Top 10 Commercial Property Management Companies

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Introduction

As insurance premiums and taxes hit commercial real estate harder than ever this year, the costs associated with managing your property will decrease. Aim to reduce overhead as much as you can. A good commercial property manager can add a lot of value. It can change everything. The effect is often to reduce the cost.

Commercial Property Management Companies

Table of Contents

You may not have the right property manager for your property. We do not refer to any commercial property management company. But this article will help you see who and what they are focusing on.

Top 10 Commercial Property Growth in 2024

The percentage of square footage development based on a survey conducted by Commercial Property Executive is shown in the following tables.

RankCompany NamesYoY Growth
1Avison Young20%
2The RMR Group25%
3Stream Realty21%
4Jones Lang LaSalle (JLL)12%
5Related25%
6Cushman & Wakefield6%
7Lee & Associates12%
8Newmark Group6%
9CBRE Group3%
10Foundry Commercial9%

Avison Young

A top commercial property management firm is Avison Young. Based in Toronto, the company has a presence in 19 countries, from Austria to Vietnam. Their total managed portfolio is an impressive 283 million square feet. Also, their fastest growth in the last year was 20%.

The group mainly focuses on three asset types. Office, retail, and industrial real estate. Avison Young has been celebrated for its sustainable approach to property management and construction operations with awards from the Building Owners and Managers Association (BOMA). Also named to Canada’s Best Managed Companies list for 12 consecutive years.

The RMR Group

Headquartered in Newton, Massachusetts, RMR (Revelstoke Mountain Resort) Group is a big company you may not know about. Founded in 1986, the company today has $41 billion in assets under management, or 114 million square feet. The group mainly manages properties owned by REITs. Its portfolio has grown by 25% in the past year.

Stream Realty

Based in Dallas, Stream Realty Partners is a force to be reckoned with. By the end of 2022, the company will have expanded to 159 million square feet under management. This is a significant growth of 21% over the previous year. Stream manages everything from land services to office, retail, industrial, and healthcare properties.

Jones Lang LaSalle (JLL)

Jones Lang LaSalle (JLL) Incorporated is a global real estate services company founded in the United Kingdom with offices in 80 countries. Last year’s winner secured fourth place this year. JLL is considered a powerhouse, with over 3 billion square feet under management.

Its management portfolio growth rate is 12%. The 33.5% reported for last year’s ranking is a fairly rapid increase. JLL is laser-focused on office, retail, and industrial property management.

Landing in fifth place, Related Companies has a big name. Especially if you are familiar with New York office real estate. The firm is known to be one of the developers behind Hudson Yards. 18 million-square-foot multi-building Manhattan campus (to be fair, “campus” isn’t too big a word).

Related also performs asset management for its own assets and as a third-party manager. It’s the smallest on our list, but it’s grown its footprint by a quarter in just over a year. Before you think they are active in New York, they operate several regional offices across the country supporting properties.

Cushman & Wakefield

Cushman & Wakefield has approximately 5.1 billion square feet under management by the end of 2022. The company continues to expand at a steady rate every year. It has grown its global footprint by 6% in the last year alone. Cushman manages nearly every type of property, from more “standard” properties like offices and warehouses to more specialized buildings including data centers, hospitals and more.

Lee & Associates

Lee & Associates has been operating since 1979 in Orange County, California. Rapidly expanding to a nationwide presence by 2024. The company has provided more than 70 property management professionals. There are now more than 62 million square feet under management. Their property focus includes multifamily, office, retail, industrial, and hotel properties.

Newmark Group

Newmark manages approximately 215 million square feet of office space. There are industrial and retail properties. Following a 6% growth over last year, it ranked eighth this year. The company does everything for its properties, handling anything from facilities management to accounting and contract management.

CBRE Group

CBRE Group, Inc. An American commercial real estate services and investment firm. The acronym CBRE stands for Coldwell Banker Richard Ellis. It is the world’s largest commercial real estate services and investment firm.

CBRE stands at the ninth position. But they are a big company. Of course, even though they are the largest property management company in the world, that doesn’t make them the best.

However, they are still strong contenders on our list. With approximately 7.3 billion square feet under management,. Try a market or property type where CBRE is not active. You will have to search far and wide.

Foundry Commercial

Orlando-based Foundry Commercial was sixth on our list last year but has now made its slide to 10th. That means their qualifications are reduced. The company has expanded greatly in recent years. Initially focused solely on Florida and surrounding states, the company now has multiple properties from New Hampshire to Southern California.

Conclusion

These companies vary in their portfolio mix. Some are specifically dedicated to commercial management. Others have different characteristics. These rankings are based on self-reported data. Slight differences are likely due to the nature of the study and the time elapsed since its publication. For more information, visit Openplot.

Also read: How Do You Know the Difference Between Residential and Commercial Properties?

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