AGENCY / BROKERAGE

Our transaction professionals are active in every major market worldwide, optimally positioning and marketing properties and uncovering hidden opportunities for clients. Supported by our worldwide research, our professionals provide clients with detailed market intelligence, making every recommendation a local one.

Landlord Representation We offer integrated brokerage/transaction services designed specifically to fit landlord needs. Our understanding of the dynamics of local real estate markets around the globe enables owners to create maximum value for their asset or portfolio of assets. Services include valuation, strategic planning, marketing and property positioning, property management, project management, and construction supervision. Lease Advisory We offer a flexible, comprehensive, and strategic service that combines leasing, property management, project management, valuation, financial analysis, and market analysis through a single point of contact. This program is by design flexible, allowing it to be tailored specifically for each client in order to strategically manage and lease buildings. Offices Owners, occupiers, and investors benefit from the experience, in-depth local property knowledge, and technology platform provided by our worldwide professionals. Transactions get executed quickly and for maximum value, regardless of location or market conditions. Retail Services From shopping centers and retail parks to main streets and factory outlets, our global retail specialists leverage their vast retail industry knowledge and global perspective to maximize your goals. Comprehensive services include risk management, site selection, logistics/distribution, demographic analysis, and acquisition and disposition services. Supply Chain From manufacturing and transportation to warehousing and delivery of product to retail and other outlets, we help clients improve speed to market, provide cost and risk reduction, and maximize location and labor requirements. Clients are provided with a comprehensive supply chain solution that integrates real estate, the supply chain, and strategic business advice into a comprehensive top-to-bottom service. Tenant Representation We're dedicated to providing space that is not only affordable, flexible, and functional, but also conducive to increasing client creativity, productivity, and profitability. Our clients deserve nothing less. Industrial We provide local, national, and multinational industrial clients with seamless, consistent, and customtailored industrial real estate solutions that fulfill business objectives, improve shareholder value, and maximize cost-saving opportunities. Industrial brokerage services include acquisition and disposition; lease and sale negotiations based on market knowledge and current trends; incentives negotiations; and build-to-suit analysis and planning.

LANDLORD REPRESENTATION
For landlords, our brokerage professionals develop strategies to enhance the value of a real estate asset through four key elements: positioning the product in the marketplace, identifying suitable prospects, creating customized marketing strategies and tools and managing all of the steps associated with the leasing process. Our Landlord Representation services include: y - product positioning y - creation of marketing strategies and tools y - target marketing to suitable prospects y - leasing negotiations y - post-leasing services Our Landlord Representation team evaluates market conditions, including tenant relocations, levels of occupancy in a target area, rental rates, proposed development and other real estate trends and develops a comprehensive positioning and leasing program for the property. As a result of our experience with Tenant Representation, we are able to better understand tenants' needs and thus position and lease properties for landlords more effectively.

LEASE ADVISORY
We add value to rental agreements and lease provisions through highly effective management. Our Lease Advisory services help clients avoid any potential pitfalls and also exploit discrepancies which may have arisen during the purchase and ownership cycle. This can have a significant impact on the value of an investment and on the optimal use of business premises. We have in-depth y y y y y experience in the following key areas: Rent reviews Arbitrations Lease renewals Lease restructuring Dilapidations

OFFICES
Each year Cushman & Wakefield negotiates transactions on behalf of its clients involving nearly 400 million square feet, with an overall valuation of more than $50 billion. Transactions include high-rise properties, business and office parks, multi-tenant buildings, and mixed-use projects. Our professionals, who are highly attuned to the time sensitivity of real estate requirements, fast-track acquisitions, dispositions, lease negotiations, and other activities through innovative marketing, transaction structuring, and financing arrangements. Tenants and landlords both benefit from the unmatched experience, market knowledge, and integrity of our office professionals. Our transaction services are provided on a regional, national, and worldwide basis to major corporations, pension funds, REITs, developers, entrepreneurs, small and midsize companies, and financial institutions

RETAIL SERVICES
Owner Representation Services we create maximum asset value by positioning the property in the marketplace, identifying suitable prospects, creating customized marketing and financial strategies, and managing all steps associated with leasing, among other services. y Agency Leasing Our leasing agents develop a strategic asset plan for each client property or portfolio. The plan details strategies to attract, retain, and meet the needs of tenants. y Portfolio Leasing We provide multiple-market retail property owners with coordinated marketing and leasing. This strategy leverages the entire retail property portfolio, thereby increasing overall retail community exposure. y Investment Sales We formulate and execute real estate transactions that help clients to achieve specific cash flow and financial statement objectives, promote efficient use of capital and credit resources, and mitigate tax burdens. y Valuation Our expert valuation team helps clients make decisions regarding risk assessment, investment options, capital allocation, and redeployment opportunities. Tenant Representation Services Whether you are considering entry in a new market, expanding in an established one, or planning a new store location, our professionals match each tenants business objectives with the optimal property solution. y Strategic Planning We evaluate and identify socioeconomic and demographic data; transport and accessibility; pedestrian flow; tourist counts, existing distribution networks; store size factor in sales productivity; gross occupancy cost analysis; and urban and suburban expansion considerations, among other factors. y Site Selection & Acquisition Potential locations are thoroughly evaluated and ranked according to strategy and planning phase benchmarks. y Site Disposition Services include initiation of landlord negotiations; property positioning and marketing; document preparation and distribution; updating of national databases; offer solicitation and review; and contract negotiation and execution. y Portfolio Administration Our Web-based, fully integrated, customized real estate portfolio and facilities management solution includes portfolio management functions, client relationships/ account management, and real estate consulting services, as well as customized reporting and operating cost benchmarks.

SUPPLY CHAIN
If your organization's supply chains are operating at less than maximum efficiency, or if you are uncertain whether their performance is optimum, Cushman & Wakefield's Global Supply Chain Solutions (GSCS) practice may have the answer. We help corporations, institutional owners, developers, REITs, logistics providers, transportation companies, and other entities attain peak effectiveness by focusing on upstream business issues and related factors and then providing strategic, comprehensive solutions. From manufacturing and transportation to warehousing and delivery of product to retail and other outlets, our solutions help you to improve speed to market, provide cost and risk reduction, and maximize location and labor requirements. GSCS Services include: y Strategic Consulting y Network Rationalization y Inventory Modeling & Optimization y Location Selection y Foreign Trade Zone Consulting & Strategies

Supply Chain Security Facility Design Simulation Modeling Logistics Execution Systems Operations Planning & Management 3PL Selection Services Acquisitions Build-to-Suit Planning & Project Management Dispositions Property Marketing Leasing & Sales Cost & Capital Management Incentives Negotiation GSCS understands the array of supply issues you face and we possess the real estate acumen necessary to offer viable solutions for your strategic business issues on a global scale. Our firm has deep experience integrating all of the myriad vital components involved and then providing you with the strategic plans you need to address, resolve, and maximize your supply chain requirements.

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TENANT REPRESENTATION
Our integrated resources help tenants meet their objectives in major markets and locations. We analyze each tenant's business objectives and match them with the optimal real estate solution. Services for relocations, consolidations, subleases, acquisitions, and dispositions include strategic planning, demographic and site consulting, comparative financial analysis, construction, and post-occupancy services. In addition, our Transaction Consulting Group partners with our brokerage professionals to structure and execute tenant representation assignments. With backgrounds in leasing, investment banking, and asset management, the group supports our brokerage professionals with strategy development, financial analysis of alternatives.

INDUSTRIAL
We achieve industrial real estate excellence for our clients by providing an unsurpassed combination of talent, experience, and resources. Our industrial transaction professionals offer a comprehensive range of services, including: y - Facility, site, and land acquisition and disposition y - Lease or sale negotiations based on market knowledge and current trends y - Incentives negotiation y - Build-to-suit analysis and planning These value-added services are applicable to any of the diverse product types categorized as industrial buildings, from manufacturing plants and traditional warehouse/distribution facilities to more specialized research and development facilities, warehouse/showroom ("flex") space, and high-tech laboratories. We also distinguish ourselves through our ability to seamlessly integrate with a client's real estate

department. Our industrial transaction professionals ascertain existing needs and anticipate future real estate needs to create the solutions that clients demand. All phases of negotiation are conducted with full knowledge of local, regional, and national data, trends, and statistics as supplied through our global operations. Our ability to incorporate key elements such as negotiating government incentive programs, identifying construction cost reductions through value engineering, and creating exit strategy opportunities when needed, allows our clients to recognize the full potential of their real estate assets.

CAPITAL MARKETS The Capital Markets Group provides advice, execution, and investment management services to clients engaged in buying, selling, investing in, financing, or building real estate. These services typically are provided to private and institutional owners and investors, as well as to corporate owners and occupiers.
Our objective is to advise clients on how to maximize the value of their real estate. We assist them in extracting that value through the application of sophisticated financial strategies and funding mechanisms. Our efforts include but are not limited to investment sales and purchases, joint ventures, sale-leasebacks, traditional mortgages, private placements, securities underwriting, mezzanine financing, loan syndication, and other financing vehicles.

Advisory Services Our Analytics professionals provide the most sophisticated advice on the current and projected value of real estate and real estate-related investments, evaluation of the performance of investment portfolios, the optimal timing of major actions, including acquisition or disposition, and forecasting the impact of economic and demographic trends in real estate. Agency Executions Our agents, bankers, and brokers apply the most sophisticated techniques to extracting maximum value for our clients from their real estate activities, whether they are buyers, sellers, borrowers, lenders, investors or occupiers. They have the knowledge and experience to optimize transactions from the client's perspective, including maximizing proceeds, minimizing costs, mitigating taxes, and achieving optimal accounting treatment. Investment Management

Our investor clients benefit from the unsurpassed insight that results from the full range and geographic breadth of our market activities. The real-time market knowledge that we gain in buying, selling, financing and valuing properties on a global basis is gathered, analyzed, and applied for the benefit of our investor clients. We identify opportunities to achieve superior risk-weighted returns in investment products, ranging from separate accounts to fully discretionary funds. Corporate Disposition Practice Utilizing C&Ws significant experience in the area of corporate property sales, the Corporate Disposition Practice is a national program designed to assist our corporate clients in the sale of their real estate assets. The Corporate Disposition Practice works closely with Client Solutions, Investment Banking, Investment Sales and Business Consulting to provide corporate clients with expertise in virtually all types of corporate sale structures. Services often include designing and implementing national transaction programs, single asset/corporate property sales, portfolio sale of corporate properties or structuring short and long-term sale leasebacks. The Corporate Disposition Practice brings a sophisticated and quantitative approach to corporate property sales, and is backed by the entire C&W platform.

ADVISORY SERVICES
Analytics Analytics helps clients to manage risks and exploit opportunities by quantifying the risks and prospective rewards of investment decisions. Current and projected economic, demographic, and market conditions that impact real estate are assessed, with special emphasis given to real estate investment markets. Services include decision modeling, market conditions evaluation, performance forecasting, and risk and opportunity assessment. Securities Research We produce confidential, customized, in-depth analysis of real estate related securities. Coverage includes equity, convertible, and REIT debt securities; non-REIT real estate operating companies; and industrial companies with significant real estate holdings (i.e., retailers). We examine the real estate owned and managed by those companies, as well as provide an overview of their operational and growth strategies. Multiple approaches to the valuation of these securities are employed, including discounted cash flow analysis, estimation of net asset value (NAV), and dividend discount modeling.

AGENCY EXECUTIONS
We advise on, structure, and execute a wide range of capital transactions for clients including investment property and loan sales, equity and debt placements, sale-leasebacks, build to suit and construction financing, structured financing and recapitalization, real estate investment trusts, limited partnerships, unit trusts and joint ventures. Our custom-tailored solutions are designed to help clients achieve utmost value, mitigate tax burdens, optimize cash flow and accounting treatment, and secure the optimal capital structures that meet client needs. Investment Sales Our Investment Sales division is the preeminent provider of real estate capital solutions for owners, investors, and users of property. With unsurpassed reach in the global capital markets, intimate knowledge of real estate fundamentals, and complete access to Cushman & Wakefield's brokerage capabilities and services, our Investment Sales division provides optimal client solutions by crafting innovative ways to bring together real estate and the capital markets. In the U.S., the Investment Sales division includes specialists in the Multifamily, Retail, Industrial, and Hotel & Hospitality sectors. These specialists are uniquely positioned to bring invaluable, real-time market knowledge and insight to clients. The division assists clients nationally with both large portfolio disposition and single-asset sales, through a highly coordinated marketing process, standardization, and broad-based market coverage from experienced, responsive, and innovative professionals. y Hotel Transaction Group (within Cushman & Wakefield Sonnenblick Goldman) -offers clients the full benefit of Cushman & Wakefield's vast resources through a highly centralized service line dedicated to hospitality transactions, finance and investment advisory. Our professionals have represented the leading public and private hotel companies and institutional owners focusing on hospitality transactions and advisory services. Our expertise with hotel real estate encompasses the full breadth of hospitality products, including: all major brands of franchise-affiliated full-and limited-services hotels, independent boutiques, conference centers, casino hotels, spas, golf and destination resorts, extended-stay hotels, timeshare properties, and mixed use developments with hotel component. Investment Banking/Corporate Finance The Investment Banking Group is dedicated to providing both corporate property-level and entity-level financing products and advisory services. These products and services include loans (conventional, bridge, construction, and permanent), financings (structured equity, off-balance-sheet and large leases), and strategic investment and financing advisory services. Clients include corporations (both public and private) that own and/or occupy real estate, and nonprofit organizations. These solutions are provided through two specialized teams: The Origination team formulates innovative techniques for controlling and financing real estate to help clients achieve specific objectives. For corporations, we focus on operational issues, accounting, and tax impact. We also focus on executions that maximize leverage, minimize tax liability, and/or enhance existing equity positions. The Placement team directs the successful execution of client transactions. The team cultivates and maintains relationships with more than 1,500 capital sources, including insurance companies, mortgage conduits, banks, finance companies, REITs, pension funds, and private debt and equity investors - foreign and domestic, institutional and private. Real Estate Investment Banking/ Debt & Equity Finance: Cushman & Wakefield Sonnenblick Goldman A premier global real estate investment banking firm, Cushman & Wakefield Sonnenblick Goldman provides a full range of real estate financial services. These include the structuring, arranging and/or placement of debt and equity, capital raising, note sales and exclusive advisory services for all property types, and hotel investment sales.

We offer our clients a demonstrated track record of maximizing value and transaction terms. Cushman & Wakefield Sonnenblick Goldman is a recognized expert on sourcing unique international equity and expertise in underwriting, and executing complex, structured transactions. Our finance capabilities are focused on delivering maximum asset value. Cushman & Wakefield Sonnenblick Goldmans Debt and Equity Capital Markets Group is one of the leading advisors to the real estate industry. In addition, our International Lodging and Leisure Group, with dedicated hospitality professionals based in major markets, is well established as a world-leading advisor to the industry. Cushman & Wakefield Sonnenblick Goldman represents a full spectrum of domestic and international clients, from entrepreneurs to major public enterprises. Our experience encompasses all major transaction types, including joint venture equity, permanent, bridge and construction financing, hotel sales and note sales. We apply sophisticated financial analysis and global market data, and draw from a network of high-level investor and lender relationships to achieve each clients goal. For more information click here. Cushman & Wakefield Securities In addition to providing traditional private placement and advisory business, we also execute transactions that involve the issuance or exchange of securities through Cushman & Wakefield Securities, Inc., a FINRA registered broker dealer. Through this service, we provide financial advisory services for clients in real estate merger and acquisition transactions, serving as an adjunct to the traditional private placements of whole loan debt and equity investments in real estate assets.

INVESTMENT MANAGEMENT
We provide a full range of Investment Management services to clients seeking to invest in real estate. Our investor clients benefit from the unsurpassed insight that results from the full range and geographic breadth of our market activities. The real-time market knowledge that we gain in buying, selling, financing and valuing properties on a global basis is gathered, analyzed, and applied for their benefit. Operating through Cushman & Wakefield Global Investment Management, we offer a number of investing alternatives. Among our specialized investment vehicles is the Cushman & Wakefield Net Lease Trust, Inc., a private real estate investment trust. The Trust purchases the real estate of unrated or non-investment-grade companies through sale-leaseback arrangements. Targeted investments consist mainly of office and industrial properties net leased on a longterm basis (typically 10 years or longer). The Trust vehicle enables us to provide financing to companies seeking an alternative source of capital, while also providing investor clients with the potential for an attractive and secure risk-weighted return on investment.

CORPORATE DISPOSITION PRACTICE

Program Overview

Working in close coordination with the firms Client Solutions Group, this national Practice is designed to increase efficiency and collaboration among service lines, leveraging the firms entire spectrum of expertise in the sale of corporate assets on behalf of its clients. Applying C&Ws significant experience in the area of corporate property sales, the Corporate Disposition Practice brings the sophisticated and quantitative approach utilized in investment sales to corporate property transactions. Value is maximized for our clients by utilizing the expertise and resources of the Capital Markets Group in conjunction with the local market expertise provided by our investment sales professionals on each transaction. This unique program allows our clients to work through one practice group to implement corporate property sales on a national basis. Supporting the national practice and its leadership team is a cross-functional Advisory Board that draws upon the firms Investment Banking, Brokerage and Business Consulting groups. The result of this collaboration is a cohesive, sophisticated and institutional approach to the sale of corporate property on behalf of our clients. Program Leadership The Corporate Disposition Group is led by Richard Ingwers on a national basis. He is supported by Bradford Rogers in the Western United States and Andrew Merin and David Bernhaut in the Eastern United States. Combined, these professionals have completed 129 corporate property transactions encompassing 40 million square feet with an aggregate value of over $4.4 Billion. Key Capabilities The practice group has significant transaction experience in both investment sales and corporate property sales across multiple product types including Office, Office/R&D, Industrial, Manufacturing, Retail and Land. The areas of focus for the practice group include: y National transaction programs y Single asset sales y "Portfolio/bundled" asset sales y Sale of vacant/surplus corporate real estate y Property sales with short-term leaseback y Property sales with long-term leaseback y Other structured sale solutions Contact Information Richard A. Ingwers Vice Chairman (408) 572-4146 rick.ingwers@cushwake.com