Property advisor Cushman & Wakefield has launched a dedicated automotive practice. Jeffrey Green, a New York based Managing Director within the firm’s Global Occupier Services business, has been tasked with leading the new service offering.
“The automotive industry is on the verge of a revolution, sparked by disruptive, technology-driven trends such as diverse mobility, autonomous driving, electrification and connectivity,” says Green. In addition, the market is facing large other growth areas – examples include the emergence of captive finance, the opening up of new markets such as Iran and global growth in light vehicle demand fuelled by the rise of middle-income classes in emerging markets – while at the same time development such as regulation and sustainability requirements are changing dynamics in the marketplace.
In addition to inherent growth within existing automotive and supply manufacturers, Green sees the market entry of non-traditional players like Google, Apple, Microsoft and Panasonic as another factor that may reshape the industry in the coming years.
The joining of forces of the various trends will, according to Green, result in an increased need for commercial real estate services globally from the automotive sector. In a bid to tap into the potential, Green has bundled the firm’s automotive expertise – Cushman & Wakefield already works with major names such as Toyota, BMW, FCA, Mercedes Benz, Hyundai and JLR – into a dedicated, global unit. The new platform, internally known as the Automotive Speciality Practice Group, will work for manufacturers, suppliers, distributors and retailers, and internally leverage the expertise of other Cushman & Wakefield practices such as Technology, Ports & Intermodal, Supply Chain, 3PL and Build to Suit.
“Our professionals are experts in leasing, purchasing and selling automotive-use properties – involved with millions of square feet of transactions a year – with expertise that goes beyond local real estate markets,” says Green.
Asked for how Cushman & Wakefield will set itself apart from the other property consultancy players in the market, Green says, “What differentiates us is our collaborative approach and diverse expertise which enables us to assist companies along the entire supply chain, from production to point of sale.”