REAL ESTATE TECHNOLOGY
@properties | July 08, 2021
@properties, one of the nation's largest residential brokerage firms, announced today the acquisition of Suburban Jungle Group (Suburban Jungle), a real estate technology and advisory firm that helps home buyers identify the best suburbs or neighborhoods for their specific needs before matching them with a vetted real estate agent. Suburban Jungle, based in New York, presently serves nine major U.S. metropolitan regions.
Suburban Jungle founder and president Alison Bernstein will continue to manage the company, according to @properties co-CEOs Thad Wong and Mike Golden. In addition, the firm will continue to operate independently, with its strategists recommending clients to real estate agents based on the agents' local knowledge and proven commitment to Suburban Jungle's buyer-advocacy model.
Suburban Jungle was established by Bernstein in 2004 when he was a student at Columbia Business School. The company was her answer to determining which of the 500 towns and suburbs in New York City would be the best match for her family.
Highly experienced Suburban Jungle strategists suggest locations for their customers based on in-depth client interviews, technology, and extensive local experience. The strategist works with both parties after recommending the buyer to a real estate agent until the buyer finds a house. The Jungler app from the company adds another degree of efficiency by enabling the buyer, agent, and strategist to exchange resources, schedule appointments, interact with locals, and provide feedback.
Suburban Jungle is currently available in the following cities: New York, Chicago, Dallas/Fort Worth, Philadelphia, San Francisco, Boston, Washington, D.C., South Florida, and Austin. The company also provides an Urban Jungle service that focuses on New York's five boroughs and services for move-down buyers.
Suburban Jungle will gain resources from the sale to @properties, allowing it to develop its tech platform further while extending into new markets and growing in current ones. @properties is also expanding. With the acquisitions of Ansley Real Estate in Atlanta and Nest Realty in Charlottesville in 2019, the Chicago-based company has expanded outside the Midwest. In addition, @properties will launch a national franchise brand in late 2020, with franchises already in Detroit and La Crosse, Wisconsin.
@properties, founded in 2000, is ranked eighth on the REALTrends 500 list of the largest residential brokerage companies in the United States by sales volume. @properties and its affiliated companies employ over 4,000 real estate agents throughout nine states in 65 office locations. Pl@tform, an integrated application suite created by @properties, assists its agents in managing all elements of the client relationship and real estate transaction.
About Suburban Jungle Group
Suburban Jungle Group is the first-of-its-kind real estate advisory and technology platform devoted only to assisting house buyers in locating the ideal town or suburb before looking for a property. The company's award-winning and objective "town first" approach to real estate guarantees that homebuyers look in the correct areas and ask the right questions. Home buyers are not charged for this service.
REAL ESTATE TECHNOLOGY
Placer.ai | November 12, 2021
Placer.ai, the leader in location analytics and foot traffic data, released its Void Analysis tool today. Void Analysis is an easy-to-use interactive tool that empowers shopping center owners or leasing representatives to find the ideal tenants for any retail space. Prospective tenants are ranked and ordered based on a variety of factors, and a list of tenants is then automatically produced, quickly identifying the ideal candidates and candidate types for any vacant retail space.
"The retail real estate market is experiencing an unprecedented moment of change and the role of data in guiding decision-making is only increasing. Placer's Void Analysis tool enables CRE professionals to rapidly identify the ideal fit for any retail space based on a variety of critical factors. With this information, ideal candidates can be quickly identified and the pitch strengthened with objective, reliable location analytics. The result is a unique opportunity to help CRE professionals make better decisions, and faster than ever before."
- Placer.ai Co-Founder and CEO Noam Ben-Zvi.
Void Analysis consists of two main elements:
Analyze top tenants
Top potential tenants for any shopping center vacancy based can be identified based on their Relative Fit Score (RFS).
The Relative Fit Score is based on several parameters including demographic fit score (DFS), cannibalization rate, average monthly foot traffic, and co-tenancy fit.
Learn more about potential tenants
Dive deep into the match between your shopping center and a
prospective tenant, including the breakdown of which factors suggest strong potential success.
Gain a detailed look at key metrics like household income, gender, age, frequent co-tenants, and other parameters to help sharpen the focus and customize the search to account for more variables.
Void Analysis is currently available to all Placer.ai subscribers.
Silicon Valley-based Placer.ai is the most advanced foot traffic analytics platform, allowing anyone with a stake in the physical world to instantly generate insights into any property for a deeper understanding of the factors that drive success. Placer.ai is the first platform that fully empowers professionals in retail, commercial real estate, hospitality, economic development, and more to truly understand and maximize their offline activities.
REAL ESTATE TECHNOLOGY
Reonomy | August 04, 2021
Reonomy, the leading provider of actionable CRE data, has expanded its Market Glance insights to a total of 30 Metropolitan Statistical Areas (MSAs), across Multifamily, Office, Retail, Industrial and Hospitality categories. The expansion is part of Reonomy's commitment to helping organizations–ranging from brokerages and banks, to commercial services providers–better understand the people, properties and companies behind commercial real estate (CRE).
Reonomy pulls data from a vast network of providers to aggregate insights on all commercial properties across the US, including assessor, census, transaction, geospatial, ownership and occupant data. Using machine learning and proprietary entity resolution capabilities, Reonomy then stitches together all data sources on the parcel level with a single identifier. The resulting data set is an industry-leading collection of insights across more than 50 million commercial properties.
Reonomy's Market Glances draw upon this dataset to provide a timely snapshot of each MSA. Centered around the Reonomy Price Index (RPI)–a collection of composite sales price indices measuring change and fluctuation of markets by asset type–the Market Glances also include sales mix, sales volume, market share, monthly transactions and noteworthy sales.
Notable findings in Reonomy's latest refresh of its Market Glances include:
Pandemic Recovery is Spotty for Offices: Across 30 markets, just three have recovered to pre-pandemic levels in terms of office sales volume: San Antonio (+20%), Phoenix (+20%) and Tampa (+12%). All others sit at or below 2019 levels.
What Tech Exodus?: San Francisco's 12-month rolling average RPI of 382 for Office transactions is higher than at any point in the past 20 years–indicating that the impact of a "tech exodus" from the Bay Area has been dramatically overstated.
Retail's Struggle: While retail sales volume has recovered to 2019 levels in a handful of MSAs, it remains precipitously low in cities like New York, where volume has decreased by 80% compared to pre-pandemic levels in 2019, and in Dallas, where volume has decreased by 54% compared to 2019.
"The commercial real estate data landscape is incredibly fragmented. Reonomy is designed to help CRE professionals make smarter decisions with all of their data and insights in one place," said Bill Okun, CEO of Reonomy. "We make these Market Glances available to the public so that everyone in CRE can understand, from a macro level, what's happening in a given area. Whether you're looking into noteworthy transactions in a specific city or are interested in market share by square footage, we have the analysis in one convenient place."
Reonomy is the leading provider of CRE insights, empowering top brokerages, financial institutions, and commercial services providers with actionable data and solutions. Armed with Reonomy's enterprise-grade products, CRE professionals and organizations gain comprehensive market understanding, discover opportunities, and streamline research processes.