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After years in the industry, Cresa's founders recognized that the existing commercial real estate model was broken and inherently unfair to occupiers. They set out to level the playing field, acting as unbiased advisors exclusively for corporate space users. [citation needed] By 1995, Cresa had grown to 30 cities.
Keller Williams continued expanding and in 2007, the company launched Luxury Homes by Keller Williams, a division within the company that brokers luxury only real estate. [11] In 2008, it launched KW Commercial, a division providing commercial real estate associates with specialized technology, marketing tools, and resources. [12]
Corporate real estate is the real property held or used by a business enterprise or organization for its own operational purposes. A corporate real estate portfolio typically includes a corporate headquarters and a number of branch offices, and perhaps also various manufacturing and retail sites. [1]
Cushman & Wakefield is among the world's largest commercial real estate services firms, with revenues of US$9.5 billion in 2023. The company operates from approximately 400 offices in 60 countries, has around 52,000 employees and manages about 5,100 million sq ft (470 million m 2) of commercial space. [3]
A real estate investment trust (REIT, pronounced "reet" [1]) is a company that owns, and in most cases operates, income-producing real estate.REITs own many types of commercial real estate, including office and apartment buildings, studios, warehouses, hospitals, shopping centers, hotels and commercial forests. [2]
Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others.