Address Case Study: The Offices at Park Place

Situation

KBS and CBRE were looking for a way to communicate The Offices at Park Place’s message to end-users directly, especially post-tour as critical leasing decisions are being made. Despite having great relationships with the local brokerage community, they were still missing a foundational component of any marketing strategy – proactively reaching their potential customers.

Furthermore, it was critical for CBRE to apply their market knowledge to specifically target companies they had identified as qualified prospects. Within these firms, they needed to reach those involved in real estate discussions and, ultimately, execute a lease.

Solution

In February of 2021, KBS armored CBRE with RealtyAds Pursuit Marketing technology to help the brokers transact with more success. The tool instantly gave CBRE the ability to leverage their valuable data and market intelligence in a proactive fashion. CBRE immediately began populating their targeting lists in RealtyAds with tenants in the market, active pursuits, and companies who had toured the property.

At the start of Q4, after the adoption of RealtyAds, KBS announced multiple completed deals at The Offices at Park Place. RealtyAds algorithm, RITA, had reached the C-Level decision makers at 80% of the companies that signed leases at The Offices at Park Place over the previous 8 months.

Takeaway

In a world, let alone industry driven by data, it has become increasingly more important to find the most effective ways to leverage your data to combat vacancy. RealtyAds provides the vehicle to accomplish this. We marry a broker’s local market knowledge and data to proactively deliver your message on the world’s most established marketing channels. This data-driven approach to marketing not only ensures that the right people are seeing your property but eliminates wasteful marketing spends.

Other Important Information

  • RealtyAds increased local broker reach by over 600%
  • RealtyAds reached c-level decision-makers at 1,300+ companies
  • RealtyAds equipped the asset with the ability to reach tenants and represent brokers post-tour, now accounting for over 28,000 targeted views specified by the property’s leasing team

REALTYADS PURSUIT MARKETING: Q3 BY THE NUMBERS

In Q3, KBS spent less than $5,000 on RealtyAds to help its team close $11,500,000 worth of transactions

RealtyAds provides us with a unique set of market exposure in communicating with the brokerage community and keeping our buildings top-of-mind. We are most impressed with their ability to reach the end-user and decision makers. RealtyAds is now an essential part of our marketing strategy."

Asset Manager

Senior Vice President | KBS

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