Property Managers Fend Off Hagglers, See More Lookers

by George Waldon  on Monday, Jul. 27, 2009 12:00 am  

Losses were more common than gains among this year's list of largest commercial property management firms. Most simply held steady.

(Click here to see the list of the state's largest commercial property management firms. A spreadsheet version is also available.)

Among the top 20 firms, four reported losses in total space managed while four recorded gains.

And amid the recession's real estate turbulence, property managers reported an increase in the number of deal-seekers.

Colliers International topped the 10.4 million-SF mark, retaining the No. 1 spot. That reflects a nearly 7.5 percent gain over its 2008 total of more than 9.7 million SF.

Flake & Kelley Commercial stayed at No. 2 despite a 19 percent drop from more than 8 million SF in 2008 to about 6.5 million SF this year.

Cooper Realty Investments of Rogers (No. 4 at 2.1 million SF) experienced a 12 percent decline. R.H. Ghan Commercial Properties of Fort Smith (No. 7 with more than 1.2 million SF) saw a whopping 47 percent increase.

At the other end of the spectrum was North Little Rock's Grubb & Ellis/Solomon Partners (No. 8 with more than 1.1 million SF), which fell by 43 percent.

Cypress Properties (No. 12 with more than 1 million SF) increased 6.7 percent. RPM Management of Little Rock (No. 14 with 915,000 SF) climbed more than 14 percent to round out the gainers.

Stephens Real Estate Investments (No. 20 with 423,000 SF) declined by 43 percent, which coincided with the razing of a half block of buildings along Main Street in downtown Little Rock.

Two new names in northwest Arkansas appear on this year's list.

Management Realty of Fayetteville (No. 19 with 560,000 SF) oversees a chunk of commercial space that previously was managed by another Fayetteville concern, Dixie Development.



Please read our comments policy before commenting.