Cushman & Wakefield (NYSE: CWK) is a global commercial real estate services company that provides advisory, leasing, capital markets, property management, and valuation services to real estate occupiers and investors. It generates revenue through transaction-based fees on leasing and capital markets deals, recurring service contracts for property and facilities management, and advisory and valuation assignments. The company is one of the top three real estate services providers globally as measured by revenue and workforce, competing directly with CBRE and JLL. As of the FY2025 10-K filed February 19, 2026, Cushman & Wakefield employed approximately 53,000 people across more than 350 offices in nearly 60 countries and managed approximately 6.5 billion square feet of commercial real estate globally. Revenue was $10.3 billion in FY2025, $9.4 billion in FY2024, and $9.5 billion in FY2023. The firm serves both multinational corporations and local clients across four service lines: Services, Leasing, Capital Markets, and Valuation and other services.

Revenue model

Transaction-based fees from commercial real estate leasing and capital markets brokerage, recurring fee income from property and facilities management service contracts, and advisory and valuation fees. Revenue is largely volume-dependent, tied to transaction activity and square footage under management.

Products and services

Four service lines as disclosed in the FY2025 10-K: (1) Services, which includes property, facilities, and project management; (2) Leasing, covering tenant and landlord representation; (3) Capital Markets, including investment sales, debt, and equity advisory; (4) Valuation and other services.

Customers and end markets

Commercial real estate occupiers (corporate tenants, multinational corporations) and real estate investors (owners, landlords, institutional investors). End markets span office, industrial, retail, and other commercial property types across nearly 60 countries.

Value-chain role

Intermediary and outsourced service provider sitting between real estate owners and occupiers. Cushman & Wakefield does not own real estate; it advises, transacts, and manages on behalf of clients.

Geographic exposure

Global footprint spanning nearly 60 countries with more than 350 offices as of the FY2025 10-K filed February 19, 2026. Serves both multinational and local clients.

Competitors

CBRE Group, Jones Lang LaSalle (JLL)

Source: SEC 10-K, filed 2026-02-19

Industry: Real Estate Peers: /entities/uokaf