46 S C T / A U G U S T 2 0 1 6
ECH STARTUPS ARE SETTING THEIR SIGHTS ON
the shopping center industry, a shift that has already triggered big changes
for some owners, managers and brokers, experts say. Backed by incuba-
tors such as Y Combinator or Blackstone, the creators of these platforms
aim to attack inefficiency wherever they find it. "Great new companies are
coming out of the woodwork to solve problems, and it is just amazing to
see," said Nick Romito, founder and CEO of VTS, which offers a leasing
and asset-management tool for retail real estate. "We are past the tipping
point. The industry knows it needs technology, and it is not going back."
At Regency Centers, leasing agents and property managers used to have to climb
onto roofs to check the condition of expensive HVAC units. Now they use software
T
HELPING HAND
RAPIDLY EVOLVING TECHNOLOGY IS TRANSFORMING CENTER MANAGEMENT
By Joel Groover
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