Lessors of Nonresidential Buildings (except Miniwarehouses)
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.
Hierarchy
| Code | Title | Description |
|---|---|---|
| 53 | Real Estate and Rental and Leasing 2-digit sector | The Sector as a Whole The Real Estate and Rental and Leasing sector comprises establishments primarily engaged in renting, leasing, or otherwise allowing the use of tangible or intangible assets, and establishments providing related services. The major portion of this sector comprises establishments that rent, lease, or otherwise allow the use of their own assets by others. The assets may be tangible, as is the case of real estate and equipment, or intangible, as is the case with patents and trademarks. This sector also includes establishments primarily engaged in managing real estate for others, selling, renting, and/or buying real estate for others, and appraising real estate. These activities are closely related to this sector's main activity, and from a production basis they are included here. In addition, a substantial proportion of property management is self-performed by lessors. The main components of this sector are the real estate lessors industries (including equity real estate investment trusts (REITs)); equipment lessors industries (including motor vehicles, computers, and consumer goods); and lessors of nonfinancial intangible assets (except copyrighted works). Excluded from this sector are establishments primarily engaged in renting or leasing equipment with operators. Establishments renting or leasing equipment with operators are classified in various subsectors of NAICS depending on the nature of the services provided (e.g., transportation, construction, agriculture). These activities are excluded from this sector because the client is paying for the expertise and knowledge of the equipment operator, in addition to the rental of the equipment. In many cases, such as the rental of heavy construction equipment, the operator is essential to operate the equipment. Also excluded from this sector are mortgage REITs and establishments primarily engaged in managing the financial portfolio assets of REITs on a fee or commission basis. These establishments are classified in Sector 52, Finance and Insurance. |
| 531 | Real Estate 3-digit subsector | Industries in the Real Estate subsector group establishments primarily engaged in renting or leasing real estate to others; managing real estate for others; selling, buying, or renting real estate for others; and providing other real estate related services, such as appraisal services. This subsector includes equity real estate investment trusts (REITs) primarily engaged in leasing buildings, dwellings, or other real estate property to others. Mortgage REITs are classified in Subsector 525, Funds, Trusts, and Other Financial Vehicles. Establishments primarily engaged in subdividing and developing unimproved real estate and constructing buildings for sale are classified in Subsector 236, Construction of Buildings. Establishments primarily engaged in subdividing and improving raw land for subsequent sale to builders are classified in Subsector 237, Heavy and Civil Engineering Construction. |
| 5311 | Lessors of Real Estate 4-digit industry group | This industry group comprises establishments primarily engaged in acting as lessors of (1) residential buildings and dwellings; (2) nonresidential buildings (except miniwarehouses); (3) miniwarehouses and self-storage units; and (4) other real estate property. This industry group includes equity real estate investment trusts (REITs) primarily engaged in leasing buildings, dwellings, or other real estate property to others. |
| 53112 | Lessors of Nonresidential Buildings (except Miniwarehouses) 5-digit NAICS industry | See industry description for 531120. |
| 531120 | Lessors of Nonresidential Buildings (except Miniwarehouses) 6-digit U.S. detail | 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. |
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Classification References
- 01Acting as lessors of buildings used as residences or dwellings--are classified in Industry 531110, Lessors of Residential Buildings and Dwellings;
- 02Renting or leasing space for self-storage--are classified in Industry 531130, Lessors of Miniwarehouses and Self-Storage Units;
- 03Managing nonresidential real estate for others--are classified in U.S. Industry 531312, Nonresidential Property Managers;
- 04Providing 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;
- 05Managing 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;
- 06Operating public and contract warehousing and storage facilities (except self-storage)--are classified in Industry Group 4931, Warehousing and Storage; and
- 07Providing colocation services (i.e., rental of server and networking space in data centers)--are classified in Industry 518210, Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services.
Index Items
Amusement facility rental or leasing
Arena, no promotion of events, rental or leasing
Auditorium rental or leasing
Bank building rental or leasing
Banquet hall rental or leasing
Building, nonresidential (except miniwarehouse), rental or leasing
Commercial building rental or leasing
Concert hall, no promotion of events, rental or leasing
Conference center, no promotion of events, rental or leasing
Convention center, no promotion of events, rental or leasing
Coworking space rental or leasing
Dance hall rental or leasing
Dock and associated building rental or leasing
Equity real estate investment trusts (REITs), primarily leasing nonresidential buildings (except miniwarehouses)
Executive suites (i.e., full service office space provision)
Exhibition hall, no promotion of events, rental or leasing
Flea market space, under roof, rental or leasing
Full service office space provision
Hall and banquet room, nonresidential, rental or leasing
Hall, nonresidential, rental or leasing
Hotel building rental or leasing, not operating hotel
Industrial building rental or leasing
Insurance building rental or leasing
Lessors of nonresidential buildings (except miniwarehouses)
Mall property operation (i.e., not operating contained businesses) rental or leasing
Manufacturing building rental or leasing
Medical building rental or leasing
Meeting hall and room rental or leasing
Mobile office building rental or leasing, on-site
Motel building rental or leasing, not operating motel
Nonresidential building (except miniwarehouse) rental or leasing
Office building rental or leasing
Piers and associated building rental or leasing
Professional office building rental or leasing
Real estate rental or leasing of nonresidential building (except miniwarehouse)
Reception hall rental or leasing
Shared workspace provision
Shopping center (i.e., not operating contained businesses) rental or leasing
Stadium rental or leasing without promotion of events
Theater property rental or leasing, not operating theater
How Item Can Help
Item.com's warehouse management system optimizes inventory storage and retrieval for large building lots, ensuring high turnover rates and minimizing physical space costs while reducing the risk of goods damage during handling.
The order management system integrates inventory levels across multiple fulfillment centers to automatically route customer orders to the nearest location, drastically cutting delivery times and operational costs for this capital intensive sector.
Advanced data analytics provide actionable insights into real estate leasing patterns and market demand fluctuations, enabling businesses to predict maintenance needs, optimize rental pricing strategies, and make data-driven decisions for property management.
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External Resources
Census.gov NAICS Detail
Official US Census Bureau definition and scope for NAICS 531120.
International Real Estate Federation
A global trade organization representing real estate professionals including lessors of nonresidential buildings.
U.S. Census Bureau
Official government data page defining industry classifications for lessors of nonresidential buildings.
GSA Commercial Lease
A U.S. government portal listing nonresidential commercial properties for lease by the General Services Administration.
