Cushwake Research Paper


David Bitner has Joined Cushman & Wakefield in San Francisco as Senior Director of Capital Markets Research, Americas

David Bitner is the newest team member of Cushman & Wakefield’s Research Center of Excellence for the Americas. He will report directly to Kevin Thorpe, Global Chief Economist, Head of Research for the Americas for day-to-day projects and initiatives.

Included in David’s area of responsibility is producing capital markets thought leadership content for the America’s Center of Excellence, directing a program of market presentations, written analysis, surveys, forecasts and data collection to support the capital markets business and advance the strategic plan in Americas Research.

He will also be a key point of contact and spokesperson for Cushman & Wakefield’s business in the Americas on Capital Markets trends and related topics. In this capacity, David will accompany brokers to client pitches/presentations in the Americas, and speak at internal client meetings and industry events.

David comes to Cushman & Wakefield from Makena Capital, a leading endowment-style investment manager located in Palo Alto.

At Makena, he worked closely with the Global Investment Strategist to develop the fund’s views on macroeconomic and market developments across asset classes and geographies, and subsequently translated these into investible strategies. In this role, he researched, developed and produced a wide range of white papers, presentations and investor letters for internal and external clients, including some of the largest sovereign wealth funds.

Prior to Makena, David was a corporate finance and restructuring investment banker at Bank of America Merrill Lynch in New York.

A Bay Area native, David recently completed his MBA at the University of California Berkeley Haas School of Business. Previously, he earned his BA in Classical Civilizations from Duke University.

David can be reached at

Americas Research, Capital Markets News, Cushwake, Head of Research, San Francisco

SALT LAKE CITY, Sept. 12, 2017 — According to new research from Cushman & Wakefield Commerce, the apartment market in the Salt Lake City area is currently at historic levels. Mid-year figures show the vacancy rate is 2.6 percent, which is the lowest ever reported.

“For the third consecutive year, the apartment communities in the Salt Lake Area are considered fully occupied,” said Kip Paul Executive Director, Investment Sales at Cushman & Wakefield. “This low vacancy is fueling a record-breaking level of construction of new apartment buildings. This begs the question of whether the market is over-building. The data shows that even with previously unmatched levels of development, the demand is such that there is no sign of oversupply in the foreseeable future and property investment, particularly in midsize communities is particularly attractive to buyers.”

Paul said midsize apartment communities (100-250 units), for the first time in recent history, are driving the most favorable market conditions in the county. Midsize apartment communities have the highest rents on a square foot basis and the lowest vacancies with an average rate per square foot of $1.25 and a vacancy rate of 2.2 percent.

Salt Lake County has 35 apartment communities with 6,546 individual units under construction. Adding such levels of new, high-quality inventory will push vacancy rates higher, but with low vacancy rates and strong forecasted economic growth, the overall market conditions should remain favorable well into mid-year 2018.

The Cushman & Wakefield Apartment Market Report for the Greater Salt Lake Area is available here.

About Cushman & Wakefield Commerce
Cushman & Wakefield Commerce operates the Cushman & Wakefield business in Nevada, Utah and Washington.  As part of the Cushman & Wakefield global platform, the firm offers innovative commercial real estate solutions to occupier and investor clients, offering transaction services, capital markets services, occupier and investor services, and real estate advisory. With nearly 300 employees, 9 million sq. ft. of property management and transaction value of more than $2.8 billion, the firm is a leading commercial real estate resource in the Intermountain West region and Pacific Northwest. Learn more at

About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit, or follow @CushWake on Twitter.

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