- Brokerage boom delivers record Q1 revenue for JLL and Newmark, following CBRE’s strong results.
- JLL posted $6.4B in revenue and a 188% profit increase, while Newmark’s revenue jumped 27.2%.
- Leasing, property sales, and capital markets drive the growth, with AI office demand fueling leasing activity.
- Global sales transactions are projected to hit $600B in 2026, indicating sustained deal momentum.
Record Revenue Signals CRE Rebound
CoStar reports that a brokerage boom is fueling record earnings at some of the world’s largest commercial real estate services firms. JLL and Newmark both reported their highest-ever first-quarter revenues, driven by stronger leasing, capital markets, and property sales activity. This builds on similarly strong results from CBRE and positions 2026 as the most profitable year for CRE dealmaking since before the pandemic.
Investor Momentum Builds
JLL, based in Chicago, reported Q1 revenue of $6.4B—an 11% year-over-year increase—alongside a 188% profit surge to $159M. Newmark Group’s revenue rose 27.2% to $846.5M, with a nearly 60% profit increase. Both firms attribute growth to broad-based demand across management, leasing, and capital markets. AI-driven office demand, particularly from tech and financial services firms, is keeping leasing activity robust, especially in coastal US markets, with surging demand tied to digital infrastructure and hyperscale expansion further reinforcing leasing momentum across key hubs.
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Global Capital Markets Recover
Double-digit increases in sales and financing volumes underscore the brokerage boom. JLL’s capital markets revenue rose 21%, while Newmark’s investment sales and financing jumped 46%. Analysts project global sales transactions will rise by 10% to $600B for 2026, marking a broad CRE market recovery. CBRE’s recent earnings show similar momentum, reflecting growing investor confidence and deal flow across asset types and geographies.
Why It Matters
This brokerage boom signals a durable post-pandemic rebound for global CRE services. While economic and geopolitical uncertainty persists, industry leaders report minimal direct impact on business outside the Middle East and Europe. Tight supply, rising tenant demand for space and advisory services, and strong capital market activity continue to support high transaction volumes.
What’s Next
With JLL, Newmark, and CBRE projecting continued growth, CRE brokerage remains resilient. Companies are watching global events but remain upbeat about sustained deal momentum. As AI office demand and capital markets activity intensify, the CRE brokerage sector is set for another record-breaking year.
