Occupier, the Real Estate Success platform for businesses, has seen retailers and tenant reps rapidly adopt its lease administration and transaction management software during Covid-19.
Retailers using Occupier during Covid-19 include Bluestone Lane Coffee, Insomnia Cookies, and franchise owners of Five Guys and Auntie Anne’s Pretzel. In a short period of time using Occupier, these companies have transformed their real estate process to increase productivity and decrease risk.
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Why retailers need to transform real their estate process:
- Manual Leasing Process: Without a single place to collaborate, teams spend considerable time compiling information from spreadsheets and emails. No workflow exists to move a deal from start to finish, putting the company at risk in tight markets. Real-time negotiation tracking helps them prioritize lease restructurings with landlords due to Covid-19.
- Limited Insight Into Lease Data: Most retailers have no clear insight into lease obligations unless someone reads a lease, or hears from a landlord. Stakeholders don’t know where to find basic information — when rent escalates, when renewal periods start, or what rent-relief rights exist. This exposes the business to unnecessary risk and slow decision making.
- Excel Broker Communication: Brokers are expected to provide detailed deal reports to the real estate and executive team. With no central location to track deals, the team spends hours scrubbing data to compile information. This wastes time and creates confusion around deal status at any point in time.
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“When stores began to shut down and we had to modify our business, we evaluated all of our software tools, and we immediately knew we needed to keep Occupier,” said Nick Stone, CEO of Bluestone. “Occupier is an essential tool for operating our business and keeping our investors informed.”
Dan Bodner, Owner of DBodner & Co, who advises high growth retailers on site selection added, “From a service provider’s perspective, Occupier makes me comfortable that I have control over a massive amount of information that is important to my clients. Occupier has been an essential tool for managing client negotiations during Covid-19.”
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