|Last Quarterly Update:||3/4/2013|
|SIC Codes:||6512, 6531|
|NAICS Codes:||531210, 531312|
|Industry Overview||Trends & Challenges||Industry Forecast|
|Quarterly Industry Update||Call Prep Questions||Website & Media Links|
|Business Challenges||Financial Information||Glossary & Acronyms|
Companies in this industry act as agents in the buying and selling of commercial real estate, in addition to managing nonresidential properties for owners. Major companies include CBRE Group, Cushman & Wakefield, Eastdil Secured, Jones Lang LaSalle, and Newmark Grubb Knight Frank, (all US-based), as well as Countrywide and Savills (both in the UK).
The global commercial real estate industry sees transaction volume of about $400 billion per year, according to a study by Jones Lang LaSalle. Real estate standards and practices for leased and owned spaces differ from country to country.
The US commercial real estate brokerage and management industry includes about 30,000 companies with combined annual revenue of about $40 billion and is forecast to grow at a moderate rate over the next two years. Key growth drivers include economic recovery and increases in hiring.
The industry includes sales and leasing brokers and agents for nonresidential property, as well as property managers. Many companies combine these functions. Owners of commercial property who perform their own leasing and property management aren't included in this industry. Commercial real estate financing is not included in this industry.
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 full range of services in multiple markets. Small ...
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