Cushman & Wakefield has expanded its global industrial occupier team with the hiring of two brokers as U.S. industrial leasing remains healthy as the new year begins.
Joseph Howell and Brett Spitzer joined Cushman as vice chairs to lead Occupier Advisory Services, a group that helps businesses optimize, manage and lease their global real estate holdings, the firm told CoStar News.
Cushman’s Occupier Advisory Services group handles services ranging from property site selection and leasing to facilities management and workforce analysis, including providing support and analysis for company expansion and relocation decisions.
Howell and Spitzer, based in Denver, will support occupier clients and work with teams across the globe, Cushman & Wakefield said.
Their hiring comes as Cushman, the world’s third-largest real estate services firm, is expanding its industrial offerings after seeing gains in leasing deals that helped the firm set a quarterly revenue record in last year’s third quarter.
Chicago-based Cushman's expansion comes as U.S. industrial leasing demand has stayed resilient, despite trade tariffs contributing to volatility in activity at U.S. seaports, according to CoStar’s national industrial market report.
Three years of rising U.S. national vacancy rates — stemming in part from record levels of warehouse construction — slowed rent growth over the past year. That has helped occupiers by shifting negotiating leverage in favor of tenants, according to CoStar.
Industrial-strength experience
Howell and Spitzer come to Cushman from NAI Global, where they both held roles in Denver as executive vice presidents and managing directors for North America. At NAI, they advised global industrial occupiers on portfolio strategy, transactions and asset monetization, as well as international expansion and site selection.
“Their deep expertise and occupier-centric approach are critical as we enhance our advisory-led services and accelerate the growth of our industrial platform,” Jason Tolliver, Cushman’s president of Americas logistics and industrial, said in a statement.
Howell has more than 20 years of industrial experience, including co-leading NAI Global’s corporate solutions council. He has closed transactions with a total value of more than $3 billion, including the management of large and complex deals for U.S. and international occupiers.
Spitzer, who has about two decades of experience in international finance and real estate, has worked on projects across the Americas, Europe, Asia and Australia.
The team’s hiring “immediately bolsters our occupier advisory platform,” said Matt Chatham, Cushman’s president of occupier advisory services.
“This is another example of a strategic investment that enhances the reach of our services,” Chatham said in a statement. “For our clients, it means deepening our ability to deliver solutions to support their business objectives around the world.”