Vertically-Integrated REIT with 8.7 million square feet owned and managed in the Houston area.
“Honest Buildings has created value for our team in three distinct ways. First, the software directly helped us lease up spaces sooner and realize ROI well in excess of the cost. In Houston we decided to deploy a spec suite program, working on 15 - 20 spaces at a variety of prices points within a period of four months. Utilizing Honest Buildings for the bidding and tracking of each project we have begun to see up to a 20% reduction in time to build out the spaces, which gives us considerable competitive advantage in securing tenants at our assets.
Second, we have been able to utilize the improved visibility into our project costs to create better assumptions and underwrite assets based on trend lines for each asset. Leveraging Honest Buildings helps us have a flexible operating model that makes us a more nimble organization.
Utilizing Honest Buildings for the bidding and tracking of each project we have begun to see up to a 20% reduction in time to build out the spaces, which gives us considerable competitive advantage in securing tenants at our assets.
Lastly, using the software has been a great help to overcome challenges, especially with adding new team members. The product bought us months of time in aligning new teams during an important transition for our company. We were focused on getting ourselves to a productive and better state sooner and without the product we would have been faced with at least a six month learning curve to understand each project manager’s methodology.
We instead mandated our process, and explained to the team that we were providing the software to comply with that process. We told them ‘we want you focusing on construction management, we don’t want you focusing on tracking.’ Our construction team was blown away by this and the support that was available around the software. We essentially bought back people’s time.
We truly think the ROI of this product has just begun to be tapped.”