It was another year of robust growth for commercial real estate brokerage firms. Increases in investment sales and leasing activity enabled many of the firms on our list to grow their transaction volumes by 15 percent or more, with some firms experiencing particularly robust growth rates.
The top dog on our list remains CBRE Group Inc. It is the 11th consecutive year that CBRE has lead the industry in total transaction volume. The firm reported a total volume of $233.30 billion in 2013, a 17.7 percent increase over 2012’s figure of $189.80 billion. That leaves it more than $60 billion ahead of its closest competitor, the newly re-christened JLL. However, JLL nearly tripled CBRE’s growth rate in 2013. The firm reported $162.12 billion in total transactions, up 48.9 percent over 2012’s total of $108.91 billion. Meanwhile, the number three firm on the list, Cushman & Wakefield, saw its volume grow from $88.40 billion 2012 to $115.00 billion in 2013, a growth rate of 30.1 percent.
Newmark Grubb Knight Frank and Colliers International round out our top five, but the two firms swapped positions from last year. Newmark Grubb Knight Frank was able to leapfrog Colliers thanks to a 19.5 percent increase in its transaction volume, from $69.84 billion to $83.43 billion. Colliers had more modest growth, rising 5.6 percent from $71.20 billion in 2012 to $75.15 billion in 2013.
Check the full ranking, which includes nearly 50 firms overall.
This ranking is based on responses to NREI’s Top Brokerage survey, which was conducted via email in February and March 2014. Brokers were asked to provide the total dollar value of leasing transactions and investment sales globally in 2013. The totals were combined to determine the company’s ranking.
10. Cassidy Turley
Total: $32.60 billion
Cassidy Turley's totals included $18.5 billion in leases and $14.1 billion in investment sales. Of that total, $25.8 billion of activity took place in the United States.
9. TCN Worldwide
Total: $38.77 billion
TCN Worldwide's totals included $19.11 billion in leases and $19.66 billion in investment sales. Overall, the firm completed 13,477 transactions globally in 2013.
8. iCore Global
Total: $49.50 billion
iCORE Global's totals included $26.80 billion in leases and $22.70 billion in investment sales. Most of that activity occurred outside the U.S., although the company also completed $10.8 billion in transactions in America.
Total: $58.00 billion
Studley's totals included $56.00 billion in leases and $2.00 billion in investment sales. The bulk of that activity took place in the U.S. Overall, domestic activity accounted for $52.00 billion of the firm's total.
6. Eastdil Secured
Total: $61.50 billion
Eastdil Secured is exclusively an investment sales broker. It also predominantly operates within the U.S. with $60.1 billion of its global total occurring domestically. The firm brokered 286 transactions in 2013 and 282 of those were on U.S. soil.
5. Colliers International
Total: $75.15 billion
Colliers International's totals included $29.65 billion in leases and $45.50 billion in investment sales. The U.S. accounted for about one-third of the firm's activity, $27.62 billion in all. On that transaction volume, the firm posted $2.1 billion in revenues.
4. Newmark Grubb Knight Frank
Total: $83.43 billion
Newmark Grubb Knight Frank did not provide a breakdown between sales and leasing activity.
3. Cushman & Wakefield
Total: $115.00 billion
Cushman & Wakefield's totals included $55.30 billion in leases and $59.70 billion in investment sales. Just more than half of the firm's activity took place in the United States--$60 billion total. The firm brokered 37,857 transactions globally.
2. JLL (Jones Lang LaSalle)
Total: $162.12 billion
The newly rechristened JLL's totals included $55.87 billion in leases and $106.26 billion in investment sales. U.S. activity accounted for $68.9 billion of the total. The firm also posted $4.46 billion in revenues and $284.8 million in income in 2013.
1. CBRE Group
Total: $223.30 billion
CBRE topped our rankings for the 11th straight year on the strength of $83.20 billion in leasing activity and $140.10 billion in investment sales. Just over half of that activity took place in the U.S., amounting to $134.00 billion. The brokerage giant also posted $7.2 billion in revenues and $474.3 million in income in 2013.