Peloton Commercial Real Estate has sold their Austin operations to Cushman & Wakefield. The purchase includes 5 million square feet of office, retail, industrial, and multi-use property in the Austin area.
Cushman & Wakefield will absorb 40 Austin-based Peloton employees, including Peloton’s now former partners: Kevin Granger, Brian Liverman, and Matt Frizzell. Operations in Dallas, Fort Worth, and Houston will remain unchanged.
“Austin continues to be one of the fastest-growing and most dynamic markets in the country,” said Andrew McDonald, president of Cushman & Wakefield’s West Region, via release. “Investing in Kevin, Brian, Matt and their first-class team brings Cushman & Wakefield an enhanced competitive edge in serving the Austin business community. From startups to corporate giants, our ability to serve local, national and global occupiers and investors in Austin has never been stronger.”
The acquisition is a welcomed expansion, according to Cushman & Wakefield’s Austin Managing Principal Spencer Hayes.
“I am delighted to welcome Peloton Austin and their accomplished team to Cushman & Wakefield,” said Hayes. “With our shared commitment to exceptional client service, I see this as a great cultural fit – one that will allow us to continue our growth in Austin, expand our existing, outstanding team, and advance our mission to deliver the most innovative, creative solutions to our clients.”