Business on the Internet has permeated the commercial real estate industry as it has most other forms of commerce, perhaps more so. It's difficult to go 15 minutes without seeing www dot something ogling at you -- in magazine ads, on business cards, even on other Web sites -- all designed to tempt the curious into exchanging their valuable time for a look at what's behind door number two. But the inquisitiveness is not unjustified. There are a number of worthwhile Web sites, some even indispensable, that can actually save time and reduce the cost of doing business. The trick is to discover these great catches in an ocean of mediocrity and unfulfilled potential called the World Wide Web. That's where Southeast Real Estate Business steps in. This month, we look at some of the companies that are using their sites for more than an advertising vehicle, and we give you the skinny on what's next for our virtual industry.

TenantMix.com

A prospecting tool now exists for brokers, leasing agents, developers and owners of retail properties. Concentrated solely on the retail segment of real estate, TenantMix.com provides a searchable database of more than 6,500 tenant profiles, including local, regional and national chain stores, franchisees and multi-unit independents. Included in a company's profile is its ideal site criteria, an overview of its business and the total number of units in operation and their locations. And to begin negotiations, a lessor need only get in touch with the specific local and regional real estate representatives, whose contact information is also listed with the profile.

Currently, more than 5,000 of the tenants profiled on TenantMix.com operate in the Southeast. "Property owners and brokers in this region of the country should find TenantMix.com to be a very useful prospecting tool," says Brian McGowan, the company's CEO and also one of its founders (along with Keith Neus and Rick Evans). That number is sure to increase when the Web site's total number of profiles reaches 10,000 after the launch of version 2.0 this month.

StoreTrax.com

Devoted entirely to the retail sector, Bethesda, Maryland-based Storetrax.com provides a listing service that facilitates, expedites and reduces the cost of completing lease transactions. Since its launch in 1998, the company has amassed a database of more than 720 million square feet of retail space throughout 46 states, with more than 19,000 current vacancies. Each listing includes an interactive site plan, a property photo, a tenant list, demographics and contact information.

Although the majority of the properties on the Web site are strip shopping centers, retailers have a variety of search options through which to find the perfect location. "We go to great lengths to provide accurate, in-depth, current information -- no other listing site provides the level of detail that we do," says Meg Lacy, vice president of marketing. "Additionally, our management is all retail professionals so we know how to address the needs of our industry."

Soon to be unveiled will be Phase II of Storetrax.com's business plan, specifically the launch of its transaction model, which will allow property owners to list their properties on the Web site and pay a fee or commission only when a deal is done. Look for the debut of this new structure later this spring.

CityFeet.com

When looking for a more modest-sized office, retail or industrial space, small businesses and individuals can hike over to Cityfeet.com, where they will find more than 11,000 listings of available properties spread over four markets: Atlanta, New York, Los Angeles and San Francisco. Established in May of 1999, Cityfeet provides a marketplace where real estate professionals can showcase properties to those searching for spaces of 10,000 feet or less. People wanting to start or relocate their business can browse the comprehensive database and search for available properties free of charge.

According to Fred Saint, Cityfeet's vice president of business development, the company prides itself on local knowledge, which in turn leads to up-to-date listing information and a high level of customer service. "Unlike most of our competition, we have a local presence in each of the cities we feature on our Web site," says Saint. "It is important for us to have people in every office who know their city and all of its submarkets as well."

With more than 2,100 listings in the Atlanta metro area, the company's local office there stays constantly busy. Cityfeet plans to expand to Washington, D.C., and Boston, while continuously building new features into the Web site. One recent addition to the site is Cityfeet Space Watch, which allows users to enter search parameters and then receive emails when a new listing arrives that matches their entry.

NAIDirect.com

New America International (NAI), a full-service brokerage, management and advisory firm, made a smooth entry into the technology age with the launch of NAIDirect.com. The company is in reality a broker network with 150 members operating out of 230 offices worldwide, all of which can be found on one convenient Web site. "The real-time based Web collaboration substantially reduces cycle time while increasing each team member's productivity," says Bob Verstege, NAI's director of marketing.

In addition to accessing the standard services provided by NAI via the Web site, users can take advantage of REALTrac Online, a portfolio, financial management and personal planning application. Or one can visit the property center, where more than $4 billion worth of properties are listed for sale, and more than 85 million square feet of industrial, office and retail space are advertised for lease.

NAIDirect also lets users search its vast number of brokers, including professionals located at more than 30 offices in the Southeast. Perhaps most unique is the extensive scope of NAI's coverage. "Not only are we in the larger markets like Atlanta, Richmond, Charlotte, Memphis and Orlando," says Verstege. "We are unparalleled in our coverage of the region with offices in places like Augusta, Charleston, Roanoke and Knoxville, too."

iTendant

Introduced last year, iTendant provides Web and wireless solutions for property service and maintenance needs. By using iTendant, property managers can connect with tenants, service providers and building owners.

Here's how it works: tenants enter service requests directly through any Web browser. Then the system generates a work order and, at the property manager's discretion, directly dispatches it to the service provider (i.e., janitor, building engineer, etc.) through a wireless handheld device, pager, e-mail or fax. Because iTendant provides service and support for its software, users have no need for internal IT resources or significant hardware investments.

The potential for growth is infinite, according to Lee Asher, the company's co-founder and chief operating officer. Currently concentrated on only office and multifamily properties, iTendant will be launching into the retail and industrial sectors later this year. "Within the next few years, a Web-based service and maintenance solution will be building standard in the majority of office buildings and most multifamily apartment communities," predicts Asher.

Based in Atlanta, the company will remain focused on the Southeast. Asher maintains, "Southerners have a tendency to stick to our roots."

Building owners and managers who are looking for a more efficient way of doing business need look no further than manageStar.com. The privately held company, which began operating in August 1999 under the moniker eBilt.com, offers a marketplace where property managers can find service providers while saving time and money in the process.

Here are the basics: a property manager submits a request for proposal (RFP), describing the service(s) needed -- anything from architectural design to plumbing to landscaping; the information is sent to a list of service providers as a job lead; when service providers make site visits and return their bids, the property manager receives vendor profiles along with references and ratings. Of course, manageStar's software offers many more conveniences for service procurement -- such as a personalized home page, regular reports and contract abstracts -- but the example shows just how easy it can be to take the hassle factor out of vendor communications.

"If you're a typical property or facility manager, you're understaffed and over-tasked," explains Brian Brown, manageStar.com's founder and chief strategy officer. "Use our RFP engine to get speedy responses from your own service providers, or those that we suggest."

Conarc

Operating since 1996 and headquartered in Norcross, Georgia, Conarc develops business-to-business support products for industry leaders such as Cushman & Wakefield, Trammell Crow and CB Richard Ellis. Essentially, Conarc customizes database solutions, which allows information synchronization and secure content management for its clients.

For Cushman & Wakefield, Conarc provides web-based appraisal software that that begins with the creation of a proposal all the way through to electronic delivery of the completed appraisal. "The application is linked to CoStar/Spectrum for sales/rent comps, has a full client/contact management system, a revenue management system and unlimited analysis and reporting capacity," explains Vice President Ravi Durairaj.

Trammel Crow and AMLI Residential both make use of Conarc's Quik Lease application, which efficiently creates and stores multifamily leases. "Leases can now be created up to 10 times faster, eliminating errors and with professional presentation," says Durairaj. Quik Lease prints leases and stores the information in a central database for easy access, simplifying the lease renewal process.

For Federated Department Stores, Conarc developed the Visual Capital Cost system, a Windows NT based solution, to track expenditures on all of their capital improvement projects in the construction and expansion of their stores nationwide. And Chelsea GCA uses Conarc's software to manage the Mall of Georgia. Chelsea, a top developer of premium outlet centers, uses Conarc's CLASS, a lease administration and budget package that helps accountants, leasing agents and senior executives manage the entire leasing process. CLASS also helps Chelsea manage clients, contacts, properties and track retail sales for each tenant.

These examples just scrape the surface of the many ways Conarc solves the challenges presently facing progressive real estate organizations. As for the future, Durairaj states it plainly: "We will continue to provide innovative solutions to our clients so they always maintain their competitive edge."

©2001 France Publications, Inc. Duplication or reproduction of this article not permitted without authorization from France Publications, Inc. For information on reprints of this article contact Barbara Sherer at (630) 554-6054.