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Managing Change Though Adaptability: How Parkway is Leading the Houston Market

It's been nearly a week since our conversation between Parkway's Chief Operations Officer, Mike Fransen and our Chief Product Officer, Geoff Lewis. The fireside chat-style webinar, Managing Change through Adaptability, was full of great information and learnings about Parkway, Honest Buildings, and the future of CRE.

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Behind Our Series B: Creating Value Through Purpose-Built Tech for Owners

A few weeks ago we closed our Series B: a $30 million round of funding from an incredibly strategic group of partners. The investors included some of the real estate industry’s largest and most innovative commercial real estate owners alongside real estate focused venture capital funds. We raised this round to accelerate the creation of a new category of technology platform built specifically for owners who oversee the $10 trillion per year annual global construction spend. To do this we’ll continue to invest into expanding our world class team, and expand from facilitating $1 billion per month in project volume to tens of billions per month on the Honest Buildings platform.

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Key Takeaways from Catalyst: How Owners Can Progress the Urban Landscape

 

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Vendor Qualification Template for Real Estate Owners

Even the most well-connected real estate project managers and property managers find themselves in need of new vendors for their capital and construction projects from time to time. In addition to the savings that competitive bidding practices deliver, owners have to meet the demands of expanding portfolios, new building technologies and stiff industry competition.

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Structuring an Effective Commercial Real Estate Cost Tracker

Capital, construction and tenant improvement projects are made up of numerous evolving factors, making it difficult to monitor where costs stand in relation to budget—but no less important. One of the best ways to empower your real estate team to diligently audit and control costs despite shifting conditions is to start with a well-structured tracker.

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9 Tips to Control and Track Costs on Tenant Improvement Projects

Tenant improvement (TI) projects are pretty common which means most real estate owners can manage them with their eyes closed. No sweat, right?

Well, yes and no.

Often when we run any process over and over we start paying less attention to the details and we’re less likely to look for opportunities to optimize our methods. While most tenant improvement projects don’t cost an enormous amount of money individually, they have a big impact in the aggregate, making it very important that you reflect on how your process can be improved.  

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The Cost of Bad Project Cost Tracking

There are many ways that bad cost tracking arises, and they usually involve the word “lack:” a lack of continuous planning in real time, a lack of communication among the team, a lack of asking the right questions and learning from past mistakes, and a lack of the proper tools needed to keep costs on track.

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Cost Tracking Checklist for Real Estate Owners

Finances on capital and construction projects are typically pretty complicated. It can takes weeks or even months from when project managers know a cost will be incurred to the time when the accounting team cuts the check. So, it’s critical that a real estate owner’s cost tracking process can track a variety of costs and that it’s diligently maintained.

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Insider Bid Management Tips for Real Estate Owners

It’s been firmly established that a well-run bidding process drives down costs on capital and construction projects while also reducing the risk of change orders and delays. As billions of dollars in project value have been run through our project management platform by some of the largest owners in North America, we’ve seen where best practices make a meaningful impact and where teams commonly falter.

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The Most Effective Bid Template for Construction Projects

While capital projects and construction projects can range from a simple painting job to an entire roof replacement, a real estate owner’s goal is always to increase the value of an asset or to make sure tenants are happy with their space. One of an owner’s best tools for making this happen is the ubiquitous bid form.

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