CBRE takes over as top US I-sales brokerage for first time since 2013

Deal volume plummeted in first half of the year

New York /
Aug.August 16, 2017 08:14 AM

CBRE took over the top spot as the country’s most active investment sales brokerage for the first time since 2013 as overall deal volume continued to drop.

The brokerage expanded its market share in commercial property investment sales to 23.2 percent in the first half of the year from 22.9 last year, although its deal dollar volume fell by 1 percent to $22.6 billion, Real Estate Alert reported. It took over the top spot largely because Eastdil Secured saw its deal volume plummet by 19 percent to $20.3 billion (a market share of 20.9 percent) in the wake of last year’s departure of star brokers Doug Harmon and Adam Spies to Cushman & Wakefield.

In third place, HFF increased its deal volume by 19 percent to $14.8 billion and fourth place Newmark Knight Frank saw a 67 percent jump to $10.7 billion. REA’s ranking includes deals over $25 million.

CBRE also topped REA’s office sales ranking last month.

Investment sales fell 8.8 percent year-over-year after falling 3 percent a year earlier. In New York, deal volume plummeted 55 percent to $9.7 billion, the steepest decline since 2009. Newmark president Jimmy Kuhn said this reflects owners being increasingly unwilling to sell. “That doesn’t mean the New York market is unhealthy,” he said. “Just the opposite. New York properties have become the replacement for what blue chip stocks were 50 years ago.”

The Real Deal recently broke down the biggest deals that didn’t happen in the first half of the year. [REA] — Konrad Putzier


Related Articles

arrow_forward_ios
Clockwise from top left: 162 West 13th Street, 325 Avenue Y in Brooklyn, 1281 Viele Avenue in the Bronx (Credit: Google Maps)
Here’s what the $10M-$30M NYC investment sales market looked like last week
Here’s what the $10M-$30M NYC investment sales market looked like last week
Tishman Speyer CEO  Rob Speyer and The Spiral as seen on January 21, 2021 (Photos via Getty Images; Illustration by Kevin Rebong)
Tishman Speyer’s half-empty Hudson Yards tower tops out
Tishman Speyer’s half-empty Hudson Yards tower tops out
Tishman Speyer CEO Rob Speyer and Latch CEO Luke Schoenfelder (Getty; Latch)
Latch to go public via Tishman Speyer’s SPAC
Latch to go public via Tishman Speyer’s SPAC
(Photo illustration by The Real Deal)
Hard money, hard decisions: Nonbank lenders face pressure to deal with problem loans
Hard money, hard decisions: Nonbank lenders face pressure to deal with problem loans
Mayor Bill de Blasio and Gov. Andrew Cuomo (Getty; iStock)
Investment sales fell by half in December to finish year down 48%
Investment sales fell by half in December to finish year down 48%
Freshly CEO Michael Wystrach and 28 East 28th Street (Photos via Twitter; Google Maps)
Freshly inks big lease in NoMad
Freshly inks big lease in NoMad
From left: Isaac Zion with JMC Holdings' Matthew Cassin (left) and David Taylor (right) (Photos via SL Green; JMC)
Former SL Green exec Isaac Zion joins Acram Group
Former SL Green exec Isaac Zion joins Acram Group
(Photo illustration by The Real Deal)
Inside mall owner Namdar’s rapid growth story
Inside mall owner Namdar’s rapid growth story
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...