Analyzing the potential of a market is critical for retailers and the real estate professionals that help those retailers choose new locations. It’s not just about predicting whether a market has enough prospective customers. To make truly informed business decisions, retail chains and other businesses should attempt to understand….
- What competition they have in a trade area.
- Where those competitors are in relation to the sites where the retailer/other business is looking to locate.
- Whether an area is growing or shrinking in population.
- The potential impact of that growth/shrinkage.
Enter BuildCentral, provider of construction project lead data. The company collects comprehensive details about planned commercial construction across many different verticals, including commercial real estate, single family housing, multi-family housing, medical facility, hotel and lodging, demolition and recycling, global energy and mining, and grocery and retail.
A Suite of Construction Data Products to Monitor Competition and Uncover Growth Opportunities
SiteSeer users can subscribe to BuildCentral data and improve their site selection and market analysis. There are several different data solutions available, depending on a subscriber’s needs. For example:
- The PlannedRetail dataset includes national retail store development projects for retailers, grocers, restaurants, and other types.
- The MedicalConstruction dataset includes past, current, and future medical construction and renovation projects, sortable by location, facility type, clinical specialty, and sector (public or private).
SiteSeer users can also subscribe to MultifamilyData, SingleFamilyData, HotelMarketData, or one of BuildCentral’s other datasets—or several of them.
Check out all BuildCentral’s data solutions.
BuildCentral in the SiteSeer platform
We recently joined the BuildCentral team in their booth at ICSC 2024 to share with attendees how the SiteSeer platform powered by BuildCentral data can help them enhance their business decisions. (Check out the quick clip of our CEO, Danielle Yanskey, giving an overview of BuildCentral data in the SiteSeer platform.)
Now that we’re back, we thought we’d share a Q&A with Danielle about the different data solutions BuildCentral has to offer and types of businesses that will find this data useful:
Give us a high-level overview of BuildCentral data.
BuildCentral provides construction project data—early-stage, often pre-permit—for the retail and commercial real estate, hotel, multi-family and single-family residential, medical, and energy and mining industries. Businesses evaluating new markets and locations rely on this data to understand the competitive activity in that market as well as new opportunities and new potential customers.
What kind of insights do subscribers gain from this data?
Subscribers will get details about the scope, size, construction dollar value, geolocation, and end use of new commercial and residential construction projects that are in the planning, bidding, and even pre-construction stages. They’ll also get detailed company information about the owners, developers, architects, engineers, contractors, consultants, and others involved in those projects. That includes key contacts with names, titles, and contact information and a list of past, current, and future projects involving the company.
What is BuildCentral’s data collection process?
The company pairs automated data collection with human researchers. They have more than 11,000 digital data sources and a research team of more than 100 people. Their machine learning data collection identifies construction projects, and then their human researchers review the information before it is published to the data set.
And how frequently is this data updated?
BuildCentral’s human researchers are constantly at work and publish information into their data set every day. They also receive project submissions directly from owners and contractors who want to ensure that BuildCentral publishes their projects for public awareness.
How granular is project data? What’s included?
BuildCentral project reports all include project details, construction schedule, and decision maker contact information. Those reports vary by product, and what a PlannedRetail report includes is different than what a Geospatial Energy and Mining report includes, but the best part of their approach is that subscribers can request additional information about a project if the report doesn’t have what they’re looking for.
What would you share with retailers who subscribe to SiteSeer about the value and versatility of BuildCentral’s data?
BuildCentral’s geospatial analysis allows SiteSeer users who are evaluating markets for possible expansion to visualize construction activity and infrastructure development in those areas. That helps them focus on growing areas with strong potential for their business concept and gain insights into their competitors’ project pipelines too.
And how about brokers trying to fill vacancies or lease space in shopping centers? How does this data help them market more effectively to retailers and other chain businesses?
BuildCentral’s Planned Developments data provides crucial trade area forecast information that can be used to pitch the value of a site. Brokers can include geo-located future developments in their site recruitment packages. Beyond that, tenant rep brokers use BuildCentral data to help them build relationships with developers and owners in the early stages of planning, often before permits are even filed.
Anything else to add about BuildCentral data?
We’re thrilled to be partners with BuildCentral and offer this data to SiteSeer subscribers. We’ve gotten excellent feedback on it and how helpful it is to our retail and real estate clients. The company takes pride in its data accuracy and precision. They engage in peer review, where two members of the research team review every project prior to publishing, and they also review the data every month for completeness, timeliness, and accuracy. They stand behind their data.
Want to learn more about BuildCentral data? Visit www.buildcentral.com and contact the SiteSeer team. We’ll share more about how to power the SiteSeer platform with this and other data, which will greatly improve your business decisions.
