Commercial Property Managers NAICS 531312
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Industry Summary
The 15,914 Commercial property management companies in the US maintain and manage real estate assets, such as office buildings, industrial buildings, warehouses, and other nonresidential buildings. Firms generate the majority of revenue from property management services, which include general maintenance, engineering, operations, landscaping, janitorial, and sustainability services.
Dependence on Subcontractors
Commercial property managers typically rely on subcontractors for certain types of services, such as plumbing and electrical repair, HVAC maintenance, or waste pick-up.
Competition from Property Tech
Advances in real estate and property tech have made property self-management less complex and more feasible for commercial real estate (CRE) owners.
Recent Developments
Jun 20, 2026 - Industrial Occupiers Seek Modern Facilities with Plenty of Power Access
- Facilities Dive reports that, according to Colliers, industrial real estate demand is increasingly shaped by access to reliable power, existing infrastructure, and modern facilities that can support automation and other energy-intensive operations. Industry experts say occupiers are favoring Class A properties with operational flexibility, while developers and data center operators are placing greater value on sites with substantial electrical capacity and utility commitments. Colliers reported that nearly 70% of US markets recorded positive industrial absorption in the first quarter, signaling a broad-based recovery in occupier activity. At the same time, rent growth remains modest as the sector continues to normalize following a period of rapid expansion and overbuilding after the pandemic.
- According to Bisnow, a proposed class-action lawsuit filed in the US District Court for the Northern District of Illinois accuses CoStar Group and major commercial real estate brokerages CBRE, Colliers, Cushman & Wakefield, JLL, and Newmark of participating in a scheme to inflate office, retail, and industrial rents. The complaint, filed by commercial tenant FitFactorDC LLC, alleges CoStar collected and redistributed sensitive lease data, giving competing firms visibility into market pricing and allowing them to align rents, reduce concessions, and weaken tenants’ negotiating power in violation of the Sherman Act. If the allegations prove true, the case could have significant implications for the commercial property management industry by increasing scrutiny of market data platforms, leasing practices, rent-setting processes, and the handling of competitive lease information, potentially leading to new compliance requirements and changes in how landlords, brokers, and property managers use market intelligence. CoStar questioned the merits of the lawsuit and said it expects a speedy court judgment in its favor.
- Fitch Ratings’ US CMBS delinquency rate rose by three basis points to 3.31% in May 2026 from 3.28% in April. May's rise in office and regional mall delinquencies outstripped total resolution activity. Commercial mortgage-backed securities (CMBS) are fixed-income investment products backed by mortgages on commercial properties rather than residential real estate. The delinquency rate is the percentage of commercial real estate loans that were 30 or more days past due or in foreclosure. A rising delinquency rate indicates that an increasing number of commercial property owners are unable to pay their mortgages. Current and prior-month delinquency rates for May and April were: Office: 8.44% (from 8.56% in April); Retail: 4.01% (from 3.75%); Hotel: 3.4% (from 3.49%); Multifamily: 1.26% (from 1.21%); Industrial: 0.76% (from 0.78%); Mixed Use: 4.44% (from 4.69%); Self-storage: 0.06% (from 0.06%); and Other: 1.99% (from 1.6%).
- The Wall Street Journal reports that mall owners across the US are increasingly banning unaccompanied shoppers under 18 in response to disruptive teen gatherings organized on social media. These chaperone policies, which sometimes require minors to be accompanied by someone 21 or older, have been implemented after incidents involving fights, theft, and large crowds forced stores to close and led to arrests. Landlords say the rules have reduced disorder and improved safety without hurting sales, though some teens argue the policies unfairly punish all young people and limit social interaction. Mall operators face a balancing act, as they seek to attract Gen Z shoppers while maintaining order. Some properties enforce restrictions only during peak times, and others rely on ID checks or security staff to manage behavior.
Industry Revenue
Commercial Property Managers
Industry Structure
Industry size & Structure
The average commercial property management firm operates out of a single location, employs about 11 workers, and generates $2.8 million annually.
- The commercial property management industry consists of 15,914 firms that employ 173,500 workers and generate about $44 billion annually.
- The industry is concentrated at the top and fragmented at the bottom; the top 50 companies account for 47% of industry revenue. About half of all firms generate less than $500,000 annually.
- Large firms with commercial property management operations include CBRE, JLL, and Cushman and Wakefield. Large firms often have global operations.
Industry Forecast
Industry Forecast
Commercial Property Managers Industry Growth
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