Over the past decade, the use of geographic information systems (GIS) in commercial real estate has grown by leaps and bounds. Today, retailers, can use GIS to decide where to open new stores by analyzing traffic patterns, income, and demographic data over combined maps. Another example of the use of GIS is by pharmacies to complete their site selection process, using the GIS mapping platform to analyze sales trends. It has even allowed some of them to develop a flu index.
Rittenhouse Appraisals uses GIS systems to help clients better understand the competitive market and opportunities of capitalization by providing geographic analysis of demographic data, intermixed with local real estate and municipal data. Other services provided to market participants by Rittenhouse Appraisals using GIS data includes helping the client understand the strengths and weaknesses of a location. That is done by arraying data that is pertinent to the ownership and tenants. GIS systems allows users to make the most of a location and mix data from a plethora of sources – and lay it all out on a map.
The Esri (Environmental Systems Research Institute) platform accommodates solutions to see where data is and how everything connects. It helps businesses clarify data through the lens of a map, so they can make better business decisions.
Rittenhouse Appraisals uses Esri products to analyze real estate trends and activity. They also use it with a mix of demographic data to project market changes and provide a map-based fundamental demand analysis.
Rittenhouse Appraisals is based in Center City Philadelphia and services the entire Mid-Atlantic Region. In addition to providing appraisal services, Rittenhouse also provides consulting, site analysis, site visits and draw inspections.
The staff at Rittenhouse Appraisals includes individuals who have attained the highest designation available in the commercial real estate industry. They provide a custom analysis for properties that include an in-depth examination of factors that are pertinent to its value and performance.
Carlo L. Batts, MAI, is principal/chief appraiser at Rittenhouse Appraisals. He can be reached at 267.314.8635 or email@example.com.