LONG BEACH, CA-Many digital solutions designed to help commercial real estate transactions get done more smoothly are coming to the fore. One such solution is from locally based F9Analytics, which recently released its mobile leasing tool for tenants, landlords and leasing brokers. GlobeSt.com spoke with the firm's founder and CEO John Cona about how the technology works and how it can help streamline the leasing process for all parties involved.
GlobeSt.com: How can a new mobile leasing technology like your help with leasing?
John Cona: It's quite simple because leases are ultimately negotiated and transacted upon some financial metrics. The question really is, “How does your leasing team negotiate and transact on these metrics from anywhere or get approval within minutes?” For example, several tenants are in demand for the space, but how can my leasing team quickly compare them on an effective rent or net present value basis when they are in the field with the tenant showing space? With our Lease Comparison App, anyone leasing space will have those answers in seconds.
GlobeSt.com: Who would be using this lease technology platform, and what are the top solutions it provides?
J.C.: The leasing technology is broadly developed for anyone leasing space: leasing agents, landlords and tenants or companies. The platform was developed to provide leasing intelligence to everyone in the leasing continuum. For example, leasing agents might use the mobile version to calculate effective rents in the field, whereas an asset manager might utilize the full desktop version to generate an Excel lease cash flow in seconds, or a tenant might use our patent-pending method to properly project and compare two leases with varying assumptions where their actual lease terms (i.e., five-year term vs. seven-year term) are not equal. Additionally, we have made it easy to switch between “lease perspectives” instantly. For example, if you wanted to evaluate the lease from the “landlord perspective,” you would select “landlord,” but on the other hand, if you needed to evaluate the “tenant perspective” quickly in a difficult negotiation, you could do that in a single click.
GlobeSt.com: What is a cloud-based technology and why should commercial real estate executives care?
J.C.: Cloud-based technology is the future. Just like installing programs on a desktop, the days of installing apps on a phone or mobile device will soon be over. The power of HTML5, which is the new web core standard, coupled with 4G wireless or a Wi-Fi connection will change most of the landscape. All you really need today is a smartphone that comes 4G-ready or any other wireless connection, and you can compute. For example, we developed our Lease Comparison App on HTML5 so it can run on all mobile devices and desktops interchangeably.
GlobeSt.com: What else is interesting about this leasing technology?
J.C.: Take our funny challenge. We have made it possible to clock your time at calculating a “1,000-year discounted cash flow monthly” (or, just calculate a normal lease—your choice) from your mobile phone or desktop. Obviously, if we all had a lease this long, we wouldn't need this app, but it does show the power and possibilities for anyone leasing space who needs the power to negotiate and transact anywhere.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
