Farmington Hills, Ill.-based XSite Validation, a company that specializes in property evaluation and site selection, released XSite Reports service, a web-based solution designed to provide comprehensive market viability analysis of commercial real estate properties. The reports generated by XSite's service give banking institutions, retailers, real estate brokers, franchisors, and land developers a new tool to allow them to quickly assess a property's fit for a specific use. XSite Reports help reduce risk, improve valuation, and readily complete first-stage due diligence for commercial real estate investments.
XSite Reports uses geographical information systems (GIS) technology in conjunction with trusted real estate data providers to allow users to perform market viability analysis of a property for desired commercial use. The service does so more quickly and at a lower cost since it is Web-based, according to XSite.
Each XSite Report generated uses the company's XSite Report Index (XRI) patent-pending objective property evaluation scoring model built around the intended use of a property. According to the company, comparative assessments of many properties can be performed for one intended use and users can identify the best use of a specific property. The XRI distills thousands of analysis variables and intended use criteria into a "go/no-go" decision-making traffic light indicator.