Dynamic Challenges Require Tailored Solutions
The rapid and widespread adoption of flexible work models has created a new set of challenges in commercial office. Demand has dropped dramatically and utilization is now highly volatile. As competition increases, Owners will be required to adopt a data-driven approach and create new business plans.
REKalibrate offers you a targeted solution to address these challenges head-on and develop new approaches that account for this new shape of demand. Our platform goes beyond traditional portfolio management by providing customized insights that enable you to make informed decisions at every stage of the asset and tenant lifecycle.
Pulling It All Together
Our data models – rooted in the fusion of People, Time, Space, and Dollars data – establish a unique intermediate view, which we call the demand curve. Demand curves add context and replace oversimplified statistics with an easily referenced visual.
We build from the foundation of a simple metric, daily occupancy data, to unlock new, more comprehensive metrics that provide deeper insight into tenants’ real-time behavior and potential future decisions. These tracked metrics are subject to change as behaviors change, making it imperative to maintain this data and review it often. Identifying trends can dramatically improve the effectiveness of tenant strategies.
Cost of Unused Space
The delta between the amount of space being lease and peak occupancy, sometimes referred to as the cost of excess space.
Cost of Utilization
The area under the curve, representing what was used of total cost.
Cost of Underutilization
The area above the curve, representing space that is being used inefficiently.
Renewal Probability
The probability the occupier will renew in their existing footprint. This is critical to re-basing our leasing assumptions and identifying the amount of space a tenant will require upon lease expiration.
Data that Drives Action
People drive value in real estate. Understanding the new dynamic nature of demand can create significant advantages across all aspects of CRE. Asset Managers can proactively respond to emerging customer needs, Leasing teams can have more informed conversations with current and prospective tenants, and Property Managers can remove inefficiencies to improve the bottom line.
With the REKalibrate platform’s comprehensive approach, we can uncover patterns and trends that may not be apparent when looking at individual data points in isolation. Our deeper understanding of the data enables us to address the diverse challenges facing each functional group.