It's All About the Data
Understanding the commercial office space market in the D.C./Maryland/Northern Virginia area can revolve around analyzing the right data. At Cresa, we are experts in collecting and understanding the data that can give you the edge with strategically planning your office space requirements in the post-Covid world. Per this short article by Jared Kinch, Senior Advisor with Cresa, things have changed. Cresa continues to mine data to formulate strategic decisions and works with you and your company to find the best real estate solutions.
If you have questions about the data driving the market in the greater Washington D.C. area, let’s start a conversation. I can help you analyze information about the market and develop custom hybrid work models along with real estate strategies. Contact me directly at 301-841-6542 or visit my website.
In the past, when meeting with current or prospective clients, we did not often rely on data as a primary talking point. After all, these conversations instead solely revolved around the proposed execution of transactions, the vast reach of the firm, or market-specific strategies. But while those topics are undoubtedly important and will continue to remain key points of emphasis, in recent years we’ve seen the shift of how data tends to peek its nerdy little head into the conversation as well. Real estate portfolios are rich in data, and we are beginning to lean on this information to formulate strategic decisions more than ever.
Data in the Present Day
With a return to the office on the horizon, we need to be smarter about understanding the different types of data we have access to and what it can tell us. Publicly available data sources such as the Bureau of Labor Statistics and Census Bureau can help us gain a better understanding around labor and population trends. We can also tap into internal resources like integrated workplace management systems, HR software, badge readers and employee surveys, and draw insights into who sits where, for how long and what their expectation is for returning to the office. Is your space big enough? Is it too big? Is the layout working for your employees? Are your employees traveling too far to the office? What does the headcount growth forecast look like and how will it affect my office requirements? What would a hybrid work model look like? These are questions we can answer using quality resources that produce reliable data.
Lease-related data like critical dates and upcoming lease expirations can help us have proactive discussions with our clients about their future and how using occupancy and HR data can help fortify those decisions. Occupancy data driven through workplace software and badge readers can tell the story of attendance trends and popular seating or collaboration areas. From an employee growth standpoint, HR data can assist our planning needs and equip us with data points regarding where our employees are commuting from and if the location is working for the team and key stakeholders. As we plan to transition back into the office post-COVID, extracting and analyzing the right data from internal and external resources will be extremely important in building the right strategies to retain current employees and attract new talent.
We Have the Data, Now What?
Collecting data is crucial, but continuing to track, interpret and analyze that data is just as significant. By collecting data frequently, findings become more compelling, and help to determine trends that will indicate what the future holds. It is a practice in being more proactive and educated. Some companies rely on complex modeling and trend analysis to get a better understanding of “What’s happening today?” and “What does the future hold?”. Others go a little further and leverage business intelligence technologies and geospatial platforms to comprehend their real estate landscape at both macro and micro levels. These models and types of software enable the data to tell the story of where we are and how we can be successful going forward, particularly regarding the return to office.
Cresa’s qualified team of data professionals are here to analyze information and help clients find meaningful insights and solutions for their return to office and developing custom hybrid work models, as well as broader real estate strategies. Reach out to Cresa to see how they can offer their expertise to uncover impactful insights for your organization.
End of Article
If you have significant questions about your current real estate strategy, it may be time for a discussion. Once we have started our conversation, we can create a strategy to look at your business operations and current space and then craft up a plan to find something that is a great fit in the area. With the current vacancies and inventory, we will work with you to get the best deal. We represent tenants ONLY, so you can feel comfortable that we are working for your business 100%. If we can help you by being your tenant broker in the DC, Maryland, or Northern Virginia area, visit my website or call me at 301-841-6542. Make sure to follow all my social efforts by clicking on the links below.
Daniel Shapiro
Commercial Tenant Broker
2 Bethesda Metro Center, Suite 900
Bethesda, MD 20814
301-842-6542
Like me on Facebook
If you have questions about the data driving the market in the greater Washington D.C. area, let’s start a conversation. I can help you analyze information about the market and develop custom hybrid work models along with real estate strategies. Contact me directly at 301-841-6542 or visit my website.
It's All About the Data: How Facts and Analysis are Driving Real Estate
June 8, 2021
Jared Kinch
Jared is responsible for developing strategies that drive value and performance through data analysis and business intelligence. As a Senior Advisor, he works hand-in-hand with our clients to develop and maintain custom analytic dashboards that allows our team to continuously track portfolio performance and highlight strategic opportunities. Jared has a strong background in strategic real estate decision support through business analytics.
Jared Kinch
Jared is responsible for developing strategies that drive value and performance through data analysis and business intelligence. As a Senior Advisor, he works hand-in-hand with our clients to develop and maintain custom analytic dashboards that allows our team to continuously track portfolio performance and highlight strategic opportunities. Jared has a strong background in strategic real estate decision support through business analytics.
Start of Article
Data in the Present Day
With a return to the office on the horizon, we need to be smarter about understanding the different types of data we have access to and what it can tell us. Publicly available data sources such as the Bureau of Labor Statistics and Census Bureau can help us gain a better understanding around labor and population trends. We can also tap into internal resources like integrated workplace management systems, HR software, badge readers and employee surveys, and draw insights into who sits where, for how long and what their expectation is for returning to the office. Is your space big enough? Is it too big? Is the layout working for your employees? Are your employees traveling too far to the office? What does the headcount growth forecast look like and how will it affect my office requirements? What would a hybrid work model look like? These are questions we can answer using quality resources that produce reliable data.
Lease-related data like critical dates and upcoming lease expirations can help us have proactive discussions with our clients about their future and how using occupancy and HR data can help fortify those decisions. Occupancy data driven through workplace software and badge readers can tell the story of attendance trends and popular seating or collaboration areas. From an employee growth standpoint, HR data can assist our planning needs and equip us with data points regarding where our employees are commuting from and if the location is working for the team and key stakeholders. As we plan to transition back into the office post-COVID, extracting and analyzing the right data from internal and external resources will be extremely important in building the right strategies to retain current employees and attract new talent.
We Have the Data, Now What?
Collecting data is crucial, but continuing to track, interpret and analyze that data is just as significant. By collecting data frequently, findings become more compelling, and help to determine trends that will indicate what the future holds. It is a practice in being more proactive and educated. Some companies rely on complex modeling and trend analysis to get a better understanding of “What’s happening today?” and “What does the future hold?”. Others go a little further and leverage business intelligence technologies and geospatial platforms to comprehend their real estate landscape at both macro and micro levels. These models and types of software enable the data to tell the story of where we are and how we can be successful going forward, particularly regarding the return to office.
Cresa’s qualified team of data professionals are here to analyze information and help clients find meaningful insights and solutions for their return to office and developing custom hybrid work models, as well as broader real estate strategies. Reach out to Cresa to see how they can offer their expertise to uncover impactful insights for your organization.
End of Article
If you have significant questions about your current real estate strategy, it may be time for a discussion. Once we have started our conversation, we can create a strategy to look at your business operations and current space and then craft up a plan to find something that is a great fit in the area. With the current vacancies and inventory, we will work with you to get the best deal. We represent tenants ONLY, so you can feel comfortable that we are working for your business 100%. If we can help you by being your tenant broker in the DC, Maryland, or Northern Virginia area, visit my website or call me at 301-841-6542. Make sure to follow all my social efforts by clicking on the links below.
I specialize in providing comprehensive real estate services,
exclusively representing corporate tenants on all commercial real estate needs.
Commercial Tenant Broker
2 Bethesda Metro Center, Suite 900
Bethesda, MD 20814
301-842-6542
Follow me on Twitter
Follow me on LinkedIn
Follow me on Instagram
Visit my Website
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