Track: Real Estate
Redefining the Commercial Real Estate Process: How One Commercial Investment Fund Is Using GIS
Doug BaumgartnerSummary Topic: Applied business geographics/enterprisewide integration/data sources/warehousing Purpose: To show how GIS can be effectively used in a proactive manner as a decision support system for investing in raw land throughout the country Audience: The intended audience would be anyone who has an interest in applied GIS regardless of their industry sector. Overview: Currently we use ArcView GIS to track aggressively expanding multisite users (MSUs) (defined as any user needing multiple sites [i.e., Lowe's, The Home Depot, Target, Hampton Inn, office developers, multifamily developers, etc.]), research their locational requirements (90 percent of which are geographic), integrate that in our GIS, and issue areas, locations, and intersections of high suitability to our offices throughout the southeast and Texas. They will then apply the "high touch" aspect of real estate site selection (determining access, visibility, zoning, and other entitlement processes). If the site meets our investment criteria we will then purchase it and market it to the intended MSU aiding them in their expansion plans. The added value comes to play when we can deliver a developable site that meets all locational, physical, and demographic requirements (has been subdivided or assembled to meet size requirements and has been through the rezoning process, graded, permitted, etc.) to an MSU that is ready to start construction. The data sources are broad and the applications are endless. Short-term plans are to bring the power of GIS out of the back room and integrate it with our licensed partners throughout the field who are applying the "high touch." MapObjects is a good way to bridge that gap between low-tech users and real estate information. GIS information is integrated within Lotus Notes where we store all project information concerning our sites. The concept has caught on tremendously with MSUs as well as institutional investors, as our company has grown from $40 million in transactions in 1996 to over $117 million so far in 1997. We have an aggressive expansion plan for the rest of the nation and are currently expanding rapidly throughout the southeast and Texas, adding offices and employees every month. www.realticorp.com/
Doug Baumgartner
RealtiCorp
252 South Pleasantburg Dr.
Greenville, SC 29607-2547
USA
Telephone: 864-271-4700 x25
Fax: 864-421-0740
E-mail: dougb@realticorp.com