DTZ, CoreNet Global Establish Multi-Year Benchmarking Relationship
- Apr 15, 2015
DTZ is taking its commercial real estate services up a notch. The firm has joined forces with CoreNet Global, a leading professional association for corporate real estate executives, to integrate CoreNet’s BenchCoRE technology-based benchmarking tool into DTZ’s long list of service offerings.
“Clients have been asking for this all the time,” David Kamen, head of DTZ’s Americas Strategic Consulting team told Commercial Property Executive. “BenchCoRE is a completely unbiased and very well-balanced resource; it’s really a unique situation. “
BenchCoRE tracks corporate real estate data, providing reports on cost, space utilization and portfolio mix, with the option of selecting any combination of industry, geography, asset type, occupancy status, ownership type–and the list goes on. The information in BenchCoRE’s database is confidential and validated. “It’s also totally objective. In a normal benchmarking scenario, you don’t have that objectivity,” Kamen added.
Presently, 40 companies participate in the BenchCoRE database, covering 120 million square feet of space and 3,600 locations around the world. With CoreNet’s proprietary definitions and algorithms, all BenchCoRE data is standardized and provides actionable peer-to-peer comparisons. DTZ offers BenchCoRE along with its Portfolio Analytic technologies and Global Occupier Metrics toolset.
“This is a very strong objective platform to launch an internal initiative or project,” added Kamen. “When real estate people bring up projects that have potentially significant impact on a company, a strong way to start off is to bring relevance, and validating your metrics by your competitors’ and benchmarking is a good way to do it. This benchmark tool is the best thing that’s out there.”
However, with the CoreNet partnership to incorporate BenchCoRE into its service offerings, DTZ is doing more than just answering a loud cry from clients. “The key is, this is what clients are asking for but on the other side, it proactively gives to clients who may not be at a point where they need benchmarking for initiatives,” Kamen concluded. “If there’s no major initiative on the way, you still have access to this tool; it’s still good for general reporting on day-to-day business. It’s still good to have.”