World Trade Center – Business Interruption Claims

Cushman & Wakefield valued the leasehold interest and the favorable economic position that a major financial institution lost as a result of the building’s destruction on 9/11. Cushman & Wakefield was involved in a number of similar claims regarding other buildings.

Damages as a Result of Breach of Contract

Cushman & Wakefield developed a damages model as a result of alleged breaches of contract and fiduciary duty involving eight malls under various stages of development and 32 other leasehold assets containing over 2.7 million square feet of rentable retail space. Issues involved over charges related to expenses, unearned development fees, the failure to complete construction on time and within budget and to sell or lease any of the 32 assets per the joint venture/partnership agreement.

Lender Liability Matter – Charleston, SC

Cushman & Wakefield calculated damages resulting from the suspension of construction funding and the plaintiff/developer’s inability to complete a luxury condominium project in Charleston, SC.  As a result of the delay, the developer was unable to complete construction and sell the units prior to the onset of the Great Recession.

Construction Defects and Contamination – Washington, DC

Cushman & Wakefield developed damages calculations due to construction defects that resulted in extensive water damage, mold, adverse publicity, reduced prices and sales velocity, and delayed completion of the luxury condominiums in Washington, D.C.

Master Plan Community – Las Vegas

Cushman & Wakefield represented a partner in a dispute regarding one of the largest master planned communities in Nevada. The community consisted of over 10,000 housing units, a regional mall site, and other existing properties.

Indigenous People’s Claim – New York State

Cushman & Wakefield was retained by an Indian nation regarding damages related to 250,000 acres in Upstate New York that were purchased between 1795 and 1825. This engagement involved research of property records and mortgages from the 18th and 19th centuries, development of land price indices, and the study of historical events that shaped the economy of Upstate New York such as bank panics, completion of the Erie Canal, and establishment of Buffalo as the initial Gateway to the West.

Cement Dust Contamination – Southern California

In a large class-action lawsuit, plaintiffs accused two cement manufacturers of causing, among other things, declines in home values located near the plants. The plaintiffs alleged that toxic dust, potentially containing Chromium 6, contaminated the air and soil in their neighborhoods. Using GIS tools and hedonic regression models, we analyzed the validity of alleged value diminution throughout the greater neighborhood. We also evaluated a number of other neighborhoods adjacent to sand and gravel operations to isolate potential value diminution resulting from toxic materials and emissions.

Trans Alaska Pipeline – Property Tax Appeal

Cushman & Wakefield prepared rebuttal reports on behalf of the owners and provided expert testimony on appropriate appraisal concepts and methods and generally recognized valuation principles applicable to the Trans Alaska Pipeline.

$2 Billion Claim for Damages against the State

In the aftermath of the financial crisis that occurred in 2008, a plan was developed to sell a number of state-owned office buildings, to offset lost tax revenues and budget shortfalls.  The state held an extensive bidding process and selected a buyer.  Due to a variety of factors including the buyer’s failure to pay the required earnest money, third-party lawsuits, and other factors, the sale was never consummated.  Cushman & Wakefield was retained by outside counsel to the state to evaluate the alleged damages claimed by the plaintiff/buyer resulting from the state’s decision to rescind the offer to sell.

Claim before the International Centre for the Settlement of Investment Disputes – Property Located Lima Peru

Cushman & Wakefield prepared a broad study of the Peruvian economy and real estate market and mega-projects throughout the world in a claim for lost profits resulting from the restrictions imposed by the government of Peru on the development of a master planned community consisting of condominiums, office buildings, hotels, a marina, rental apartments, and residential condominiums on the Pacific Coast on the outskirts of Lima.