CompStak, the nationwide provider of commercial real estate lease comps, sales data, and property information, has today announced a strategic partnership with WiredScore, the global rating platform for digital connectivity in commercial real estate.
Commercial real estate professionals who rely on CompStak’s comprehensive transaction data can now benefit from viewing any US property’s Wired Certification level directly on CompStak’s Enterprise and Exchange platforms at no additional cost. Wired Certification highlights commercial office buildings that are providing the most advanced and resilient digital infrastructure in the market.
As part of the integration, Wired Certification levels (Platinum, Gold, Silver, and Certified) and key details from custom Wired Certification fact sheets will flow directly into CompStak’s property reports for all users to see. These reports include insight into the quality and type of digital infrastructure as well as the carriers that serve the property.
With this new insight, CompStak’s users can instantly measure whether a property is positioned for a rapidly evolving, tech-forward workforce, compare its connectivity to its peers, and gain insight into whether the building ownership has taken steps to maintain asset value by investing in digital connectivity.
“Our members and clients rely on CompStak to track lease and sales transactions, and to leverage that data to underwrite investments and loans on commercial real estate assets. Key to understanding the value of a property is combining this transaction data with robust property-level data. The digital connectivity of an office building is a key driver of its value, and we’re thrilled to be able to provide this insight to our members and clients by presenting WiredScore’s Certifications, the industry standard in connectivity data,” Michael Mandel, Co-Founder and CEO of CompStak, said.
The partnership is a natural fit for the two companies, which are both focused on providing transparency into property data and value.
“We are thrilled to partner with CompStak and make Wired Certification data instantly available to the platform’s tens of thousands of users across the US. With increased visibility of Wired Certification on CompStak’s platforms, we are putting a spotlight on the importance of digital connectivity in office properties. By delivering accurate and transparent data about a building’s digital capacity, we can support owners and investors who have taken measures to prevent digital obsolescence and grow asset value,” Arie Barendrecht, CEO & Founder of WiredScore, said.
This announcement follows several recent major announcements by CompStak, including the launch of its new Analytics platform, its expansion into even the smallest markets in the US, its earlier strategic partnerships with industry leaders such as Moody’s Analytics and Dealpath, and its recent first place showing in the prestigious Real Estate Tech Awards (RETAS.)
“The year 2019 is going to be big for CompStak. Partnering with our long time friends at WiredScore is a terrific way to fulfill our mission of creating transparency in commercial real estate by making the world’s CRE data more accessible and useful,” Mandel said.
WiredScore is the organization behind Wired Certification, the internationally recognized digital connectivity rating system for commercial real estate that helps landlords design and promote their buildings' great digital connectivity to tenants. Since launching in 2013, more than 460MM square feet of commercial real estate in more than 1,700 buildings has been Wired Certified globally including buildings owned by premier landlords such as Blackstone, Brookfield, and Hines.
CompStak creates transparency in commercial real estate markets by gathering information that is hard to find, difficult to compile, or otherwise unavailable. CompStak delivers this unmatched insight into real estate transactions to a nationwide network of members and clients, including Tishman Speyer, Wells Fargo, Vornado, Boston Properties, Equity Office Properties, and every major brokerage.