NEW YORK CITY—Though industry technology is still just emerging, there's no shortage of interest in the subject.
About 400 people attended the third annual CRE// Tech Intersect event in Midtown Thursday night, where over 60 firms—providing everything from sophisticated building management programs, matchmaking services for property buyers and sellers and much more—showcased their wares.
“CRE technology is about promoting a conversation on technology changing the industry,” said Pierce Neinken, founder of the event and former West region solutions director for CBRE.
GlobeSt.com met with several firms providing interesting tools and services likely to catch on in the future. Among them was Reonomy, RealConnex and TenantRex.
“We help people find the needles in the haystacks,” declared Charles Oshman, founder and VP of research at reonomy. The firm's site, reonomy.com, provides scores of research on properties, submarkets and more for brokers, investors and lenders, allowing buyers to conduct due diligence “in hours, not days.”
RealConnex is an “opportunities marketplace for the entire ecosystem of real estate,” chief institutional revenue officer Joseph Stecher told GlobeSt.com. The site, RealConnex.com, works to help—and connect—developers, sponsors, owners, investors, lenders, service providers, brokers and designers, among other populations.
Meanwhile, TenantRex, which can be found at TenantRex.com, is designed to offer up extensive market intelligence to commercial real estate brokers. The tool can break information down by average asking rents of a property, submarket trends and much more.
Several trends are driving heightened interest in technology, Neinken said.
“Cloud computing is becoming more commonplace, the increased number of millenials in the workforce, who expect technology, and an increased amount of capital being invested in tech from many sources, including real estate owners. This is the year of Series B funding.”
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
