Top Five Publicly Available Resources for Building a CRE Investment Thesis
While commercial real estate investors often seek proprietary data or deals, some of the best resources to build a good investment thesis can be found through public resources, including some that come from private companies like Uber and Yelp. There are hundreds of resources to comb through, but we’ve picked our five favorites.
Uber Open Trip
While this is not a comprehensive database of all Uber Trips, it gives significant visibility into Uber activity in several major cities across the U.S. and abroad.
The ability to look at both average travel times and speed, provides useful insights into real-time data transit corridors and the corresponding challenges.
Questions you can answer with Uber Open Trip data: How easy is it to get to my location? How far are my Office tenants traveling to get here? How far are my multifamily tenants traveling to work every day?
Whether the destination is an urban or a suburban office, public transit is one of the most important factors for commercial real estate investors.
All Transit is a fantastic complement to Uber data, consisting of stop, route and frequency information for 902 public transit agencies in regions with populations greater than 100,000. It provides an objective point of comparison for local transit across every neighborhood in the United States.
Questions you can answer with All Transit data: Can people get to my location easily? Is there a novel competitive advantage I can derive based on this location? For example, is my asset near an express bus or subway stop?
LEED Certifications and Wired Score
While there are many things a potential office tenant could value, sometimes it’s often the simple things they are interested in: clean, energy efficient buildings and fast and reliable internet. To that end, public resources on LEED certifications and Wired Score can give you exactly that. LEED certifications are generally bestowed to newer, energy efficient and higher tech buildings, while a Wired Score seal of approval implies high quality internet. The combination of these certifications implies a Class A property.
Questions you can answer with LEED Certifications and/or Wired Score data: Where is the greatest concentration of offices that meet these standards? Is there a suburban office pocket where these certifications are growing? Should I modernize my asset to meet these certifications?
Having an asset in a walkable neighborhood is perhaps one of the most important factors in Urban Multifamily and Office real estate.
WalkScore provides a deep-dive into every neighborhood across every walkability facet: accessibility, culture, bars/shops/restaurants etc.
Questions you can answer with WalkScore data: Is this a desirable location? What makes this neighborhood great? Do we see a change happening?
With the rise of social media and review sites over the past decade, there is an inordinate amount of user-generated content around the quality, quantity, and price in products and services sold in local bars, shops, and restaurants. While some view Yelp as a destination for complaints, many of Yelp’s reviews provide insight and personal experience with a business. In addition to reviews, Yelp has a section dedicated to “talking” and Q&A about what’s happening locally.
Questions you can answer with Yelp content: What types of businesses are new and trending in the area? Where is there a need or an opportunity? What is returned when the following keywords are searched: hip, matcha latte, brunch, yoga studio?
These are just a few examples of widely available public resources that can provide both a quick and simple way to evaluate neighborhoods, as well as present opportunities for making commercial real estate investments.
At 7Park Data, we also know the value of smart, actionable, proprietary data and the impact it can have on your investments. Using multiple public data sources, alternative data sources, and your own data, can be critical to refining an investment thesis. To learn more about how we can help, fill out the form below.
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