By David Lucas
Union Realtime, a leading provider of data, insights, and analytics to the self-storage industry, has unveiled a new version of its flagship product, Radius, which will give the self-storage community access to real-time data on a low-cost, per-use basis.
Radius 3.0 is a cloud-based platform that enables owners/operators, developers, lenders, and other self-storage professionals the ability to analyze all of the crucial information at any existing or potential site across the country. On the program’s main map, users can select any site in question and get information such as how many self-storage facilities exist in the trade area, their net rentable square feet, population density, new projects under planning or construction in the area, real-time rental rates, along with a broad range of supply/demand information.
Radius is the only solution offering regional and local pricing and promotions analysis on a daily basis.
Radius 3.0, which is scheduled to premiere in March, represents a major overhaul to this industry-leading platform.
The new version features:
• 100 percent supply coverage across the U.S.—over 44,000 facilities
• Increased rental rate coverage—over 20,000 facilities, updated daily
• Rental rate comparison analysis tool in unit level detail
• Full owner and contact information
• Low-cost, pay-per-use platform credit system.
Additional features coming later this year include the ability to export data to CSV and PDF; sales listings; facility loan information; and flood maps.
“This is a platform that is available not only for large operators but also individual owners who want to survey site selection and a whole host of valuable functions,” notes Cory Sylvester, Principal at New York-based Union Realtime. “Access to this information will change the industry substantially. Access to information generally costs thousands of dollars and a one-year subscription. We are changing that, all while providing data of unmatched quality and accuracy.”
The pay-per-use credit system allows the user access to the entire Radius analytics platform for only $20 per hour. Additionally, operators may offset this cost by exchanging facility development information for Radius credits.
“We incentivize people to provide information about development activity so we can aggregate the data into a single, ubiquitous platform for all industry participants to utilize,” Sylvester says.
Clients can access Radius to answer questions about self-storage activity on a regional or local level, giving the self-storage community the ability to see the supply/demand balance around their facility, their competitors’ pricing, owner contact information, new construction in their facility’s market, as well as the ability to make informed development decisions.
“Clients can come to our platform with essentially any question about self-storage and leave with an answer,” Sylvester says.
Union Realtime’s products are targeted to one-owner operators up to real estate investment trusts. In addition, clients include some of the industry’s largest lenders, appraisers, brokers, developers, management companies, and consultants conducting feasibility studies.
Instant Access To Supply/Demand And Development
Radius technology digitizes 100 percent of national supply at the address level, capturing public and privately-owned facilities in both major metros and suburban regions. This proprietary technology keeps the supply database up-to-date as new facilities come online, so the data never goes stale.
Union Realtime has analyzed the entire country to deliver the industry’s first complete real-time and address-level supply database. Using industry standard techniques, Radius provides net-rentable square footage with climate-controlled information on a granular level.
Radius’s demographic analysis lets users investigate crucial population metrics at a specific trade level including: population, household count, renter occupancy, average and median income levels, and per capita income.
Union Realtime brings together the largest pipeline of projects from the country’s leading developers and operators. This innovative platform lets users contribute and validate any aspect of the new supply outlook. Radius tracks development pipeline data at the project level, distinguishing between projects currently being planned, projects that have been permitted, and properties under construction.
Union Realtime’s analysis is delivered on a web-based platform hosted on secure cloud technology, so clients can instantly access relevant insights without waiting for reports or having to request downloads.
New From Union Realtime
Radius Data Services
Radius Data Services is a data feed of daily pricing information that allows operators real-time access to competitor pricing in unit level detail in their market areas, giving self-storage operators virtually the same price-tracking capabilities as the REITs.
This is the same service used by some of the largest operators, like New York-based Life Storage, to take instant snapshots of pricing in given markets.
“We’re creating a platform that allows operators to consume the same information the REITs use, but in their own market areas,” Sylvester says. “Large and medium operators have built tools to monitor various data, and we supply competitor rates in a granular and accurate fashion to support their efforts.”
Radius Data Services digs deep to unit-level detail, giving operators the power to optimize their pricing strategy and stay ahead of the competition. Access daily pricing for over 200,000 units across more than 20,000 facilities, which is virtually every facility that publishes their pricing online.
• Competitor pricing at 20,000+ facilities, updated daily
• Flexible and customizable delivery formats
• Dedicated customer service and support
• Easy to use platform for single-owner/small operators
Union Realtime’s data seamlessly integrates with a facility’s revenue management infrastructure, allowing the operator to adapt to the local and national market in real-time.
The company constantly analyzes self-storage and industry-related data internally to uncover opportunities for clients and to customize feeds to fit their current revenue management infrastructure.
“No one has been able to create a platform to monitor the entire industry from pricing to supply,” Sylvester says. “It’s the quality, breadth, and consistency of our data that sets us apart. We are not just providing data but also advanced analytics. We provide information that people can apply and analyze in real-time.”
What Clients Say About Union Realtime
“The team at Union Realtime is exceptional. They worked attentively and diligently with us to understand our business and deliver a customized solution.”
– David Paolini, Life Storage Inc.
See Radius In Action
Create a free account at radius.unionrealtime.com to see all that Radius 3.0 and Radius Data Services have to offer.
Company: Union Realtime
Headquarters: New York City
Contact: Cory Sylvester
Telephone: (646) 883-9427