dotted, a commercial real estate proptech SaaS platform for asset management and rental transactions, announced Tuesday it is launching new rental workflow technology for retail owners.
The Dallas-based startup’s retail platform is designed to provide asset managers and their rental teams with retail demand-specific data, visualizations and processes, according to a release from the society.
Dottid Retail is supposed to provide owners and managers with easier access to building data. As retail stores demand more flexible rental terms due to the evolving nature of the asset class – in large part due to pandemic disruption and the rise of e-commerce – Dottid is following these details throughout contract negotiations, including during tenant occupancy, according to the company statement.
“We want to enable our customers to capture as much data as possible about their buildings,” said Kyle waldrep, CEO and founder of Dottid. “This is really what I call activation data, because it allows the teams who own these buildings to create a better synergy between their transactions, which ultimately generates revenue for the owner.”
Dottid’s retail platform and its analytics team leverage store owner data to help manage their customers’ business and real estate transactions throughout the rental cycle, Waldrep said. “That’s what we wanted to put in place and that’s what we did, retail specific with this release.”
Dottid sees the retail industry looking more than ever for innovation and growth to move the asset class forward after the impact of COVID. A record 12,200 retail stores closed last year, and this trend has accelerated due to the shift to e-commerce.
However, the tech company sees the return to retail of brick and mortar, fueled by a return to the office and school, as well as the general desire of consumers to return to dining, shopping and entertainment in person. . Retail sales grew 0.7% per month in August, according to United States Census Bureau.
Realizing that the retail industry was in a particularly precarious situation as the pandemic entered, Dottid began planning its retail platform for the first quarter of 2020, Waldrep said. However, in 2021, “we have seen demand from retail customers increase and be really driven by an increase in retail sales and retail productivity, consistent with the return of the market as a whole. “
Launched in January 2020, Dottid globally proclaims itself the first and only platform to track every moment of a rental transaction – from inventory management to supply, negotiation, leasehold improvements and occupancy.
Ahead of the launch of Dottid Retail, Dottid Industrial, a customized extension of Dottid’s original offering, was introduced earlier this year, designed with new features that the company says will bring all parties together and generate business value. for an often underserved asset class.