Commercial developers
Office, industrial and mixed-use developers and developer-investors.
Last updated: 2026-10-20
We do not score developers or builders. We have not published a rubric for them, and they publish no quality or warranty data. Firms are listed alphabetically. NMHC ranks are NMHC’s.
Commercial developers rarely publish volumes the way homebuilders do. Trammell Crow Company’s pipeline figure comes from CBRE’s 10-K. Hines’s and Related’s figures come from their own sites, and only Hines dates its figures. We found no independent ranking of commercial developers that we could read, so none is shown.
Profiled in this segment
Hines
Private. Developer, investment manager and property manager, founded 1957.
Self-reports $90.9B AUM, 105.2M sq ft of third-party property services and a presence in 29 countries.
Profile and sources →Related Companies
Private. Developer of Hudson Yards; large affordable housing owner.
NMHC counts 58,483 of its 80,720 owned units as subsidized, so most of its apartments are affordable housing.
Profile and sources →Trammell Crow Company
Subsidiary of CBRE; development line of CBRE’s Real Estate Investments segment.
CBRE says TCC has been the largest U.S. commercial real estate developer for more than a decade (company claim).
Profile and sources →Who each is actually for
Based on what the cited sources say, not on reviews. If we had no source, the cell is left out.
| Firm | Fit signals from the sources |
|---|---|
| Hines | Institutional and private-wealth investors wanting a developer-led manager. Owners hiring third-party property management for office and mixed-use. |
| Related Companies | Cities and public agencies looking for a large mixed-use or affordable housing developer. Renters in affordable housing: most of its NMHC-counted units are subsidized. |
| Trammell Crow Company | Corporate occupiers wanting a build-to-suit developer tied to a leasing platform. Investors co-investing in development deals. |
Last verified 2026-10-20. Figures were re-read from the linked sources that day.
View changelog
- Section published: hub, four sub-hubs, nine profiles and three comparisons, from 10-Ks, NMHC 2026 lists and firm pages read this day.
Sources
- Hines, home page · accessed 2026-10-20
- Hines, About · accessed 2026-10-20
- NMHC, 2026 Top 50 Owners · accessed 2026-10-20
- NMHC, 2026 Top 50 Managers · accessed 2026-10-20
- Related Companies, Our Company · accessed 2026-10-20
- CBRE Group Form 10-K for 2025 · accessed 2026-10-20