Tracking commercial real estate across 137 markets across the United States would seem to be an insurmountable undertaking, and when attempting to do so street by street, it very well might be. But over the last year, CoStar has taken to the skies to identify all commercial real estate construction and development, including multifamily.
Using a 9 month rotation, CoStar's Cessna canvasses each market by creating a grid across the city to pinpoint areas of construction, where they then work with a ground team to visit sites for a more expanded view of the project, including estimating completion timelines. The entire process utilizes 1,600 researches across the country to measure commercial activity in each of these markets. Company representatives hope to decrease the time to reach each major market to 3 months compared to 9 months in order to provide even more current data on the construction pipeline.
CoStars on-board display overlays actual commercial real estate data on a real-time feed in flight.