U.S. Real Estate Sees CBRE Lead Broker Rankings

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Broker rankings for the first half of 2025 show CBRE maintaining its position at the top of the U.S. commercial real estate market, as smaller property transactions signal a gradual rebound in activity.

Sales of properties in the $5 million to $25 million range totaled $45.24 billion between January and June, according to Green Street’s Sales Comps Database. This represents a 3.5 percent increase from the same period in 2024, even though total market volume remains 27 percent below its 2022 peak.

CBRE led the broker rankings with $5.76 billion in transaction volume, marking a 33 percent year-over-year increase. The firm has now held the top position since 2019, strengthening its market dominance.

Much of the growth came from the multifamily and office sectors. Multifamily sales retained the lead with $11.94 billion in deals, while the office segment posted an 18 percent annual increase. Market analysts note that debt recovery and stronger liquidity are driving more brokered deals, as lenders return to the market.

The rise in brokered activity has been significant. Overall, brokered transactions climbed 21 percent in the first half of the year, helping to counter a 16 percent decline in unbrokered deals. Industry professionals point to improved debt pricing and increased financing availability from regional banks and CMBS issuers as key factors supporting the recovery.

Despite the gains, market volume remains well below levels seen before the interest rate hikes of 2022 and 2023. Analysts say the smaller-deal segment is currently outperforming larger property transactions, as investors look for more manageable opportunities in a cautious economic environment.

With liquidity improving and lenders showing renewed activity, brokers expect transaction momentum to continue through the second half of 2025. While challenges remain, including ongoing uncertainty in global capital flows, the rebound in sub-$25 million deals is being viewed as a positive sign for U.S. commercial real estate.