Why Did Cushman & Wakefield Invest in a Studio?

National real estate investment/management services giant Cushman & Wakefield has invested mightily in an unusual property—a studio—in its New York City hometown.

But it’s not the kind of studio that normally would be associated with any real estate organization, large or small.

In an effort to strengthen its brand beyond the business pages, Cushman has purchased the naming rights in a news studio at WCBS-AM, a highly rated all-news station that is the flagship owned-and-operated outlet in the 1000-plus affiliate CBS Radio Network.

Beginning early this month, at the top of the hour after CBS network reports, local anchors announce that they are bringing listeners updates from the Cushman & Wakefield Studio at the "CBS Hudson Square Broadcast Center," at 345 Hudson St., near the Holland Tunnel.

The announcement is repeated frequently.

While there’s little notice paid anymore to names being swapped out for stadiums and arena, an expansive private real estate services firm sponsoring a news studio at one of the nation’s most prominent radio broadcast stations raised eyebrows about coverage conflicts, particularly for a station that prominently sponsors business events and partners with the Wall Street Journal.

Radio industry veterans lamented the idea but also said it’s nothing new—besides general sponsorships, the announcers’ booth on WCBS’s longtime Yankees broadcasts have been named.

The Yankees recently announced they would be changing broadcast stations, so perhaps naming the headquarters studio was a logical next step for the station.

And the same goes for Cushman & Wakefield. Last year, the firm, which operates in 60 countries, bought the name of a theater in its own honor, also in its backyard: the one-year-old downtown Brooklyn Barclays Center calls its half-house arrangement the Cushman & Wakefield Theater.

How much did Cushman pay for the news studio name? We’ll post it as soon as we hear back from the firm or from WCBS.

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