Reis expands sales transaction coverage
Reis, Inc., a provider of commercial real estate market information and analytical tools, announced an expansion of its commercial property transaction database by covering property sales transactions in an additional 90 markets for office, apartment and retail properties, raising the total number of metros covered to 172.
For each of the new markets, the company offers its popular property-level Sales Comparables, or “sales comps,” report, which contains information that is critical to understanding a sale, such as price, closing date, buyer, seller and, where available, financing terms.
Clients are able to search the sales comps database to identify transactions that are relevant to their investment decisions.
This advance comes as investors continue to monitor the steep drop off in commercial property sale volume and prices.
“Particularly now, as transaction volume remains low, it is important to take as broad a view as possible when attempting to gauge the health of the nation’s market for commercial property sales,” said Reis’s director of research, Dr. Victor Calanog.
Today’s announcement follows the Company’s expansion of retail coverage to a total of 140 markets this year, the expansion of office coverage to a total of 132 markets last year, the expansion of apartment coverage to a total of 169 markets in 2007, and the release of several new analytical modules such as Value Alert and an enhanced Single Property Valuation tool.
“Our commitment to our clients is evident in the fact that throughout this downturn we have never stopped trying to offer more analytical options, both in terms of data and tools,” said Reis CO0, Bill Sander. “We are committed to maintaining Reis SE as the preferred information product for commercial real estate professionals.”
Reis’s primary business is providing commercial real estate market information and analytical tools for its customers, through its Reis Services subsidiary. Reis Services, including its predecessors, was founded in 1980.
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