2025 Top CRE Brokerage Firms

You can also read our other Top Brokerage Firms rankings.

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

Key: O=Office, I=Industrial, R=Retail, M=Multifamily, He=Health Care, Ho=Hospitality, X=Other

To be included in upcoming surveys, email Agota Felhazi at agota.felhazi@cpe-mhn.com. 

Strong Year for Deals And Dealmakers

Despite challenging conditions, commercial real estate brokerage firms had an active 2024.

Office transactions across the U.S. amounted to $41 billion, up $3.2 billion year-over-year, according to CommercialEdge data. However, more than a third of the traded properties sold at a discount, with more than a third of those selling for less than half of their previous sales price.

Industrial sales totaled $69.2 billion. Dallas–Fort Worth led with $6 billion.

Residential assets continued to dominate investment activity, followed by industrial, according to DLA Piper’s real estate report. Data center sales were the fastest growing, office deals improved slightly, retail deals remained stable and hospitality deals contracted.

Office leasing showed signs of recovery, with the average size of the top 100 office leases expanding, according to a CBRE report. CBRE also noted 68 percent of the largest leases were renewals, representing a 10 percent increase over 2023.

The average size of the top 100 industrial leases contracted around 10 percent to 968,000 square feet. Renewals were also a larger share of activity.

This year’s Top 20 Commercial Real Estate Brokerage Firms facilitated slightly more than $482 billion in transactions last year, $32 billion more than in 2023, and closed leases valued at $402.8 billion, up from $363.8 billion in 2023.

—Agota Felhazi, Senior Associate Editor, CPE

1. CBRE

CBRE continued to hold the top spot. The global brokerage firm completed an impressive $175.3 billion in investment sales during 2024. The figure accounted for 36.4 percent of all transaction activity closed by the top 20. CBRE also successfully finalized lease deals amounting to $157.6 billion, up from the $131.6 billion closed in 2023. Among the noteworthy transactions closed in 2024, CBRE played a central role in the disposition of a 1.4 million-square-foot industrial portfolio as well as HanesBrands Inc.’s headquarters relocation to downtown Winston-Salem.

2. Cushman & Wakefield

Cushman & Wakefield secured the second position with $54.2 billion in sales, up from $53.7 billion completed in 2023. The international brokerage company also represented clients in nearly 660 million square feet valued at $84.1 billion. Cushman & Wakefield worked in various asset types with most of the sales and leasing occurring in the industrial sector. A highlight among Cushman & Wakefield’s recent transactions was the $128 million sale of an industrial asset fully leased by Amazon. The brokerage firm kicked off 2024 by doubling the space occupied by DoorDash at 200 Fifth Ave. in Manhattan.

3. Colliers

Colliers placed third with a worldwide investment sales volume of $59.8 billion in 2024, up from $54.3 billion in 2023. Notably, Colliers reported the largest footprint leased among all companies on the list—774.3 million square feet valued at $50.4 billion. Key deals orchestrated by Colliers included the sale of a four-building industrial portfolio in the Inland Empire for more than $200 million and Regus’ full-building lease for a flex office building in Miami Beach, Fla.

4. Newmark

Newmark came in fourth place with $43.1 billion in sales arranged last year. The leading commercial real estate advisor and service provider facilitated 204.5 million square feet of lease transactions valued at more than $34.5 billion. Newmark played a central role in the sale of the North Dallas Infill Portfolio, four fully leased industrial buildings in the suburbs of Dallas. The brokerage firm also helped Bet365, a U.K.-based sports betting company, secure a U.S. headquarters.

5. NAI Global

NAI Global came in fifth place with $3 billion in transactions facilitated last year. The commercial real estate brokerage firm with an international presence arranged lease transactions encompassing 340 million square feet valued at $17.5 billion. NAI Global worked with a diverse portfolio of assets, with most sale and leasing activity occurring in the industrial sector. NAI Hiffman, a regional representative of NAI Global, played a central role in the $170-million sale of nine cold storage properties as well as negotiating a 330,000-square-foot industrial lease for Norkol Converting Corp.

Methodology

Commercial Property Executive’s ranking of the Top 20 Commercial Real Estate Brokerage Firms is based on self-reported data from all firms. We considered various factors including a firm’s performance in 2024 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 2025 issue of CPE.