Leading Phoenix Brokerage Team On Board at C&W

The team has closed more than 2,000 leases and sales representing in excess of 19 million sf and values of about $1.3 billion. Each year, they consistently rank at the top or in second place for their deal flow.

James N. Wentworth, senior managing director of the Phoenix office of Cushman & Wakefield, tells GlobeSt.com that the move "sent shockwaves through the brokerage community." Downey has 20 years in the business and Jacobs, 15.

Grubb & Ellis executives in New York City and Phoenix declined to comment on the team's exodus.

Wentworth, Downey and Jacobs worked together from 1992 to 1994. Wentworth, in fact, was managing the Grubb & Ellis office. All three confided the experience was so positive that Downey and Jacobs were looking for an opportunity to work with Wentworth again. "Jim Wentworth has a stellar reputation in Phoenix," says Downey. Jacobs, who spends about half of his time representing building owners, says a client poll also supported the change.

Both brokers denied the move had anything to do with the CB Richard Ellis move to buy out Grubb & Ellis. The pair said it was sheer coincidence that their exit came at the same that the talks broke down. But, Wentworth did say the opportunity to work with a "privately held company appealed to them."

The move to C&W also comes with the perk of working on national accounts, Wentworth says. The firm's international presence represents another bonus. "We want to further our reach," says Downey, adding the new network and relationships will help further their practice.

Downey and Jacobs has some heavy hitters on their client list. The lineup includes Education Management Corp., Fujitsu Business Communications, TriWest Healthcare Alliance, Del Webb/Pulte, Verizon, PriceWaterhouse Coopers, Johnson & Johnson and Kraft. Their building owner roster includes Crescent Real Estate Equities, Gaedeke Landers, Presidio Investments and DMB Associates.