- CBRE has announced a strategic equity investment in Pathzz, a Sydney-based prop-tech business
- Pathzz’s customer analytics offering uses AI and big data processing to analyse a stream of mobility signals and other descriptive data sets to aid in property decision-making
- CBRE has acquired an ownership interest in the company and a board seat to help Pathzz expand into the Pacific region and beyond
- Matt Haddon, CBRE’s Pacific Senior Managing Director, Advisory & Transaction Services, will serve as the firm’s board representation
CBRE has announced a strategic equity investment in Pathzz, a Sydney-based prop-tech business.
Pathzz’s customer analytics offering uses AI and big data processing to analyse a stream of mobility signals and other descriptive data sets to aid in property decision-making. CBRE formed an exclusive partnership with Pathzz earlier this year to bring the company’s analytics to the Pacific property market.
CBRE has acquired an ownership interest in the company and a board seat to help Pathzz expand into the Pacific region and beyond.
Customer insights have traditionally been tough to obtain in the commercial property market, according to CBRE’s Advisory CEO for Australia and New Zealand, Phil Rowland.
“While occupiers and, to a lesser extent, landlords have previously had some visibility about the behaviours of their customers, Pathzz allows for a detailed analysis from an individual business level through to analysing and comparing entire regions to assist with rent negotiations, portfolio strategies, acquisitions and leasing decisions,” Mr Rowland said.
Matt Haddon, CBRE’s Pacific Senior Managing Director, Advisory & Transaction Services, will serve as the firm’s board representation.
Pathzz CEO Jason San Diego stated that one of Pathzz’s primary benefits is that it lowers the barriers to accessing consumer insights across all sectors.
“We are excited to extend our partnership with the world’s largest commercial property services firm, CBRE,” Mr San Diego said.
“The natural synergies and alignment between our organisations will enable us to provide market leading analytics solutions to the commercial property market across the globe.”
Pathzz’s existing clients include landlords like ISPT and prominent merchants like Lululemon and Just Cuts.
CBRE is also using the Pathzz platform to provide research discoveries, such as tracking shifting consumer behaviours as Sydney recovers from recent COVID-19 lockdown limitations.
While trips to the Sydney CBD are still over 70 per cent below 2019 levels in most sections of the city, Pathzz data shows that more individuals are returning to the CBD each week.
Data for the week ending November 14 indicate a 38 per cent rise in visitors to Martin Place, a 42 per cent increase to Pitt Street Mall, and a 63 per cent increase to the area around Wynyard compared to the previous week.
According to CBRE’s Pacific director of Retail Analytics, Matt Copus, the rises indicate a rather robust rebound for the Sydney CBD following a harder lockdown than that seen in 2020.