Commercial real estate is making substantial leaps in business performance using methods that were simply not possible less than a decade ago.

With so many options, deciding where and how to use the latest technological innovations can feel overwhelming.

We asked some of today’s industry leaders to share advice about how today’s best tech helps retain tenants, improve productivity and help them make smarter, faster decisions.

Here’s what they had to say:

 


Beacon Capital Partners has embraced technology to help us further strengthen Beacon’s ability to attract and retain tenants, communicate with third parties, improve sustainability, reduce operating costs, create a great tenant experience and generally operate more efficiently. For example, WiredScore has improved how we look at telecommunications; VTS has improved how we and our leasing brokers track our leasing process, and Honest Buildings has improved our tracking of capital projects. We continue to evaluate other new technologies that have great potential to further transform how we work.

Sara Shank (Managing Director), Beacon Capital Partners 

 

Technology has increased the speed to conduct research, property/ portfolio analysis, marketing outreach, lease/sale transaction management, property/facilities management and accounting. It also contributes to exponentially increased workload efficiencies for our staff. We’ve had the same sized office for 20 years, and most of our staff has been in place for 10-15 of them, but today own and manage nearly 6 times the amount of square footage.

Tim Lescalleet (Senior Vice President), Griffin Industrial

 

Real estate has been one of the largest lagging industries to be transformed by technology at the organizational level. We are now finally seeing high quality solutions being offered which improve our ability to gain operating and organizational efficiency thanks to large amount of VC capital flowing into the real estate tech space. While in the past we have been almost exclusively focused at working ‘in the business’ at the asset level, we are now fully engaged on working ‘on our business’ at the organizational level. We are making better and faster decisions by taking advantage of enterprise and systems software that is data and process focused.

Alex Zikakis (President), Capstone Advisors

 

Adopting technology has allowed us to scale our asset management platform while still maintaining a relatively small and nimble team. Incorporating technology solutions in asset management, financial reporting, data analytics, leasing, and marketing is one of the reasons we can manage $3.2Bn of assets under management with a team of 26 people.

Anthony Paes-Braga(Senior Asset Manager), Nicola Wealth

 

Leveraging the SharpLaunch platform has enabled MMG to fully highlight our commercial properties including property info, images & video, floor plans, leasing flyers, available spaces, and whom to contact. We recently implemented a CRM allowing us to share and manage contact information across the organization. A custom module was developed for the CRM to track the property acquisition process, which has streamlined the acquisition process and keeps all team members up to date on where various prospects sit within the pipeline. 

Michael Navarro, MMG Equity Partners

 

Overall. Adoption has been slower than I would have thought. I do believe that certain point solutions have added value to certain processes that were very inefficient. The one big plus has been the cloud has enabled all our information to be de siloed which have given instant access to information that was otherwise hard to retrieve.

Jonathan Schultz (Principal), Onyx Equities


Go all in or don’t go at all. Can’t go half-hearted into the implementation of a technology component/platform; it requires full team commitment, training and follow through. Anything less does not release the efficiencies and cost savings that it is meant to provide.

Tim Lescalleet (Senior Vice President), Griffin Industrial


Read the full responses in the eBook.