Global real estate services firm Cushman & Wakefield announced a new partnership with Stanford University’s Disruptive Technology and Digital Cities Program.
The main aim of the collaboration is to identify, develop and launch transformative technologies within the commercial real estate space.
The partnership brings together Stanford’s academic and institutional resources and Cushman & Wakefield’s industry-specific knowledge and expertise. The shared focus will be to assess emerging technologies and societal trends, with the goal of leveraging these findings to develop practical applications in areas such as 3D visual modeling, property valuation, smart building operations and advanced data analytics.
Cushman & Wakefield Americas CEO Shawn Mobley said the partnership with Stanford is an important component of the firm’s larger innovation and technology strategy.
“This collaboration with Stanford University underscores Cushman & Wakefield’s commitment to bringing new and cutting-edge technologies and insights to the commercial real estate industry, our people and our clients,” Mobley said.
Michael Steep, executive director of the Digital Cities Program and a Stanford adjunct professor, added that the partnership will also assist Cushman & Wakefield in identifying emerging technologies that could alter its practices or operating model.
“Cushman & Wakefield will work with the best and brightest Stanford University faculty and Ph.Ds. on a wide variety of projects that could lead to new innovations and best practices across real estate,” Steep said.
As part of the partnership, Cushman & Wakefield leaders will meet regularly with Stanford faculty and staff to discuss program updates and share insights or developments across industries. Cushman & Wakefield will become actively involved in several current research efforts underway within the program, including studies on 3D modeling, advanced materials and mobility.
Existing corporate members of the program include Amazon Web Services, Bechtel, Booz Allen Hamilton, CIBC, Cityzenith, Daikin, Deloitte, Hitachi, Microsoft, Prologis, Royal Bank of Canada and Visa.
“Our investment in technology through partnerships provides us with insights that help us to better advise our clients on how to manage their property,” said Melanie Kirkwood Ruiz, Cushman & Wakefield Americas CIO. “These relationships enable us to use lessons drawn from the best innovators across several disciplines and provide us first hand access to next generation tools designed for the future.”
Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries.