Industry Description
This industry comprises establishments primarily engaged in acting as lessors of buildings (except miniwarehouses and self-storage units) that are not used as residences or dwellings. Included in this industry are: (1) owner-lessors of nonresidential buildings; (2) establishments renting real estate and then acting as lessors in subleasing it to others; and (3) establishments providing full service office space, whether on a lease or service contract basis. The establishments in this industry may manage the property themselves or have another establishment manage it for them.
Cross-References. Establishments primarily engaged in--
Business Examples
Common types of business activities within NAICS 531120 - Lessors of Nonresidential Buildings (except Miniwarehouses are:
- Flea market space, under roof, rental or leasing
- Amusement facility rental or leasing
- Nonresidential building (except miniwarehouse) rental or leasing
- Commercial building rental or leasing
- Motel building rental or leasing, not operating motel
- Stadium rental or leasing without promotion of events
- Shopping center (i.e., not operating contained businesses) rental or leasing
- Arena, no promotion of events, rental or leasing
- Dock and associated building rental or leasing
- Concert hall, no promotion of events, rental or leasing
- Medical building rental or leasing
- Banquet hall rental or leasing
- Piers and associated building rental or leasing
- Manufacturing building rental or leasing
- Building, nonresidential (except miniwarehouse), rental or leasing
- Industrial building rental or leasing
- Hotel building rental or leasing, not operating hotel
- Full service office space provision
- Lessors of nonresidential buildings (except miniwarehouses)
- Bank building rental or leasing
- Reception hall rental or leasing
- Conference center, no promotion of events, rental or leasing
- Auditorium rental or leasing
- Mall property operation (i.e., not operating contained businesses) rental or leasing
- Hall and banquet room, nonresidential, rental or leasing
- Exhibition hall, no promotion of events, rental or leasing
- Equity real estate investment trusts (REITs), primarily leasing nonresidential buildings (except miniwarehouses)
- Dance hall rental or leasing
- Mobile office building rental or leasing, on-site
- Office building rental or leasing
- Professional office building rental or leasing
- Real estate rental or leasing of nonresidential building (except miniwarehouse)
- Theater property rental or leasing, not operating theater
- Executive suites (i.e., full service office space provision)
- Convention center, no promotion of events, rental or leasing
- Hall, nonresidential, rental or leasing
- Meeting hall and room rental or leasing
- Insurance building rental or leasing
IBISWorld Industry Research Report
Commercial Leasing in the US (53112)
Revenue 2025
$265.2bn
Growth 2025
0.19%
Key Trends
Commercial leasing companies benefited from the growth in the number of businesses
The office rental vacancy rate remains elevated
Revenue for the industry will recover over the five years to 2028, primarily as a result of broad economic factors
Products and Services
Similar Industries
For some business types, there may be a similar industry to 531120 - Lessors of Nonresidential Buildings (except Miniwarehouses that is a better classification match. Establishments primarily engaged in:
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NAICS Cross Reference
Operating public and contract general merchandise warehousing and storage facilities--are classified in Industry 493110, General Warehousing and Storage.
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NAICS Cross Reference
Acting as lessors of buildings used as residences or dwellings--are classified in Industry 531110, Lessors of Residential Buildings and Dwellings;
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NAICS Cross Reference
Renting or leasing space for self-storage--are classified in Industry 531130, Lessors of Miniwarehouses and Self-Storage Units;
IBISWorld industry research report
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NAICS Cross Reference
Managing nonresidential real estate for others--are classified in U.S. Industry 531312, Nonresidential Property Managers;
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NAICS Cross Reference
Providing a range of office support services, such as mailbox rental, other postal and mailing (except direct mail advertising) services, document copying services, facsimile services, word processing services or on-site personal computer rental, that are not providing office space--are classified in Industry 56143, Business Service Centers;
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NAICS Cross Reference
Managing and operating arenas, stadiums, theaters, or other related facilities and promoting and organizing performing arts productions, sports events, and similar events at those facilities--are classified in Industry 711310, Promoters of Performing Arts, Sports, and Similar Events with Facilities; and
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NAICS Hierarchy 531120 - Lessors of Nonresidential Buildings (except Miniwarehouses
NAICS Code 531120 - Lessors of Nonresidential Buildings (except Miniwarehouses sits in the 2-digit Lessors of Nonresidential Buildings (except Miniwarehouses sector. NAICS codes can be 2- to 6-digits and the further along the hierarchy, the more detailed and specific the category will be. Learn more about the structure of NAICS codes
2 Digits: 53
Sector Title: Real Estate and Rental and Leasing
3 Digits 4 Digits 5 Digits 6 Digits
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5311 Lessors of Real Estate
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53111 Lessors of Residential Buildings and Dwellings
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53112 Lessors of Nonresidential Buildings (except Miniwarehouses
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53113 Lessors of Miniwarehouses and Self-Storage Units
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53119 Lessors of Other Real Estate Property
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5312 Offices of Real Estate Agents and Brokers
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53121 Offices of Real Estate Agents and Brokers
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5313 Activities Related to Real Estate
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53131 Real Estate Property Managers
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53132 Offices of Real Estate Appraisers
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53139 Other Activities Related to Real Estate
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5321 Automotive Equipment Rental and Leasing
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53211 Passenger Car Rental and Leasing
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53212 Truck, Utility Trailer, and RV (Recreational Vehicle) Rental and Leasing
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5322 Consumer Goods Rental
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53221 Consumer Electronics and Appliances Rental
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53228 Other Consumer Goods Rental
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5323 General Rental Centers
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53231 General Rental Centers
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5324 Commercial and Industrial Machinery and Equipment Rental and Leasing
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53241 Construction, Transportation, Mining, and Forestry Machinery and Equipment Rental and Leasing
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53242 Office Machinery and Equipment Rental and Leasing
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53249 Other Commercial and Industrial Machinery and Equipment Rental and Leasing
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5331 Lessors of Nonfinancial Intangible Assets (except Copyrighted Works
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53311 Lessors of Nonfinancial Intangible Assets (except Copyrighted Works
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