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

Deal volume plummeted in first half of the year

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

CBRE’s Darcy Stacom and William Shanahan

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

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

Amazon leases nearly 154 million square feet of warehouse space compared to the 4 million square feet it owns (Credit: iStock)

How Amazon became the leasing king of e-commerce

51 West 52nd Street and ViacomCBS CEO Bob Bakish (Credit: Google Maps and Getty Images)

Following merger, Viacom could sell CBS’ Midtown HQ

From left: 86-08 Queens Boulevard, 169 First Avenue and 3540 Decatur Avenue (Credit: Google Maps)

Raymour & Flanagan purchase tops week’s mid-market investment sales

Renderings of The William Vale and Denizen Bushwick with a Tel Aviv Stock Exchange ticker

All Year eyes sale of William Vale to pay off bonds

Breather CEO Bryan Murphy (Credit: LinkedIn and iStock)

Breather bloodbath: Flex-office startup fires 17% of staff

19-40 Hazen Street in Queens (Credit: Google Maps)

Art gallery linked to lone mid-market sale in NYC this week

809 First Avenue and QIA CEO Mansoor Bin Ebrahim Al-Mahmoud (Credit: Google Maps)

Qatar state fund drops $91M on property near UN