Cushman & Wakefield hires CBRE's Doug Middleton to lead New York capital markets

Cushman & Wakefield hired CBRE's Doug Middleton to lead its New York institutional capital markets business, Commercial Observer first reported. Jack Stillwagon joins him as executive managing director; both started in their new roles the same day.

Middleton spent eight years at CBRE, most recently running its Investment Properties Institutional Group, with Stillwagon working alongside him on office, residential and industrial transactions. Stillwagon joined CBRE in 2021 after roles at Waterfall Properties and Atlantic Creek Real Estate Partners; Middleton's earlier stop was Eastdil Secured, where he was a director of investment sales.

The two will work from 1290 Avenue of the Americas and collaborate with Cushman & Wakefield's teams nationally. "New York is essential to Cushman & Wakefield's institutional capital markets strategy," Miles Treaster, president of Americas Capital Markets, said in a statement, citing the pair's "deep transaction experience and client relationships."

The New York institutional capital markets leadership role had been largely open since Adam Spies and Doug Harmon left for Newmark in February 2023, according to Commercial Observer. That left a gap of more than three years until this week's hires.

Commercial Observer puts Middleton's own record at billions of dollars of transactions, including the $455 million sale of 450 Park Avenue to SL Green in April 2022. It also lists Sotheby's $410 million sale of 1334 York Avenue to Weill Cornell Medicine in 2025.