Case Study: Manakin Property Services achieves $240K incremental revenue in one month with CoStar Group

Manakin Property Services Increases Revenue with CoStar

Manakin Property Services, a Richmond, Virginia property management firm, needed a way to consistently market and manage assets for the highest returns—finding the best tenants, understanding time-on-market expectations, and reporting market conditions to clients and its board. To achieve this, Manakin turned to CoStar Group, using the CoStar database and custom reporting tools to access granular, timely market data.

Using CoStar Group’s data and report generator, Manakin benchmarked comparable leases, set more competitive rates, and negotiated from a stronger position—discovering similar spaces leasing at $18 per square foot versus an initial $10 estimate and closing a deal accordingly. The firm realized $240,000 in incremental revenue in the first month, sped up leasing cycles, improved negotiation outcomes, and provided clear, professional market reports to stakeholders.

Manakin Property Services

Katherine Watson

President