Enabling brokers to send information quickly and ensuring that their messaging and branding are standardized can be challenging. But leveraging a marketing platform that provides email automation tools empowers brokerages to help their team send key information promptly to clients and prospects while providing assurance that all communication is on brand.

Below are six examples of commercial real estate email marketing messages that can be optimized through automation. The list is organized based on specific examples for listing and tenant brokers.

FOR LISTING REPS 

1. Sending Availability Updates

Listing reps can send vacant properties and spaces to tenant reps via newsletter-like emails that keep potential clients up to date about availabilities. An effective marketing tool streamlines the process through automation and leverages a centralized database to ensure consistency across listing data, marketing collateral, branding and contact details. 

For instance, a listing broker working with CommercialEdge Marketing is notified of spaces soon to become available. Before these spaces are listed, the marketing team reviews all space and property information to make sure everything is up-to-date and accurate. Then, using the email marketing tool, the listing rep can easily pull the listings into an email — even before the spaces are listed — and send it out to a pre-built list of tenant reps to let them know of spaces coming on the market. 

2. Responding to Space Inquiries 

When a lead comes in, it’s imperative to promptly get in touch with potential clients to move deals forward. After a phone call to review options and availabilities, the prospect or tenant rep generally requires more information and will request an email summary from the listing rep.  

That is when, instead of having to pull together different brochures and ask someone to update them, the listing rep just clicks a few buttons in CommercialEdge Marketing, selects the spaces they want to share and quickly sends out the email. These messages can include brochures, virtual tours and other engaging marketing collateral.  

And, since the marketing tool is connected to the listing database, all listing data is synced, up-to-date and on-brand, ensuring that the broker only sends out the most accurate information. 

3. Qualifying and Nurturing Leads

Sending follow-up messages is key for qualifying and nurturing leads. Using a comprehensive email marketing platform to send follow-up emails with specific questions is a great way to filter leads and eliminate poor-quality ones. Depending on asset type, questions can pertain to the intended start date of the lease, business specifics, number of people in the company, space preferences, specific requirements and more.   

Consider sending follow-ups to keep prospects engaged during periods of slow activity or after important milestones such as tours or client meetings. Staying in touch with prospects is not only essential for keeping them motivated but also a great way to demonstrate your commitment and willingness to assist.

FOR TENANT REPS 

4. Prospecting for New Clients

A targeted, research-driven process helps tenant reps narrow the prospect pool when prospecting for new business. Tailor-made emails are more likely to engage and prompt action, so it’s essential to communicate based on the specific needs and interests of potential clients.  

Certain factors can help identify the most qualified person when deciding whom to contact with this top-of-the-funnel message type. Contact the right people directly and personally considering: 

• Role and seniority within the organization 
• Level of authority (e.g., they can make budget-related decisions) 
• Prior positive experience/familiarity with your services 

For example, a tenant rep specializing in retail and restaurant space in a specific market puts together a curated list of restaurant operators in that area. Using the CommercialEdge email marketing tool, with just a few clicks, the broker creates a bespoke, branded email that introduces themselves and highlights their market knowledge. This is a great way for listing reps to present their unique perspective in a specific real estate sector and offer their services to potential clients who might be looking to open a new location, relocate or renegotiate their current lease and so on.

5. “Tenants in the Market” Mailing Lists

When working with a tenant with very specific space requirements, tenant reps can use various tools to serve their clients better. For instance, a tenant rep has researched listing marketplaces and has gotten in touch with listing rep brokers but has exhausted all availabilities without finding a space that would meet their client’s requirements. 

A solution, in this case, is using marketing tools that bring this information to the market and uncover space opportunities that cannot be found through typical means. With the CommercialEdge email marketing tool, brokers can create emails encompassing their clients’ needs, and with just a few clicks, send them out to a list of owners and landlord rep-focused brokers in their client’s target market to uncover unlisted availability that meets a unique client requirement.

FOR LISTING AND TENANT REPS 

6. Nurturing Client Relationships

Once a deal is closed, broker-client relationships may not require frequent communication. Still, a proactive approach and occasional check-ins can benefit the parties involved and contribute to building a long-term partnership.  

As a listing rep, consider sending recurring informative emails to a mailing list of existing tenants in the properties you represent. Relevant information can include building-, space- or area-related updates, industry news, market trends and so on. 

As a tenant rep, keep in touch with clients to develop long-term relationships and ensure future collaboration. Consider sending emails in the early stages of the lease term to let tenants know of your availability to assist. Later, send a reminder before lease expiration and offer to discuss the next steps, such as potential lease renewal, extension or finding new space options.

• As a general best practice, we always suggest including a compelling call-to-action and ensuring that your contact details are visible and accessible. In addition, consider including a headshot, which adds a personal touch and contributes to ensuring a brand-consistent experience across your messaging. 

How Commercial Real Estate Email Marketing Tools Help 

Whether you are a listing rep or a tenant rep, an effective marketing plan coupled with a powerful CRE solution can maximize your email marketing strategy — CommercialEdge Marketing optimizes communications through powerful automation. Powered by a single database of real-time property and space information, the marketing solution ensures consistency across your marketing collateral, branding and contact details. 

The CRE solution syncs email marketing processes with your CRM for seamless access to your contact database. And, since segmenting contact lists is an essential step in any commercial real estate email marketing strategy, the CommercialEdge tool allows you to build custom contact lists and group relationships by specific criteria such as market, asset type, lease term and more. This makes it easy to craft more targeted, prospect- and client-facing emails. 

The CommercialEdge Marketing email tools empower you to: 

• Auto-populate email templates and brochures 
• Customize content with an intuitive drag-and-drop editor 
• Automate email sending and scheduling 
• Track and assess performance with real-time email analytics 

What’s more, email and brochure templates are optimized for different devices, from mobile to web browsers, ensuring your content is adapted to and visually appealing on every platform.   

CommercialEdge Marketing is available standalone or fully integrated with Yardi property management software. For Yardi clients, property and space information is in sync with Voyager Commercial to ensure that only the most accurate and up-to-date information is marketed to prospects and clients. 

The post 6 Ways Brokers Benefit from Commercial Real Estate Email Marketing appeared first on CommercialEdge.

This approach boosts efficiency and allows each team member to leverage their own specific skill set in a CRE environment that encourages professionals to share best practices, implement better strategies for clients and develop innovative solutions to common challenges. 

Collaboration Fuels Team Productivity 

By expanding the concept of teams to a regional and national level, the same benefits can be achieved on a wider scale, which helps promote greater accountability and provide a stronger support system for brokers and agents. Through regional and national teams, CRE brokerages can create a more diverse and collaborative environment that can lead to greater success and enhanced revenue. 

The utilization of a team approach can contribute to higher employee retention by ensuring a productive work environment where each broker’s individual strength contributes to a collective expertise that can lead to greater employee satisfaction and performance.  

The importance of a skilled workforce is evident in the most recent Fortune/Deloitte CEO survey as well. According to the study, many CEOs expect that one of the main external factors impacting their business strategy over the next year will be finding and retaining skilled workers. More specifically, most respondents (71%) believe that the overall talent shortage will continue.  

Technology Drives Further Growth 

Encouraging team members to stay connected through various platforms that are specifically designed for seamless collaboration can also increase efficiency. Enhanced internal communication helps better shape common goals, while team productivity-based rewards incentivize brokers to seek more business opportunities.  

What’s more, brokerage workflows can be further optimized with technology that provides valuable functionalities such as automated and transparent CRE commission tracking, invoicing and distribution. 

How CommercialEdge Commissions Empowers Teams 

CommercialEdge Commissions, a complete back-office and commission management solution, makes it easy to track everything from a single location by centralizing all deal data, paperwork, invoice due dates and commission splits.  

Reports for current and previous receivables are automatically generated, streamlining day-to-day operations. The CRE solution allows brokers to generate their own reports at their own time and pace, without having to put in requests and then wait for someone to be available to compile and distribute reports. 

Commissions streamlines the entire process of setting up teams, managing and expanding them, while team managers can access data across the entire group. At the same time, the CRE solution includes flexible permission settings that allow companies to be highly specific about who can see and do what. Commissions also provides options for various levels of hierarchy. 

For larger regional and national brokerages, some organizations using Commissions have set up teams by market, while others have seen success when organizing single market brokerages by unit. 

CommercialEdge Commissions is a CRE solution tailored for pure brokerages and the brokerage divisions of full-service real estate companies. The CRE tool streamlines operations and enables effective team collaboration by leveraging powerful automation and real-time business analytics. 

The post Leverage Team Collaboration Across Your Brokerage to Boost Efficiency and Revenue  appeared first on CommercialEdge.

Key Takeaways:

• Despite record new supply coming online in 2022, the national vacancy rate contracted another 20 basis points from the previous month 
• Strong demand also pushed national industrial in-place rent up 6.5% year-over-year to an average of $7 per square foot in November 
• Single-market vacancy dropped most in Nashville, where the average rate tightened near to 1%
• More than 742 million square feet of industrial space was under construction at the end of November 
• Nearly $79 billion in industrial sales closed year-to-date, with the average sale price up 18% from 2021 
• Inland Empire and Los Angeles were the only U.S. markets to post double-digit rent growth
• Chicago claimed the top Midwest spot for new leases signed at an average of $7.41 per square foot  
• New Jersey industrial lease spreads among the widest in the U.S.    

The industrial sector’s expansion maintained its 2022 momentum through November, as intense demand for industrial space continued to fuel dynamic rent growth. The national average rent for in-place leases reached $7.00 per square foot last month, according to the latest U.S. industrial market report from CommercialEdge.

The new development pipeline also continued to increase, undeterred by inflation-driven backlogs and bottlenecks along the supply chain. There were 742.3 million square feet of industrial space under construction at the end of November. And, despite record levels of new supply delivered in 2022, the national industrial vacancy rate contracted steadily throughout the year, reaching 3.8% in the same month. 

Rents and Occupancy: Record New Supply Can’t Keep Vacancy Rates from Falling

Industrial rent growth accelerated at a steady pace in top U.S. markets throughout the year, with national in-place rents for industrial space increasing 6.5% year-over-year. In November, the national average increased another five cents from the previous month, to reach $7.00 per square foot. 

For another consecutive month, port markets led the nation in both new leases and in-place rent growth. In line with trends observed during the previous two years, Southern California in-place rents have climbed at the fastest rate, driven by double-digit growth in the Inland Empire and Los Angeles markets. On the East Coast, Boston and New Jersey saw the strongest rent hikes. 

Average Rent by Metro

Tenants signing new leases are paying more than ever for space. The average rate of a lease signed in the last twelve months was $9.07 per square foot — $2.07 more than the average for all in-place leases. The markets with the highest premiums for new leases were in the West, where Los Angeles, the Inland Empire and Orange County dominated. Meanwhile, Nashville had the largest spreads in the South and Boston took the lead among northeastern markets. 

The national vacancy rate stood at 3.8% in November, following a decrease of 20 basis points from the previous month. While many of the supply chain issues from the beginning of 2022 eased in the second half of the year, finding suitable industrial space in port markets remains one of the biggest challenges, as vacancy rates were still tight in the Inland Empire, Los Angeles, and New Jersey. Rapidly expanding non-port markets such as Nashville and Columbus, where demand is outstripping supply, are also seeing extremely low industrial vacancy rates.  

Supply: Top Markets Dominate New Supply Pipeline

A total of 742.3 million square feet of industrial stock was under construction at the end of November, representing 4.0% of existing inventory. Moreover, data showed an additional 684.5 million square feet in the planning stages. With the national vacancy rate for the top 30 markets having dipped below 4%, space in the hottest markets is already pre-leased before delivery or, in some cases, before construction even begins. 

Industrial Space Under Construction (Million Sq. Ft)

While many markets are experiencing an industrial construction boom, much of the new supply being developed is concentrated in a handful of locations: Phoenix, Dallas - Fort Worth, the Inland Empire, Chicago and Houston account for more than a quarter of all under-construction space. Half of all under-development supply is in only 18 markets. 

Transactions: Sale Cool as Interest Rates Rise

While increasing interest rates have led to a tightening investment market in the second half of the year, year-to-date, a total of $78.8 billion in industrial sales were recorded nationally through November.

Rising interest rates have also impacted sales prices, with the average for an industrial property slipping to $127 per square foot (down 5.4%) in the third quarter and resting at $116 per square foot through the first two months of the fourth quarter. Even so, average sale prices were still well above 2021 levels, with the average sale price this year marking a 17.8% increase year-over-year. 

Year-to-Date Sales (Millions)

The leading markets in terms of industrial sales volume were Dallas, Los Angeles and the Inland Empire. These were the only markets to each surpass the $4 billion threshold year-to-date, recording a combined transaction volume of nearly $14 billion. Southern California still leads in terms of price per square foot, with year-to-date sales prices approaching $370 per square foot in one of the region’s hottest markets. 

Year-to-Date Sale Price Per Square Foot

Western Markets: The Inland Empire and Los Angeles Record Double-Digit Rent Growth 

Southern California's industrial rent growth remains firmly in the lead, with rents rising 13.8% in the Inland Empire and 10.7% in Los Angeles. The two Western markets were the only ones to record double-digit rent growth among the top 30 industrial markets CommercialEdge surveyed. But sharp rent appreciation is not limited to Southern California, as other Western regions are also experiencing a rapid rate of increase. Specifically, in-place rents for Phoenix industrial space rose 7.3% over year-ago figures, while Portland and the Bay Area gained 6.4% and 6.3%, respectively.  

As a result, Western U.S. industrial markets remain the most expensive in the country — $12.79 per square foot in Orange County, $11.91 per square foot in the Bay Area, and $11.85 per square foot for industrial space in Los Angeles. And with most Southern California markets seeing new leases signed at rates well over $10 per square foot, November saw new leases averaging $19.32 per square foot in Los Angeles, $18.06 per square foot in Orange County, and $14.50 per square foot in the Bay Area. 

Southern California markets also have some of the lowest industrial vacancy rates in the U.S., with the Inland Empire at just 1.2% — the second-lowest vacancy rate among the top 30 U.S. industrial markets. Los Angeles and Orange County had vacancy rates of 2.2% and 3.0%, respectively. Vacancy levels are expected to remain low due to demand far outstripping supply and the lack of land for sizeable industrial projects in these markets. 

Los Angeles had a little over 5 million square feet of industrial space under construction at the end of November, equal to only 0.7% of its existing stock, while planned projects are projected to add just 2.5% to the market’s inventory, resulting in a supply pipeline much behind market needs. Similarly, Orange County had a new supply pipeline of just 1.3% of its existing inventory, and the Bay Area’s under-construction pipeline accounted for just 2.4% of its stock. While construction activity is far more elevated in the Inland Empire, where nearly 30.7 million square feet of industrial space under development account for 5.0% of stock, these figures still fall short of market demand. The continued high demand indicates a buoyant industrial market outlook for Southern California in 2023.

West Regional Highlights

Elsewhere in the Western U.S., Phoenix had the largest supply pipeline on a stock basis and the second largest in terms of square footage, as industrial players pushed out of Southern California continue to flock to the Arizona market. Specifically, Phoenix had more than 52.5 million square feet of new industrial space under construction as of late November — the equivalent of 17.5% of its existing inventory. Adding planned projects to the mix more than doubled that estimate and boosts the pipeline by 36.3%. 

Meanwhile, the industrial sector has somewhat cooled in terms of sales, with the third quarter marking the first decline in the average sale price of an industrial property in two years. As of this report, the fourth quarter has seen a similar decline. However, average sale prices remained well above where they were last year.  

The highest sale prices were recorded in Southern California, with Orange County industrial properties trading for $369 per square foot, Los Angeles at $300 per square foot, and the Inland Empire at $295 per square foot.  

L.A. and the Inland Empire were also in the lead in terms of sales volume, claiming the second and third spots: Los Angeles closed $4.54 billion in industrial sales, followed by the Inland Empire with a sales volume of $4.43 billion. Industrial deals closed in Phoenix amounted to $3.1 billion. 

Midwestern Markets: Chicago Leads with Sales Volume Nearing $4B

Unlike port markets where space is limited for new projects, Midwestern markets with more generous zoning or geographic permissions, as well as a significant logistics presence, are rapidly expanding their inventory and keeping industrial rent growth moderate in the process.  

Detroit claimed the sharpest rent growth in the Midwest, with rents increasing 6.2% year-over-year, which ranked the market second-priciest for in-place industrial leases in the region at $6.13 per square foot, outpacing the Chicago rate of $5.59 per square foot. However, Chicago claimed the top spot in the Midwest for new leases with an average of $7.41 per square foot. Detroit ranked second for in-place contracts with an average rate of $6.62, followed by the Twin Cities at $6.30 per square foot. 

As for transactional activity, Chicago led the Midwest in industrial sales, with a total sales volume of $3.78 billion at the end of November. Three other markets also recorded strong sales year-to-date and surpassed the $1 billion mark: Indianapolis industrial sales totaled $1.19 billion; the Twin Cities saw sales amounting to $1.033 billion; industrial sales closed in Columbus followed close behind with a total of $1.031 billion. In addition, the Midwest competed with the South for the lowest prices per square foot, as only the Twin Cities exceeded $100 per square foot, while Chicago assets traded for an average of $87 per square foot. 

Midwest Regional Highlights

Development in Midwest markets is driven by some of the lowest vacancy rates in the country. Specifically, vacancy rates stood at 1.7% in Columbus and 2.5% in Indianapolis and Kansas City.  

Indianapolis had the second-largest construction pipeline in the region, with a total of 22.8 million square feet of industrial space underway, accounting for 6.8% of total stock in the market. Meanwhile, Columbus followed with 15.9 million square feet under construction, equal to 5.6% of local inventory. New supply in the Kansas City pipeline encompassed 11 million square feet, the equivalent of 4.2% of existing stock. When also considering planned projects, Indianapolis is looking at a 12.6% industrial market expansion, Columbus by 8.9% and Kansas City by 17.2%. 

Chicago had a vacancy rate of 4.1% at the end of November and the market led the Midwest in development activity. Chicago had more than 26 million square feet of industrial projects underway, accounting for 2.6% of its stock. Taking into account planned projects as well, the market is looking at expanding its industrial footprint by 6.3%. Among the Midwestern markets with more tempered development activity, the Twin Cities stood out for having a new supply pipeline of a little more than 6 million square feet, equal to 1.9% of its inventory. 

Southern Markets: Nashville Takes the Lead with Lowest Vacancy Rate in the U.S. 

The lowest vacancy rate among the top 30 U.S. markets we surveyed was recorded in Nashville — just 1.2% at the end of November. Atlanta, Miami, and Charlotte followed with 2.6%, 3% and 3.1%, respectively. In addition to Nashville, the latter three were the only other Southern markets to post vacancy rates below the national rate of 3.8%. On the other hand, Houston had one of the highest vacancy rates at 7.2%, both in the South and nationwide.      

In Southern markets with lower vacancies, industrial rent growth has been more robust and in line with the national average rate of 6.5%. Specifically, Atlanta led the South in terms of rate growth at 6.6%, closely followed by Nashville at 6.4% and Miami at 6.3%.

These gains also generated some of the widest lease spreads in the region, with Miami in the lead: While in-place rents averaged $9.72 per square foot here, new contracts signed over the past 12 months averaged $11.60. Nashville in-place rents stood at $5.52 per square foot, while new leases averaged $11.29 per square foot. New-lease rates in both Miami and Nashville exceeded Western markets such as Seattle and Portland, where new contracts were inked at a per-square-foot average of $10.30 and $10.18, respectively. 

The effect of higher vacancy rates in some industrial markets in the South was evident in more modest lease spreads. For example, Houston in-place rents stood at $6.15 per square foot, while new leases were signed at $6.17 per square foot. Similarly, Memphis had a 5.6% vacancy rate, a higher rate that can be correlated with the market’s lease premiums: In-place rents clocked in at $3.66 per square foot, while new leases were signed at $4.01 per square foot. Charlotte was the only outlier, with a relatively low vacancy rate (3.1%) and lower in-place rents ($6.26 per square foot) than in newly signed leases ($6.17 per square foot). 

South Regional Highlights

Dallas – Fort Worth remained home to the largest development pipeline in terms of square footage both in the South and across the country. At the end of November, the Dallas – Fort Worth market had a new supply pipeline of 62.6 million square feet, which is set to boost the market’s already massive industrial footprint by 7.3%, the highest rate among Southern markets. Moreover, planned projects that have yet to break ground are projected to increase the market’s inventory by 12.8%.  

Houston, despite having a vacancy rate above the national average, has the second-largest development pipeline in the South with more than 26 million square feet of industrial space under construction, equal to 4.7% of stock. Additionally, the market is set to increase its square footage by 7.6% if planned projects materialize. 

In fact, many markets in the region don't have to contend with space constraints that port markets are faced with, resulting in significant development pipelines outside the Dallas and Houston markets. As of late November, Charlotte had a total of 14.1 million square feet of industrial space underway, representing 4.8% of its total inventory. Atlanta wasn’t that far behind, with a new development pipeline totaling 12.4 million square feet, equal to 2.3% of its industrial stock. 

In terms of sales prices, Houston was the priciest in the region, with a rate of $133 per square foot year-to-date. Tampa followed in second place, with $125 per square foot. The rate for Atlanta industrial space averaged $108 per square foot and ranked third. At the other end of the spectrum, Memphis industrial deals averaged the lowest year-to-date sale price among leading industrial markets — $60 per square foot. 

As for sales volume, Dallas continued to lead the region — and the country. In fact, its $4.71 billion year-to-date sales volume was the largest among the top 30 markets, while Houston’s $3.85 billion sales volume placed the market fourth, according to the CommercialEdge U.S. industrial market report.

Northeastern Markets: Philadelphia Set to Increase Industrial Square Footage by 5.3% 

In line with other port markets, New Jersey's vacancy rate contracted further, coming in at 2% and falling between the Los Angeles rate of 2.2% and Orange County's 3 %.  

Given strong demand and high occupancy rates, industrial rents in New Jersey have increased consistently, rising 8.9% year-over-year — the third-fastest rent growth rate nationwide. With in-place rents averaging $9.22 per square foot and leases signed over the previous 12 months averaging $13.36 per square foot, New Jersey had one of the widest industrial lease spreads in the U.S.  

While several major markets in the South saw new leases inked at lower rates than existing contracts, rates for new leases were higher in the Northeast's most significant industrial markets. For instance, Boston in-place contracts stood at $8.87 per square foot, while new leases averaged $13.13 per square foot — the only other new-lease average in the Northeast to exceed the $10 threshold along with New Jersey. This pattern persisted even in Philadelphia, where both new and existing leases stood below the national average. 

Northeast Regional Highlights

New Jersey’s $2.95 billion transaction volume, the seventh highest in the country, placed it at the forefront of Northeast markets. However, the year-to-date sales price of $175 per square foot here could not compete with the West's more vertical pricing. At $179 per square foot, Boston was home to the highest year-to-date sale price in the Northeast. However, Boston's $1.74 billion in industrial sales was exceeded by the $2.6 billion worth of Philadelphia industrial sales, which averaged $122 per square foot. 

Philadelphia led the Northeast in terms of new supply — the Pennsylvania market stood out with a 21.5 million-square-foot supply pipeline that accounted for 5.3% of total local stock. Considering planned projects, Philadelphia is looking at a market expansion of 13.3%, the third-largest growth rate among the markets we surveyed for this industrial property market report. Meanwhile, New Jersey had the second-largest new supply pipeline in the Northeast (13.2 million square feet), followed by Boston (6.5 million square feet) and Baltimore (4.8 million square feet). 

Economic Indicators: E-Commerce Share of Retail Sales on the Rise Again  

E-commerce sales continued to expand in the third quarter, according to the U.S. Census Bureau. There were $265.9 billion in e-commerce sales, which represented an increase of 3% quarter-over-quarter and 10.8% year-over-year.  

During the last four quarters, e-commerce sales amounted to more than $1 trillion. In the third quarter of 2022, e-commerce accounted for 18% of core retail sales (which excludes motor vehicles, their parts and gasoline) — a number that is roughly on par with the pre-COVID-19 trendline. 

Economic Indicators

In 2020, many believed that the pandemic had permanently shifted the e-commerce share of retail sales ahead by two to three years. However, that share began to fall as vaccines became available and businesses could gradually open again. After peaking at 20% in Q2 2020 (up from 14.2% in Q1), the share fell in five of six ensuing quarters, bottoming out at 17.6% in Q4 2021. Since then, e-commerce’s portion of core retail sales has slowly been on the rise again. 

Quarterly E-Commerce Sales

Trends & Industry News: E-Commerce Continues to Propel the Industrial Sector

The 2020 e-commerce boom transformed the industrial market. As businesses have spent the last two years attempting to adapt to skyrocketing internet sales, its effects are still being felt today. The third quarter of this year saw an increase in e-commerce sales of 66.4% when compared to the first quarter of 2020, according to the U.S. Census Bureau. 

While recent quarters have seen a return to normal in e-commerce sales growth, supply networks have yet to fully recover from the shock of the pandemic. One of the main causes of inflation was backlogs and bottlenecks in the supply chain, and even as these pressures are subsiding, finding industrial space in key locations will remain challenging, industrial property outlooks show.

Amazon, anticipating that the e-commerce boom would continue, swiftly expanded in 2021 but scaled back this year after acknowledging it had been expanding too aggressively. The e-commerce giant has spent the second half of 2022 pausing projects, slowing hiring and subleasing space. Amazon also has big box retailers like Target and Walmart to contend with now. These companies were forced to play catch-up to Amazon when the pandemic hit and have since been attempting to leverage their physical footprints to do so. Both retailers have expanded delivery and in-person pick-up options and have begun using their stores as last-mile delivery centers. 

Data around the holiday shopping season has been mixed — Adobe Analytics reported record levels of online sales for Black Friday and Cyber Monday, but retail sales were down 0.6% in the month of November according to the U.S. Census Bureau. 

National New Supply Forecast (Square Feet)

CommercialEdge's industrial market outlook projects that, while it may not reach levels seen in 2020 again, e-commerce growth will continue to drive high levels of demand in the industrial sector for the foreseeable future. New supply has yet to meet demand, and even a potential recession is unlikely to cause e-commerce sales volume to fall. 

Download the complete December 2022 report for a full picture of how U.S. industrial markets fared in the first 11 months of the year, including insights on industry and economic recovery fundamentals.

You can also see our previous industrial reports.

Methodology

The monthly CommercialEdge national industrial real estate report considers data recorded throughout the course of 12 months and tracks top U.S. industrial markets with a focus on average rents; vacancies (including subleases but excluding owner-occupied properties); deals closed; pipeline yield; forecasts; and the economic indicators most relevant to the performance of the industrial sector. For a detailed methodology, download the full report using the link provided above.

The post Despite Record New Supply, National Industrial Vacancy Dips Below 4%  appeared first on CommercialEdge.

Hartz Mountain Industries, a leading real estate investment firm headquartered in Secaucus, N.J., has been an active developer and dealmaker in the tri-state area since 1966. Focused on industrial and multifamily assets, the company’s portfolio spans major East Coast markets, including New York, New Jersey, Pennsylvania, Maryland and Florida, as well as metro Atlanta and Charlotte. With a sharp focus on consistent growth, Hartz captures opportunities thanks to its well-established architectural, construction, design, engineering, legal, marketing, leasing, property management and financial teams. 

The Challenge: Tracking Deals in Disconnected Data Sources  

A Yardi client since 1997, Hartz’s portfolio has undergone multiple transformations. Before working with automated asset management solutions, Hartz tracked deals on paper spreadsheets that staff would annotate and bring to the company’s weekly meetings. Following those meetings, the admin team would make updates manually.   

Several years ago, before implementing CommercialEdge Deal Manager, Hartz adopted a third-party deal management solution to help streamline the deal tracking process. Over time, they encountered difficulties with their former system due to data issues. Their weekly meetings lacked up-to-date information, and their processes required multiple points of data entry and resources to ensure their data was accurate — they needed a single source of truth.   

The Solution: A Centralized Data Source 

Deal Manager, part of the CommercialEdge solution suite, is an advanced CRM and deal-making software that simplifies transaction management with complete visibility of deal metrics throughout the lease lifecycle. The connected solution centralizes communication, prospect information, proposal terms and NER and other economic calculations at the deal level. In addition, a fully featured mobile application enables users to manage deals and approvals from anywhere.  

The Yardi property management integration goes even further to give clients a single source of truth with real-time tenant and lease-level data, including expirations, rent schedules, expenses, options and clauses. 

The Story: Real-time Data, Streamlined Deal Tracking and Complete Pipeline Visibility 

“If you want to track deals efficiently and ensure your executives and other teams know what’s going on in real-time from a single source of data, Deal Manager is a necessary product — including its fantastic mobile app.”

Lawrence Garb, Executive Vice President, Hartz Mountain  

Real-time synchronization

“One of my main goals for Hartz was to use one database that provides a single source of data, so we could eliminate interfaces along with waiting for updates and manual processing,” Lawrence Garb, Hartz’s executive vice president, noted. Garb went on to explain one aspect that he appreciates in particular: when updating a lease in Deal Manager, it is also instantly updated in Yardi Voyager and vice versa.  

Data visibility

Another significant benefit of using Deal Manager, according to Garb, is getting daily, weekly and monthly digests with deal activity, upcoming lease expirations and other pertinent information to executives and dealmakers. “I can see if deals were executed, and I don’t need to pick up the phone and make calls. Going from a spreadsheet updated weekly to something updated in real-time is a huge advantage.” 

With its leasing team being less comfortable with technology than other teams, Hartz welcomed an intuitive system like Deal Manager. The ease of use is a big win and has ensured company-wide adoption.   

A powerful and flexible mobile app

The mobile app of Hartz’s previous solution lacked functionality, and the vendor stopped developing it. Garb said that having a mobile app is vital for the company, and every team values being able to look at leases and other documents on the go. The Deal Manager mobile app also functions as an asset management app for the company.   

“We’re not only entering deals on the road and on the fly, but we can also look up existing tenants using the app. In Yardi Voyager, we have all lease documents, including PDFs of leases and amendments. For every tenant, we can view information with the Deal Manager app. So, for all kinds of asset management tasks, including tracking, we’re using the app,” he said.   

Garb provided an example of how the Deal Manager app streamlines his deal-making: he can meet with a tenant at their parking lot to discuss lease terms or confirm an expiration date, with the ability to review documents and sign a lease on the spot. With quick access to complete documentation and attachments for properties and invoices in one place, Hartz gains all the benefits of seamless integration, collaboration and speed of deal execution.  

The post Hartz Mountain Streamlines Dealmaking with a Single Source of Data appeared first on CommercialEdge.

Property data comes from a single, consistent source — a centralized database of property and listing information that supports all the marketing and dealmaking needs of CRE professionals. This single source of truth automatically updates all marketing materials, as well as syndicated listings across marketing channels, property sites and company websites. By leveraging a single database to drive listings and marketing automation, listing information is always up-to-date and your company’s branding is consistent across all channels. 

Powered by a user-friendly email builder, the marketing tool allows CRE professionals to design and send custom and branded email campaigns. For branding consistency across marketing and leasing teams, email campaigns can be saved as templates for company-wide use. And if any changes occur on a property down the line, any saved templates are automatically updated with the newest information. 

Emails are fully customizable using the intuitive drag-and-drop editor, which enables users to easily insert essential listing elements. This way, email content can be populated with details such as property name, floorplans, lease rates, space availability, broker contact information, high-resolution photos and more. What’s more, users can also include attachments as well as links to property brochures and availability reports. 

The preview tool provides a real-time view of the email design, which is optimized for different types of devices, from mobile to web browsers, ensuring that email campaigns are adapted to and are visually appealing on every platform.  

Once the email campaign is ready to be sent or scheduled, users can send it to a lead or a list of contacts from Deal Manager CRM. In addition, as a campaign performance assessment tool, the easy-to-use interface provides a range of valuable metrics, including open rates, unique opens, click rates, unique clicks and more. 

CommercialEdge Marketing comes standalone or fully synchronized with Yardi property management software. For Yardi clients, property and space information is in sync with Yardi Voyager to ensure that only the latest and most accurate information is marketed to prospects and clients.  

Powered by up-to-date property information, the CommercialEdge email marketing tool empowers CRE professionals to bolster their marketing and dealmaking processes and provide prospects and clients with a brand-consistent experience. 

The post CommercialEdge Enhances Solution Suite With Powerful Email Marketing Tool appeared first on CommercialEdge.

Partners is one of the largest and fastest-growing independent commercial real estate firms in Texas. Based in Houston, the company provides full-service solutions for office, industrial, retail, land, life sciences and multifamily product types. Partners offers brokerage, investor and project services as well as valuation advisory.  

Partners Capital Group is the firm’s private equity arm, which includes an investment management platform specializing in the acquisition and disposition of office, industrial and retail multi-tenant properties. The investment management team runs numerous fund vehicles that buy and sell property with the goal of generating competitive returns for investors.  

The Challenge: Managing a Fluid Portfolio with Disparate Systems 

With a small team and frequent acquisitions and dispositions, using disconnected systems to manage brokers and leasing transactions created challenges. In addition, the lack of a dynamic feedback loop between property management and deal management led to inefficiencies, including manually hunting down tenant information.  

The Solution: Deal Management Built Into a Connected Platform  

Deal Manager, part of the CommercialEdge suite of revenue-focused solutions, is an intuitive CRM and deal-making tool that simplifies revenue management with complete visibility of deal metrics throughout the lease lifecycle. With the Yardi property management software integration, clients gain real-time tenant and lease data, including schedules, expenses and clauses.  

This seamless sync provides access to current unit availability, floor plans and interactive stacking plans, ensuring a complete portfolio overview and a 360-degree view of the company’s client base. Additionally, centralized communication streamlines workflows by enabling users to enter deal terms, track proposals and calculate and store net effective rent at the deal level. At the same time, automatic budget comparison and lease spread metrics ensure stronger decision-making. 

“The Yardi platform including Deal Manager has significantly elevated our capabilities across the board. We’ve become more sophisticated, timely and accurate — which makes Partners not just a better landlord, but an even better fiduciary for our investors.”

Kelli Walter, Partner, Asset Management, Partners

The Story: A One-Stop Shop for Asset and Transaction Management  

The industry has embraced a single connected platform for portfolio management as a best practice, and Partners has taken the same approach. When Partners adopted Yardi Voyager as their property management and accounting solution, they also implemented Deal Manager to gain all the benefits of a one-stop shop, according to Kelli Walter, partner of asset management for Partners.  

“Our portfolio is very fluid. We buy and sell properties frequently, with the asset class and tenant mix constantly evolving. Our lean asset management team facilitates all leasing transactions, along with managing brokers, and needed a tool to keep us organized and help us underwrite tenant credit quickly and accurately. Deal Manager solves all these issues for us,” Walter said. 

Centralized Data and Key Metrics

Deal Manager’s holistic tie-back to Voyager was the most significant selling point for Partners, according to Walter. With Deal Manager synched seamlessly with the Voyager platform, Partners gains numerous operational efficiencies, including a document repository, deal stage history and valuable metrics. Tenant information is always up to date, which means deal metrics are also up to date.  

Document transfer from Deal Manager to Voyager is a massive benefit for Partners. The feature “allows us to efficiently aggregate information from essentially pre-leasing to translating to tenant files in one fell swoop, which saves leasing and property management time,” Walter explained.   

The firm utilized another deal management tool for years, but once they moved their business operations to the single Yardi platform, they found that Deal Manager was superior to the tool they previously used, particularly as part of the “Yardi ecosystem,” as Walter described it.   

Greater Efficiency and Simplified Lease Renewals

Walter noted that Deal Manager is very valuable to Partners’ leasing process. Deal Manager has benefited Partners’ brokers, property managers and executive team alike — and they all love using it. When asked about the most considerable operational improvements Partners has gained using the deal management solution, Walter replied, “Efficiency including easier lease renewals! We don’t have to hunt for tenant information anymore.”   

Walter also mentioned other process improvements and time-saving efficiencies, including “more consistent, robust document storage [and] more timely entry of deals from pre-leasing onto the rent roll. Analytics on our rent rolls have also been a huge benefit. Reporting in Deal Manager is better than our former system provided. We’ve also experienced time savings thanks to centralized data and automation, including having reliable information and not needing to do ‘clean-up work’ after the fact.” 

Advice to Peers Seeking Better Deal Management

Walter had some advice for firms considering adopting a tech solution to optimize deal management. “The world is only getting faster. If you’re not using Deal Manager or a tool like it, you’ll continue to fall behind. Deal Manager gets people out of email, organizes deals and data exceptionally well and simplifies the credit underwriting process for leasing — which makes it faster to get deals done. It also provides extremely valuable transparency into the deal curation process that can be used to analyze the effectiveness of your leasing and asset management teams.” 

The post Partners Centralizes Data and Simplifies the Deal Lifecycle on Deal Manager  appeared first on CommercialEdge.

Sentry Commercial, a real estate services company focused on data-driven solutions, has provided commercial brokerage, advisory, as well as property and construction management services since 1991. The firm generated value for three decades by relying on team collaboration, well-established strategies and technology. With a sharp focus on innovation and efficiency, Sentry Commercial implemented CommercialEdge Commissions, a complete back-office and commission management solution.  

The Challenge: Fragmented Data Sources  

Using multiple spreadsheets to track deals and commissions meant Sentry Commercial was working with a significant amount of disparate data, as their CRM and data were detached from the accounting division of the business. In addition, this process involved significant manual effort and the risk of duplicate data entry. It also didn’t provide a complete picture of the firm’s financial status.  

Sentry Commercial President & Co-Founder Mark Duclos faced challenges when trying to get an at-a-glance view of the firm’s revenue per month, as well as the status and age of receivables, along with agent projections and their year-to-date gross, among other key performance metrics.  

Melissa Fernance, in charge of operations at Sentry Commercial’s Hartford office, experienced the disconnect first-hand. Her role entails providing support and assistance for the firm’s brokerage, advisory and construction management teams. Whenever Duclos asked for a comprehensive report or team members inquired about deal and commission specifics, Fernance was required to go through a time-intensive and error-prone process, checking a host of sources to generate necessary data points.  

The Solution: One Connected Commissions and Back-Office Hub   

Sentry Commercial was searching for a solution compatible with their CRM, enabling a streamlined process from the deal pipeline to the firm’s operations and financial management workflows. Consequently, the company implemented Commissions, and according to Fernance, the intuitive software makes “a world of difference.”  

“I can’t say that enough, that it’s all right there. It’s a huge deal. Even the home screen (dashboard, Ed.) is perfect; it’s exactly what Mark (Duclos, Ed.) wants. We didn’t have anything like this; we used spreadsheets that I put together over the years.”

Melissa Fernance, Office Manager, Corporate Services, Sentry Commercial  

The Story: Increased Brokerage Productivity and Profitability  

Since using Commissions, the Sentry Commercial team has taken a more profitable and productive approach to managing their brokerage. Centralized data and automated workflows enable team members to access data in one place and pull reports directly. With all transactions digitally organized in a connected hub, invoices can be automatically generated and sent out using customizable templates.  

Duclos can now better assess his company’s operations, including which receivables require attention, which revenue streams are most reliable, and which employees are the most effective. In addition, the real-time business analytics and the comprehensive global dashboard available in Commissions allow for stronger decision-making and more accurate forecasting and budgeting.  

When asked what the number one result was since implementing Commissions, Fernance highlighted “the time saved by having this.” Now, Fernance can effortlessly enter a deposit by accessing a single system and see the Commission Credits automatically posted without any calculations or manual work on her part. What’s more, she can generate reports with different focuses and angles to meet the needs of every specialist at Sentry.  

“I love the reports — everybody’s report is different based on what they need. So, Mark (Duclos, Ed.) is going to want a Future Revenue Receivables report. And it’s a click of a button; it’s all right there. I don’t have to do any extra work. Maybe one of the agents will ask, ‘where am I in my splits?’ and with just a click, it’s all right here at my fingertips.”

Melissa Fernance, Office Manager, Corporate Services, Sentry Commercial 

The post Sentry Commercial Refines Commission Management and Boosts Revenue appeared first on CommercialEdge.

Drawing on the responses of more than 1,200 office space decision-makers and influencers, the report reveals a shifting marketplace as corporate office tenants reevaluate their perceptions of office usage. Along with stabilizing attitudes, another key finding addresses the growing importance placed on in-person office setups — however, these are expected to look notably different compared to pre-pandemic times.  

This third U.S. tenant sentiment study from BOMA International, Yardi and Brightline Strategies aims to provide a comprehensive overview of the pandemic’s wider impact on CRE, tenants’ shifting attitudes regarding the physical work environment and to discover opportunities for commercial operators who are committed to redefining the future of the office.

The Importance of Physical Office Space  

Tenants are placing a higher value on physical office space despite the long-lasting impact of COVID-19 on the sector. A notable 86% of tenants nationwide responded that office space is or will be essential for running a successful business, marking an 8% increase from 2021 figures. The importance of office space was highest among Class A tenants (90%) and those occupying more than 5,000 square feet.  

A recurring theme is having a “home base” community for connection, which includes space for larger group gatherings, as 78% of respondents believe that having a location for client and customer interactions is fairly to very important.  

Lease renewal intensity has returned to pre-pandemic levels in the summer of 2022. While 72% of respondents intend to renew their leases, 54% prefer a shorter lease term of 3 to 5 years rather than the 7-to-10-year pre-pandemic standard.  

Occupancy Shifts and Return-to-Office Trends  

Regarding “go forward” planning and a focus on safety, 76% of respondents said that their coworkers and employees generally favor returning to their physical office spaces. And 78% of coworkers and employees speaking for themselves stated that they are comfortable with going back to the office. This finding indicates a stabilization in health concerns and better alignment on COVID-19 safety attitudes than in earlier surveys.  

On the other hand, 60% said that reacquainting employees with the in-person office setting might be challenging, which slightly tempers the return-to-the-office enthusiasm.  

Remote and Hybrid Work Model Preferences  

While support for the value of in-person office space has grown compared to previous years, positive sentiment toward telework has also increased year-over-year, reaching 55%. Tenants who pay the highest rent per square foot remain the most supportive, while smaller tenants tend to be less supportive of the work model.  

Managers and their employees tend to agree on the ideal hybrid work schedule, with 61% of managers supporting at least three to four days per week in the office, in line with 60% of general office employees. Regarding the idea of 100% remote work, only 16% of employees said they would support it, while another 10% would prefer working closer to home in a company-provided workspace. Of the organizations that responded, 29% said they will move toward mostly or full-time telework in 12 to 19 months, marking a slight uptick from 26% in 2021.  

Family obligations, commute times and costs, and the overall health benefits of remote work are the main reasons employees prefer it. Workers not liking their office buildings or suites, the locations their workplaces are situated in, and inadequate amenities were among the lowest-ranked factors, indicating that convenience is more important here than the quality of the office environment.  

On a regional level, support for remote work has increased considerably in California and the Northeast, while the Southwest has seen the most significant decline.  

Reevaluated Square Footage Needs  

Most of those surveyed (70%) said they will reevaluate their office space needs, while another 14% are still determining their reassessment plans. California, Texas and the Northeast were among the regions where the likelihood of reevaluating space increased significantly, joined by tenants paying the highest rents per square foot and those with the largest footprints.

Respondents revealed that reassessment plans will be based on factors such as pandemic impacts, rising telework trends and decreasing revenues. While more than half (51%) are leaning toward reducing their footprint, 36% are thinking of expanding or maintaining their current office square footage.   

Of those with space reduction intentions, 67% chose increasing remote work/telework as a significant factor. In contrast, the high cost of office space and the overall elevated cost of doing business was a concern for 71% of respondents.   

Amenity-Oriented Tenant Expectations    

In terms of amenities that would incentivize remote and hybrid employees to return to the office, 78% would prefer an approach “beyond the status quo of typical amenities.” Hence, adapting offices for remote and hybrid workers was a top priority for tenants. Professional development events, commuting incentives such as stipends and parking reimbursements, and more social events were among the most popular changes planned. 

And when it comes to the value of office space, 73% of respondents emphasize the importance of social connection. In addition, the majority (75%) stated that having a physical workspace that encourages innovation and new ideas while also providing the necessary space and technology for collaboration is fairly to very important.  

Conclusions  

The 2022 BOMA International COVID-19 Commercial Real Estate Impact Study found that both employers and employees value the physical office environment. In addition, the research has brought new clarity to pandemic-related responses and lease renewal intentions, tenant sentiments regarding COVID-19, its effects on businesses, and their viewpoint on in-person office workspace and office space decisions going forward. The findings pave the way for the reinvention of the office workplace, providing owners and operators with opportunities to transform the office environment in accordance with current tenant preferences and expectations.   

The post BOMA Study: Office Tenants, Owners and Managers Pivot Toward Reimagined Work Environment  appeared first on CommercialEdge.

Despite the constantly changing digital world, there are several strategies that property owners and listing brokers can use to maintain their competitive edge and successfully market their CRE listings. To assist brokers in more effectively interacting with clients, we have broken down our top digital CRE marketing tips below.  

1. Create a Dynamic Website  

Create and manage a website that will be the hub for all your digital marketing activity. Whether you’re a solo commercial broker or part of an organization, a website is vital for ensuring your presence in the digital landscape and it is like an online visiting card.  

Make sure your commercial offerings are easily accessible and directly linked to your brand. Consider using CRE software that allows for dynamic space and property marketing. Such tools ensure that all your listing content is up to date, both on your site as well as across all your commercial real estate marketing collateral like brochures, client emails, digital tour books and other client-facing assets. 

In addition, a well-organized website must clearly and aesthetically display recent sales, contact information, your profile, a mission statement, client testimonials and market research. And of course, make sure it’s mobile-friendly, too!  

2. Emphasize SEO  

Your SEO strategy should be closely connected with your website and blog. Keep in mind that search engine optimization is a long-term effort, but the results are worth the wait. With a carefully planned strategy, you can reach clients that use search engines to find businesses like yours. Users tend only to go as far as the first page, which is why an optimized lead-generation technique is vital for exposure.   

3. Create an Advertising Strategy  

Social media platforms, CRE marketplaces and search engine ads (more on that below) are excellent for connecting with a precisely defined target audience. Increasing brand recognition through well-managed social media marketing and highlighting featured listings on well-established listing sites paves the way for high-quality lead development. These personalized campaigns allow you to precisely choose which members of your target market will see your ads, as well as when and where they appear. 

4. Establish a Paid Search Engine Marketing Plan  

An efficient strategy for increasing listing exposure on well-established search engines like Google is paid advertising. This approach promotes select listings in a paid ad space on a search engine’s search results page for a set time period in order to increase traffic. Since this strategy is more cost-intensive, factor it into your company’s marketing budget. At the same time, ongoing commitment is vital for this method to yield long-lasting results. It’s also critical to thoroughly monitor your ROI to decide whether paid advertising is a viable choice for your business needs.  

5. High-Quality Images Are a Must   

First impressions are made in just a few seconds in a fast-paced digital world. Therefore, high-quality, captivating photos are essential for potential clients to stop scrolling and have a look at your content. Once they do, they are much more likely to visit your website. Also, remember the importance of having an up-to-date headshot to feature on all your social media channels.   

6. Virtual Tours Are Here to Stay   

Appealing virtual tours are a must for successfully marketing your commercial property nowadays. First, familiarize yourself with the technology and design specifics that ensure an immersive client experience. There are many options available for producing virtual tours. While costs vary depending on your selection, you could potentially buy a 360-degree camera to record tours yourself. 

7. Make Social Media a Priority 

Include social sharing buttons in your emails, content and website to make it easy for potential and existing customers to share your content, information and insights. Before you do, ensure your profiles on Twitter, Facebook, LinkedIn, Instagram, etc., are up to date and in line with one another.  

Social media is a great networking tool, perfect for meeting new people and sparking insightful discussions, so consider joining professional social media groups like the ones found on LinkedIn. This can increase listing visibility through exposure to specific groups of people, where you can connect with leads more likely to move down the funnel. 

8. Ask for Client Testimonials 

A satisfied client review will greatly help when promoting your services. In the digital era, leasing professionals can do that with the help of online reviews. So, as soon as a deal is completed, requesting a review should be among your top priorities.  

To make it simple for your client to recommend your services, provide a dedicated link that leads directly to the review entry form. Your company’s legitimacy and credibility only stand to gain from a list of positive testimonials. Additionally, reviews can also improve the SEO ranking of your website.   

9. Start Blogging  

Share your point of view on the CRE industry through insightful blog posts. Maintain an upbeat, professional and consistent approach. To increase website traffic, respond to customers’ frequently asked questions, discuss current market trends and integrate SEO keywords.  

Your readers are more likely to see you as an authority on the subject and give you their business if you provide market insight and are seen as an authority within the industry. Additionally, you can distribute blog entries through email marketing campaigns and your social media accounts to further expand your reach. 

10. Invest in Becoming a Thought Leader 

Consider writing for an industry journal or contributing to a local publication. This can entail writing a monthly piece or sponsoring industry events. Having your name published in a well-known publication can considerably elevate your reputation. Contributing to CRE publications along with local and national trade association news feeds allows you to simultaneously reach potential clients and build your industry reputation. Additionally, this approach can also direct more SEO-boosted traffic to your website. 

As digital solutions continue to elevate the CRE industry, leasing professionals focused on successful dealmaking will embrace the latest innovations in real estate technology. And, as digital marketing evolves, organizations and agents who embrace technology will boost their commercial real estate marketing strategies and remain ahead of the curve. 

The post Top 10 Digital Commercial Real Estate Marketing Tips for Brokers appeared first on CommercialEdge.

Propidex, Planimetron’s market-leading space management platform, will be rebranded as Space Manager and integrated into the CommercialEdge solution suite. Space Manager is projected to launch to market in 2023.  

The functionalities of Space Manager will enable CRE owners and managers to use a single, centralized location to store, edit and share floor and site plans. Additionally, Space Manager will provide unparalleled visibility for marketing and leasing processes, as well as forecasting, facilities and construction operations, when combined with the CommercialEdge and Yardi Elevate asset management solution stacks. 

“We are excited to welcome the Planimetron team to Yardi. This team brings a wealth of knowledge and experience about commercial real estate, especially with regard to space management within properties. Space Manager will be an exceptional addition to the CommercialEdge suite.” 

Arjun Rao, Senior Director of Commercial for Yardi

Planimetron provides innovative software solutions that integrate and quantify space, occupancy and performance data over time to provide commercial and corporate decision-makers with a complete overview of their portfolio. Using color-coded floor plans, charts, reports and other decision-support tools, these visually rich information systems enable companies to identify opportunities and expose risks across their entire portfolio. 

The company has been developing visual decision support solutions for commercial and corporate real estate professionals since 1983. These continually evolving solutions have ensured a rich graphic user experience by seamlessly combining real estate and spatial data. 

The post Yardi Bolsters CommercialEdge Solution Suite With Planimetron Acquisition  appeared first on CommercialEdge.