HFF is proud to have all 23 of its U.S. offices and a total of 71 brokers recognized as 2016 Power Broker winners by CoStar, the largest professional research organization serving the commercial real estate industry.
Celebrating its 16th anniversary, CoStar 2016 Power Broker Awards are given to both firms and individuals with the highest transaction volume in commercial property sales in their corresponding markets throughout the year. For property sales, awards are presented based on highest sales dollars, while leases are upon square footage. CoStar has recognized more than 250,000 industry leaders for their success in the commercial real estate market.
Three offices, Indianapolis, Los Angeles and Phoenix, were added to CoStar's Top Sales Firm list for 2016. HFF Phoenix opened in July 2016, making it the newest HFF office in the United States. Led by HFF Senior Managing Director and Office Head Jeremy Womack, HFF Phoenix has hit the ground running, already making its mark in the city, which is known for its pro-business mindset and for being a destination for lifestyle seekers. According to Mr. Womack, companies continue to relocate to the Phoenix metro in an effort to provide a workplace that enjoys a low cost of living and numerous cultural and outdoor activities.
“The Phoenix office of HFF continues the westward expansion of the company into a market that we believe is poised to outperform its competitive set in the coming years,” Mr. Womack said. “The Phoenix real estate community has embraced HFF’s trusted advisor approach to transactions and has responded to our presence by awarding several significant assignments to us in the short time that we’ve had an office open here. The Phoenix market is one of the largest MSAs in the country, and now with our presence, we can connect local real estate opportunities to national and international capital providers in an extremely effective manner.”
In 2016, Los Angeles saw an increase in sales of many property types, including retail, office, multi-housing, industrial and hotel properties. In addition to the CoStar honors, Real Estate Alert recognized HFF Los Angeles as the No. 1 Top Broker of Multi-Family Properties for the first half of 2016 and the No. 3 Top Office Brokers in Los Angeles for 2016.
"Our Investment Sales teams saw significant gains in market share," said Senior Managing Director Paul Brindley, co-head of HFF's Los Angeles office. "We attribute this to our team members who practice the business according to our Guiding Principles and who put the best team on the field for each assignment and the client’s interest first.”
According to HFF Senior Managing Director John Merrill, who is co-head of HFF's Indianapolis office, the Indianapolis market also experienced an increase in sales in all property type, most notably in the office sector.
"Last year, Indianapolis saw a 20 percent increase in office sales, which were focused in the CBD and the North Central Suburban markets," Mr. Merrill said. "Investor interest in multi-family and industrial property types also remained very robust, as fundamentals remained strong."
CoStar's 1,600-plus researchers operate the largest independently-researched database of commercial real estate properties. CoStar's database features more than 4.3 million commercial properties and transactions. Overall, the total square footage of gross building area tracked and maintained surpasses 95 billion square feet.
The following HFF offices and individual brokers were named to the 2016 Power Broker list: