Property Giant to Buy Long Beach Brokerage

Long Beach commercial real estate brokerage Matlow-Kennedy Commercial Real Estate Services is being acquired by property services giant Cushman & Wakefield. Financial terms of the deal, which will take effect Jan. 1, were not disclosed. Matlow-Kennedy’s 16 brokers focus on office and industrial properties in an area stretching from the South Bay to Orange County. President Kimball Wasick, who will become a managing director at Cushman & Wakefield, said the affiliation will help them offer clients more resources. Matlow-Kennedy Commercial was formed about seven years ago, when the South Bay operations of Los Angeles-based Matlow-Kennedy Corp. became independent. New York-based Cushman & Wakefield, which employs 10,000 real estate professionals in 46 nations, is owned mostly by Rockefeller Group, a subsidiary of Japan’s Mitsubishi Estate Co.