Leaselogistix® Application Finalist
in Prestigious Real Estate Industry Innovation Awards
PORTLAND, MAINE , August 13, 2001 -- The Atlantic Bay Company, Ltd., a Maine
company specializing in lease management and administration tools and services
for the retail industry, has been named a Real Estate Innovator Awards finalist
by Inman News Features for its Leaselogistix® Web-based application. The
finalists and award winners were announced at the Real Estate Connect
technology conference in San Francisco. Atlantic Bay’s Leaselogistix® application
was a finalist in the "Best Innovation Transaction" category. The Inman
Innovator Awards, in its sixth year, honors companies and individuals who have
driven technological innovation in the real estate industry. According to
Inman, a record number of nominations were received for this year’s
competition.
"We’re extremely pleased to be a finalist in this important competition," said
Susan Milnes, President of The Atlantic Bay Company, Ltd. "The roster of
companies nominated reads like a who’s who in business," said Milnes. "To be
judged a finalist among this prestigious group of real estate companies, many
whom are publicly traded and well financed, is a tremendous honor," she said.
Milnes further stated, "Being chosen a finalist out of such a large field of
competitors, coupled with our initial clients who are among the industry’s most
successful retailers, further validates the Leaselogistix concept."
Leaselogistix® offers retail tenants a flexible, and cost-effective
method to "manage their bricks with a click"™ and provides tenants with
customized Internet software solutions for management of their store lease
obligations. The lease administration database is delivered turnkey, complete
with individual company lease abstracts and other critical lease and rental
data. Retailers can immediately incorporate the database into daily use and
profit from substantial cost savings. Clients also receive a comprehensive menu
of pre-formatted real estate management reports, and can also receive
customized reports and view on-line images of lease documents.
As an application service provider, Leaselogistix® provides retailers
with 24-hour remote access to critical data in ways that are more secure,
functional, cost-effective and user-friendly than the traditional fragmented
approach to lease management. The use of Internet-based technology and the
application service provider model provides dramatic cost and time savings by
eliminating such costs as software installation and implementation; capital
costs associated with software acquisition; licensing fees and software upgrade
costs; overhead and costs associated with system maintenance. The use of the
Internet also avoids the frustration and costs associated with hardware
incompatibilities and legacy systems as well as the continuing strain on
internal IT/IS overhead and support. Further, the Leaselogistix® web-based
solution eliminates the challenge of maintaining multiple spreadsheets and
databases and enables cross-functional sharing and complete visibility of real
estate data from a single source.
Leaselogistix® is a division of The Atlantic Bay Company, Ltd., a
privately held company based in Portland, Maine, which has been providing
regional and national retail tenants with proactive lease management solutions
since 1994. The company is managed by lease administration professionals with
over 15 years of comprehensive commercial real estate experience. Historically,
The Atlantic Bay Company’s services save retailers an average of $0.25 to $3.00
per square foot. Clients include:
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L.L. Bean
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Timberland Retail, Inc.
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Brookstone Company, Inc.
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Cole-Haan Company Stores
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ADAP/Auto Palace
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Ames Department Stores
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Nutri-Systems
For more information, please visit
www.leaselogistix.com |
