C&W alliance member Pyramid Brokerage merges with UCG

Pyramid Brokerage Company, Cushman & Wakefield's upstate alliance partner, expands into the Hudson Valley region and Columbia, Greene, Ulster, Delaware, Sullivan, Orange and Rockland counties with its acquisition of Upstate Commercial Group (UCG). Upon the merger of the two firms, Steve Perfit, president of UCG, becomes managing director of Pyramid Brokerage's Hudson Valley operations. All current UCG employees will join Pyramid Brokerage as well. "Until now, the Hudson Valley region has been a very fragmented marketplace," he said. "This will change it overnight. There's no other firm in the region like Pyramid Brokerage, and in my opinion, there's no other firm in the world like Cushman & Wakefield," said Perfit. "Hudson Valley is clearly becoming an emerging corridor for economic development. Manhattan's escalating rents and commercial space shortages are squeezing businesses up the river. And they're finding lower costs and excellent transportation into and out of N.Y.C., so it's a natural development," said Perfit. In August, Pyramid Brokerage became Cushman & Wakefield's exclusive alliance member for all of upstate. Pyramid is one of 21 U.S. members of the alliance consisting of independently owned and operated firms.