Intro
The core purpose of leasing is to find potential customers (tenants) and their influencers (brokers), advance deals down the funnel through consistent touchpoints, and close more deals with unrivaled returns on investment. No tool in commercial real estate enables brokers and reaches these audiences more effectively than RealtyAds. Therefore, RealtyAds should be the foundational component of any property’s leasing strategy.
Strategy
A prime example of brokers leveraging RealtyAds to enable their leasing efforts is the asset team at 600 Washington in Stamford, CT. In the process of evaluating their leasing strategy, they found the baseline set was inconsistent and underwhelming. In an effort to reset their leasing and marketing baseline, the team implemented RealtyAds and applied their active strategy to align their market knowledge and expertise with technology… below are some of the high-level pieces of this strategy.
They stayed consistently in front of Viking Global Investors end-users and representation to lease 600 Washington Boulevard. Over 30 months of a deal cycle, JLL implemented this strategy within RealtyAds platform…
- Proactively add known prospective companies looking for market space to Company Targeting every quarter.
- Uploaded their curated broker distribution list to Individual Targeting in RealtyAds and updated it annually.
- Leveraging Priority Targeting to ensure marketing dollars are prioritized to the most critical audiences in real-time, especially prospects that have toured the asset.
Before RealtyAds
Before making RealtyAds the core of their leasing enablement strategy, 600 Washington Boulevard reached 0 C-suite executives at target companies, only 12% of the tenant rep market, generated no hyper-targeted views, and wasn’t able to reach a single prospect post-tour.
After RealtyAds
For 30 months, decision-makers and tenant reps were exposed to the asset’s digital presence, helping JLL keep it relevant and in front of critical audiences. Once implemented, 600 Washington Boulevard reached more than 160 companies monthly, increased monthly tenant rep reach to 82%, averaged over 10,200 monthly hyper-targeted views, and reached prospects post-tour every 4 days.
Takeaway
One of the highlighted successes of these efforts was securing Viking Global Investors as a tenant at the property for 43,000 SF. The brokers identified Viking Global as a key target in September 2020. That same month, decision-makers at Viking Global began interacting with 600 Washington’s digital presence every month for the next 30 months.
Brokers adjusted Viking Global to a ‘high priority pursuit’ in September of 2022, and our algorithm automatically began further prioritizing spend towards the decision-makers at Viking Global to advance the deal (reached the c-suite 400+ times that month alone). Over the 30-month pursuit of this tenant, RITA successfully reached the c-suite at Viking Global over 1,000 times.
By leveraging the most targeted, effective, and essential software in CRE, JLL helped Rubenstein facilitate more than $10,000,000+ in transaction value on less than $2,000 monthly spend with RealtyAds. Unlike any other form of leasing enablement available to Rubenstein, RealtyAds enabled the team to effectively reach the customer and remind them of the opportunity throughout the 2+ year-long pursuit.
