For NovaLoca’s latest sales report, we analyzed a total of 36,868 real estate ads, removing ads from companies that started advertising with us after September 1, 2021. An incredible 32 companies have joined us since September 1, so we look forward to including their mentions on our next divestment report.
In all sectors, 20.45% of the sectors quoted at the start of the period had been divested by December 1. Only 87% of these were replaced, indicating a lack of supply. (This is a replacement of 17.8% expressed as a percentage of the original wallet number).
Highest number of divestments
The Top 5 companies with the highest number of divestments accounted for 27% of all divestments (last year it was 28.5% and the year before 37%).
JLL topped the charts for the third year in a row, but this year it accounted for 8.6% of all sales, up from 6.9% last year. Avison Young has moved up from 4th to 2nd place; Shepherd Commercial moves into 3rd place with 4.7%. DM Hall is a newcomer in the top 5 with 4.1% and Graham + Sibbald is in 5th place with 3.4%
Top companies by percentage of portfolio sold
As before, we looked at companies with an initial portfolio of 25 or more available real estate listings. Our Top 5 sold the highest percentage of their original portfolio. First, we have Telsar selling close to 50% of their portfolio, of which 82% of the industrial listings. Again a reflection of the trend towards lower office and land sales; Stafford Perkins divestments consisted of 17% offices, despite an initial portfolio of 27% offices. The divestments of Derrick Wade Waters were again 15% offices with an initial portfolio consisting of 33% offices. As with Telsar, Industrials are the most dominant in the industrial sector, accounting for the vast majority of their sales. In general, we see companies struggling to replace inventory, but Hexagon Commercial Property & Ometo have endured the trend and managed to more than replace the inventory they’ve divested.