Launching a New Market
- Obtain, combine and standardize tax assessor files to create baseline of commercial properties
- Load data into proprietary drive tool application
- Drive teams photograph and conduct a physical site inspection of all commercial structures
- Identify the Broker Company and/or Property Management Company representing each building
- Contact listing companies and property management firms to build out a comprehensive inventory of all properties available for lease or sale
- Verify and match tenant records to each property
- Confirm historical sale transactions completed over the last few years that include the type of structure, true buyer and seller, and any available financial details
|
|
Updating and Verifying Lease and Sale Listings
- Proactively call listing representatives to update all listings in the market on a 30-45 day cycle
- Distinguish when blocks of space become physically 'vacant' versus being marketed as 'available' to accurately reflect market activity
- For each space where a tenant has Moved In or Moved Out, determine the company involved, date it occurred and brokers involved. A comprehensive list of occupancy changes will be reviewed and verified by the advisory boards at the end of each quarter
- Local market drivers continuously canvas the market searching for new listings, new listing companies, new construction or significant changes in occupancy
|
Researching Commercial Sale Transactions
- Identify and gather all sale transactions from each county on a monthly basis
- Identify and separate commercial sales from residential sales
- Build out each sale comparable to include transaction details, true owner, maps, occupancy rate and tenant roster at the time of sale, and any related news articles
- Conduct a physical site inspection to capture photo at time of sale and validate physical characteristics of what sold (multiple parcels, land and building, tenants, etc)
- Contact the parties to the transaction to confirm specific information
|
|
Verified Tenant Information
- Confirm address, suite and occupancy information for each tenant with the goal of making a stacking or site plan for each property
- Identify and collect contact information for the decision market at each location
- Enhance each tenant with any real estate specific information available, including move in date, expiration date, and asking lease rate at time of occupancy
|