Cushman no longer handling office listings for Brookfield, Bloomberg reports

Brookfield Asset Management (BAM) fired Cushman & Wakefield (CWK) from handling its office and logistics listings in the U.S. Natalie Wong of Bloomberg reports. Cushman had been responsible for leasing office space at major Brookfield properties including New York’s Manhattan West development and 660 Fifth Ave., Wong notes. The firing comes after Cushman backed away from a deal to shift some of its offices from 1290 Avenue of the Americas to Brookfield’s redeveloped Manhattan skyscraper at 660 Fifth Ave., people familiar with the matter told Bloomberg. “We’re proud of the work and long-standing value our brokerage advisory professionals helped to build into our client’s portfolio,” Mike Boonshoft, a Cushman spokesman, said in an emailed statement to Bloomberg. “While completely surprised by this reaction, we consider disciplined management in the best interest of our firm, employees and shareholders.” Shares of Cushman & Wakefield are up 1% to $7.57 in late morning trading.