Another big deal: Cushman & Wakefield to buy Chicago office specialist J.F. McKinney + Associates

Jack McKinney

by Dan Rafter

Major changes to the Midwest commercial real estate industry keep coming. This time, it’s the news that Cushman & Wakefield has agreed to purchase J.F. McKinney + Associates in Chicago. Terms of this latest big deal were not released.

This announcement comes almost immediately after news broke that DTZ is considering purchasing Cushman & Wakefield for $2 billion. Also this month, Prologis and Norway’s Norges Bank Investment Management announced that it will buy KTR Capital Partners for $5.9 billion. That’s a big buy for Prologis: KTR owns nearly 70 million square feet of industrial real estate in 25 markets.

The Cushman & Wakefield purchase of J.F. McKinney + Associates is important to the Midwest, too. J.F. McKinney is a busy player in Chicago’s office leasing market. The firm represents more than 16 million square feet of Chicago-area office.

Many of the buildings that J.F. McKinney…