The Problem
Commercial leasing runs on relationships and lagging indicators:
- By the time a new business is shopping space, a dozen brokers already know about them
- CoStar tenant data lags real-world formation by months — the entity exists in the SOS long before the lease tour
- You can't slice tenant prospecting by NAICS without paying for an enrichment vendor on top of your CRM
- Submarket demand shifts (construction firms in NAICS 23, professional services in NAICS 54) hide in lagging indicators
What You Can Do
Surface Tenant Pipeline From SOS Filings
New LLCs and corporations register with their state Secretary of State weeks before they tour space. Filter the formation feed to your target ZIPs and NAICS sectors and your tenant pipeline lands in your CRM workflow before competitors hear about it.
Map Formation Density Against Your Portfolio
Neighborhood-level formation heat maps surface where new businesses are forming. Overlay against your portfolio map to identify submarkets with rising tenant demand, and prioritize the assets that sit in those zones.
Slice Tenant Prospects by NAICS
Your office portfolio pulls professional-services tenants (NAICS 54). Your industrial portfolio pulls logistics + manufacturing (NAICS 48–49 + 31–33). Filter the formation feed to the NAICS codes that match your asset class — no manual enrichment, no extra vendor.
Read Submarket Demand Without a Research Team
Net formation rate by submarket and sector reveals where tenant demand is rising or contracting. Build the leasing-strategy memo against actual filing data — not last quarter's brokerage report.
Sample Insight
73 new LLC formations · +28% vs. trailing 90-day average
West Loop and Wicker Park submarkets posted a 28% surge in professional-services LLC formations against the trailing 90-day baseline. Average formation age in the cohort: 47 days — most haven't signed leases yet.
Action: route the 73 entities to the West Loop leasing rep, prioritize the 14 with registered-agent addresses outside Chicago (likely out-of-state founders relocating), and triage against current vacancy in the office portfolio.
Illustrative only. Production volumes scale with your target submarket footprint and Lender-tier rate limit (1,000 req/mo).
Recommended Plan
The Lender plan covers the commercial-landlord workflow — national coverage, NAICS slicing, neighborhood heat maps, API access for CRM wiring. (No separate landlord plan; coverage overlaps cleanly.)
- Everything in Analyst
- National coverage (as states are added)
- NAICS 2-digit industry breakdown
- Neighborhood-level formation heat maps
- ZIP-level filter on the formation feed
- Full historical lookback
- API access (1,000 req/mo) — wire it into your CRM
- 10,000 row CSV/JSON export per month
- Email + chat support
- 7-day free trial, cancel anytime
Need webhook alerts on every new formation in your target ZIP? Compare all plans