SAN FRANCISCO—Information management is centralto leasing a property, yet central online sources for leasinginformation have been missing until very recently. Cloud-based,mobile-optimized platforms for leasing are now connecting the dots,allowing landlords, their brokers, and their prospective tenants toshare data more effectively.

Two platforms, which both started in the past two years that aredemonstrating the potential of these technologies includeHightower and VTS. Theseplatforms are gaining significant traction, as demonstrated by the$16.3 million in venture capital funding they have collectivelyreceived. The value proposition behind these platforms issimple: they save time (shortening the leasing cycle),enhance communication, and empower brokers and landlords to makebetter data driven decisions.

The components to these platforms are integrated. Corecomponents of these portfolio-wide & analytic platforms are thefollowing elements:

  • Structured Database—Users can tracktours, listings, assignments, space inventory and even files as adigital drop box(ex. floor plans or lease contract)
  • Centralized Relationship Management (CRM)—The platforms track who is involved in the dealprocess
  • Integrated Space Marketing—Brokerscan quickly share relevant property/space information, eveninitiating a “lead” to be tracked in the system
  • Dynamic Reporting—Traditionally,leasing reports are static, sent out only when the property owneris meeting with their broker or when specifically requested. Theseplatforms allow owners and brokers to view real time information onspaces and buildings, even including push notifications foractivities like new tours or a lease execution.

Adoption of this technology is growing among both institutionalowners and major brokerage firms, including institutional ownerslike Hines, Shorenstein,Brookfield, and Equity Office.Traditionally, owners have relied on leasing comparables tounderstand the market. The difference, according to RyanMasiello, chief revenue officer at VTS, is that “compsshow you what already happened. This [also] shows you what ishappening.”

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.