2022 Top Commercial Real Estate Brokerage Firms

4 min read

CPE unveils the 20 leading firms overall—plus the top performers for investment and leasing—in our latest annual ranking.

Research Center CPE

You can also read our other Most Powerful Brokerage Firms rankings.

RankCompany2021 Investment Sales Volume ($MM)2021 Square Feet Leased (000s)No. of BrokersProperty Types
1CBRE$388,700.001,500,000O, I, R, M, X
2Cushman & Wakefield$160,000.00852,0006,847O, I, R, M, X
3Newmark$131,617.08267,0221,877O, I, R, M, H, Ho, St, Se, X
4Marcus & Millichap$84,400.001,994O, I, R, M, H, Ho, St, Se, X
5NAI Global$17,000.00180,0005,100O, I, R, M, H, Ho, St, Se
6Avison Young$20,400.00107,6002,101O, I, R, M, X
7Lee & Associates Commercial Real Estate Services$16,704.19198,7681,150O, I, R, M, X
8TCN Worldwide$26,872.47100,6381,500O, I, R, M, H, Ho, X
9SVN International Corp.$20,400.0038,0261,420O, I, R, M, X
10Berkadia$26,698.19141O, R, M, H, Ho, St, Se, X
11Matthews Real Estate Investment Services$8,340.008,018300O, I, R, M, H, X
12Coldwell Banker Commercial$9,200.002,678O, I, R, M, Ho, St, X
13Transwestern Real Estate Services$4,211.5253,374405O, I, R, M, H, Ho, X
14SRS Real Estate Partners$3,351.859,739175O, I, R, H, Ho, X
15Kidder Mathews$5,541.0739,312467O, I, R, M, H, Ho, X
16Stream Realty Partners$1,981.0756,527199O, I, R, H, X
17Voit Real Estate Services$1,739.9514,241130I, M, X
18Greysteel$1,337.8724I, R, M, Ho, X
19Stan Johnson Co.$4,000.00101O, I, R, M, H, X
20Ariel Property Advisors$743.0025R, M, X

Top 10 Firms in Leasing

Top 10 Firms in Sales

RankCompany Name
2Cushman & Wakefield
3NAI Global
4Avison Young
5Lee & Associates Commercial Real Estate Services
7TCN Worldwide
8Stream Realty Partners
9SVN International Corp.
10Transwestern Real Estate Services
RankCompany Name
2Cushman & Wakefield
4Marcus & Millichap
6Avison Young
7Lee & Associates Commercial Real Estate Services
8SVN International Corp.
9Matthews Real Estate Investment Services
10TCN Worldwide

Note: The following noteworthy firms did not submit responses: JLL, Colliers and Eastdil Secured.

Key: O=Office, I=Industrial, R=Retail, M=Multifamily, H=Health Care, Ho=Hospitality, St=Student Housing, Se=Senior Housing, X=Other

To be included in upcoming surveys, email Agota Felhazi at [email protected]

Exceeding Expectations

Despite suffering setbacks in 2020 during the pandemic, commercial real estate transaction volume rebounded in 2021 and exceeded expectations. Survey respondents reported strong levels of investment sales activity, with our 23 top performers completing more than $951 billion in transactions in 2021―compared to 26 respondents completing just $523.4 billion in 2020.

Even in the face of looming rate hikes, the outlook for commercial real estate investment activity remains positive for 2022, as investors will likely continue to be driven towards property types boasting strong underlying fundamentals.

While the industry remains optimistic for 2022, our 2022 Most Powerful Brokerage Firms ranking highlights the top firms to watch.

CBRE held onto its longstanding position at the top of this year’s ranking and placed first in our leasing and sales category rankings. Reporting near $389 billion in transaction activity in 2021, CBRE boasted a 114 percent increase in investment sales volume from 2020. The brokerage firm’s investment volume was spread out across asset types, with the greatest volume occurring in the multifamily and industrial sectors. CBRE’s leasing volume was up as well in 2021, with 1.5 billion square feet leased―a 25 percent increase from the previous year.

Cushman & Wakefield and Newmark rounded out the top three in the investment sales ranking with a respective $160 billion and $132 billion in transaction volume in 2021. Cushman also ranked second in our leasing category, with 852 million square feet leased throughout the fiscal year. While they hold the third-place spot in the overall and sales rankings, however, Newmark came in sixth for leasing with just over 267 million square feet of lease transactions.

Claire Spadoni, Senior Research Analyst, Yardi Matrix


Commercial Property Executive’s ranking of the Most Powerful Brokerage Firms is based on self-reported data from all firms. We used a weighted formula, considered various factors including a firm’s performance in 2021 and previous years, and reviewed data that reflects investment sales and leasing activity. The ranking represents what we feel is a logical balance between firm growth and market share. Ranking factors are not limited to the data that appear on this page.

Read the June 2022 issue of CPE.

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