Time is money. That pragmatic advice offered by Benjamin Franklin in 1748 is one of the undisputed truisms of today's commercial real estate industry.
This is true particularly of immediate access to solid market research that is vital to broker and client alike in the decision-making for deals of any size, according to George Gramm, vice president of client services for Grubb & Ellis|BRE Commercial.
Gramm's responsibilities for the region's largest independently owned commercial real estate brokerage firm include comprehensive research functions that provide the company's brokers -- and their clients -- with strategic research for all commercial real estate markets, including industrial, investment, multi-family, office and retail.
Grubb & Ellis|BRE Commercial's market research department of six professionals monitors the commercial real estate markets of San Diego and southern Riverside counties each day. Their collection of data on lease and sale comparables, vacancies, absorption, new construction, demographics, etc., enable them to generate reports and analyses for Grubb & Ellis|BRE brokers literally upon request.
In addition, they constantly update the company's proprietary databases of commercial property information, and produce quarterly reports on the region's major commercial market types as well as an annual analytic forecast.
Gramm and his Grubb & Ellis|BRE broker colleagues know that even the smallest client project demands immediate access to the most timely, accurate and objective research in order to make wise decisions. Because every client's goals, objectives and circumstances are unique, the Grubb & Ellis|BRE Commercial market research department emphasizes the presentation of thorough, valid market research that the broker and client then analyze in terms of the client's needs.
Third only to validity and thoroughness, Gramm maintains, is the immediacy of research accessibility.
"The technology platform is key," he said. "We employ an Internet-based system that enables us to provide the data requested almost instantaneously to the inquiring broker. We are working with an intranet structure in conjunction with Grubb & Ellis corporate that will provide brokers and their clients with even more data at greater speed."
As technology and client sophistication evolve, so will the demand for immediacy and scope of commercial real estate data, Gramm said. They are closely related trends that have been evolving for some time.
But perhaps the most profound near-term development for commercial real estate has nothing to do with technology. Indeed, the next major achievement could be the adoption of standard definitions for commercial real estate terms by brokerages, third-party resources, trade media and professional associations throughout North America.
"There's never been agreement on specific definitions of terms in our industry, thus there can be countless definitions," Gramm said. "I think it's very important that major associations such as the National Association of Industrial and Office Properties have responded and are working to standardize industry terms."
For more information about Grubb & Ellis|BRE Commercial, visit www.brecommercial.com.
Submitted by Grubb & Ellis|BRE Commercial