Hightower Announces Partnership with CompStak
A powerful integration and partnership between two leading commercial real estate technologies.
NEW YORK CITY (April 19, 2016) — Hightower, the leading leasing management platform for the commercial real estate industry, today announced a data integration with CompStak®. The partnership will enable brokers and owners instant access to CompStak’s commercial lease comp information within the Hightower platform.
“We are extremely excited to forge this relationship with CompStak,” said Brandon Weber, CEO of Hightower. “CompStak’s crowdsourced lease comps have revolutionized how brokers and owners evaluate market rates in over 18 major markets. We believe this partnership will provide immense value for our customers by enabling Hightower to deliver real-time competitive set benchmarking and market analytics exactly where our customers need it, in their leasing management platform.”
The new product functionality will allow Hightower customers to track their leasing performance against a competitive set of assets in real-time, as well as compare the lease deals they're making to complete lease comps in the market.
The integration demonstrates how two leading CRE tech companies can partner to unlock a powerful new scenario for their customers.
“As we’ve gotten to know Hightower, we’ve seen how critical the leasing management platform is to the daily workflow or leasing teams and asset managers,” said Michael Mandel, CEO of CompStak. “Leasing management and real time market data go hand-in-hand, and we’re thrilled to work with Hightower to provide an end to end solution for our customers. Partnerships with industry leaders allow CompStak to magnify the power of our data and broaden our reach in the industry - it’s truly a win-win.”
Customers are excited about the partnership news as well. “Hightower and CompStak are both revolutionizing the world of commercial real estate,” said Sara Shank, Head of Portfolio Management at Beacon Capital Partners. “Being able to see competitive benchmarks within my leasing management platform just makes sense. We’ll now be able to make even more confident leasing decisions.”
The new functionality will be available in the Hightower platform in Q2 2016. The two companies plan to innovate quickly to offer additional capabilities through the year.
Hightower is the leading end-to-end leasing management platform for the commercial real estate industry. Hightower helps owners and brokers save time, improve visibility, and reduce risk in their portfolio. Founded in 2013, Hightower has thousands of customers from around the world using its platform, with enterprise customers including Vornado, CBRE, NGKF, Beacon Capital, Shorenstein and more.
CompStak collects, verifies and standardizes commercial real estate lease comparables from a membership of thousands of agents, brokers, valuers, appraisers, rent review consultants, and researchers who trade their data through CompStak Exchange. CompStak then delivers the full database of lease comps to lenders, owners and investors through CompStak On Demand and CompStak Enterprise. Learn more at www.compstak.com.