MLS: Multiple Listing Service
What are the top commercial MLS options?
Unlike residential real estate, commercial real estate does not have one centralized MLS source. There are multiple commercial MLS choices, including LoopNet which is a top leader, as well as several newer companies entering the space. In this article, we review the top commercial MLS options.
LoopNet is possibly the most notable commercial MLS, with eight million registered members and five million unique monthly visitors. Founded in 1995, LoopNet eventually became apart of the CoStar in 2012 through a $860 million acquisition. Despite LoopNet’s dominance, a variety of other commercial listing services, such as CREXi and Real Massive are making strides in catching up.
Showcase (also owned by CoStar) is a commercial MLS created for the general public. Showcase is designed to make it easier for the average tenant or investor to search for property. Showcase is free to use and has over 1.4 million active listings.
CoStar is likely the largest owner of commercial multiple listing services. CoStar owns LoopNet, CityFeet, Showcase, BizBuySell, Apartments.com, and a variety of other multiple listing services. In addition, CoStar sells a variety of CRE data products, including sale/lease analytics as well as investment analysis software.
42 Floors is a popular MLS platform with a focus mainly on leasing office space. The service lists office, retail, and co-working spaces, with an emphasis in major markets. In 2018, the company was acquired by Knotel, an office rental space company based in NYC. Like many of these other commercial MLS platforms, 42 Floors offers free basic memberships as well premium memberships for a fee.
Launched in 2015, CREXI (Commercial Real Estate Exchange, Inc.), is quickly becoming a strong competitor in the commercial MLS market. CREXI has facilitated over 500,00 commercial listings, totaling more than one trillion in property value. Unlike other commercial MLS options, CREXI goes beyond listing marketing by simplifying the entire commercial real estate investment process.
CityFeet (also owned by CoStar) mainly focuses on leases and sales of non-multifamily commercial properties in major metropolitan markets. CityFeet also has sections for property auctions and co-working spaces for lease.
Want to learn more? Give us a call at (805) 900-3000 or email us at team@champagneinc.com