Macerich Accelerates Short-Term Retail Leasing With Automation
The Company: Macerich
Macerich is a leading choice for one-of-a-kind retail and mixed-use properties across major desirable commercial real estate (CRE) clusters. Its Class A, market-dominant properties are shaping the future of real estate with an innovative mix of brands, experiences and uses — all while championing sustainability. Consistently ahead of the curve, Macerich is now evolving its leasing and marketing processes with Yardi and the dynamic CRE solutions provided by CommercialEdge.
The Challenge: Long Deal Cycles for Short-Term Leases
In the era of short-term contracts and careful tenant consideration, no lease is too small or too short to be taken advantage of. Especially as larger tenants take more time and resources to convert, spaces suited for short-term arrangements can become an invaluable source of income.
However, spaces primed for smaller entrepreneurial clients must also be promoted quickly and efficiently, as well as increasingly online — a daunting task when professionals have to manually manage listings both on property websites and online marketplaces.
The Solution: Bringing CRE Into the E-Commerce Era
In collaboration with Yardi and CommercialEdge, Macerich developed QuikSpace, a dynamic, short-term retail solution that accelerates and simplifies the leasing process end-to-end.
“Yardi’s CommercialEdge was essential to powering QuikSpace — Macerich’s new digital platform — for frictionless, short-term retail leasing. CommercialEdge Marketing provided a highly user-friendly way for us to showcase our available space online, which supports our business goals of converting more prospects into tenants for our portfolio of market-leading retail and mixed-use properties.”Aaron M. Spector, Assistant Vice President, Specialty Leasing, Macerich
For Macerich, the powerful listing management application powered by CommercialEdge Marketing streamlines the entire lead lifecycle. Essentially, the platform enables them to manage and update all of their listings in one place and publish them on branded property websites, top CRE marketplaces and the powerful CommercialEdge Listing Network — all with just the push of a button. As a result, potential tenants can quickly asses properties by touring them online, while Macerich can promote spaces with almost zero effort on their side.
The Story: From Manual Listings to Streamlined Marketing
Centralizing and streamlining listings with dynamic marketing
By integrating CommercialEdge Marketing with QuikSpace, Macerich can now create and manage all its listings from one single solution. The platform centralizes all short-term retail spaces in one place so brokers can essentially publish and unpublish them both on property websites, as well as across the web, through one connected platform.
Courtesy of Macerich
“Owners can create a central repository for property listing data that connects with everywhere you would want that ad to be listed,” said Turner Levinson, senior account executive with Yardi. Moreover, the dedicated marketing team at CommercialEdge ensures that the QuikSpace web application is branded, user-friendly and SEO-optimized right out of the box.
This time-saving system actively reduces the deal cycle while saving productive time in one go. Furthermore, because QuikSpace seamlessly connects with the Yardi property management software suite, Macerich can automate its advertising even further: CommercialEdge Marketing uploads and removes CRE spaces across the web based on their availability in Yardi Voyager — with no manual effort required.
Leveraging a robust syndication network with one click
The CommercialEdge Listing Network and its strategic syndication partnerships ensure that CRE firms get all of the coverage they need to close more and better leads: With just one click, brokers can publish and unpublish CRE spaces on a rapidly expanding network that includes five top marketplaces which rank on the first page of Google and produce over 300K qualified leads per year. At the same time, professionals can simultaneously syndicate listings to the top CRE internet services outside of the CommercialEdge Listing Network, as well.
The CommercialEdge stack enables CRE teams to publish unlimited spaces through the in-house network and outside marketplaces. Coupled with a dynamic add-on feature that generates branded property websites, the open and all-in-one CRE marketing platform has the power to boost occupancy across markets and asset classes.
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