SOLON, Ohio, May 22, 2017 /PRNewswire/ -- MRI Software, a global leader in real estate software solutions, today announced that 30 percent of the International Council of Shopping Center's top-50 North American shopping center ownership groups are using the company's solutions to increase the performance of their assets, streamline processes and gain critical insights to power rapid decision-making.
MRI Software's solutions for the shopping center real estate market address multiple roles within the industry, including commercial property owners and operators, retail tenants and real estate investment brokers:
- Commercial Property Owners and Operators: The MRI Commercial Suite, which includes Advanced Retail, and the MRI Investment Suite together enable commercial landlords to increase performance of both retail leases and real estate operations. Organizations can maximize revenue by automating complex retail lease calculations and improve forecasting with increased visibility into financial performance. Firms can make more informed business decisions based on actionable insights into non-financial retail data with MRI's AnalytiX Portal.
- Retail Tenants: MRI Corporate Real Estate (CRE) empowers retail tenants to take control of lease expenses and terms by automating complex calculations and providing enhanced data visibility. Percentage rent, recurring payments and lease offsets are no longer shrouded in mystery, and retail tenants never need miss a critical lease term or deal with unpleasant financial surprises again.
- Real Estate Investment Brokers: With the announcement that a commonly used valuation software product will discontinue support in the near future, many commercial real estate professionals will have little choice but to undergo a major implementation and migration burden. MRI's Global Valuations offers an alternative to companies that are being forced to transition to a new platform that may not meet their unique business needs. With support for multiple valuation methodologies and deployment options including SaaS and desktop, MRI Global Valuations gives clients the flexibility to choose what works best for their organization. In addition, MRI provides the unique ability to share and collaborate on valuation files within the investment broker's real estate community.
"MRI's clients rank as some of the largest shopping center owners and operators based on total global square footage," said Brian Zrimsek, Chief Product Officer at MRI Software. "With billions of dollars of assets under management, our clients require a comprehensive and flexible solution that can provide instant, accurate insight to guide operations and optimize business results. Our open and connected ecosystem means that clients can easily integrate partner and other third-party solutions into their framework to create the best fit for their specific business needs."
MRI Software Solutions in Action: Phillips Edison & Company
Phillips Edison & Company (PECO) is just one member of the ICSC North American Top 50 using MRI's software solutions. PECO owns and manages grocery-anchored shopping centers and uses MRI Software to manage more than 340 properties. MRI Software's ability to configure the solutions and to integrate effortlessly with other critical applications was important to Shaun Smith, CIO at PECO.
"MRI's comprehensive solutions removed the integration pain points by plugging into other key applications and improving our overall software ecosystem rather than trying to force us into a box of their creation. With MRI's open ecosystem we are able to create the best possible system for our business's unique needs at this time," said Smith.
Before the firm deployed MRI Software, every month, the lease renewal group would run spreadsheets to ensure they had not overlooked expirations. Today, MRI keeps that data updated and fresh in real time. Likewise, MRI's ability to automatically feed marketing data to the website and exchange data with the ERP system has saved the company hundreds of hours of work.
MRI Software will be demoing its solutions for the shopping center real estate market at booth N1224 in the Marketplace Mall at ICSC RECon 2017 in Las Vegas, May 20 – 24. For more information, please stop by the booth or request a meeting.
About MRI Software
MRI Software is a leading provider of innovative real estate software applications and hosted solutions. MRI's comprehensive and flexible technology platform coupled with an open and connected ecosystem meets the unique needs of real estate businesses—from property-level management and accounting to investment modeling and analytics for the global commercial and residential markets. A pioneer of the real estate software industry, MRI develops lasting client relationships based on nearly five decades of expertise and insight. Through leading solutions and a rich partner ecosystem, MRI liberates real estate companies to elevate their business and gain a competitive edge. For more information, please visit www.mrisoftware.com.
CONTACT: Jeff Miller
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SOURCE MRI Software