NorthPoint Development: Success is built on communication, transparency and insights
‘Rethink’s insights have helped us decide where to focus growth efforts and continue to make smart decisions.’
Keeping commercial developments on track is a challenge as funding, city or county regulations, construction, permits, fees, and timelines must align precisely to avoid delays. For large companies with projects in many different cities, staying on target is a major logistical undertaking.
“We’re a very strategic, transparent and goal-driven organization,” said Sara Wergin, Director of Self-Storage Sourcing. NorthPoint has over 250 employees focused on development in four offices across the U.S. and has rapidly expanded from industrial to commercial development. “We’ve had off-the-charts growth year over year, and I think that’s partially because we’re very reflective on what we’ve done in years past and we do an excellent job of communicating with one another.”
“Rethink keeps things moving smoothly but it also pulls key information into the reporting dashboard, which gives us visibility we never had before.”
To power communication and transparency, NorthPoint manages data and complex workflows in Rethink — the only comprehensive commercial real estate (CRE) platform built to maximize workflow by facilitating and providing visibility into all elements of a deal, including contacts, properties, listings, and more.
“As a workflow tool, it’s great. We might have 10 people all working on the same deal or property — putting information in, making notes, changing things, updating — so we’ve got a lot of triggers to notify us about certain activities or timelines,” Wergin said. “Rethink keeps things moving smoothly but it also pulls key information into the reporting dashboard, which gives us visibility we never had before.”
Rethink’s reporting dashboards offer at-a-glance insights on properties, prospects, deal pipeline, comparables, and revenue forecasting, and allow NorthPoint to dive deeper into data with just a click. Drag-and-drop functionality makes it easy to create customized reports and dashboards that fit their unique needs.
“That visibility is really valuable,” said AnnaMarie Thompson, Project Administrator. “Everyone’s running in different directions, working with different deadlines and budgets. Now, instead of tracking their progress in their own spreadsheet, inbox or desktop, our whole team has important information in one collective space. Rethink’s insights have helped us decide where to focus growth efforts and continue to make smart decisions.”
Because Rethink’s user-friendly features are designed specifically to help real estate professionals complete and manage deals, some NorthPoint employees have adopted the solution enthusiastically.
“We joke that one of our teams eats, sleeps and breathes in Rethink,” Thompson said. “They love it because they’ve seen how well it works for them.”
Using Rethink also helps NorthPoint move quickly when competitive opportunities resurface, she says.
“Historical documentation is important because in the development world, you could look at something today and it could come back to you in six or eight months. Rather than digging through old spreadsheets — if you’ve checked your boxes and filled in your Rethink fields, it can help you seize the renewed opportunity.”
About NorthPoint Development
NorthPoint Development is a privately held development firm based in Kansas City focused on Class A development in the industrial, senior housing and self storage markets. They are one of the most active industrial development firms in the country having developed over 61,200,000 square feet of Class A industrial product since their inception in 2012.