NEW YORK CITY-Cushman & Wakefield said Monday that 2010revenues showed strong growth over 2009 results, tying the gains toactivity in the world’s major business districts. Sales and leasingvolume rose $14 billion worldwide to reach $67 billion, while netincome for the year was $25.7 million, compared to a net loss of$115.8 million in 2009.

“Last year represented the start of a global recovery incommercial real estate services prompted by decision making withregard to pent-up demand for capital allocation and to provide foroccupier space needs,” Glenn Rufrano, C&W’s president and CEO,says in a release. Demand for “core assets in core markets” drovemuch of the capital activity in ’10, he adds, while increasedavailability of capital was also a factor.

The company figured in more than 27,000 property sales andleasing transactions last year, with an aggregate value of nearly$67 billion. These included the $930-million sale of the JohnHancock Tower in Boston to Boston Properties; the approximately$616-million acquisition of the Porta Di Roma shopping center inItaly by Allianz and Corio; and the $1.1-billion sale ofapproximately 2,000 residential and commercial ADC loans.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.