By Joshua Burd
A new technology platform by Marcus & Millichap is primed to draw additional investors to New Jersey’s commercial real estate market, while helping locally based owners find opportunities beyond the Garden State.
The real estate services firm recently unveiled MyMMI, a customizable brokerage tool that automates perpetual matching of investors’ property search preferences with the firm’s exclusive listings. With the newly launched portal, owners and buyers receive automatic notifications when new properties become available and price changes that match their criteria occur.
According to Marcus & Millichap, users can also customize preferences to receive target market research data and industry event news matching their investment goals.
“MyMMI allows our buyers to curate what they want to see, when they want to see it, directly connecting them to the largest available exclusive commercial property inventory in North America,” said J.D. Parker, executive vice president and chief operating officer for the firm’s eastern division. “For sellers, this is yet another evolution in our 51-year tradition of innovation in making a market for every exclusive listing through our industry-leading buyer reach and database.”
Jim McGuckin, who leads Marcus & Millichap’s New Jersey team, expects the platform to have broad appeal in a market such as New Jersey, which has a long history of drawing outside capital.
“For owners here in New Jersey, this tool allows them to more efficiently search for opportunities both locally and across the U.S. and Canada,” said McGuckin, a vice president and regional manager with the firm. “Of equal importance, this tool will introduce capital from outside the state and region to our exclusive inventory in New Jersey, increasing the buyer pool for our sellers.”
Marcus & Millichap Chief Administrative Officer Greg LaBerge added: “MyMMI gives investors more control and personalization than ever before. Providing buyers with the ability to save searches that meet their needs, constantly scanning our dynamic inventory reflects our client-centric mandate for all proprietary technology development.”