Cushman & Wakefield, one of the key players in self-storage real estate, is up for sale, according to the Wall Street Journal.

The Italian family who controls Cushman & Wakefield, one of the world’s biggest providers of real estate services, has put the company on the sale block as rising real estate prices boost the value of rivals, sources told the Journal.

Exor, the investment arm of the Agnelli family, has paved the way for Cushman & Wakefield to hire Goldman Sachs and Morgan Stanley in the quest for a buyer. Analysts told the Journal that Cushman & Wakefield could command a purchase price as high as $2 billion.

Exor owns an 81 percent stake in Cushman & Wakefield.

Chris Sonne
Chris Sonne leads the Self Storage Industry Group at Cushman & Wakefield.

The consulting practice within Cushman & Wakefield’s Self Storage Industry Group specializes in appraising self-storage real estate. Chris Sonne, executive managing director of Cushman & Wakefield, leads the group, which produces national and metro-level data about the self-storage real estate market. The team’s economic model forecasts demand for self-storage across the country.

“Determining the winners from the losers of the asset class is a function of local market conditions in the trade area. Consequently, the demand model is critical in the analysis of a self-storage property,” Cushman & Wakefield says.

Sonne’s team comprises two dozen consultants in the U.S. and England whose work in self-storage real estate includes research, valuation, market analysis and feasibility studies. Clients have included Public Storage, Extra Space Storage, SmartStop Self Storage, Bank of America, UBS and Wells Fargo.

Cushman & Wakefield also employs several self-storage brokers.

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