NAI Ruhl Commercial Co. led the Commercial Multiple Listing Service, or MLC, last year with more than $133 million in sales volume and "there is a strong pipeline of deals rolling as we begin 2018," the company's president said Monday.
"We’re delighted to finish another strong year and proud to be able to announce we’re first in the Quad-Cities area commercial real estate market for 2017," John Ruhl said.
The $133.04 million in sales volume included listings and sales from the Quad-Cities Area Realtor Association, Realtor Association of Northwestern Illinois and East Central Iowa Association of Realtors. Headquartered in Davenport, NAI Ruhl's footprint includes eastern Iowa, western Illinois and southwest Wisconsin.
In 2017, the company sold 186 properties as either the listing or selling agent as well as listed 394 new properties for sale or lease.
The total is up from 2016 when sales volume was $112 million and agents leased 144 units and sold 126 total units.
Ruhl said NAI Ruhl Property Management also boasted a strong year with a 13 percent increase in its client management portfolio over 2016. It now has nearly 2 million square feet of real estate under management.
"This is a very exciting time to be working in commercial real estate and the success of our team members greatly impacts our position in the market," Ruhl said, applauding his agents and staff for their hard work.
He said continued economic improvement is helping to drive the increased commercial activity. "We're seeing more and more demand for new, small retail product, which is causing people to buy land and do conversions."
Some of the larger projects in 2017, such as the new Costco that was announced for Davenport and other, "also are causing additional activity," Ruhl said. He added that the economy has companies eyeing growth, including new expansions or renewals of existing leases.
"Based on what we are seeing in activity by our team early in the year and with current deals written we expect more of the same in terms of transactional activity," he added.
NAI Ruhl Commercial, with offices in the Quad-Cities and Galena, Illinois, ended the year with 18 commercial agents and 14 staff.