Software Specifically for Retail Leasing and Asset Management Announced by VTS
- Commercial Real Estate
- CREtech Blog
Just recently, VTS made headlines after announcing that it set a record for venture capital funding of $55 million. As a leader in both leasing and asset management, the funding acquired advanced this technology company to the next level. Once again, VTS has been in the news, this time announcing its first retail-specific software for leasing and asset management purposes.
VTS Retail, which is a retail-specific leasing and asset management platform, is designed to tailor to the needs of landlords and brokers in the retail market. With this platform, users will enjoy streamlined workflow via tenant sales tracking, interactive site plans, asset health ratios, and pipeline management. Since raising the $55 million in C funding, this is the company’s first major product announcement.
As shown by Real Capital Analytics, 17% of total sales for the first quarter of this year was dedicated to the retail market within commercial real estate. However, there has not been any type of technology platform to-date to properly support both landlord and broker needs within this asset class.
It was pointed out that because of space and building compositions, different characteristics that tenants have, and unique workflows, the retail sector desperately needed a platform that was tailored to these special needs. However, prior to the launch of VTS Retail, no such platform existed. Therefore, landlords and brokers struggled and business was negatively impacted.
With the new VTS Retail platform for leasing and asset management designed specifically for landlords and brokers of retail properties, things will change dramatically. As the first of its kind, news about this new retail platform is quickly spreading, and people are getting excited about the incredible possibilities that it offers.
As stated by co-founder and CEO Nick Romito, there is excitement in bringing the first retail-specific solution for leasing and asset management to the market. By launching VTS Retail, the company has the opportunity to expand into the retail sector. In doing so, VTS is the only industry-wide platform for retail, as well as classes for industrial and office.
Key Features of VTS Retail
As part of VTS Retail as several key features. Each of these has been carefully tailored to meet the needs of landlords and brokers within the retail market.
Real Time Deal Analysis – With this, users are empowered with models and data required to avoid potentially risky deals.
Interactive Site Plans – These plans update automatically whenever there are changes made to site plans. Because of this, users always have access to an accurate view of all retail spaces.
Health Metrics – Another great feature of VTS Retail is the health metrics for tenants. This makes it quicker and easier for users to identify tenants who are underperforming. Based on that information, important decisions are made.
Using VTS Retail, managing deal activity, quantifying portfolio performance, and identifying trends can be done via a desktop computer or mobile device. Currently, VTS has more than 2.7 billion square feet of space under management. With recent funding, more exciting solutions are to come.