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VTS Announces VTS MarketView, First-Ever Real-time Benchmarking and Market Analytics for Commercial Real Estate

In a first for the global commercial real estate (CRE) industry, VTS,
the leading leasing and asset management platform for CRE today unveiled
VTS MarketView. CRE professionals will be able to compare in real-time
their performance versus market benchmarks for critical operational,
financial and supply and demand metrics. Nearly one-third of all US
office buildings and billions of square footage of retail and industrial
assets are managed today on the VTS platform, making VTS uniquely
able to provide accurate transaction metrics as they occur, and unlike
self-reported data obtained by surveys, VTS MarketView is based on
actual real-time leasing and transaction data. Commercial landlords and
their investors will be able to leverage VTS’ unparalleled market
insights to optimize their leasing performance and drive better
investment decisions.

“With VTS MarketView, we are delivering a platform unlike anything our
industry has ever seen,” said Nick Romito, CEO, VTS. “VTS MarketView
will make it easy for VTS customers to make real-time leasing and
investment decisions based on the most accurate and up-to-date
benchmarks available in commercial real estate. This goes far beyond
market reports; the data and insights will be embedded in their workflow
and presented in context to drive better decisions.”

A revolution in commercial real estate data

Until today, market benchmarking data for commercial leasing has been
neither transparent, timely, nor accurate. The industry today relies on
anecdotal data or general market reports based on self-reported data
that’s three to six months stale by the time it’s released, and not much
has changed in the last 25 years. As a result, CRE professionals have
had to make leasing and investment decisions with limited visibility
into the markets they’re competing in and their performance within those
markets. This lack of visibility is increasingly difficult to justify as
all industries become data driven.

Using real-time market data to make better decisions has been the
standard for other similar industries such as multi-family as well as
hospitality for some time. RealPage Yieldstar® helps multi-family owners
leverage market data to determine pricing in real-time, and for
hospitality, the STR Global Report helps you benchmark your hotels’
occupancy or revenue that day. Market data is a critical part of both of
these industries. Unlike multi-family real estate or the hotel space,
when it comes to office, industrial, or retail properties, market
leasing data on pricing, tenant demand, or operating efficiency within
buildings is neither transparent to the market nor is it recent.
Commercial real estate professionals struggle to make the most informed
investment and leasing decisions today as some market financial,
operational and demand benchmarks such as rent per square foot are
either self-reported via a quarterly survey or simply don’t exist.

“Our industry is institutionalizing and digitizing at the same time. We
believe that in the midst of these two shifts operational excellence
will be the key to creating asset value and the future leaders will be
those who harness data and analytics in their leasing and investing. VTS
MarketView is built from the ground up to solve this problem for our
clients – empowering them to leverage data to drive new levels of
operational excellence and scale their portfolios,” said Brandon Weber,
Chief Product Officer.

The VTS MarketView Solution

With almost 8 billion square feet – the equivalent of one in every three
office buildings in the US –VTS captures billions of proprietary leasing
data points in real-time. In an industry-first, VTS MarketView will
enable VTS customers to compare property level performance against the
market across key metrics including rent, concessions, leasing velocity,
deal conversion rates, and many more, all live and based on real-time
transaction data.

In addition to rich leasing benchmarks, VTS MarketView will offer
proprietary operational metrics developed by VTS aimed at identifying
leading indicators of opportunity and risk across the portfolio.

In the future, VTS MarketView will leverage machine learning and data
science techniques to provide predictions and recommendations for
maximizing asset value.

Maintaining client trust is paramount for VTS and its growing client
base. All benchmarking metrics are built from a non-identifiable,
aggregated, and anonymized data set. Providing anonymized leasing data
to VTS for MarketView is entirely voluntary and opt-in. VTS customers do
not have to participate, but those who don’t choose to participate will
not have access to MarketView as a result. The majority of VTS customers
have already opted in to participate.

“VTS has proven to be a powerful resource for Brookfield, helping us
identify and capitalize on opportunities within our portfolio we
otherwise might not have seen,” said Kevin Danehy, Global Head of
Corporate Development, Brookfield Properties. “We are always looking for
ways to improve our client tracking and overall analytics capabilities,
and the company’s new offering looks likely to be a valuable and
forward-thinking addition to the VTS platform.”

“As competition in our industry increases, it’s critical for our team to
continue to manage our portfolios in an exceptional way. Having access
to real-time benchmarking data is central to this – not only will it
allow us to accelerate the rate at which we can make important
decisions, but will immediately give us even more confidence that the
decisions we’re making are the right ones. This is a defining moment for
our industry and we’re thrilled to be a part of it,” said Adam Hastings,
Managing Director, Hines.

Pricing and Availability of VTS MarketView

VTS MarketView will be made available in limited beta to select VTS
customers beginning in late 2018, with availability anticipated in early
2019. Pricing for VTS MarketView will be announced as it is made
generally available.

About VTS

VTS is the commercial real estate industry’s leading leasing and asset
management platform. Landlords use VTS to maximize portfolio performance
by transforming their leasing and asset management process, enabling
them to acquire the right tenants faster, sign the right deals at the
best economics, and optimize the renewal process – reducing costly
downtime. Brokers can manage their deal pipeline and get tenants into
empty spaces faster, collaborate across teams and work easily with their
landlord clients using VTS for Brokers.

The VTS platform manages 8 billion square feet of commercial real estate
and a user base exceeding 28,000 and boasts an impressive client roster
that includes global leaders such as Beacon Capital, Blackstone, LaSalle
Investment Management, Hines, Boston Properties, JLL, and CBRE.

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