Cushman & Wakefield Represents Buyer, Will Provide Leasing Services for New Building

PHOENIX, Nov.13, 2015 – Cushman & Wakefield, a global leader in commercial real estate services, announced today that Dared 89 LLC (dba Douglas Allred Company) purchased a ±64,853 square foot industrial building at 4039 E. Raymond Street in Phoenix for $3.6 million. The San Diego-based full-service real estate firm announced Dougplans to tear down the existing building and develop Allred 40, a ±90,000 square foot, two-story office building.

Cushman & Wakefield Executive Director Jim Wilson represented Douglas Allred Company in its purchase of the property. The seller was R.E. Exchange Services, Inc. (Avalon Pacific-Santa Ana, L.P.) from Newport Beach, CA.

“Douglas Allred Company has been very successful in developing highly sought after properties in the right locations,” said Mr. Wilson. “Their ability to recognize and take advantage of the opportunity this location presented for a new office building was another example of their understanding of what users in our marketplace are looking for.”

Removal of the existing industrial building is slated to begin before year-end with occupancy on the new Allred 40 office building by June 2016. Located in the Airport submarket, Allred 40 will offer ±45,000 square foot floor plates, and 6.48/1,000 parking. Mr. Wilson has the leasing assignment for Allred 40.

The successful merger of Cushman & Wakefield and DTZ closed September 1, 2015. The firm now operates under the iconic Cushman & Wakefield brand and has a new visual identity and logo that position the firm for the future and reflect its trusted global legacy and wider history. The new Cushman & Wakefield is led by Chairman & Chief Executive Officer Brett White and Global President Tod Lickerman. The company is majority owned by an investor group led by TPG, PAG, and OTPP.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenues of $5 billion across core services of agency leasing, asset services, capital markets, facility services (branded C&W Services), global occupier services, investment & asset management (branded DTZ Investors), project & development services, tenant representation and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.