LAS VEGAS
INSIDER A COMMUNICATION FOR BROKERS, EMPLOYEES, COLLEAGUES AND FRIENDS
Red Rock Canyon National Conservation Area
JANUARY 2019
// COVER //
Photo by Nikola Knezevic on Unsplash
FACEBOOK.COM/COLLIERSLV
TWITTER.COM/COLLIERS_LV
// LAS VEGAS INSIDER //
Red Rock Canyon National Conservation Area Mountain Photography by Jack Brauer
RED ROCK CANYON
195,819 ACRES WITHIN THE MOJAVE DESERT
CONTENTS JANUARY 2019
HAPPY 2018 – RESEARCH
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FEATURED LISTINGS
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OFFICE HAPPENINGS
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COLLIERS IN THE NEWS
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FEATURED DEALS
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UPCOMING EVENTS
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VEGAS BY THE NUMBERS
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ICEBREAKERS
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DIRECTORY
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Red Rock Canyon National Conservation Area lies in Nevada’s Mojave Desert. It’s known for geological features such as towering red sandstone peaks and the Keystone Thrust Fault, as well as Native American petroglyphs. Panoramic viewing spots dot the 13-mile Scenic Drive. The sheltered Ice Box Canyon has seasonal waterfalls. To the south, Spring Mountain Ranch State Park features historic buildings and hiking trails. www.redrockcanyonlv.org
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THE LINKS FOR LIFE FO
COLLIERS INTERNATION
LINKS FOR LIFE CHARITY
WILL BE HELD ON MAY 3
For a quarter of a century, the by Colliers International and Sponsors, has proven to be o Southern Nevada. Colliers Int raised through sponsorship, a direct contribution to Links children in need.
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2018 BENEFICIARIES IN • • • • • • • • • • • • • • • •
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Candlelighters St. Baldrick’s Foundation CASA Foundation Schettler Family Foundation Boy Scouts of America Horses 4 Heroes Down Syndrome Organization Southern Nevada Make A Wish Foundation Sout Southern Highlands Charitable Foundation for Positively Kids Patrick Kelley Youth Foundatio Las Vegas Natural History Mus Sunrise Children’s Foundation St. Jude Children’s Research Ho JDRF Southern Nevada Chapt Communities in Schools
Please help our community’s in the Links for Life Golf Tourn corporate sponsorships, even currently accepting donated i Links for Life through a moneta and guarantee a memorable e
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The Links for Life Foundation i the past 25 years, the Foundat charities. Quite often donation charity has already raised and In addition, when charities requ employees are always there to
Thank you for your time and contact Michael Stuart at (702
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Michael Stu michael.stu
A HAPPY 2018 FOR COMMERCIAL REAL ESTATE LAS VEGAS, JANUARY 2019 John Matt Stater
At the dawn of 2018, it looked as though Southern Nevada was going to have trouble absorbing the millions of square feet of industrial product slated for completion during the year. At the end of 2018, all we can say is, “Mission accomplished!” Southern Nevada ended the year with 3.6 percent vacancy, the lowest vacancy rate in the Valley since the end of 2006. E-commerce and transportation companies led the pack in occupying industrial space in 2018. Where out-of-state tenants coming to Southern Nevada were once primarily from California, out-of-state tenants in 2018 came from a much broader geographic range in the United States. Southern Nevada’s industrial market had a very strong 2018 and is poised to do much the same in 2019. Development in the market
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has been met by strong demand, and tenants are now coming from a broader section of the United States than in past years. We think 2019 will see the general trend of 2017 and 2018 continue. “The current boom has seen development respond to demand rather than being primarily speculative,” remarked John Stater, the research manager of Colliers International’s Las Vegas office.
has posted two years of strong demand. Inventory grew by 614,367 square feet over the past two years, while net absorption over the same period totaled 796,726 square feet. This brought the vacancy rate down from 15.6 percent in the fourth quarter of 2016 to the current rate of 12.1 percent; an impressive recovery after several years of shallow improvement following the Great Recession. Mike Mixer, Executive Managing
After several years of postrecession ebb and flow, Southern Nevada’s medical office market posted a second year of unambiguous growth. Southern Nevada’s medical office market
Director said, “The healthcare market still has significant challenges ahead of it, legislative, technological and demographic, but for now is on a better trajectory than it has been in many years.”
Photo by Dane Deaner on Unsplash
As multifamily completions headed over the 1,000 units per quarter level in 2018, Class B/C properties had some difficulty competing with newer properties. It probably does not help that asking rents in Class B/C properties increased right along with those in Class A properties, though at a slower pace. Net absorption in older properties was negative in 2018 through three quarters. It seems likely that Class B/C rents will plateau or decrease in older properties in the coming months. In the meantime, investors were bullish on Southern Nevada’s multifamily market, making this quarter the Valley’s best in terms of sales
since the second quarter of 2016. Multifamily development may slow down in the second half of 2019. In the meantime, vacancy could continue to edge up while the market digests the new inventory introduced to the market in 2018.
POP THE CORKS, BECAUSE IT HAS BEEN A VERY HAPPY YEAR FOR SOUTHERN NEVADA’S OFFICE MARKET. By year’s end, vacancy was heading down and net absorption and asking rates were heading up. Southern Nevada’s office market appeared to be a “baby
bear” market – not too hot, not too cold, just right for a decadeold recovery. The industrial market in Southern Nevada boomed slowly and then all at once. So far, the office market’s improvement has been at a slow and steady pace. This pace could quicken in 2019 if economic fundamentals remain strong. There is little office space on the drawing board now, so an increase in demand for office space in 2019 could bring vacancy closer to the long-term average of 9 percent.
continued on page 7
// COLLIERS INTERNATIONAL LAS VEGAS //
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// SAVE THE DATE //
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Despite headwinds from e-commerce and big box closures, Southern Nevada’s retail market performed well in 2018. Vacancy is still higher than it was twenty years ago, but it improved over 2018 and demand for retail space was strong. We think the retail market will match this performance in 2019, provided national economic fundamentals continue to be positive. Southern Nevada is still witnessing the movement of the middle class to the southern and western portions of the Valley, and this movement will have as much impact on the market in 2019 as those aforementioned headwinds. Southern Nevada’s retail market had a strong finish in 2018, posting 283,177 square feet of net absorption in the fourth quarter of 2018, the highest quarterly net absorption all year.
2018 was a solid year for tourism in Southern Nevada, though it did not quite equal the last two years. Still, Southern Nevada is on the cusp of a major expansion of its entertainment product, and as these venues come online, they should bring those visitor volume numbers up, as well as put Southern Nevada on track for a productive decade in the 2020’s. You could say Southern Nevada’s hospitality sector in 2018 was better than the 10-year average, but down from the past two years. While this assessment is basically correct, it misses some important details. Visitor volume and room occupancy have decreased over the past two years after peaking in 2016, but gaming revenue, taxable sales and passenger traffic at McCarran International Airport were up over the same period.
WELCOME
Southern Nevada looks to be experiencing a slight slowdown in post-recession growth, but not a significant reversal. Land sales were exceptionally strong in Southern Nevada in 2018, driven by renewed multifamily and industrial development, and the strongest new home sales since the end of the Great Recession. Developers are now pre-positioning themselves for development over the next several years, and investors are seeing many opportunities as well. Lack of available land is putting upward pressure on prices, and this could potentially slow land sales going into 2019, but for now the market looks as though it will remain strong.
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Please join us in welcoming Jennifer Lehr, CCIM to the Colliers Las Vegas office as Senior Associate joining Al Twainy, CCIM in the Retail Investment Division. Jennifer previously worked for Sun Commercial Real Estate focusing on office sales and leasing. Jennifer brings over Fifteen (15) years of experience in commercial real estate. She was born and raised in Erie, Pennsylvania and moved to Las Vegas in 1999. Jennifer’s primary responsibilities on the team include: property marketing, research, property tours with potential tenants/buyers, listing procurement, negotiating leases, and responding to inquiries on listings. Jennifer enjoys reading and spending time with her family and friends.
// COLLIERS INTERNATIONAL LAS VEGAS //
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FEATURED LISTINGS
3873 W. Oquendo Road
Dean Willmore, SIOR, Mike Willmore and Alex Stanisic • • •
±20,064 SF industrial building for sale or lease Ideal location for Gas Station, C-Store or Fast Food/ QSR Restaurant For Sale: $2,625,000 // Lease: $0.68 PSF (NNN)
3893 Spring Mountain Road Steve Neiger, CCIM • • •
±1,000 - ±4,000 SF retail spaces available – The Center at Spring Mountain Located in the heart of Chinatown, near The Strip Join The Golden Tiki, Partage, Yama Sushi, Pho Kim Long, Lee’s Sandwiches, Hot N Juicy Crawfish, and More!
102 E. Lake Mead Parkway
Stacy Scheer, CCIM and Grant Traub, SIOR • • •
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±57,400 SF of recently renovated inpatient and medial office space Generous Tenant Improvement Allowance and Concession Packages Rental Rate is FSG and NEGOTIABLE based on tenant’s use
Photo by Tim Trad on Unsplash
5375 S. Fort Apache Road
Suzette LaGrange, CCIM, Kara Walker, CCIM, Scot Marker and Julie Dornak • • •
For Lease – up to ±4,520 RSF ($1.75 – $1.95 per SF)/ ±0.59 acres ($0.22 per SF/Mo.) Has excellent exposure, boasting easy ingress and egress, great curb appeal and ample parking Located in the high-growth Southwest Submarket
SWC Diablo Drive and Edmond Street
Paul Sweetland, SIOR, Dan Doherty, SIOR, Chris Lane, CCIM and Jerry Doty • • •
For sale or lease - Nevada State Industrial Park 3 industrial buildings ranging from ±23,546 SF to ±101,308 SF Asking price: $142-$170 PSF // Lease Rate: $$0.58 - $0.82
10180 West Tropicana Avenue
Al Twainy, CCIM and Jennifer Lehr, CCIM • • •
±1,200 SF - ±2,100 SF retail spaces available Siena Town Center is anchored by Smith’s, Smith’s Fuel Center and Wells Fargo Bank Approximately one (1) mile from I-215 Beltway
// COLLIERS INTERNATIONAL LAS VEGAS //
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// OFFICE HAPPENINGS //
CONGRATULATIONS 2018 NEW TITLES
EXECUTIVE VICE PRESIDENT
SENIOR VICE PRESIDENT
Spencer Pinter
Keith Cubba
Pat Marsh
Brian Riffel
Taber Thill
VICE PRESIDENT
Taber Thill received the SIOR People’s Choice Award for 2018 Phillip Dunning
Stacy Scheer
Andrew Kilduff
Chris Lane
ASSOCIATE VICE PRESIDENT
Steve Haynes
Sam Newman
Jerry Doty
Congratulations to Jerry and Jennifer Doty on the arrival of their beautiful baby girl Emilia Josephine. Emilia made her debut on Friday, January 18th at 11:30 a.m. She weighed 8 lbs. 2 oz. and is 20 inches long. Mom and baby are doing great. Welcome to the Colliers family Emilia!
Effective 1/1/19 we have added the following as contracted brokers to the team:
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Julie Dornak, Tyler Jones, Brett Rather, Gabe Skerlich, Alex Stanisic, Michael Willmore. Logan Etherington is effective 2/1/19.
IN THE NEWS “Colliers International – Las Vegas Welcomes Jennifer Lehr as Senior Associate” CRE Confidential, January 15
READ MORE
‘‘Real Estate Notebook: Speculation on Wynn’s Next Move’’ Las Vegas Business Press, January 22
READ MORE
Mike Stuart Chris Bentley Dean Willmore, SIOR Brian Riffel, SIOR Pat Marsh, SIOR Scott Gragson Paul Sweetland, SIOR
“Colliers International – Las Vegas Welcomes Jennifer Lehr as Senior Associate” CRE Confidential, January 22
READ MORE
Chris Clifford Spencer Pinter Al Twainy, CCIM Grant Traub, SIOR Dan Gluhaich Patti Dillon, SIOR
BROKER OF THE MONTH
CHARITY DONATION
The Links for Life Foundation is donating in Mike Stuart’s name to the Patrick Kelley Youth Foundation
Taber Thill, SIOR Keith Cubba Garry Cuff, CCIM
LINKS FOR LIFE
Tom Naseef, CCIM, SIOR
Haynes F O U N DSteven A T I O N Chris Connell
2018 SALES AWARD TRIP
Dan Doherty, SIOR
YOU MADE THE PLANE
Vince Schettler
Susan Borst, CCIM, SIOR David Grant Scot Marker Mike Mixer, SIOR Chris Lane, CCIM Stacy Scheer, CCIM Jerry Doty* *These brokers qualified for the plane in December.
// COLLIERS INTERNATIONAL LAS VEGAS //
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Photo by Rawpixel rawpixel on onUnsplash Unsplash
FEATURED DEALS JANUARY 2019
Industrial Sale
A sale to NR Henderson 215 LLC. The ±197,120 square foot industrial property is located within Henderson Interchange Center at 820 Wigwam Parkway in Henderson. The transaction amount was $25,100,000.00. Dan Doherty, SIOR, Paul Sweetland, SIOR, Chris Lane, CCIM and Jerry Doty of Colliers International represented both the seller, Henderson Interchange LLC., and the buyer.
Industrial Lease
A lease to Rincon Technology, Inc. The ±100,000 square foot industrial property is located in Sunset Parkway (Bldg. 2) at 6670 South Valley View Boulevard in Las Vegas. Spencer Pinter of Colliers International represented the tenant.
Medical Office Sale
A sale to Eziagu Properties LLC. The ±6,800 square foot medical office property is located in Parc Place at 5876 South Pecos Road in Las Vegas. The transaction amount was $1,145,000.00. Alexia Crowley, CCIM, Grant Traub, SIOR and Chris Connell of Colliers International represented the seller, Shalom Tsubely and Miki Tsubely.
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Medical Office Lease
A lease to Advanced Practice Nursing Specialists, LLC. The ±7,604 square foot medical office property is located in Mountain View Professional Plaza at 2851 North Tenaya Way, Suite 101 in Las Vegas. Andrew Kilduff of Colliers International represented the landlord, Denee Mountaview, LLC & MJ. Stacy Scheer, CCIM of Colliers International represented the tenant, Advanced Practice Nursing Specialists, LLC.
Office Lease
A lease to Henderson Engineers, Inc. The ±6,721 square foot office property is located in Centra Point at the Curve at 8311 West Sunset Road, Suite 240 in Las Vegas. Grant Traub, SIOR and Chris Connell of Colliers International represented the tenant.
Retail Sale
A sale to E-Z Living LLC. The ±12,159 square foot retail property is located in El Mercado at 2885 East Charleston Boulevard in Las Vegas. The transaction amount was $2,400,000.00. Chris Clifford, Steve Neiger, CCIM and Brett Rather of Colliers International represented the seller, El Mercado LLC.
// COLLIERS INTERNATIONAL LAS VEGAS //
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UPCOMING EVENTS
MARK YOUR CALENDAR
Photo by Stil on Unsplash
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// JANUARY 2019 //
FEBRUARY 2019
SHORT MONTH, LOTS HAPPENING Monthly Land Meeting
9:00am – Main Conference Room February 5th
LVGEA – The State of Economic Development
7:00am – Four Seasons Hotel February 6th
Healthy Habits with Property Management
President’s Day
Office Closed – February 18th
Monthly Retail Meeting
8:30am – Main Conference Room February 19th
Broker Meeting
8:00am – Main Conference Room February 20th
Monthly CCIM Luncheon
10:00am – Colliers Café February 6th
Monthly CREW Luncheon 11:30am – LV Country Club February 7th
Coffee Truck Courtesy of Alpha Surveillance (REMS Vendor) 9:20am – Parking Lot February 8th
11:30am – Orleans Hotel & Casino February 20th
NAIOP Breakfast
7:00am – Orleans Hotel & Casino February 21st
Chase Bank – Lunch and Learn 11:30am – Main Conference Room February 26th
Monthly Investment Meeting
Monthly Office Meeting
Monthly SIOR Luncheon
Monthly Industrial Meeting
Valentine’s Day
Birthday Celebration
9:00am – Main Conference Room February 12th
11:30am – Maggiano’s February 13th
February 14th
All You Need is Love and Pizza Party 11:30am – Colliers Café February 14th
9:00am – Main Conference Room February 27th
9:00am – Main Conference Room February 28th
2:30pm – Main Conference Room February 28th
22nd Annual NAIOP Spotlight Awards
6:00pm – Red Rock Hotel Casino March 2nd
// COLLIERS INTERNATIONAL LAS VEGAS //
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LAS VEGAS BY THE NUMBERS DECEMBER 2018
Broker Rankings YTD OTHER
1%
OFFICE
16% MULTIFAMILY
29%
DECEMBER PROPERTY TYPES
INDUSTRIAL
25%
RETAIL
14%
LAND
15%
SALE
59%
DECEMBER SALES VS. LEASE
LEASE
41%
1. Dan Doherty 2. Mike Stuart 3. Dean Willmore 4. Vince Schettler 5. Brian Riffel 6. Paul Sweetland 7. Pat Marsh 8. Scott Gragson 9. Chris Clifford 10. Spencer Pinter 11. Grant Traub 12. Patti Dillon 13. Taber Thill 14. Dan Gluhaich 15. Garry Cuff 16. Keith Cubba 17. Chris Connell 18. Tom Naseef 19. Steven Haynes 20. Chris Bentley 21. Susan Borst 22. David Grant 23. Mike Mixer 24. Al Twainy 25. Scot Marker
26. Chris Lane 27. Stacy Scheer 28. Jerry Doty 29. Alexia Crowley 30. Phillip Dunning 31. Patrick McNaught 32. Steven Neiger 33. Robert Torres 34. Brian Fike 35. Jeff Naseef 36. Andrew Kilduff 37. Sam Newman 38. Kara Walker 39. Suzette Lagrange 40. Phillip Frank 41. Rebecca Staniec 42. Chris Lobello 43. Joe Bonifatto 44. George Connor 45. John Kilpatrick
Top 10 Agents – December 2018 1. 2. 3. 4. 5.
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Mike Stuart Dean Willmore Tom Naseef Garry Cuff Spencer Pinter
6. 7. 8. 9. 10.
Taber Thill Patti Dillon Scot Marker David Grant Dan Doherty
Photo by Fabio on Unsplash
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December 2018 Anniversaries John Kilpatrick
1996
22 Years
Garry Cuff
2010
8 Years
Steve Haynes
2014
4 Years
BROKER OF THE MONTH
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MIKE STUART EXECUTIVE VICE PRESIDENT LAND DIVISION
The Links for Life Foundation is donating in Mike Stuart’s name to the Patrick Kelley Youth Foundation
Inspirational Quote:
Hawaiian quote about learning Nana ka maka; ho`olohe ka pepeiao; pa`a ka waha. Translation:
Observe with the eyes; Listen with the ears; Shut the mouth
SIXTY-FIVE TOTAL DEALS FOR THE MONTH OF DECEMBER
85/15
CLUB Vince Schettler Pat Marsh Dan Doherty Scott Gragson Mike Stuart Paul Sweetland Christopher Bentley Chris Clifford Dean Willmore Spencer Pinter Brian Riffel Al Twainy Grant Traub Dan Gluhaich Patti Dillon Taber Thill
Keith Cubba Garry Cuff Tom Naseef Steven Haynes Chris Connell Susan Borst David Grant Scot Marker Mike Mixer Chris Lane Stacy Scheer Jerry Doty Alexia Crowley Pat McNaught Phillip Dunning
// COLLIERS INTERNATIONAL LAS VEGAS //
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// LAS VEGAS INSIDER // Photo by Bryan Rodriguez on Unsplash
JENNIFER MANNING RECEPTIONIST
ICE BREAKERS
TIDBITS FROM PEOPLE YOU WORK WITH If you could rule the world for a day state something that you’d ban:
Negativity
Where would you love to go on holiday?
Italy
If you were a flower which one would you be?
A Magnolia
What is your favorite book?
Wuthering Heights – Emily Brontë
Which famous person (past or present) would you like to meet? Audrey Hepburn
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// JANUARY 2019 //
Jennifer is responsible for front desk operations which include: greeting clients, answering phones, facilitating the flow of property inquiries and receiving and transmitting mail correspondence. In addition, Jennifer is responsible for the coordination of company meetings and assisting brokers with general administrative tasks.
// REACH OUT TO THE LAS VEGAS OFFICE //
LAS VEGAS PHONE DIRECTORY INDUSTRIAL
LAND
MEDICAL OFFICE
Susan Borst
+1 702 836 3719
Scott Gragson
+1 702 836 3730
Dan Doherty
+1 702 836 3707
Steven Haynes
+1 702 836 3727
Jerry Doty
+1 702 836 3735
John Kilpatrick
+1 702 499 8999
Tyler Jones
+1 702 836 3754
Pat McNaught
+1 702 836 3798
Suzette LaGrange
+1 702 836 3799
Chris Lane
+1 702 836 3728
Mike Stuart Robert Torres
+1 702 836 3739 +1 702 836 3788
Richard Koldewyn
+1 702 836 3738
Pat Marsh
+1 702 836 3741
Evan Ranes
+1 702 836 3749
Sam Newman
+1 702 836 3724
Brandon Roper
+1 702 836 3734
Andrea Oceguera
+1 702 836 3752
Alyssa Parks
+1 702 836 3755
Spencer Pinter
+1 702 836 3776
Brian Riffel
+1 702 836 3773
HOTEL/RESORT Mike Mixer
+1 702 836 3777
Dharmesh Patel
+1 702 836 3713
Alexander Stanisic +1 702 836 3742 Paul Sweetland
+1 702 836 3750
Kara Walker
+1 702 836 3705
Dean Willmore
+1 702 836 3763
Mike Willmore
+1 702 836 3748
OFFICE Chris Connell
+1 702 836 3709
Patti Dillon
+1 702 836 3790
Logan Etherington +1 702 836 3700 Phillip Frank
+1 702 836 3775
Andrew Kilduff
+1 702 836 3718
Rebecca Staniec
+1 702 836 3792
Taber Thill
+1 702 836 3796
RETAIL Chris Clifford
+1 702 836 3746
George Connor
+1 702 836 3786
Julie Dornak
+1 702 836 3770
Phillip Dunning
+1 702 836 3766
Dan Gluhaich
+1 702 836 3757
David Grant
+1 702 836 3785
Jennifer Lehr
+1 702 836 3736
Scot Marker
+1 702 836 3782
Steve Neiger
+1 702 836 3760
Brett Rather
+1 702 836 3794
Al Twainy
+1 702 836 3725
INVESTMENT SERVICES Joe Bonifatto
+1 702 836 3729
Brian Fike
+1 702 836 3744
Tom Naseef
+1 702 836 3720
Gabriel Skerlich Grant Traub
+1 702 836 3708 +1 702 836 3789
+1 702 836 3778
Stacy Scheer
+1 702 836 3762
VALUATION SERVICES
PROPERTY MANAGEMENT Erica Aulino
+1 702 836 3745
Valerene Corbin
+1 702 836 3761
Kiara Davis
+1 702 836 3740
Jennifer Kennedy
+1 702 836 3772
Breanna Lara
+1 702 836 3753
Gretchen Lee
+1 702 836 3704
Angelina Scarcelli
+1 702 836 3768
STAFF
GOLF COURSE Keith Cubba
Alexia Crowley
+1 702 836 3733
MULTI-FAMILY Christopher Bentley
+1 702 836 3779
Garry Cuff
+1 702 836 3716
Jeff Naseef
+1 702 836 3731
Tom Naseef
+1 702 836 3720
Nicole Cauilan
+1 702 836 3706
Courtney Goffstein +1 702 836 3710 Sara Johansson
+1 702 836 3771
Gina Jones
+1 702 836 3783
Jennifer Manning
+1 702 836 3701
Matt Stater
+1 702 836 3781
Chris Sutton
+1 702 836 3721
RECEIVERSHIP Christopher LoBello +1 702 836 3714
// COLLIERS INTERNATIONAL LAS VEGAS //
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JANUARY 2019
LAS VEGAS
INSIDER A COMMUNICATION FOR BROKERS, EMPLOYEES, COLLEAGUES AND FRIENDS
About Colliers International Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) is top tier global real estate services and investment management company operating in 69 countries with a workforce of more than 13,000 professionals. Colliers is the fastest-growing publicly listed global real estate services and investment management company, with 2017 corporate revenues of $2.3 billion ($2.7 billion including affiliates). With an enterprising culture and significant employee ownership and control, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide, and through its investment management services platform, has more than $20 billion of assets under management from the world’s most respected institutional real estate investors. Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice to accelerate the success of its clients. Colliers has been ranked among the top 100 global outsourcing firms by the International Association of Outsourcing Professionals for 13 consecutive years, more than any other real estate services firm. Colliers is ranked the number one property manager in the world by Commercial Property Executive for two years in a row. Colliers is led by an experienced leadership team with significant equity ownership and a proven record of delivering more than 20% annualized returns for shareholders, over more than 20 years. For the latest news from Colliers, visit Colliers.com or follow us on Twitter: @Colliers and LinkedIn.