IE Business Daily Business news for the Inland Empire.
DTZ, commercial real estate firm with clients throughout the world, has announced it plans to buy Cushman & Wakefield.
The Chicago-based company will pay $2.04 billion for Cushman & Wakefield, creating a single company with $5.5 billion in yearly revenue and that will oversee more than four billion square feet of real estate worldwide, according to multiple published report.
The transaction was announced Monday.
Both sides expect to complete the transaction by the end of this year. The new company will be called Cushman & Wakefield and will have approximately 43,000 employees, according to reports.
New York-based Cushman & Wakefield is one of the largest commercial real estate firms in the United States. Its Inland Empire office is located in Ontario.
