Compass Commercial

CRE firm is new Yardi client

By Leah Etling on Sep 5, 2020 in News

Bend, Oregon is well-known for its gorgeous mountains, forests and rivers, well-balanced and high quality of life, and prospering remote work culture (even prior to COVID-19). So, it’s no surprise that despite the pandemic, real estate is continuing to thrive in Central Oregon. Nearby cities Redmond (home to the Bend/Redmond regional airport), Sisters (a charming tourist destination) and Prineville (hometown of Les Schwab tires and now the location of a major Facebook data center) are seeing a boost as well.

The team at Compass Commercial Real Estate Services, a new Yardi CRE client, knows that firsthand. They have been providing asset management, construction, brokerage and leasing services since 1996. Currently, their management portfolio includes 700,000 square feet of office assets, 500,000 square feet of retail, and 500,000 square feet of industrial.

“We originally started out managing single individual assets, and as Bend grew, we began moving into the next generation of institutional buyers  and local owners with portfolios,” said Jackie Niebling, Vice President of Asset and Property Management and a principal broker for Compass Commercial.

“Bend has become a hotbed for individuals seeking work-life harmony. We’re seeing a great deal of activity from outside investors wanting to invest in Bend so that they can relocate here and enjoy our lifestyle,” Niebling summarized.

A privately held company, Compass Commercial is not only the largest CRE provider in the region but also a leading authority on regional real estate activity. They even publish a quarterly guide to local rent and transaction activity aptly titled “Compass Points,” which offers a comprehensive snapshot of CRE trends.

The most recent edition focused in on the impacts of the pandemic on Central Oregon real estate. And apart from smaller office leases, things appear to be holding up well. Retail and multifamily remain strong, industrial is thriving, and the Compass Commercial team expects real estate demand from both businesses and individuals to increase in the months to come.

“With large national companies, especially in technology, allowing employees to work remotely indefinitely, we’re expecting to see an impact here. Bend is such an amazing place to live that we’re wondering what that influx is going to look like and do we have the services and available space for it,” said Niebling. “That’s one of our major areas of focus right now: how is the exodus from the major cities going to impact Bend?”

To effectively meet the needs of its growing client base, Compass Commercial recently decided to turn to the Yardi platform for a best-in-class real estate technology solution that could effectively handle all of the asset types its team touches. They will complete the implementation process in early 2021.

With 32 years of professional experience in property management and the leader of two previous Yardi implementations at former employers, Niebling knew that Compass Commercial needed best-in-class software to fulfill its business goals and provide exceptional service to clients.

Compass Commercial will utilize Yardi Voyager to manage day to day accounting and reporting, Advanced Budgeting and Forecasting for budgeting and portfolio planning, CommercialCafe for self-service lease payments and to enter maintenance requests and VendorCafe to better manage vendor relationships, invoice processing and work orders.

“Yardi focuses on commercial real estate, and other platforms do not. If you want the best platform to provide our clients and our company with the most in-depth data, Yardi is the only solution,” said Niebling.

Learn more about Compass Commercial at https://www.compasscommercial.com