By Joshua Burd
Dun & Bradstreet is expanding a partnership with a commercial real estate data and software provider, with a focus on bringing further clarity to the vast network of available industry data.
The Short Hills-based data and analytics company joined Reonomy this week in announcing the new partnership, which follows nearly two years of ongoing collaboration. Later this year, Reonomy will become the exclusive data redistribution partner of Dun & Bradstreet’s content for the North American commercial real estate market, seeking to more accurately match properties to their associated ownership portfolios, LLCs and current occupants.
Reonomy, whose platform promises purer, more valuable data for its commercial real estate clients, hopes to do so by leveraging Dun & Bradstreet’s vast business data and insights. In New Jersey, Reonomy currently tracks structural, transactional and ownership data on 560,906 commercial properties, having identified 27,673 transactions that took place in the state over the course of 2018.
“Given Reonomy’s past success in leveraging Dun & Bradstreet’s data to create unique value for the commercial real estate business, we saw an opportunity to strengthen our partnership and increase the value provided to end customers in this growing and data-centric market,” said Michael Bird, Dun & Bradstreet’s general manager of sales and marketing solutions.
In a news release, Reonomy said it strives to integrate three core pillars of commercial real estate data — transactional, physical and geospatial and owner — to give customers a holistic experience that makes for stronger deals. The company creates enterprise products to bridge the industry’s current gap in data aggregation, using proprietary algorithms and a robust network of data redistribution partners.
The firm believes that more commercial real estate companies are struggling to condense their datasets as the market becomes more digitized, resulting in the adoption of their own systems of engagement, the news release said. It now aims to help clients streamline those layers of data with partners such as Dun & Bradstreet.
“As more companies rely on Reonomy to streamline their entity resolution, we need to continue our strong momentum in data clarity and accessibility,” said Rich Sarkis, Reonomy’s CEO. “Having Dun & Bradstreet in our private partner ecosystem not only bolsters us as leaders in the space but also propels us forward in our journey to revolutionizing the industry’s relationship with data.”
Reonomy also covers 60,363 properties across all of New Jersey’s 169 designated Opportunity Zone census tracts.