I'm excited to welcome the former Head of Global Real Estate at CBRE, Peter Van Emburgh, to Density's executive team as our Head of Industry Strategy.
Peter, or “PVE” as he’s known in commercial real estate, has been embedded with customers, run global real estate at the world's largest global real estate firm, and done work with everyone from the federal government to the Fortune 50.
Some companies use an empty chair to represent the customer. In our case, we're proud to fill it.
Peter has had more of an impact on Density than may be immediately obvious. Back in November, as he was contemplating employees' return to office, he wanted a way to measure if people were going back; to know if capacity was staying safely below a 40 percent maximum; and, to report on week-over-week re-entry to his C Suite.
He told us his team would spend a few hours each week pulling Density data into a spreadsheet and look at trends across dozens of offices and hundreds of spaces around the country. We wondered: "Could we shrink a three hour process of reviewing a national portfolio to just 30 seconds?" So the team did. Hear from Peter about joining Density here.
Alongside Peter's appointment, I am equally excited to announce the introduction of the application he inspired, the newest addition to our growing software suite, Portfolio.
Portfolio was designed to benchmark its namesake. Real estate and workplace teams can now see how their buildings and spaces are used at scale. Users can set a maximum safe capacity for each space and track their employees' return to office. With Portfolio, users have learned that they've opened 1,000-person buildings to see just 1% show up. On the other hand, users have seen buildings that are officially closed achieve unintended utilization rates as high at 28%.
The world of real estate runs on benchmarks: What does this building look like relative to others? With Portfolio, we're eager to bring the power of benchmarking to the people responsible for bringing us back to the built world.
Initially, Portfolio will be available at no additional cost to Density customers. Talk to us to learn more.