Mixed-Use Uses the Same Program
Re-Defining Mixed-Use Projects
Mixed-use projects are not new, but some locations and developers entering this area are new. With an increased demand of mixed-used projects and more being implemented within newer areas not accustom to them, the old models may not necessarily work. The definition of "mixed" can be a broad definition; the look, feel and experience can vary from location to location let alone project to project. With the increase and spread of mixed-use projects, more developers are entering this arena and moving away from previous linear development approach. As a result, multiple data points previously segmented along property types are now being merged, combined and correlated to create that perfect combination. Retail business intelligence and comparative analytics are needed with other previous statics points to help landlords attract a wide range of tenants including residents, shoppers, and entertainment seekers.
Previously, landlords would delineate their leasing strategies to commercial or residential users, but now the lines have blurred. The emergence of an environment where consumers prefer to spend a majority their time in one location where all their requirements are met. That's where retail site analytics comes in. Real estate developers need to provide the proper assortment of amenities such as fitness centers, entertainment, quick urgent care and more in some form of a combination. The other portion of the "mixed" still needs to be tracked with its appropriate data points applied and confirmed. Maintaining the ability to review both sets of data points side by side is more important than ever. This is where business intelligence software, such as Real Clear Software ("RCS") can help. RCS helps developers and landlords track and categorize properties, allowing its clients to keep them separated, yet the information combined at the same time. Whether you need functions like lease tracking and retail site analytics, Real Clear Software can help you with all aspects. There is no need for two separate programs when they can be compiled together in one.
What Analytics Do you Use
By applying retail site analytics, landlords can track retail-oriented data points, real estate KPI and compare them to other data points in a single location. This way overall acceptance of the amenity can be confirmed. By tracking social media reviews such as Yelp scores, Facebook rankings, when reviewing the retail portions and comparing them to vacancies of other product types can bring insight into the overall success of the project. On a single commercial real estate dashboard, real estate performance and location optimization can be verified on aspects of the "mixed" project. RCS software application can also help you estimate the maintenance costs you may incur and the possibility of lessees negotiating for rents calculated according to the percentage of earnings per month.
Leave it to advanced software like Real Clear Software to compile the necessary up to the date data comparison and apply accurate analytics when reviewing key performance indicators. By using these details, users can develop an understanding of the commercial real estate trends for the year and plan leasing strategies accordingly.