Understanding the Match Score
In AlphaMap's TenantFinder tool, the Match Score is a comprehensive metric that quantifies the compatibility and potential success of potential tenants with a commercial real estate (CRE) property. This score is derived from a sophisticated analysis that combines two key scoring methodologies: Brand Synergy Scoring and Demographic Scoring.
Think of the number as a credit score, and refer to the simple color system to understand quickly if the Match Score is good (green), decent/in the middle (yellow), or not a great match (red).
Brand Synergy Scoring Methodology
Brand Synergy Scoring assesses the compatibility and potential synergies between a location/property and potential tenants based on their respective brands. This scoring methodology involves:
Comparison Metrics: Various metrics such as brand reputation, market presence, customer demographics, and brand perception are used to evaluate the alignment between the brands.
Scoring Algorithm: A proprietary algorithm quantifies the degree of synergy between the CRE property and potential tenants, assigning a numerical score indicating compatibility and potential mutual benefit.
Demographic Scoring Methodology
Demographic Scoring evaluates the suitability of potential tenants for a CRE property based on demographic factors like age, income, education, lifestyle, and household composition. The methodology includes:
Demographic Profiling: Comprehensive demographic data sources are used to profile the target market of the CRE property and potential tenants.
Segmentation Analysis: Demographic segments are identified and analyzed to determine alignment between the target market profile and potential tenants' characteristics.
Scoring Model: A scoring model assesses the demographic fit between the CRE property and potential tenants, considering factors like demographic similarity, market demand, and growth potential.
Calculating the Match Score
Once Brand Synergy and Demographic scores are determined, they are combined using a weighted algorithm to calculate the Match Score. This algorithm considers the relative importance of each scoring component based on the property's specific objectives and market conditions.
Utilizing the Match Score
Tenant Selection: The Match Score helps CRE professionals identify tenants whose brands are complementary to their property, fostering stronger partnerships and increasing successful leasing agreements.
Leasing Strategies: By strategically curating a tenant mix based on the Match Score, CRE professionals can enhance the overall appeal and value proposition of their properties.
Maximizing Property Value: Optimizing tenant selection through the Match Score can lead to increased property value and a vibrant, sustainable leasing environment.
Data-Driven Decisions: The Match Score empowers CRE professionals to make data-driven decisions, aligning potential tenants with the demographic profile and brand synergy of the property's target market.
Getting Started with Match Score
To access and utilize the Match Score feature in TenantFinder:
Select Criteria: Begin by selecting your location and refining search parameters with the filters above your results list.
Match Score Generation: TenantFinder will generate a Match Score for each potential tenant, indicating their compatibility with the property/location.
Review Reports: Utilize Match Score reports to assess potential tenants' fit, make informed leasing decisions, and optimize tenant selection strategies.
The Match Score in AlphaMap's TenantFinder is a powerful tool that combines Brand Synergy and Demographic Scoring methodologies to help CRE professionals make data-driven tenant selection decisions. By understanding how the Match Score is calculated and leveraging its insights, you can maximize property value, cultivate successful tenant partnerships, and create vibrant leasing environments.