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Compstak, a fairly new startup, is taking a crowd-sourcing approach to collectively assembling comps for commercial leases. Compstak is hoping brokers will contribute comps in order to secure comps of others in a points-based trading system. If successful, comps for leases will be more readily available and plentiful for all brokers and users.
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1 comment
Bob Canter
January 9, 2012 at 3:23 pm (UTC -5)
This is a fantasy…lease information is strictly by law proprietary therefore any broker involved in a lease transaction cannot without the permission of both the landlord and tenant give out the details of a 100% executed lease. In addition why would any building rep give out the details of the deals being done in their building? The landlords would have their heads on a stick for letting that info out.
No broker will be willing to risk lawsuits by posting actual leases which therefore means you are taking the word of the brokers involved which will not be at all reliable.
The reason the lease comp info is the Holy Grail of CRE info is because of the above facts. It is not allowed to be shared.