Las Vegas Insider | January 2019

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

4

FEATURED LISTINGS

8

OFFICE HAPPENINGS

10

COLLIERS IN THE NEWS

11

FEATURED DEALS

12

UPCOMING EVENTS

14

VEGAS BY THE NUMBERS

16

ICEBREAKERS

18

DIRECTORY

19

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

4

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.

6

2018 BENEFICIARIES IN • • • • • • • • • • • • • • • •

8

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

11

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

12 14

18

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

4

// JANUARY 2019 //

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 //

5

// SAVE THE DATE //

6

// JANUARY 2019 //

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.

DOWNLOAD FULL REPORT

TO COLLIERS INTERNATIONAL

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 //

7

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 • • •

8

// JANUARY 2019 //

±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 //

9

// 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:

10

// JANUARY 2019 //

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 //

11

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.

12

// JANUARY 2019 //

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 //

13

UPCOMING EVENTS

MARK YOUR CALENDAR

Photo by Stil on Unsplash

14

// 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 //

15

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.

16

// JANUARY 2019 //

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

65

December 2018 Anniversaries John Kilpatrick

1996

22 Years

Garry Cuff

2010

8 Years

Steve Haynes

2014

4 Years

BROKER OF THE MONTH

1

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 //

17

// 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

18

// 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 //

19

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.