholders,” said Dave Dyer, Director with Nuveen Real Estate.

Cushman & Wakefield’s Bruce Clifford and James Russell will lead the Property Management teams at Nuveen’s properties.

“After being awarded the assignment of 99 High Street and the Fort Point Portfolio in 2021, we have been devoted to showing Nuveen the Cushman & Wakefield difference, which is a direct product of the onsite property management staff and engineers we dedicate to each building and the limitless potential we tap into when these professionals are properly supported by the leadership team,” said Clifford. “We are looking forward to building off this momentum, carefully assessing the unique requirements for each property and positioning our local team to deliver cost and operating efficiencies, all while producing a meaningful and innovative tenant experience and the right onsite staffing model. We are grateful Nuveen has continued to trust Cushman & Wakefield to deliver brand consistency across their portfolio and are incredibly excited to add these premier Class A properties to our portfolio.”

Cushman & Wakefield’s Boston-based Property Management team offers comprehensive services specifically tailored at each property to meet client goals. By engaging the right resources and experts and aligning them to client objectives, the team delivers optimal solutions that produce real results.

Cushman & Wakefield is ranked as the #2 Property Management firm in the country with more than 5 billion square feet under management in the United States, according to the latest annual ranking from Commercial Property Executive, a real estate news source.

Photos of the property can be downloaded here.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240326820435/en/

Jayden Lapin-Tatman

Communications Manager, Northeast Region

212-841-5052

Jayden.LapinTatman@cushwake.com

Source: Cushman & Wakefield

FAQ

What is the total square footage of the new commercial property management assignments for Cushman & Wakefield from Nuveen Real Estate?

Cushman & Wakefield secured new commercial property management assignments totaling 1,415,003 square feet for One Boston Place and 501 Boylston Street.

How much additional square footage is included in the renewed contracts for Cushman & Wakefield's property management services at 99 High Street and the Fort Point Portfolio?

Nuveen renewed contracts for an additional 1,042,503 square feet at 99 High Street and the Fort Point Portfolio, bringing the total square footage to 2,457,506 for Cushman & Wakefield.

Who will lead the Property Management teams at Nuveen's properties for Cushman & Wakefield?

Bruce Clifford and James Russell will lead the Property Management teams at Nuveen's properties for Cushman & Wakefield.

How is Cushman & Wakefield ranked in terms of Property Management firms in the United States?

Cushman & Wakefield is ranked as the #2 Property Management firm in the country with over 5 billion square feet under management in the United States.

What is the main focus of Cushman & Wakefield's Boston-based Property Management team?

Cushman & Wakefield's Boston-based Property Management team offers comprehensive services tailored to meet client goals, delivering optimal solutions and real results.