Cushman & Wakefield Negotiates Sale of Office Property to California Investor

PHOENIX, Dec.17, 2015 – Cushman & Wakefield, a global leader in commercial real estate services,
announced today that a California-based investor has purchased The Grove at Black Canyon in the Interstate
17 Corridor for $14.5 million.

Grove at Black Canyon copyCushman & Wakefield Senior Managing Directors Bob Buckley, Tracy Cartledge and Steve Lindley and Associate Ben Geelan, along with Executive Managing Director Jeff Wentworth and Senior Vice President
Sean Spellman negotiated the sale. Drawbridge Realty of San Francisco acquired the project from NSD Holdings of La Jolla, CA.

“This is a great single-tenant investment opportunity for the buyer,” said Mr. Buckley. “The property has a
strong history of success with high-quality tenants. Mass Mutual currently leases the project, and CIGNA
previously occupied the entire building. The Grove’s freeway-frontage and credit tenancy with a strong
remaining lease term made this an appealing acquisition.”

The Grove at Black Canyon, located at 11001 N. Black Canyon Highway, was built in 1986 and renovated in
both 2009 and 2013. The property contains 95,389 square feet of office space and is 100% leased by Mass
Mutual.
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