|Last Quarterly Update:||11/7/2016|
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Companies in this industry act as agents in the buying, leasing, and selling of commercial real estate. Major companies include CBRE Group, Colliers International, Cushman & Wakefield, Jones Lang LaSalle (JLL), and Newmark Grubb Knight Frank (all US-based), as well as Countrywide and Savills (both in the UK) and E-House China Holdings.
Global commercial property sales, which drive demand for this industry, have been rising, and industry transaction volume is about $700 billion per year, according to JLL. The improving global outlook is leading real estate investors to look outside their home markets for opportunities across the spectrum of locations and sectors.
The US commercial real estate brokerage industry includes about 18,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $18 billion. The industry includes sales and leasing brokers and agents for nonresidential property. Commercial real estate financing is not included in this industry.
Commercial real estate management is covered in a separate industry profile. Some companies offer both brokerage and management services.
Demand, which is driven by the volume of commercial real estate transactions, is heavily influenced by real estate vacancy rates. The profitability of individual companies depends on efficient operations. Large companies have advantages in performing a range of services in multiple markets. Small companies can compete effectively by specializing in local markets. The US industry is fragmented; the 50 largest companies ...
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