IRVINE, CA / PHOENIX, AZ – April 21, 2023 – Cushman & Wakefield announced the firm’s premier National Industrial Advisory Group (IAG) – West and Mountain West teams are joining forces in serving clients and properties in the states of Nevada, Utah and Idaho. The two market-leading sales teams will now collaborate their efforts on all transactions located in these three emerging industrial markets through a strategic shared approach. The IAG teams will also continue to work together with local market brokers and other service lines on transactions.
Cushman & Wakefield’s IAG – West team is based in Southern California and is led by Executive Vice Chair Jeff Chiate, along with Executive Vice Chair Rick Ellison, Vice Chair Bryce Aberg, Director Mike Adey, and Associates Brad Brandenburg and Matthew Leupold. The IAG-West team’s coverage area consists of six western states, also including California, Oregon and Washington.
Based in Phoenix, Cushman & Wakefield’s IAG-Mountain West team is led by Executive Vice Chair Will Strong, and includes Executive Managing Director Phil Haenel, Managing Director Micki Strain, Senior Director Kirk Kuller and Associate Molly Hunt. The team’s coverage area includes a total of eight states, also comprising Arizona, New Mexico, Colorado, Wyoming, and Montana.
“Cushman & Wakefield’s IAG-Mountain West and West teams are two of the most preeminent industrial Capital Markets advisors based in the U.S. and are led by some of the most respected and top-producing sales brokers in the country. By aligning these two powerhouse teams through a collaborative structure, we provide clients from around the world with the best-of-the-best talent and experience to sell and/or acquire industrial property in these key thriving and growing markets,” said Dan Broderick, Cushman & Wakefield’s President, Advisory Services. “These IAG teams are also highly collaborative and do a tremendous job in partnering with other sales/leasing brokers in our local offices, adding to our ability to serve clients and these markets in the very best fashion.”
Jeff Chiate, who is also a founding member of Cushman & Wakefield’s National Industrial Advisory Group, said, “Given their regional accessibility to consumers, and particularly to major ports, transportation services, and logistical routes, the West/Mountain West markets maintain healthy occupier activity and demand, which continues to create great opportunity for our investor and developer clients in both the short and long term.”
During the five years spanning 2018 through 2022, the IAG-West and Mountain West teams have transacted staggering industrial deal volumes, with a combined 287 deals totaling nearly 165 million square feet valued at $18.5 billion. Within the past 18 months, Cushman & Wakefield’s IAG – West and Mountain West teams have transacted some of the most high-profile sales in their regions, including but not limited to the following:
- A 1,101,840-sf Class A cross-dock industrial building in California for $365MM
- A new 858,901-sf Class A industrial portfolio in Arizona for a total of $314MM
- An 862,113-sf industrial development in Arizona for $208MM
- A new 824,320-sf industrial building sold on a forward basis in Utah for $141MM
- A 730,760-sf Class A big-box industrial portfolio in Arizona for $109.2MM
- A 614,020-sf multi-building distribution portfolio in California
- A 602,730-sf state-of-the-art Class A core industrial project in California
- A 601,103-sf iconic multi-tenant Class A industrial building in California
- A new 547,290-sf Class A distribution portfolio with a Fortune 10 e-commerce tenant in Utah for $291.5MM
- A new 200,800-sf distribution building with a Fortune 10 e-commerce tenant in Colorado for $94.8MM
- A state-of-the-art 260,150-sf distribution building in Nevada for $30M
- A new 141,360-sf Class A industrial building with a Fortune 10 e-commerce tenant in Idaho
- A 112,232-sf logistics facility with a Fortune 10 e-commerce tenant in Nevada for $72.2MM
