As our loyal readers know, we have been publishing the most complete commercial real estate listings we could find the last Friday of every month in the Colorado Springs Construction and Commercial Real Estate Guide. These listings are provided by the Pikes Peak Commercial and Industrial Exchange, which is a division of the Pikes Peak Association of Realtors.
But every time we published the listings, we inevitably get phone calls saying “my listing is wrong” or “my property is not listed.” All we can tell them is to call their broker or call PPCIE.
I thought there had to be a better mousetrap out there. So I made some calls to colleagues at other business journals, and voila, there is a better mousetrap.
We are bringing Xceligent to town. How, you may, ask will the Xceligent data be better than what PPCIE is currently offering? The key is that the data is audited by Xceligent staff.
Xceligent is a nationwide provider of Web-based services for the commercial real estate industry. Among other products, Xceligent offers a choice of listing solutions: fully-researched Commercial Information Exchanges (CIEs) with local commercial real estate organizations and local business journals, and designed to meet the needs of the local market. It also enables brokers to control their most vital asset: their data or broker-generated exchanges that enable real estate professionals to market properties directly to possible tenants, buyers and other agents.
We have been working on this initiative behind the scenes for some time and had a roll-out reception this week at the Garden of the Gods Club for key real estate brokers and community leaders. Xceligent people have been in the market driving around finding commercial signs and doing the research to find lease terms, square feet and even number of parking spaces.
So why is the CSBJ doing this?
We report on the commercial real estate industry and believe the industry is a barometer of our economy. If we base our reporting on faulty data, this is a problem. Xceligent will allow us to run absorption reports by industry, vacancy rates by ZIP code and other reports that will allow us to provide better information to you, our readers.
The benefit to commercial brokers is the same. They will be able to run reports in real time with a few clicks of the mouse. You might be wondering what happens if a broker doesn’t choose to participate. I go back to Xceligent’s auditors in the marketplace.
Another reason we are doing this is to help the Economic Development Corp.
Mike Kazmierski and the folks at EDC will have access to this valuable information that I hope will reduce the research time for businesses interested in moving to the area.
Something like: Hi Mike, I am thinking of moving my insurance company to the Springs. I need to present a relocation plan and inventory of available 60,000 square feet Class A space to my board of directors in an hour. What can you get me?
Mike: Stand by, click, click, click. You have the report.
Insurance executive: Wow, great service, Mike, now how about a tax incentive or a break on utilities for the first year?
Mike: Uh, sorry I am going to have to get back to you on that one.
Some developers and commercial brokers that come from other markets or do extensive business in Denver consider us a kind of a sleepy commercial community. I hope with the implementation of Xceligent we can pick up the pace and get more deals done.
The Xceligent database will be available through www.csbj.com in January. Expect to hear much more on this moving forward.
If you want to talk directly to our Xceligent folks call Rich Montgomery at (877) 339-5720 or Stieg Seaward at (303) 300-8486.
Check out www.Xceligent.com for more information.
Lon Matejczyk is publisher of the Colorado Springs Business Journal. He can be reached at lon.matejczyk@csbj.com or 329-5202.