Commercial real estate’s technology stack has spread to include areas that just a few years ago would have seemed unthinkable, at least in this space. New features and functions, not to mention advanced computing, can be found not only where the consumer-facing applications are most in use but also in the back end processes that run most CRE operations no matter the sector. Developing these products requires more than just knowledge of, say, machine learning or predictive analytics. At the same time, the men and women who build technology for commercial real estate need to have an in-depth under-standing of the problems the technology needs to solve. They need to be knowledgeable about both subject domains and that mix is not always easy to find.
MARK SIGAL One of Mark Sigal’s favorite sayings is that a crisis is a terrible thing to waste, and so when the pandemic hit, he responded by working to provide better information and actionable intelligence in the form of normalized, standardized data that is tracked, trended and benchmarked over time to those making career-defining decisions in real-time. Sigal serves as CEO of Datex Property Solutions, which has built a number of ground-breaking tools to help landlords navigate the earliest days of the pandemic, including a rent relief agreement tracking system, which was critical since, at one point, as many as 60% of the tenants at shopping centers were not paying rent timely. Similarly, the compa-ny built rent relief agreement payback tracking tools and simple controls to monitor store status as it became clear that the pandemic would impact certain geographies and certain merchant categories differently. Under Sigal’s leadership, Datex Property Solutions offers a portfolio management platform that integrates with portfolio owners’ MRI or Yardi property management and accounting data to improve operations for their whole team. Datex Property Solutions’ clients include REITs, owner-investors and third-party fee managers. Sigal is responsible for overseeing the growth of the company, managing client relationships, product delivery and expanding the capabilities of the platform. Da-tex’s Tenant Track has been licensed by ICSC, major banks and embraced by hundreds of portfolio owners, brokerage firms and four branches of the Federal Reserve. The data and related benchmarks in Tenant Track were cited hundreds of times during the course of COVID-19’s multiple waves, with numerous stories in major media outlets. Sigal has been an active member of ICSC for more than 30 years and works closely with ICSC’s research team on the retail metrics that Datex Property Solutions provides under license to ICSC.
Full GlobeSt Tech Influencers list can be viewed here https://www.globest.com/2023/02/03/tech-influencers/
By Erika Morphy for GlobeSt.com