You can also read our other Top CRE Owners rankings.

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

Though we make every effort to include all major commercial real estate owners, several notable firms (among them Prologis, Blackstone and SL Green) did not participate this year.

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

Change is a constant for CRE owners

The commercial real estate landscape continues to evolve due to several key factors, including increased demand for flexible workspace and heightened attention to ESG considerations. E-commerce continues to be a major force driving the industrial sector and technology is being used to improve efficiency for logistics properties. Finally, adaptive reuse projects are revitalizing urban areas by transforming underutilized properties into mixed-use developments.

By adapting to and staying ahead of these trends, commercial real estate owners can better position themselves to thrive in a competitive landscape.

Most firms in Commercial Property Executive’s 2024 Top Commercial Property Owners ranking have diversified their assets across different property types—from office properties to data centers—to reduce risk. Only five of the top 30 owners had portfolios focused on a single property type. Industrial real estate continues to be a hot sector, with 18 companies on our list owning assets in this category. Most owners also have properties in various regions across the U.S., and 11 have holdings in other countries as well.

Once again, CBRE Investment Management secured the top spot among commercial owners, with a diverse portfolio valued at nearly $109 billion and exceeding 701 million square feet. Clarion Partners (296.7 million square feet valued at some $62 billion) and AEW Capital Management (212 million square feet valued at $63.4 billion) rounded out the top three.

Methodology

Commercial Property Executive’s 2024 Top Commercial Real Estate Owners ranking utilized self-reported data for all firms. The ranking results from a weighted formula based on a variety of factors (only a few of which being specified here), including total square footage owned, owned portfolio value, historic performance and a focused or diversified participation in property sectors. The ranking represents what we feel is a balanced combination of firm growth, market share and property diversity.

—Agota Felhazi, Senior Associate Editor