Keep up-to-date on Projects in Every Stage of Development
In addition to our core property database, Reis develops and maintains a new construction database that identifies and monitors projects that are being added to our covered markets.
Detailed tracking of the supply side of the commercial real estate market is critical to projecting performance changes at the market and submarket levels.
This database is updated weekly and reports relevant information such as project size, property type, location, and developer contact information for projects that are planned, proposed, under construction, and recently completed.
The Construction Comps tool allows a user to identify planned, proposed, under construction, and recently completed projects within user-specified parameters, such as geographical radius, project size, and expected completion date.
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 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.