Commercial Real Estate’s Leading Independent Information Provider Recognizes Market’s Top Leasing and Sales Brokers

With impressive sales in 2015 and a promising market for 2016, Rhode Island has seen significant improvement in the real estate market. Keeping with this positive trend, one Rhode Island agent was recently honoured as a CoStar Power Broker.

SALES ASSOCIATE GREGORY ARAKELIAN has been named a 2015 CoStar Power Broker TM by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. This annual industry award recognizes distinguished professionals in commercial real estate brokerage by highlighting the achievements of the firms and individual brokers who closed the highest transaction volumes in commercial property sales or leases in 2015 within their respective markets.

With the largest independently researched database of commercial real estate property information available online, CoStar can easily identify the top firms and brokers in each market throughout the U.S. and Toronto, Canada. All awards are based on transaction data maintained in CoStar's commercial real estate database.

ARAKELIAN qualified as one of the top commercial brokers in the PROVIDENCE MARKET based on the total RETAIL LEASING AND SALES transactions he closed during the year. In order to be selected for this honour, ARAKELIAN’S overall transaction volumes were evaluated by CoStar against other commercial real estate brokers active in the region, and subsequently ranked among the top brokers in the market. Significant transactions closed by ARAKELIAN in 2015 included the popular Newport RI restaurant, The Rhumbline, which was one of three restaurants Arakelian sold for the year; a mixed used property in Middletown RI, across from Newport’s First Beach, a first time offering in over 100 years; and the Stonebridge Marina in Portsmouth, the only marina available in the state for the year.

“Being the only broker from a residential firm to win the Power Broker award for the Providence market, I am humbled by this recognition. My firm, Lila Delman Real Estate International, is the go-to for Luxury residential real estate in Rhode Island, and it’s exciting to be involved in advancing our commercial brand to a similar caliber.” - Gregory Arakelian “With such an active year in commercial real estate, CoStar is proud to honor the firms and brokers who perform at the industry’s highest level,” said CoStar Group founder and CEO Andrew C. Florance. “These industry leaders deserve to be recognized for their hard work, expertise and superior deal-making abilities. We extend our congratulations to this year’s winners on their hard earned achievement.”

The complete list of 2015 CoStar Power Broker Awards winners can be found at CoStarPowerBrokers.com.