Clients: Commercial real estate professionals rely on Reis Subscriber Edition (Reis SE) to support their critical investment decisions. Whether the task is to conduct market research, underwrite a loan or equity investment, perform due diligence, or monitor a portfolio, Reis SE is the industry standard for investors and service providers in search of superior results.
Metros and Submarkets: On a quarterly basis, Reis provides updated trends and forecasts of rent, vacancy, and inventory for Apartment, Office, Retail, Warehouse/ Distribution, Flex/R&D, Self Storage and Seniors Housing properties in up to 275 metropolitan areas and more than 7,000 markets and segments.
Research Methodology: Reis's trends and forecasts are developed from property-level data collected by our team of real estate analysts during telephone interviews with building owners and managers.
Monitoring Construction Activity: Reis also maintains a staff of analysts devoted to the discovery and monitoring of new construction activity from the proposal stages through completion.
Monitoring Property Sales: Another dedicated research team captures property sales above $250,000 for the seven main sectors and for hotels, recording relevant information, such as sale prices, financing terms, and cap rates.
Web-based Delivery: All of Reis's daily, weekly, monthly, and quarterly updates are instantly accessible from any web browser, supporting our clients' critical decisions with accurate, actionable market information.
The Industry Standard: For over two decades, the nation's leading institutional lenders and equity investors have relied on Reis. In the last two years alone, Reis SE has delivered more than one million market reports to real estate professionals. Most reports are available in both presentation (PDF) and spreadsheet (XLS) formats.
Proactive Notification: Reis SE's Email Alerts feature shifts the burden of market monitoring from clients to Reis. Clients may elect to be notified of new projects coming on line, sales transactions, and market reports pertaining to particular metros or property types.
Single-source Efficiency: In an industry characterized by closely-held, fragmented, and sometimes biased information, we offer an impartial perspective supported by a standardized, transparent methodology applied consistently across all Reis markets. Reis SE dramatically reduces research and data gathering costs.
Economic Analysis: Reis's widely respected economists analyze the impact of economic and demographic trends on the regional and local demand for commercial real estate, developing multi-year baseline forecasts of rent growth, vacancy rate, new construction, and absorption. The baseline forecasts are supplemented by two additional Downside Market Scenarios that apply the effects of moderate and more severe economic downturns to commercial real estate performance at the market and submarket level. Reis's economists also conduct Quarterly Market Briefings for clients and the media, and are routinely cited in the business press.
Commentary and Analysis: Reis analysts provide written commentary and analysis to help explain quarterly findings. Long form Reis Observers are comprehensive overviews of local markets published on a rolling schedule throughout the quarter. Reis's Executive Market Summaries, published simultaneously with each quarterly data release, take the form of information-packed stories that, in the short time it takes to read them, help our subscribers master market conditions for any metropolitan area.
Of all reports offered within Reis SE, none is more popular than the Asset Advisor. Often referred to as the "Deal Book" by many Reis users, the Asset Advisor is a comprehensive report assembling all relevant market and property level data in a single presentation-quality document.
The report presents all elements of our metro and submarket reports, as well as customizable rent and sales comparables. Prior to Reis SE, such a comprehensive analysis would have required weeks to compile and cost thousands of dollars. Today, Reis SE users generate an Asset Advisor for any address in two minutes or less. This valuable document is available only to subscribing clients of Reis SE.
Asset Advisor Cover Sheet
Investor interest in Self Storage has grown with the fortunes of the multi-billion dollar sector, but reliable market and property information has remained elusive until now.
Reis, in consultation with industry experts and the Self Storage Association, has applied its time-tested property survey, market definition, and forecasting methodologies to this important CRE investment option.
The result is a set of standardized market data and submarket reports, and property level rent comps fully integrated into Reis Subscriber Edition.
If you are a current client interested in upgrading your subscription to include the new coverage, contact your account manager directly, or at 800-366-REIS (7347).
For every market and submarket across the five primary property types, Reis now offers an information-packed Executive Briefing report that quickly confers upon the reader a mastery of local supply and demand fundamentals.
Each briefing is broken out into four sections:
Metrics taken into consideration include, but are not limited to: metro composition, submarket distribution, asking rent, effective rent, vacancy, inventory levels, new construction, household formations, and employment growth.
For these and other variables, current levels and rankings are compared to long-term averages, historical rankings, forecasts, and future rankings. Special attention is given to the movements among interdependent variables such as supply, demand, and vacancy; and to the revealing relationship between asking and effective rent.
You can access these reports through the Market Reports tab, or view a sample here. If you have any further questions regarding the Executive Briefings, please do not hesitate to contact your Reis account manager.
Reliable historical trends and forecasts are the cornerstone of any accurate market analysis. There is no quicker way to get a detailed picture of supply and demand — past, present, and future — than by reviewing Reis's metro and submarket reports.
These reports contain historical, current, and forecasted rent, vacancy, and inventory; new construction and absorption; and economic and demographic trends. Metro or submarket variables are compared to the U.S. market as a whole and to the relevant geographic region.
Asking Rent Growth Rate Distribution
Submarket reports are particularly valuable because they alert investors to significant variations in performance among submarkets within a metro area.
Reis tracks over 2,500 competitive submarkets. Within a metro, submarket boundaries differ according to property type. In Los Angeles, for example, Reis publishes 70 submarkets across the five property types. Shown below is a map of the 21 office submarkets.
One factor that sets Reis's market research apart is concession information — often withheld by owners and brokers. For each competitive submarket in a metro area, Reis's submarket reports present vital concession data, including:
A fundamental transaction-support tool, Reis's rent comp reports help investors assess the performance of a property versus its peers. Users specify the location and physical characteristics of a subject property, and Reis supplies property level performance data for competitive buildings in the area. The resulting report returns property-level rents and vacancies, as well as comp group summary statistics, including concessions, operating expenses, and lease terms.
The Construction Comps tool allows a user to identify planned, proposed, and under construction projects within user-specified parameters, such as geographical radius, project size, and expected completion date. New projects, and adjustments to existing projects, are discovered and published weekly.
We track and research the latest transactions, collecting information that is critical to understanding the sale, such as price, closing date, buyer, seller, cap rates, and, where available, financing terms. Clients are able to search the sales comps database to identify transactions that are relevant to their investment decisions.
Reis's Transaction Analytics module offers a complete view of sales trends throughout the nation from 2005 onward. To generate a customized trend of maximum relevance to a particular project or portfolio, users may specify ranges of key transactional and structural characteristics, such as size, transaction price, class, and cap rate.
Comparable Group Summary Statistics
Reis analysts provide written commentary and analysis to help explain quarterly findings. Long form Reis Observers are comprehensive overviews of local markets published on a rolling schedule throughout the quarter. Reis's Executive Market Summaries, published simultaneously with each quarterly data release, take the form of information-packed stories that, in the short time it takes to read them, help our subscribers master market conditions for any metropolitan area.
In addition to our research in the office, apartment, flex/ R&D, warehouse/distribution, and self storage sectors, Reis provides unparalleled coverage of the retail market, a typically under-researched sector. We recognize that the retail sector is characterized by distinct niches— therefore, we generate separate findings for the neighborhood, community, and power center sectors. Our retail coverage assists lenders and investors in the financing, sale, and management of shopping centers by providing critical market information, such as rents, vacancy rates, absorption, new construction, sale prices, and cap rates.
The market entry of new buildings can significantly change the competitive landscape and performance expectations for any metro. Reis carefully tracks and monitors new projects from the planning stages to opening day to stabilization. These findings, published weekly, are reflected in our quarterly rent, vacancy, and inventory forecasts for markets and submarkets, and provide clients with valuable information about the pace at which newly opened buildings lease up.
Because performance may differ significantly between Class A and Class B/C buildings, Reis reports on supply, demand, rent, and vacancy rates by building class for the Apartment and Office sectors.
Average Submarket Lease Terms