Where real estate and technology converge, so do strategic marketing alliances. Leading the way this month:
- New York-based CapitalThinking Inc. and Bethesda, Md.-based CoStar Group have formed a strategic marketing alliance to deliver CapitalThinking's online debt placement capabilities to CoStar customers. With the six-month agreement - yes, six months - CapitalThinking will be the exclusive sponsor of the CoStar home page, as well as the home page of CoStar Exchange. Both CoStar Web pages will link to CapitalThinking's lender base and debt processing capabilities. The two online players also will share key industry information through CoStar's Comps subsidiary.
- Adding another big name to its listing service, Chicago-based Comro.com will list AmberJack Ltd.'s entire portfolio of office and industrial properties. AmberJack is the real estate subsidiary of The State Farm Insurance Cos., Bloomington, Ill.
The deal strengthens Comro's presence in 12 major markets, including Dallas, Southern California and Washington, D.C. AmberJack's portfolio consists of approximately 500 million sq. ft. in 74 suburban office buildings and industrial properties and expands Comro's offerings to more than 4,000 properties and 500 million sq. ft.
- In more strategic alliance news, Denver-based ProLogis has invested $25 million in Santa Monica, Calif.-based GOwarehouse. GOwarehouse's technology gives customers real-time updates of supply chain information across their distribution network.
ProLogis' $25 million investment represents a 15.6% interest in GOwarehouse. Additionally, GOwarehouse has paid ProLogis $30 million in GOwarehouse stock, representing an additional 18.9% ownership interest, for a five-year, non-exclusive license of the ProLogis Operating System. The two companies also will develop the GOwarehouse Global Logistics Network as part of their partnership.
- In our final strategic marketing alliance, New York-based TheAskingPrice.com will market all for-sale properties owned by Philadelphia-based Berwind Property Group. Berwind's $2 billion portfolio totals more than 18 million sq. ft. of office, multifamily, lodging, retail and industrial space.