Headquartered in Bethesda, Maryland, Global Medical REIT is a net-lease medical office real estate investment trust. With a portfolio exceeding 4.9 million square feet across the U.S. as reported as of Sept. 30, 2022, the REIT acquires and leases purpose-built healthcare facilities to leading healthcare systems and physician groups.  

The company’s disciplined investment strategy focuses on uncovering high retention and patient-centric acquisition opportunities in premier secondary markets bolstered by favorable demographic and decentralization trends. Through this approach, Global Medical REIT consistently provides strong returns for its shareholders and ensures lasting relationships with its tenants. 

The Challenge: Limited Portfolio Reporting and Multiple Systems 

With 189 medical properties across the U.S., Global Medical REIT strives for total transparency and requires access to portfolio-wide reporting for easy data access across teams that streamlines leasing activities and deal flow processes.  

Before implementing CommercialEdge Deal Manager, the firm encountered difficulties with its previous solution due to high costs and the lack of access to portfolio-wide reporting, leading to inefficiencies in their deal management processes. Additionally, the tool lacked the possibility of business-wide process integration, which resulted in discrepancies in the leasing data.   

The Solution: Access to On-Demand Data and Detailed Reporting 

Deal Manager, part of the CommercialEdge solution suite, is a leading CRM and deal-making software offering full transparency and visibility into deal metrics throughout the lease lifecycle. Key metrics can be viewed on demand for proposal evaluations and more, while detailed reporting provides actionable insights and helps with performance analysis by property, market, agent and other attributes. 

By integrating Deal Manager with Yardi property management software, clients gain real-time tenant- and lease-level data such as schedules, expenses and clauses, as well as access to current unit availability, floor plans and interactive stacking plans. This integration streamlines communication and enables clients to enter deal terms, track proposals and calculate and store net effective rent at the deal level.  

“Deal Manager has helped us streamline our leasing activity and deal flow. The system has facilitated better communication and coordination between brokers and internal decisions makers, and the integration with Voyager has automated processes, which has increased productivity.”

Daniel Magney, Asset Manager, Global Medical REIT

The Story: One Connected Solution with Portfolio-Wide Reporting and Insights 

As a Yardi client since 2018, Global Medical REIT was already an active user of Yardi Voyager and, by adding Deal Manager, the company found the answer to its portfolio-wide reporting challenges. Moreover, this one connected solution helped the firm streamline its leasing activity and deal flow. 

“Deal Manager provides an excellent tracking system for busy asset managers and brokers and greatly assists with the progression of the deal as well as the analysis needed to make good leasing decisions. Since we are already Yardi users, it is an efficient way to assist in our budget forecast program. This program is also very intuitive for our users and requires little handholding with third-party users.”

 Dawna Powell, VP, Asset Management, Global Medical REIT

Easy and fast access to accurate leasing data 

Thanks to Deal Manager, the Global Medical REIT accounting team is more self-sufficient and can access leasing activity without asking the asset management team for information. 

Global Medical REIT captures every property’s activity across its portfolio and can provide reports to investors with greater speed and accuracy. At the same time, working with external brokers is also easier due to the tool’s intuitive interface, which requires little training and ensures effective collaboration for all parties involved.  

Seamless implementation 

Since smoothly transitioning from its previous system to Deal Manager, Global Medical REIT can generate portfolio-wide reports and has a complete pipeline overview, all in one place. The company was able to transfer all its deals and go live with Deal Manager in just a matter of weeks. 

“Deal Manager provides our organization with a cost-effective tool that enables us to manage our leasing pipeline all in an easy-to-use interface. The Yardi team made the implementation quick and easy; we were able to go live in a few weeks.”

Sean Tu, SVP of Asset Management, Global Medical REIT

The post Global Medical REIT Streamlines Deal Flow and Portfolio-Wide Reporting with Deal Manager  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.

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.

California-headquartered PS Business Parks (PSB) is an industrial-focused real estate investment trust that creates value by providing real estate solutions from coast to coast. The REIT not only owns, operates and acquires but also develops commercial properties, with a sharp focus on multi-tenant industrial, industrial-flex and low-rise suburban office assets. 

Over the years, PSB has refined the regions in which it operates, focusing on submarkets with high barriers to entry in premier industrial U.S. markets. As pent-up demand for quality industrial space continues to drive growth, the company is enhancing its solid closing track record — rooted in efficient decision-making — with the help of intuitive solutions from the CommercialEdge solution suite. 

The Challenge: Enhance a Strategy Centered on Smaller Tenants and Shorter Lease Terms 

As of late 2021, PSB’s growing portfolio incorporated nearly 28 million square feet across six states, consisting of 19.3 million square feet of industrial space, 5.5 million square feet of industrial-flex space and 2.9 million square feet of low-rise suburban office space.  

Located primarily in major coastal markets, the company’s 97 business parks serve a diverse tenant base spanning approximately 5,000 tenants. As part of its competitive edge, PSB focuses on smaller tenants with shorter lease terms.  

This way, the REIT aims to accommodate a larger number of smaller users across industries, ensuring the portfolio’s diversity and improving the company’s cash flow stability. At the same time, shorter lease terms allow PSB to promptly capture rent increases in high-growth markets, a strategy that entails complete portfolio oversight. 

The Solution: Centralize Communication for Complete Lease Lifecycle Oversight  

PSB’s portfolio comprises a variety of available space sizes and configurations, typically clustered in large complexes with multiple buildings. Given its focus on providing a wide array of functional spaces to small- and medium-sized companies, the REIT is intent on streamlining its operations. 

By successfully implementing the CommercialEdge solution stack, PSB has boosted its marketing and deal management workflows with robust automation, unmatched visibility and extensive insights. 

“The connected solutions offered by CommercialEdge have bolstered our operations by automating marketing and improving the deal execution workflow. Real-time availability is driven from our property management platform, ensuring listing accuracy and optimizing lead generation. As leads are captured, Deal Manager ensures we hit our revenue targets while streamlining the leasing process.”

Melanie Arias, IT/Business Applications, PS Business Parks 

The Story: Leverage an All-in-One Solution to Streamline and Sync Operations 

CommercialEdge products allow PSB to maximize the return on investment on lease transactions. Solutions such as CommercialEdge Marketing and Deal Manager empower the company to maintain leasing momentum amid the shifting commercial real estate landscape. 

PSB’s core strategy centers on the concept of dividing large vacancies and providing customers with diverse space sizes and configurations. Additionally, the company is focused on growing its portfolio in coveted submarkets and it is consistently increasing its market share in such regions. This allows PSB to cater to rapidly growing companies looking to expand their space by offering a wide range of options in the same business park or in the same submarket, all within PSB’s widespread portfolio. 

• Complete visibility into real-time availability

Building on PSB’s local market operating expertise, CommercialEdge Marketing helps their teams keep listing information up to date on the company website, with easy access to all marketing collateral in one place. At the same time, thanks to the tool’s intuitive integration with Yardi Voyager, PSB’s teams gain unparalleled visibility into current and upcoming availabilities.  

This seamless integration translates into the automated publishing and removal of spaces based on availability in Voyager. What’s more, Marketing boosts listing exposure and elevates qualified leads by automatically distributing listings across the CommercialEdge Listing Network. The network generated over 450 leads to PS Business Parks in the last 12 months or about 40 per month. 

Listings already posted on the network can be effortlessly syndicated to company websites, such as PSB’s, as well as to the top marketplaces CoStar and LoopNet. Listings can then be managed with ease from one centralized platform. 

• A 360-degree portfolio view and tenant base close-up

The marketing module’s functionalities tie in smoothly with Deal Manager, also developed to sync with Voyager. The pipeline management solution enables PSB’s teams to centralize all communication for each deal, ensuring complete transparency and allowing everyone involved to stay on top of lease terms, including rent schedules, clauses, options and expenses, as well as a 360-degree view of PSB’s client base. 

With Deal Manager, leasing and asset managers gain access to tenant-related information and space visibility, with centralized deal tracking, proposals and approval workflows in a single place. PSB’s teams use the incorporated activity feed extensively and run custom reports out of the centralized system. The user-friendly tool closely monitors detailed deal metrics, automatically comparing deals to approved budgets and populating forecasts.  

• Enhanced and fast-tracked legal processes

Deal Manager connects seamlessly with CommercialEdge Legal, further accelerating the leasing cycle by auto-generating standard lease agreements based on finalized proposals. Customizable approval workflows, dynamic redlining and revisions can be tracked easily through final signed documents.   

The legal module’s built-in e-signature functionality ensures a quick and simple signing process. This considerably reduces cycle times and enables PSB to proceed without delay. With the data flowing back into the underlying Voyager property management platform, the tool also eliminates rekeying and the risk of duplicate entries.   

Given PSB’s consistently expanding and diversifying portfolio and tenant base, the REIT is well-positioned for further growth. And with intense demand for quality space in a variety of configurations, intuitive solutions that streamline leasing operations allow operators such as PSB to consolidate their business plans and capture opportunities in a competitive real estate environment. 

The post PS Business Parks Meets Market Demand With Fine-Tuned Operations appeared first on CommercialEdge.

Spradley Properties, a full-service management company focused on real estate and property management, specializes in services spanning brokerage, property management and maintenance for commercial and residential properties in the Temple and Belton areas of Texas. Founded in 2005, the company has expanded consistently over the years, growing to a level that required more high-tech solutions. Targeting automation and efficiency, Spradley has implemented CommercialEdge Commissions, a complete commission and back-office solution.   

The Challenge: Reduce Time-Consuming Invoicing Processes

Spradley Properties’ monthly invoicing process was complex and time-intensive, with invoices created in Word documents that were then converted into PDFs and sent out via email or physical mail. Finally, invoices were added to an Excel spreadsheet to keep track of all receivables and the amounts brokers had been paid. However, staying on top of everything was challenging, as information was spread across multiple records. 

Kelly Yanez, commercial account manager & leasing agent at Spradley Properties, joined the company in 2011. She explained how the process of recording deals and creating invoices would take about five days twice each month. Moreover, data for reports had to be pulled manually from various spreadsheets, which further slowed the process as Kelly was required to double- and triple-check data in case of any inconsistencies. 

The Solution: Streamline Back-Office Operations

Following Spradley Properties’ split from DB Commercial, the company branched out into providing brokerage services separately. With a sharp emphasis on technological advancement, Spradley was seeking to improve its systems and implement a solution to modernize its back-office operations, and Commissions was the primary step in that direction. 

I would recommend Commissions because of the time you save. To be able to help with other stuff in the office is the biggest key for me. I do not have to do it the old-fashioned way (Excel sheets) … Now, I can do what I need to in a couple of hours and then go work with the brokers on another deal!

Kelly Yanez, Commercial Account Manager / Leasing Agent, Spradley Properties

The Story: Leverage Automated Workflows for Operations

After implementing Commissions, invoice processing at Spradley was reduced from five days every month to just a few hours. The commission management tool now centralizes all deal data, documents, invoice dates and commission splits, making it easy to track everything from one place. Reports are automatically generated, with current and previous receivables reports streamlining day-to-day operations and saving the Spradley team at least a week during year-end closings.  

What’s more, Commissions is accessible remotely, allowing Spradley’s management team to be less dependent on Kelly’s presence in the office in order to generate managerial reports. Prior to using the CRE tool, Kelly was the single point of information, but after implementing Commissions, Bobby Spradley, broker & owner of Spradley Properties, can easily access reports pertaining to his activity. 

In addition to reducing commission management timelines, Commissions has also allowed Kelly to help with showings, leasing and sales. “I wear several hats, so going from five days when sending invoices to probably an hour the whole month has freed up my time to be able to assist management in many other ways,” she concluded.

The post Spradley Properties Leverages Automated Workflows to Boost Operations  appeared first on CommercialEdge.

The Retail Strategy (TRS) is a full-service commercial real estate (CRE) platform focused on providing innovative solutions to retail clients across the U.S. The company is 100% committed to working with tenants only at all ends of the retail spectrum, including tenant representation, retail expansion strategy, franchise real estate and mapping and analytics. Prioritizing constant innovation and efficiency, the company has implemented CommercialEdge Commissions, a complete commission and back-office solution. 

The Challenge: Find a Scalable CRE Solution to Expand Operations

Founded in 2010 in Austin, Texas, TRS began its journey with only a handful of clients in the first year. Today, it serves more than 100 brands. Expanding quickly from a local tenant representation real estate firm into a national, full-service CRE platform, the company had to find a more efficient way to manage team commissions. 

TRS’ in-place method worked for a smaller team, having managed commissions for one or two brokers with a complex Excel spreadsheet. However, when they added more brokers and tried to manage commissions using this tool, issues quickly appeared. Moreover, a different person than the one managing the spreadsheet oversaw invoices, which further delayed the process. 

The Solution: Implement Efficiency, Scalability and Accuracy

TRS was in search of an automated commission management solution that could keep up with the company’s fast-paced growth. Consequently, the company implemented Commissions and, according to Paul Brunner, COO at The Retail Strategy, the tool “improved our whole commission tracking and invoicing process… It’s just much more efficient and robust.” 

“For anyone who has had to deal with the daunting task of tracking and paying commissions, I think this is an excellent solution to that problem. It’s easy to use, it’s accurate, it’s user-friendly and I would highly recommend it to anyone that has to deal with commission management.”

Paul Brunner, COO, The Retail Strategy

The Story: Optimize Commission Management Timelines and Increase Savings 

Since using Commissions as their commission management tool, TRS has recorded savings of at least $500 per month in the invoicing process alone, accruing additional savings in terms of running and reviewing reports.  

What’s more, running payroll is easier, and according to COO Paul Brunner, the company can rely on the accuracy of the data without spending a lot of time troubleshooting and second-guessing the numbers. TRS is now “using Commissions 100%, and all [of our] brokers are on board and [we] really have had positive feedback about the system. They are enjoying it and see the value in it… we haven’t looked back since implementing it,” he explained. 

Not only does Commissions bring efficiency and scalability to TRS’ brokerage operations, but it has also improved transparency. The system enables brokers to pull their own reports at their preferred pace and time, without having to put in requests for this information and then wait for someone to be available to compile and send out the reports. 

Automated back-office workflows streamlined the operations of TRS and facilitated the company’s expansion while increasing savings and efficiency. At the same time, thanks to the intuitive and impactful features of Commissions, TRS is well positioned for further growth amid rapidly evolving market conditions in today’s CRE landscape. 

The post The Retail Strategy Optimizes Commission Management Amid Rapid Business Growth appeared first on CommercialEdge.

One of the tightest industrial markets in the U.S., Southern California has been consistently topping rankings of occupancy levels and rental rates, according to multiple recent market reports. And it’s exactly in that highly competitive environment that Rexford Industrial generates value. The real estate investment trust (REIT), focused on high-barrier markets, invests in and operates industrial assets throughout Southern California’s infill areas.

Taking into account the wave of interest in Southern California industrial spaces, Rexford has translated that market surge into a strategic portfolio expansion and a fast-paced but sustainable tenant base increase. However, such a portfolio spread required precision- and strategy-oriented solutions to establish operation scalability.

The answer to the growth-oriented needs of Rexford is CommercialEdge suite for landlords. The purposefully curated solution stack for commercial landlords empowered the REIT to confidently meet expansion plans with innovative solutions, such as showcasing availabilities directly on the company website.

“The CommercialEdge offerings streamline our workflows, providing us with complete deal pipeline oversight throughout our region. The end-to-end solution helps us centralize marketing, syndicate availability, manage the deal pipeline and take qualified deals to lease execution.”

Matt Ehrlich, Senior Vice President, Rexford

The Challenge: Centralizing Operations to Streamline Deals in Surging Markets

Rexford closed 2021 with a portfolio of nearly 37 million square feet of industrial space spread across 300 properties. Working in what is arguably the most competitive industrial market in the country, Rexford has its eye on further growth — growth that can be easily scalable without proportional human resource increases.

The industrial REIT required a connected solution that ensured leasing teams could effortlessly manage listings while maintaining complete deal pipeline visibility — an integrated solution that also incorporates strong automation in order to free teams of repetitive and time-intensive workflows and allow them to focus on strategic operations.

Implementing the CommercialEdge solution stack for landlords, Rexford Industrial achieved all that and more, gaining a 360-degree view of assets, complete with essential insights, a high degree of transparency and tools that streamline portfolio health assessments. Additionally, the solution stack also simplifies daily operations with automated workflows that keep all necessary personnel informed, ensuring smooth dealmaking and fast-paced deal timelines.

The Solution: Powerful Automation and Integrated Solutions for Maximized Returns

The CommercialEdge for Landlords solution stack empowered Rexford Industrial to increase revenue by enhancing its operations with solutions that include CommercialEdge Marketing, Deal Manager and CommercialEdge Legal.

CommercialEdge Marketing

Always on the lookout for new opportunities and assets that answer the acute demand of undersupplied markets, Rexford leverages the specific characteristics of each new asset to maximize returns and shorten deal cycles.

To achieve that, the REIT now centralizes the entirety of its space marketing operations on CommercialEdge Marketing, the all-in-one solution for CRE-specific marketing that delivers results through simplified workflows and agile tools. For example, leasing agents only have to update listing data on the company’s website, and it automatically refreshes on all connected platforms.

The solution also provides access to the CommercialEdge Listing Network, the proprietary syndication network that generates in excess of 300,000 qualified leads per year, significantly boosting listing exposure – especially when also leveraging the integrated API that allows leasing teams to easily syndicate listings published on the ILS network to other top marketplaces.

Additionally, CommercialEdge Marketing is fully integrated with Yardi Voyager, allowing for an even higher visibility of portfolio needs. Thus, Rexford can synchronize its assets and space availabilities with the marketing solution, automating the publishing and unpublishing of listings according to availabilities in Voyager.

Deal Manager

While the marketing solution maximizes exposure and leads, Deal Manager empowers clients like Rexford Industrial to maintain full visibility of deal metrics throughout the entire lease lifecycle. The deal pipeline management solution centralizes communication, documents and tasks, ensuring one source of truth for all parties, while also providing instant key metrics for proposal evaluations, like the automatically calculated net effective rent (NER).

Deal Manager also features a seamless integration with Yardi Voyager, offering adopters like Rexford Industrial real-time tenant and lease data such as schedules, expenses and clauses as well as full visibility of its client base.

CommercialEdge Legal

To further smoothen and speed up leasing timelines, the CommercialEdge Legal module offers up custom approval workflows, easy redlining and revision tracking, followed by automatically generated lease agreements populated with information from finalized proposals.

Beyond providing a dynamic platform for centralized dealmaking, CommercialEdge Legal also functions as consolidated document storage, as well as a collaboration facilitator with dedicated activity feeds. Users such as Rexford can further speed up deals by using the module’s e-signature tool, enjoying an entirely secure signing process which also automatically synchs up with Voyager.

As vacancies continue to tighten and rental rates trend upward, the industrial sector is slated for another exceptional year. And industrial operators such as Rexford that focus on delivering functional quality space in a competitive market are poised for additional growth. For companies looking to capitalize on current market conditions to increase portfolios and revenues, the answer lies in fine-tuned CRE solutions.

The post Rexford Industrial Converts Opportunities Into Deals With Next-Gen CRE Solutions appeared first on CommercialEdge.

Macerich is a leading choice for one-of-a-kind retail and mixed-use properties across major desirable commercial real estate (CRE) clusters. Its Class A, market-dominant properties are shaping the future of real estate with an innovative mix of brands, experiences and uses — all while championing sustainability. Consistently ahead of the curve, Macerich is now evolving its leasing and marketing processes with Yardi and the dynamic CRE solutions provided by CommercialEdge. 

The Challenge: Long Deal Cycles for Short-Term Leases  

In the era of short-term contracts and careful tenant consideration, no lease is too small or too short to be taken advantage of. Especially as larger tenants take more time and resources to convert, spaces suited for short-term arrangements can become an invaluable source of income.  

However, spaces primed for smaller entrepreneurial clients must also be promoted quickly and efficiently, as well as increasingly online — a daunting task when professionals have to manually manage listings both on property websites and online marketplaces. 

The Solution: Bringing CRE Into the E-Commerce Era 

In collaboration with Yardi and CommercialEdge, Macerich developed QuikSpace, a dynamic, short-term retail solution that accelerates and simplifies the leasing process end-to-end.  

“Yardi’s CommercialEdge was essential to powering QuikSpace — Macerich’s new digital platform — for frictionless, short-term retail leasing. CommercialEdge Marketing provided a highly user-friendly way for us to showcase our available space online, which supports our business goals of converting more prospects into tenants for our portfolio of market-leading retail and mixed-use properties.”

Aaron M. Spector, Assistant Vice President, Specialty Leasing, Macerich 

For Macerich, the powerful listing management application powered by CommercialEdge Marketing streamlines the entire lead lifecycle. Essentially, the platform enables them to manage and update all of their listings in one place and publish them on branded property websites, top CRE marketplaces and the powerful CommercialEdge Listing Network — all with just the push of a button. As a result, potential tenants can quickly asses properties by touring them online, while Macerich can promote spaces with almost zero effort on their side.  

The Story: From Manual Listings to Streamlined Marketing 

Centralizing and streamlining listings with dynamic marketing 

By integrating CommercialEdge Marketing with QuikSpace, Macerich can now create and manage all its listings from one single solution. The platform centralizes all short-term retail spaces in one place so brokers can essentially publish and unpublish them both on property websites, as well as across the web, through one connected platform.  

Courtesy of Macerich

“Owners can create a central repository for property listing data that connects with everywhere you would want that ad to be listed,” said Turner Levinson, senior account executive with Yardi. Moreover, the dedicated marketing team at CommercialEdge ensures that the QuikSpace web application is branded, user-friendly and SEO-optimized right out of the box. 

This time-saving system actively reduces the deal cycle while saving productive time in one go. Furthermore, because QuikSpace seamlessly connects with the Yardi property management software suite, Macerich can automate its advertising even further: CommercialEdge Marketing uploads and removes CRE spaces across the web based on their availability in Yardi Voyager — with no manual effort required. 

Leveraging a robust syndication network with one click 

The CommercialEdge Listing Network and its strategic syndication partnerships ensure that CRE firms get all of the coverage they need to close more and better leads: With just one click, brokers can publish and unpublish CRE spaces on a rapidly expanding network that includes five top marketplaces which rank on the first page of Google and produce over 300K qualified leads per year. At the same time, professionals can simultaneously syndicate listings to the top CRE internet services outside of the CommercialEdge Listing Network, as well. 

The CommercialEdge stack enables CRE teams to publish unlimited spaces through the in-house network and outside marketplaces. Coupled with a dynamic add-on feature that generates branded property websites, the open and all-in-one CRE marketing platform has the power to boost occupancy across markets and asset classes.  

The post Macerich Accelerates Short-Term Retail Leasing With Automation appeared first on CommercialEdge.