The Power of Data for CRE Leasing Decisions

Cohesion Smart Building The Power of Data for CRE Leasing Decisions

When it comes to leasing, building owners can sometimes find that they are functioning with limited information about the tenants in their buildings, making it difficult to know what tenants want. When it’s time to discuss tenant renewal, owners want to be able to answer questions. How likely is a tenant to renew? Will they accept options for more space? Will they want less space?

Often, owners are forced to rely on the perspective of property managers to gauge the answers to these questions during the leasing process. Similarly, brokers act as middlemen in the leasing process, and they throw in many negotiation points that can make it hard for building owners to cut through what’s accurate or not. If building owners knew what tenants truly wanted – how they use the building and what keeps them engaged – they could set themselves up for the negotiation.

A data analytics platform that surfaces actionable insights to building owners is the key to allowing owners to make informed decisions.

View Occupancy Insights

Tenant space needs can be understood with occupancy analytics. We can see how a tenant’s headcount translates to the amount of space that they have. We can also look at the historical traffic of the tenant to see whether they’ve been trending up or down in occupancy to assess if a tenant may request more or less space.

With the Cohesion platform, we also combine occupancy data with other data sets. For example, we can also calculate how occupancy affects indoor air quality, and in the future, we’ll be able to calculate the energy usage of a building relative to occupant utilization.

Understand How Tenants Use Space

By looking at platform analytics, we see how tenants are using space. We can reveal the number of visitors, amenity reservations, and parking visits that have taken place in a day and over time. Additionally, we can measure building application engagement to understand how and if tenants are engaged with the building. Armed with this information, building owners can better understand how their space is being used, know what’s important to tenants during the negotiation process, and help determine if they need to adjust what they offer before closing a deal.

Gather Portfolio Insights

Gathering portfolio-level insights is an extremely valuable tool for building owners to compare building performance across a portfolio to find ways to increase efficiencies and optimize ROI. By aggregating and comparing analytics across multiple properties, building owners have access to insights on energy performance, ancillary revenue, space utilization, amenity usage, and more.

Data analytics gives building owners the ability to maximize their space, understand what tenants want, and set themselves up for success. Curious where to look for these solutions? Check out our features to learn how our IoT application is addressing what building owners need or request a demo from our team.

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