Tenant mix goes interactive in the cloud
18 November 2014
Traditionally, the property industry has emphasised tenant mix as a key performance indicator for retail properties. But tenant mix applies across the complete spectrum of commercial real estate including offices and industrial sites as well as retail properties.
Irrespective of the property type – retail, office or industrial – shrewd investors want to know whether a property is exposed to tenants from a certain industry, especially those exposed to cyclical industries such as mining, or to growth industries such as technology.
It’s also the case that tenants in industries providing health care or automotive services often prefer to locate close to where other similar businesses are located, because they often refer trade to one another. There are many other examples, including the finance and insurance sectors, but the point is that being able to instantly reveal tenant mix at a site or property can provide a distinct competitive advantage.
New technology in the form of secure cloud databases, pervasive mobile networks and iPads has now made this a possibility. An agent conducting an inspection at a property can now show a client the tenant mix on-demand. Questions such as, “Who else in this building is in the software industry?” can be answered in real time.
In Surga Central 3.0, we’ve taken tenant mix interactive. Click the tenant mix icon and the tenant mix is generated in the form of an interactive pie chart. Click a segment of the pie and you can see all the businesses in that industry at the site or property. All the tenancy information – lease expiry date, area leased and rent paid is delivered through the cloud allowing the agent to engage in a highly professional manner with the client.
In the digital age, the winners are those who can embrace the potential of technology for competitive advantage and improved customer service. Interactive tenant mix is an important step in that direction.