Regency taps new platform for leasing

Shopping center owner and operator Regency Centers is adopting a new software platform to help fill its vacancies.

The Jacksonville, Fla.-based company will use Spacewise’s proprietary suite at select properties. Created for specialty leasing teams, Spacewise allows owner/operators to speed up the leasing process and manage short-term and pop-up deals in one online platform. 

Regency Centers will be able to upload their space inventory with real-time availability, market their assets and qualify their leads to retailers and brands seeking locations. Depending on the subscription-based package, property owners can have a branded portal that creates an e-commerce-like experience for prospective tenants.

Spacewise will be used to manage leases at 25 of Regency’s top-performing centers, including Village at La Floresta in suburban Los Angeles, Mellody Farm in Chicagoland, Woodway Collection in a Houston suburb and Oakleaf Commons in a suburb of Jacksonville.

According to the Swiss-founded company, Spacewise clients have seen specialty leasing revenue increase by as much as 10 times in the first year of implementing the program, and more than 30 percent year-over-year increases ongoing.

“Spacewise’s digital platform streamlines and automates the leasing process from end to end, allowing our clients to simplify lead management, qualify prospects and eliminate tedious manual tasks so that leasing professionals can focus on converting tenants instead of paperwork,” said Brennan Wilkie, chief operating officer and president, Americas for Spacewise. “Our technology improves the economic model for specialty leasing, creating new revenue opportunities while adding margin by reducing the cost and time to close deals. We’re excited to work with Regency Centers around the U.S. on this initiative.”

Regency Centers owns and manages 482 centers comprising more than 61 million sq.-ft. of retail real estate space around the U.S.