CBRE has been crowned king of the castle for brokering the most commercial deals last year, bumping former leader Eastdil Secured — which typically takes the title thanks to its specialization in deals that exceed $100M — out of the lead.
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The number of large-scale properties worth $25M to trade hands last year fell 10% from the year prior. Deals involving assets worth more than $100M plummeted the most last year, posting a 16% drop from 2016. Transactions between $25M and $100M fell by a more moderate 4%, The Real Deal reports.
While the struggling retail sector did contribute to some of the above-mentioned declines, Eastdil also suffered from falling New York office sales, which dove 83% from 2016.
CBRE brokered $53.9B worth of deals last year and now boasts almost 25% market share. Eastdil was involved in a total of $40.7B worth of transactions last year, while HFF, which came in third, brokered $30.3B in deals, TRD reports.
Overall, the number of large deals transacted nationally fell to $244.2B in 2017 from $271.2B in 2016.
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