According to data-driven project management and procurement platform Honest Buildings, real estate owners have managed over $1 billion in capital and tenant improvement projects through the company’s software since last year.
Chicago-based Zeller Realty Group is the latest company to join Honest Buildings’ roster of large real estate owner clients, including The JBG Companies, Rudin Management, Invesco, Related Companies, The Durst Organization, CommonWealth Partners, Parkway Properties, SL Green Realty Corp. and Beacon Capital.
Over the past few months, Caddo Holdings, Federal Capital Partners, MRP Realty, and Rising Realty have also implemented Honest Buildings to manage and track their capital and tenant improvement projects.
Prior to co-founding Honest Buildings in 2012, CEO Riggs Kubiak spent a decade in the commercial real estate industry, including five years at Tishman Speyer in acquisition, asset management and global sustainability. He learned first-hand the frustration and inefficiency of the real estate industry relying on out-dated, paper-based processes and he believes strongly that innovative enterprise technology can solve these problems in the same way it has in almost every other industry.
“The rate at which the country’s foremost commercial real estate owners are adopting the Honest Buildings platform demonstrates our belief that the industry needs a technology-driven solution far superior to email, spreadsheets, paper and pens to manage and track projects within real estate portfolios,” said Kubiak.
Circle Ventures’ partner Michael Milstein, who led a round of strategic investment for Honest Buildings, said that he hasn’t seen a technology platform that saves more time, money or headaches for building owners. “It is no surprise that owners nationwide are running their projects through Honest Buildings, digitizing longtime analog processes, and benefiting from the return on that investment,” added Milstein.
Kubiak says this billion-dollar milestone is a by-product of a larger goal. “We consider this $1 billion in projects closer to achieving our mission to accelerate urban progress by empowering collaborative, data-driven decision making, project by project, building by building, city by city. ”