WASHINGTON, D.C. — Office and industrial brokerage commissions in the United States total approximately $11.8 billion per year, providing profits to real estate companies of between $5.7 billion to $7.1 billion, according to the SIOR Educational Foundation of the Washington, D.C.-based Society of Industrial and Office Realtors.
According to the first phase of the SIOR Study, the value of brokerage commissions will continue to attract e-commerce entrepreneurs. The second phase of the study, which will detail e-commerce strategies in commercial real estate, will be released later this year.
SIOR’s other findings on the U.S. real estate market include: o The amount of office space is approximately 7.4 billion sq. ft. Industrial space totals approximately 22.9 billion sq. ft., for a combined total of 30.3 billion sq. ft.
o There is 48.3 billion sq. ft. of commercial real estate space, which includes 11.9 billion sq. ft. of multifamily housing, 1.1 billion sq. ft. of hotel space and 5.5 billion sq. ft. of retail space.o Leases paid on the combined office and industrial stock total $184.9 billion per year, including $115.1 billion on office leases and $69.9 billion on industrial leases.
o The suburbs contain 70% of the nation’s office space, while the central business districts (CBD) house 30% of the office stock.
o Suburban office leases total$62.3 billion per year, while CBD office leases total $52.7 billion per year.