Cushman & Wakefield was committed to having more teams providing a full suite of services to global and national accounts rather than solely being real estate brokers. Executive Director Fred Smith was asked to either join an existing team or to develop one of his own that would be able to execute this strategy quickly and effectively, and to do this without a loss of productivity.
Fred Smith would continue being a highly productive individual broker on a small team focused primarily on New York City business, with national and global services being provided as an afterthought.
Fred commits to setting up his own team that will acquire, service and retain global and national accounts.
He recruits and trains a team of 11 professionals.
In the first year, the team closes with one of the Big 5 accounting firms as a national account.
In 2000, they closed the company’s largest deal, involving almost 1 million square feet and generating an $8 million finance fee for the company.
In the last 4-year period, their largest account completes 46 transactions involving 8 million square feet of space while generating over $8 million in fees.
Fred Smith currently has 3 global and 4 national accounts.