Fueling Rapid Growth and Accelerating Leasing with VTS

REGENCY PROPERTIES

Regency Properties is a leader in locating, upgrading, and

revitalizing retail assets in markets that serve as shopping,

government, manufacturing, and agricultural hubs.

With properties in 18 states across the U.S., the firm has

aggressive growth goals – it is planning to expand from

6.3 million square feet to 10 million in the next three years.

Technology is huge for any company that’s trying to scale. You can keep throwing human capital at any problem, but when you’re truly effective is when you leverage that technology so you can have 40 people on staff versus 60.”

“

Jim Wittman, Chief Operating Officer & Senior Vice PresidentRegency Properties

Regency Properties is a privately held retail real estate company focused on small markets where it can hold the dominant asset. With aggressive growth targets, the leadership team is a major advocate for digital innovation and believes that the key to scaling is to optimize the leasing process with effective technology.

Regency began looking for a technology solution when it became too difficult to provide capital investors with up-to-date information while on capital raising trips. The team wanted a solution that would enable them to generate real-time reports with insight into deal flow and capital requirements in just a few clicks. What they didn’t realize until they started using with VTS was just how dramatically their leasing team’s productivity would increase with a leasing and asset management platform.

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VTS PRODUCT TYPE

VTS Core, VTS Deal Approvals

ASSET TYPE

Retail

PORTFOLIO SIZE

6.3M SF

REGIONS

AL, FL, GA, IN, IA, KY, LA, MI, MN, MS, MO, NC, OH, SC, UT, VA, WV, WI

BROKER MODEL

Third-Party Brokers & Internal Leasing Team

WHY REGENCY PROPERTIES NEEDED TO TRANSFORM ITS APPROACH TO LEASING & ASSET MANAGEMENTChallenges & Roadblocks

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DIFFICULTY COMPILING INFORMATION FOR INVESTORS

Given Regency’s growth, its executive team was constantly going on capital raising trips for weeks at a time, and its investors expected real-time information on deal flow and capital requirements. A last minute team meeting to get status updates just wasn’t working.

INEFFICIENT LEASING PROCESS

Without a central system to manage leasing activity and critical budget metrics, the deal process was delayed. Often, during an initial call a prospect would ask a question the leasing agent couldn’t answer, and a follow-up would be scheduled. Frequently this never took place as the prospect had found a better option in the meantime.

LACK OF PORTFOLIO VISIBILITY

Regency Properties had experienced leasing agents with a wealth of deal context and experience, but no effective way to capture it so that prior learnings could be leveraged on new deals. As a result, agents were constantly reinventing the wheel, holding up deal cycles.

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Jim Wittman, Chief Operating Officer & Senior Vice PresidentRegency Properties

Case Study: Regency Properties

When you take VTS and put it on a property, we ask ourselves, does that help us make another deal or make another deal a month faster? And the answer is absolutely yes. This system pays for itself every single year just by being able to move those deals quicker.”

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TRANSFORMING THE LEASING AND ASSET MANAGEMENT PROCESS AT REGENCY PROPERTIES

ACCELERATED TRANSACTION TIMES

With VTS, Regency’s agents have

critical information at their fingertips,

enabling them to answer questions

from prospects on the first call and

calculate the key metrics (such as IRR)

needed to understand whether a deal

will work. Now agents can proceed

with the right deals quickly, reducing

the number of days it takes to convert

a proposal to a lease from 132.8 to 59.8.

55%↓ in average days from proposal

to executed lease

Using VTS, Regency Properties is now able to instantly generate updates for investors and has increased portfolio visibility and accelerated transaction speeds.

4 hrssaved a week by the CEO

and COO

With VTS, Regency’s executive team is

able to instantly generate real-time

reports for investors containing

information about deal flow and capital

requirements, completely removing the

last minute rush to compile updates.

This is saving the team, the CEO and

COO in particular, hours of time per

week that can now be spent focusing

on strategic growth initiatives.

INSTANT, REAL-TIME REPORTS FOR INVESTORS

0.9 daysaverage time for updates

to be entered into VTS

By providing real-time visibility into the

progression of every deal, VTS enables

Regency’s more experienced agents to

share deal context and learnings with

newer staff – expediting the deal

process. New agents can also mine

VTS for past deal information, ensuring

they’re more productive from day one.

REAL-TIME PORTFOLIO VISIBILITY

Are you ready to transform your leasing and asset management processes? Discover how, like Regency Properties, you can generate real-time reports for investors, increase portfolio visibility, and accelerate lease transaction speed with VTS’ leasing and asset management software.

BOOK A DEMO

VTS is the commercial real estate industry’s leading leasing and asset management platform. Landlords use VTS to maximize portfolio performance by transforming their leasing and asset management process, enabling them to acquire the right tenants faster, sign the right deals at the best economics, and optimize the renewal process – reducing costly downtime.

Over 8 billion square feet is managed on VTS by a user base exceeding 28,000. VTS’ clients include some of the world’s most forward-thinking landlords, investors and brokers, such as Beacon Capital, Blackstone, LaSalle Investment Management, Hines, Boston Properties, JLL and CBRE. To learn more about how these clients are using VTS to drive portfolio performance, profitability and efficiency, visit www.vts.com and request a demo.

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