Do you want to find out the top 10 commercial property management companies? Read on to know more about it.
When you manage your properties yourself is one way to utilize your profits from commercial real estate, as it doesn’t come with an expensive cost.
Especially for investors with multiple or many buildings, property management often isn’t a feasible thing to handle in-house on your own.
Moreover, this is true for someone who owns a specialized asset, like office buildings, medical offices or distribution centers’.
As a result, the third-party property management sector is alive and well, it’s not just huge investors with millions of square feet under ownership.
However, professional property management can enhance your investment’s value and it is also required by the terms of your commercial property loan.
So in this article, you will learn about the best commercial property management companies.
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Top 10 Companies Commercial Property Management
Table of Contents
1. JLL
JLL comes in first place on the list, owing to its 2.7 billion square feet under management, this is a huge increase of 33.5% over the previous year.
Moreover, the company’s property management division is dedicated to the industrial, office and retail sectors. However, beyond this, the firm also handles commercial leasing and investment activity.
2. Colliers
Colliers International takes the second spot on the list. Its 2.5 billion square foot management portfolio is impressive and its growth started in 2021 and then keeps on increasing by 22.9%.
Also, the firm keeps expanding, recently it acquired Arcadia Management, along with its 60 million-square-foot portfolio. Moreover, Colliers operates in more than 60 countries today and does virtually different commercial real estate.
3. Cushman & Wakefield
They are part of the most recognisable companies in the commercial real estate world, Cushman & Wakefield is also one of the biggest properties.
They had 4.8 billion square feet in their portfolio at the start of last year. The firm had massive growth in recent years, particularly in the multifamily sector after it acquired Pinnacle Property Management Services.
Moreover, the company also manages a sizable portfolio of office, industrial and retail assets, spanning the globe from Kosovo to Kazakhstan.
4. Lincoln Property Company
Dallas-based Lincoln Property Company was established in 1965, and the firm has been active as a developer and manager ever since.
Moreover, the company have close to 300 million square feet in its management portfolio, which is an impressive 17% growth in one year. LPC focuses on a broad variety of commercial properties, from multifamily to modern industrial facilities.
5. Newmark
As many are now familiar with Newmark’s leasing or capital markets brokerage side, the firm is heavily involved in property management to the tune of 205 million square feet.
Moreover, the company is involved with many types of properties from office, industrial and retail to more specialized kinds of assets like data centres.
Also, given its size, Newmark’s annual growth rate of 12% is particularly impressive landing it in fifth place.
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6. Foundry Commercial
Foundry Commercial oversees nearly 40 million square feet of office, retail and industrial real estate across much of the Sun Belt region from California to North Carolina.
Moreover, the firm expanded its portfolio by a little more than 13% in 221 and is set to continue its growth. However, beyond property management, the foundry is an active investor and developer, particularly in the Orlando area.
7. CBRE
CBRE is the world’s largest commercial real estate property management company. Also, it collectively manages approximately 2.7 billion square feet in more than 40 countries.
For the growth rate puts it further down our list. Still even 1.4% growth is truly impressive given the size of the portfolio. However, CBRE manages nearly all kinds of commercial property with one exception: the firm does not handle multifamily assets.
8. HSA Commercial Real Estate
HSA Commercial Real Estate has a mixture of more than 150 properties across the country.
Moreover, based in downtown Chicago, the firm manages a rather diverse portfolio of nearly 16 million square feet which are retail, office, industrial and medical facilities.
However, it has an extensive history as an active commercial real estate developer with more than 100 million square feet of projects completed or underway.
9. SVN International
SVN International based in Boston is a full-service commercial real estate company that handles virtually all kinds of properties from multifamily to marinas and everything in between.
As the bulk of the firm’s activity is in the U.S. the company has over 200 global offices in six countries. Today, SVN has close to 57 million square feet in its management portfolio, according to its website.
10. Weitzman
It was founded in 1971, Weitzman has a long history as the retail commercial property manager.
Moreover, the firm is focused on the four major Texas metropolitan areas, where it has more than 24 million square feet of retail and office space in its management portfolio.
Also, to be more impressive is the fact that the group has expanded at a rapid pace of about 10% over the year.
Benefits Of Hiring a Commercial Property Management Company
Hiring a commercial property management company can give several benefits which are:
- To make sure that the property stays rented.
- Evicting non-paying or disruptive tenants.
- To maintain the property which involves hiring an external contractor.
- To pay insurance and other fees.
- Maximizing leasing income.
- To ensure that tenants are happy.
READ MORE: Top 10 Commercial Property Management Companies of 2023
Conclusion
As the top 10 commercial property management companies are mentioned above, you can select anyone suitable for you.
