Colliers · Balanoff Industrial Team · Internal Analysis

Prologis NJ Portfolio  Broker Concentration Analysis

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Colliers · Balanoff Industrial Team · Internal Analysis
About This Report

This report maps the full broker landscape across Prologis' 239-building New Jersey industrial portfolio and makes the case for why the Colliers Balanoff Team is the right choice for an expanded listing mandate. It is organized into five sections, each building on the last.


It begins with a Portfolio Overview — breaking down the 52 currently active listings, 41 buildings with no broker assigned, and 146 occupied buildings already carrying agency relationships, providing a clear picture of how the portfolio is structured and where the opportunities lie.


From there, Broker Concentration quantifies how thoroughly JLL, CBRE Monahan, and KBC Advisors control the active pipeline, collectively holding over 75% of available square footage across the NJ market. This section makes plain that the current distribution of Prologis assignments is highly concentrated among a small group of firms — and that Colliers, despite strong performance, holds just 3% of that active SF.


The Days on Market section benchmarks leasing velocity across every active broker group and shows that despite our limited footprint, the Colliers Balanoff Team is outperforming the Somerset County submarket average by 243 days — the strongest relative performance of any group in the portfolio.


The Conflict Depth tab documents the competing-owner agency conflicts each major firm carries across the NJ market. JLL, CBRE Monahan, and KBC each simultaneously represent dozens of landlords who compete directly with Prologis for tenants in the same submarkets — a structural tension that cannot be fully resolved so long as those mandates coexist. Colliers Balanoff carries zero competing-owner conflicts in Prologis' active submarkets.


Finally, The Colliers Case brings everything together — our completed deal, our active listing, and a detailed Revenue to Capture analysis that translates the market data into real dollar figures: what competing brokers are earning across both new-deal listing fees and renewal business, what Colliers is currently capturing, and what a 10-, 15-, or 20-building Prologis mandate would mean for the team at every lease term.

Portfolio Overview

Total Buildings
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Active Listings
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Currently available & assigned
No Active Broker Assigned*
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Assigned · Not Active
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Occupied buildings w/ broker assigned
JLL
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CBRE Monahan
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KBC Advisors
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Total Assigned vs. Active Listings — by Broker
Dark = occupied/not listed · Light = currently active & available
Available SF by Broker
Active listings only · 7.8M SF total
A Note on Broker Relationships

We understand the value of long-standing relationships — loyalty to a broker who helped sell or lease a building is real and we respect it. But Prologis' NJ portfolio isn't a collection of one-off deals. A significant portion of these assets came through corporate acquisitions — when Prologis acquired AMB, Catellus, and other platforms, entire portfolios transferred overnight. Those buildings inherited agency relationships that were never competitively chosen for the Prologis mandate. With 41 buildings carrying no broker at all and another 146 assigned but sitting occupied, the question worth asking is: when these come back to market, is the right team already in place — or is there an opening for a firm with zero conflicting mandates and a track record of outperforming the submarket?

* Buildings with no leasing broker of record listed in CoStar.

Broker Concentration

All Assigned Buildings — RBA (SF)
239 total buildings · 60.7M SF
Portfolio Share — Building Count
Including 41 unassigned buildings
Full Portfolio — All 239 Buildings
Teams with 6+ buildings shown individually · remainder rolled into Others · Colliers Balanoff always shown
TeamFirmBldgsTotal RBAPortfolio %Active ListingsAvg DOM
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DOM from dateOnMarket to May 1, 2026. Occupied buildings excluded from active listings view.

Days on Market

JLL Avg DOM
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CBRE Monahan Avg DOM
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KBC Advisors Avg DOM
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Colliers Balanoff
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Submarket avg 734d — outperforming
Average DOM by Firm
Active assigned listings
DOM Distribution — Big Three (Prologis listings)
Each dot = one Prologis listing · hover for address, submarket & days on market
Stale Listings — 600+ Days
TeamAddressSubmarketAvail SFDOM
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Colliers outperforms the Somerset County submarket average (734d).

Conflict Depth

Other Owners
45
Besides Prologis
Prologis Share
13.4%
13 of 97 JLL NJ listings
Prologis Avg DOM
621d
vs. 480d other owners
Contested Submarkets
3
Exit 8A · Meadowlands · Port North
Listing Count
Prologis vs. others
Available SF
Prologis vs. others
Avg DOM by Submarket
Prologis vs. others at JLL
SF Share — Contested Mkts
Prologis vs. competing SF
Submarket Head-to-Head
Active   Occupied / assigned
Exit 8A
Prologis
4 active · 6 occupied · 800K SF avail
11 Others
15 listings · 1.95M SF
▲ Prologis 514d · Others 495d · gap +19d
Meadowlands
Prologis
7 active · 13 occupied · 350K SF avail
10 Others
13 listings · 496K SF
▲ Prologis 612d · Others 347d · gap +265d
Port North
Prologis
2 active · 6 occupied · 239K SF avail
8 Others
12 listings · 1.08M SF
▲ Prologis 869d · Others 626d · gap +243d
JLL Listing Map — NJ
Prologis Other owner
All 45 Ownership Groups JLL Represents — Besides Prologis
Sorted by SF · green <180d · amber 180–500d · red >500d
OwnerSubmarket(s)ListingsAvail SFAvg DOM
JLL Agencies tab · Prologis NJ Portfolio, July 2026.
Other Owners
19
Besides Prologis
Prologis Share
30.0%
15 of 50 CBRE NJ listings
Prologis Avg DOM
382d
vs. 546d for other owners
Contested Submarkets
4
Meadowlands · Port North · Port South · Exit 10
Listing Count
Prologis vs. other owners
Available SF
Prologis vs. other owners
Avg DOM by Submarket
Prologis vs. others at CBRE
SF Share — Contested Mkts
Prologis vs. competing SF
Submarket Head-to-Head
Active   Occupied / assigned
Meadowlands
Prologis
6 active · 0 occupied · 418K SF avail
6 Others
9 listings · 1.31M SF
▼ Prologis 331d · Others 494d · leases 163d faster
Port North
Prologis
4 active · 0 occupied · 304K SF avail
2 Others
6 listings · 635K SF
▼ Prologis 382d · Others 600d · leases 218d faster
Port South
Prologis
3 active · 0 occupied · 987K SF avail
2 Others
3 listings · 485K SF
▼ Prologis 245d · Others 454d · leases 209d faster
Exit 10
Prologis
2 active · 0 occupied · 151K SF avail
4 Others
4 listings · 946K SF
▲ Prologis 742d · Others 452d · gap +290d
CBRE Monahan Listing Map — NJ
Prologis Other owner
All 19 Ownership Groups CBRE Monahan Represents — Besides Prologis
Sorted by SF · green <180d · amber 180–500d · red >500d
OwnerSubmarket(s)ListingsAvail SFAvg DOM
Source: CBRE-MonahanAgencies tab · July 2026. Prologis outperforms other CBRE Monahan clients in 3 of 4 contested submarkets.
Other Owners
32
Besides Prologis
Prologis Share
13.6%
8 of 59 KBC NJ listings
Prologis Avg DOM
397d
vs. 471d other owners
Contested Submarkets
3
Exit 8A · Exit 10 · Exit 7A
Listing Count
Prologis vs. other owners
Available SF
Prologis vs. other owners
Avg DOM by Submarket
Prologis vs. others at KBC
SF Share — Contested Mkts
Prologis vs. competing SF
Submarket Head-to-Head
Active   Occupied / assigned
Exit 8A
Prologis
3 active · 7 occupied · 738K SF avail
7 Others
11 listings · 1.08M SF
▲ Prologis 466d · Others 412d · gap +54d
Exit 10
Prologis
4 active · 7 occupied · 712K SF avail
3 Others
3 listings · 513K SF
▼ Prologis 399d · Others 633d · gap -234d
Exit 7A
Prologis
1 active · 3 occupied · 248K SF avail
5 Others
7 listings · 2.27M SF
▼ Prologis 179d · Others 544d · gap -365d
KBC Listing Map — NJ
Prologis Other owner
All 32 Ownership Groups KBC Represents — Besides Prologis
Sorted by SF · green <180d · amber 180–500d · red >500d
OwnerSubmarket(s)ListingsAvail SFAvg DOM
KBC Agencies tab · Prologis NJ Portfolio, July 2026.
Revenue Opportunity — The Cost of Limited Access
At a 7-year average lease term, competing brokers across the active Prologis NJ portfolio are positioned to earn a combined $36.8M in listing fees and renewal commissions — of which Colliers currently captures just $740K. That represents a substantial gap in Colliers house revenue alone.
The current Prologis NJ assignment structure leaves Colliers competing for a single active listing — 237,870 SF, or roughly 3% of the active pipeline — while JLL, CBRE Monahan, and KBC Advisors each control millions of square feet of available space and, critically, the continuous renewal income that flows from their full assigned portfolios. That renewal business is an entirely separate revenue stream: it requires no new listing, no new tenant, and no new competition — it is simply the product of holding an assigned building relationship. Colliers earns zero renewal revenue today because we hold no assigned buildings beyond our current active listing. Every deal a competitor closes deepens that advantage — adding not just a one-time listing fee, but a permanent renewal relationship that will generate commissions for years to come. The Revenue to Capture analysis below quantifies both revenue buckets in full, models what a 10-, 15-, or 20-building Prologis mandate would mean for our team, and makes clear that the gap between where Colliers stands today and where we could be is not a question of performance. It is a question of access.
Portfolio SF Funnel
Total Prologis Listings SF
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Platform Acquisitions
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Non-Platform Sale (Broker Involved)
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Potentially Unassigned
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Time on Market (700+ Days)
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Where the opportunity lies: A significant share of this portfolio was acquired through platform deals — buildings where no broker earned the assignment through a sale — alongside properties with no leasing broker of record and listings that have sat on the market for more than 700 days. These are the openings where Colliers can win the business without displacing an entrenched broker relationship.

Revenue to Capture

Two separate revenue buckets: Active Listings (new deals, 2.5% fee) and Assigned Buildings (renewal business, 1.5% fee). Colliers currently holds only an active listing — zero assigned buildings means zero renewal market share today.

Internal Use Only
Market Assumptions
Avg NNN Rent (NJ):$16.00 PSF
Annual Escalation:3.5%
Avg Building Size:253,000 SF
Active Listing Fee:2.5% of aggregate net rent (new deals only)
Renewal Fee:1.5% of aggregate net rent (assigned buildings only)
Renewal Turnover (default):15% of assigned SF in a given year
Lease Terms Modeled:5, 7, and 10 Years
📋 Active Listings — New Deal Fee
Fee rate is fixed at 2.5% of aggregate net rent for all groups.
Select lease term below to update all values.
🔄 Assigned Buildings — Renewal Turnover Rate
Default: 15% · Fee: 1.5% of aggregate net rent
Applies to all groups' assigned RBA
Colliers: shows impact of gaining assigned bldgs
Select Lease Term — applies to both buckets
Bucket 1 — All Listings (Available & Occupied)
Each broker's full Prologis assignment vs. the competing owner listings they carry in NJ
Broker Group Prologis Assignments Competing Listings — Other Owners
# of Buildings Total RBA Available SF # of Buildings Total RBA Available SF
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Bucket 2 — Active Listings (New Deals)
Fee applies to each group's currently available SF · 100% new deals · No renewal component
2.5% of Aggregate Net Rent
52 active listings · Avg $16.00 NNN · 3.5% escalations · 5-year term · 2.5% fee (new deals)
Broker Group Available SF Aggregate Net Rent Listing Fee @ 2.5%
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Bucket 3 — Assigned Buildings (Renewal Business)
Applied to each group's total assigned RBA · Turnover % adjustable above · Colliers = $0 today (no assigned buildings)
1.5% of Aggregate Net Rent
Based on 15% of each group's assigned RBA renewing · Avg $16.00 NNN · 3.5% escalations · 5-year term · 1.5% fee
Broker Group Assigned RBA Renewing SF (15%) Aggregate Net Rent Renewal Fee @ 1.5%
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Combined Revenue — Buckets 2 & 3
Active listing fees (2.5%) + renewal fees (1.5% on 15% of assigned SF) · 5-year term
Broker Group Listing Fee (New) Renewal Fee Total Revenue
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2027 Projection — Colliers Growth Scenarios
What Colliers earns across both revenue buckets (2 & 3) as assigned building count grows. Competitors use current active pipeline (listing fees) + current assigned RBA (renewal fees) at selected turnover %.
The Core Problem: Without assigned buildings, Colliers participates in only one revenue bucket — and only when it has an active listing. Competitors generate renewal income continuously from their entire assigned portfolios. Every assigned building Colliers gains adds a permanent renewal revenue stream on top of any future listing fees.
Scenario Listing Fee Renewal Fee Total
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All figures are estimates for illustrative purposes only. Active listing fees: 2.5% of aggregate net rent over full lease term (new deals only). Renewal fees: 1.5% of aggregate net rent, applied to the selected turnover % of each group's assigned RBA. Aggregate net rent = SF × $16.00 × [(1+3.5%)^term − 1] / 3.5% (except Colliers completed deal which uses actual terms: $18.50 NNN, 10-year term, 2.0% one-off fee). Assigned RBA sources: JLL 16,180,039 SF · CBRE Monahan 14,463,260 SF · KBC Advisors 8,753,914 SF · All Other Brokers (C&W teams, Newmark, Lee, AY) combined 9,244,902 SF · Colliers Balanoff 653,792 SF (active listing building; zero renewal business currently). 2027 scenarios assume Colliers gains assigned buildings at avg 253,000 SF each. Internal use only — May 2026.
Portfolio data pulled live from Prologis NJ Portfolio records · Competitor agency data as of July 2026. Internal use only.