Green Street
Real Estate Alert: Broker Rankings Special Supplement

Real Estate Alert: Broker Rankings Special Supplement

Sales of smaller commercial real estate properties fell 24% in 2023, but the continued resiliency of the private-capital space resulted in volume that easily outpaced pre-pandemic figures. Some $82.70 billion of properties worth $5 million to $25 million changed hands last year, down from $109.24 billion in the prior year, according to Real Estate Alert’s fourth annual survey of the market segment. 

And while it’s the largest year-over-year decrease since the newsletter began tracking smaller deals in 2019, it far outpaces the 52% drop in sales of properties valued at $25 million and up. In addition, sales volume last year was still 20% above the $68.77 billion tallied in 2019, the last full year before the pandemic. 

Property sales valued at $5 million to $25 million continued to hold up better than the institutional marketplace in 2023 —CBRE claimed the crown with an 18.6% share of brokered trades, based on $8.77 billion of activity,” Real Estate Alert reported. Rounding out the top five positions in the broker rankings were 2) Marcus & Millichap, 3) Jones Lang LaSalle, 4) Cushman & Wakefield and 5) Colliers. 

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