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Developers can make smarter leasing decisions by tapping into the smartphone data of their most profitable customers. CBRE, JLL and other firms are incorporating such mass mobile data into their leasing strategies for landlord and retailer clients alike.
“We’re taking the objectivity out of data,” said Andrew Poncher, a vice president in CBRE’s retail division, speaking to Real Estate Weekly. “We’re creating accurate trade areas using data that is as recent as a handful of days ago [and] that tells us where potential customers are coming from, where they’re going and the types of stores they like to visit.”
Third parties will aggregate smartphone data, parse it and then license it to such companies as CBRE, which late last year incorporated what it thus received into a location-services platform it calls Dimension.
On its own, such information is of little use, but when plugged into a mapping system and catalog of population density and income figures, it can furnish great insights into a given market, experts say.
JLL developed its own mass-mobile-data program, called PinPoint, which employs geofencing to capture anonymous mobile information.
By Brannon Boswell
Executive Editor, Commerce + Communities Today
