A new allay is emerging in the battle for the hearts and minds of commercial real estate buyers in the city. ARetailSpace is a new app designed specifically to help commercial brokers build more client trust, manage projects more effectively, and help their clients find the perfect property every time.
"I’ve been looking for a solution like A Retail Space for years," says Anjee Solanki, the National Director of Retail Services at Colliers International.
"These insights are in high demand by clients and CRE professionals across the category. Their offering is unique - it brings a whole new level of intelligence to the space that we’ve never seen before, allowing key stakeholders to make informed and quick decisions.”
ARetailSpace promises to provide actionable commercial real estate insights that help brokers build strong client relationships and help their clients make the right buying and leasing decisions, faster. But how?
The answer starts with their powerful In-Depth Walk-By Traffic Analysis. With it, realtors can easily pull data on walk-by traffic for any location in the city and segment it by demographics and income, day of week, or even how far each walker is from home.
They provide this data through a complex algorithm which mixes census data with SDK data from the mobile phones of users walking in the area. Using this, commercial realtors can now unlock the pièce de résistance - Smart Property Comparisons.
Using the in-depth property data, ARetailSpace can now compare properties directly along each insight category. Of particular note is the “Address Quality Ranking” score. Taking the realtor’s client Customer Profile, the app compares a property on all data available and produces a percentile score for how good a property is for a particular client when compared to all other locations in the city.
Let’s say a realtor is helping a national coffee chain find their next location in New York City. Using a their ideal customer profile, ARetailSpace could then tell them whether their potential property at 111 West Broadway is in the 7th or 70th percentile of best property choices in the city.
Add to this client Project Management and Chat, realtors can now manage all their property data and clients all in one app.
Flatiron District, New York City
Greenwich Villiage, New York City
“Data-driven property and location insights are a necessity,” says Lise Myers, Partner at L Catterton Partners. "And if you’re not incorporating A Retail Space’s offering with your future property decisions, you’re dead in the water. Their solution is a must for any broker or retailer.”
ARetailSpace bridges the gap between consumer tech and commercial real estate, and their founders reflect that in spades. CEO Scott Bagby was serving as the VP New Markets at Skype when it was acquired by Microsoft, and Michael Schoen sports a long list of commercial real estate development projects created under The Schoen Group at Savitt Partners, including Space 530 in Manhattan.
ARetailSpace has hitherto only been available to larger realty brands, but last month they released a free Lite version that can be accessed by commercial realtors independently as well. When asked what’s next, CEO Scott Bagby replied “To drive more and more value into our realtor’s client relationships until they forget what they did before using us.”