About A Retail Space
A Retail Space helps commercial real estate brokers get actionable insights about vacancies which allows brokers and their clients to make the right buying and leasing decision, faster.
The Challenge: Knowing Where Competitors Are Located
For real estate brokers evaluating an available commercial space, knowing where competitive businesses are located is of utmost importance. Some clients, like mattress stores and car dealerships, may optimize for close proximity to competitors. But in other business categories, being far away from competitors and close to synergistic businesses is key. Unfortunately, good data on a business's exact location, along with accurate categorization of that business (NAICS code) is hard to find.
Before SafeGraph, A Retail Space used a legacy Point-of-Interest (POI) data provider but was disappointed with it’s subpar data coverage and accuracy. The business listing database would be missing stores or include closed stores. Brokers would uncover these data issues and lose faith in the platform, when the blame truly laid with the underlying data provider.
The previous POI data provider also lacked accurate business listing categorization (NAICS codes) which caused difficulties in finding and surfacing competitor businesses to brokers inside the platform. By comparing their previous POI data provider against a truth set, they found that the previous POI data provider had just 27% of it’s listings with completely accurate data across all attributes (address, NAICS code, brand, etc.).
The Solution: SafeGraph Places POI Data
After evaluating several POI data providers, A Retail Space chose SafeGraph Places after being impressed with the data coverage on not only top retail brands, but also the quality of coverage for smaller, non-chain stores. For these mom and pop businesses, important attributes like NAICS codes were much more accurate than other datasets, which allowed brokers on the platform to more accurately find competing businesses in the vicinity.
Building A Retail Space on top of SafeGraph Places data is fundamental to our platform’s ability to deliver best-in-class insights to commercial real estate brokers
CEO, A Retail Space
A Retail Space also chose SafeGraph due to the flexible pricing model and generous licensing rights of the data. By buying and integrating SafeGraph Places, A Retail Space was able to deliver a more comprehensive and accurate tool for brokers looking to make a data-driven commercial real estate buying decision.