You can find our 2022 Top Property Managers ranking here.
As the question of how to safely return to work remains a major topic of conversation, a strong property management team is more crucial than ever. Whether they occupy office, industrial, retail, or hospitality buildings, businesses are relying on and collaborating with property managers to enact the most effective safety measures for employees and customers.
Rising to the Challenge of Reopening
By Madeline Winship, Senior Research Analyst, Yardi Matrix
As the world grapples with the challenge of reopening amidst the COVID-19 pandemic, commercial property management companies are playing a critical role in ensuring the safety and well-being of employees and customers. The Top 30 Commercial Property Management Companies of 2020 are at the forefront of this effort, implementing new best practices and creating specialized divisions dedicated to creating healthier environments.
A Mix of Third-Party Service Providers and Owner-Operators
The Top 30 Commercial Property Management Companies of 2020 list comprises a mix of third-party service providers and owner-operators. The top five companies exclusively offer third-party management services, with diversified portfolios across various asset classes both in the United States and internationally.
CBRE Group Inc. tops the list, managing approximately 6.8 billion square feet of commercial space in 2019, an 11 percent increase from the previous year. The majority of CBRE's portfolio is concentrated in the office sector, followed by retail and industrial properties.
Colliers International and JLL take the second and third spots, with portfolios of 2.1 billion and 659.2 million square feet, respectively. Colliers saw a 3 percent increase in their portfolio, while JLL's U.S. portfolio experienced an 11 percent growth in managed space from 2018 to 2019.
Navigating Multiple Asset Classes and Geographies
All of the top 10 companies on the list manage properties in at least three different asset classes. Nine firms oversee national portfolios, with seven operating internationally as well. Participants' portfolios had an average vacancy rate of 11 percent in 2019, a figure that is likely to increase due to the impacts of the COVID-19 pandemic.
Methodology
The Top 30 Commercial Property Management Companies of 2020 ranking is based on self-reported data from all participating firms. The ranking was calculated using a weighted formula that considers various factors, including the total square footage and number of properties under management, property operations (both owned and managed), and visibility in different property sectors. The ranking represents a logical balance between firm growth, market share, and property diversity. Please note that ranking factors are not limited to the data presented in this article.
For more information on this topic, please refer to the CPE-MHN 2020 Midyear Update.