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Managing Deals More Efficiently with VTS

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Asset type

Industrial, Office, Retail

Portfolio size

16.7M SF

Regions

Baltimore & Washington D.C.

Established in 1967, Merritt Properties is a full-service commercial real estate firm with more than 16 million square feet of office space in more than 70 locations. The firm owns and manages more commercial space than any privately-held developer in the Baltimore/Washington area and is well known for having strong relationships with its tenants. The company initially turned to VTS when they were looking for a more scalable and efficient way to manage information on leasing activity, occupancy, and tenant relationships. Since becoming a VTS customer, they have transformed their leasing and asset management processes.

“[VTS] is great for me because I’m out in the field taking prospects to different spaces every day. I can go back to that and find everything I need. I use VTS to track what the broker said, what the tenant wants to do with the space, and what requirements they have.

Shaelyn Mullaney, Leasing and Business Development

Challenges & Roadblocks

Why Merritt Properties needed to transform their approach to leasing and asset management

Inefficient pipeline management

Before VTS, Merritt’s leasing team didn’t have one place to manage their pipeline of prospective tenants and record updates for each opportunity. With 12 leasing agents across two offices, this information was spread across multiple sources – spreadsheets, phone calls, post-its, Google docs, and more. This made it difficult for members of the leasing team to stay organized.

Solution

Transforming the leasing and asset management processes at Merritt Properties

Better deal management

With VTS, Merritt’s leasing team is able to manage the potential tenants in their pipeline more effectively. By recording all tours, broker conversations, and tenant requirements in one platform, they can easily stay organized and follow up on opportunities more efficiently. And if a tenant isn’t interested in a space right away, Merritt has all the information and context they need to
re-engage intelligently with the tenant at a later date.

With VTS, we can have a conversation with somebody that may not be interested in something right away, but further down the line, we can go back and look at the conversation and re-engage with them intelligently.

Merritt-Logo

Shaelyn Mullaney

Leasing and Business Development

See what VTS can do for you.