The Real Deal Miami

Ranking the top U.S. commercial landlords

November 23, 2010 01:25PM


From left: the former Bank of America Tower in Miami, which LaSalle is about to purchase, and GGP’s Mizner Park in Boca Raton

ProLogis, the Denver, Co.-based public REIT with 479.7 million square feet of industrial space globally, is the top U.S. commercial property owner, according to a new survey from Businessweek.com. Coming in a distant second was mall owner Simon Property Group, which has 264 million square feet. (Simon’s bankrupt rival, General Growth Properties, was ranked fifth with 200 million square feet). In third place with a 260.5 million-square-foot portfolio was RREEF, the New York-based real estate investment management arm of Deutsche Bank, which was followed by Jones Lang LaSalle’s LaSalle Investment Management, which has 229.9 million square feet and is about to add to that tally with the purchase of the former Bank of America Tower in Miami. Other landlords to crack the top 10 included ING Clarion, whose 163.6 million square feet worth of commercial property holdings put the company at No. 6, and TIAA-CREF, No. 9, which just purchased Pfizer’s 685 Third Avenue in New York City and has 143 million square feet of commercial property globally. [Businessweek]