The Instant Group Acquires OfficeSpace.com – Matching demand with supply in CRE.

The Instant Group Acquires OfficeSpace.com

We’re excited to announce that OfficeSpace.com has been acquired by The Instant Group 

This acquisition strengthens Instant’s North American market position, as the OfficeSpace.com domain is one of the continent’s largest sites adding over 300,000 commercial listings to Instant’s already robust global platform.

OfficeSpace.com will remain a standalone brand and platform utilizing the Instant Group’s expertise in technology and marketing to enhance the platform and offerings.

To read to full press release click here: https://www.theinstantgroup.com/en-us/news/instant-acquires-officespacecom-expanding-its-workspace-marketplace-in-north-america/ 

The landscape of commercial real estate is evolving rapidly, and one trend that has gained significant traction in recent years is the increased demand for flex-office spaces. As businesses adapt to the changing dynamics of the modern workplace, the flexibility and convenience offered by flex-office solutions is shaping the future of office and creating opportunities for tenants, landlords, and operators alike.

“Officespace.com is part of our strategy to deepen our offer to meet the needs of our three customers: occupier clients, owner landlords and the operators of flexible space. With search for flexible and traditional workspace converging, this platform adds to our ability to match demand with supply.” -Tim Rodber, CEO of The Instant Group

 

The Rising Demand for Flex-Office

Flexibility has become the cornerstone of the modern workforce, and the demand for flex office spaces has witnessed an unprecedented surge. Businesses are recognizing the need for adaptable workspace solutions that can accommodate the evolving needs of their teams. Whether it’s scaling up, downsizing, or embracing a hybrid work model, flexible office space offers the versatility that traditional leases simply cannot match.

Enterprises are drawn to the flexibility of short-term leases, the ability to customize office layouts, and the convenience of fully furnished spaces. This trend is particularly evident among startups, tech companies, and even established corporations looking to optimize their real estate portfolios in a rapidly changing business environment.

 

Bringing Stakeholders Together

To effectively meet the growing demand for flexibility and optionality,  an integrated platform that serves tenants, brokers, and property owners is proving to be indispensable. This all-in-one solution streamlines the leasing process, making it more efficient and transparent for all stakeholders across the workspace ecosystem.

 

Tenant Convenience:

  • Tenants benefit from a user-friendly platform that provides a comprehensive view of available flexible workspaces.
  • Easy access to real-time data on pricing, amenities, and lease terms allows tenants to make informed decisions quickly.

Broker Efficiency:

  • Brokers can leverage a centralized platform to showcase available spaces, reducing the time and effort required for property searches.
  • Real-time communication and collaboration tools streamline the leasing process, enhancing the overall efficiency of brokers.

Property Owner Optimization:

  • Property owners gain access to a broader audience of potential tenants through an integrated platform.
  • Analytics and reporting tools enable property owners to make data-driven decisions, optimizing their offerings to meet market demand.

 

Importance of Matching Demand with Supply

In the realm of commercial property spaces, particularly flexible space, it’s increasingly critical to match demand with supply. A balanced marketplace ensures that tenants find spaces that meet their specific requirements while property owners and operators maximize occupancy rates and revenue.

 

Dynamic Market Response:

  • Real-time matching of demand with supply allows the market to respond dynamically to changing preferences and trends.
  • Property owners can adjust offerings based on demand data, optimizing their portfolio to align with market needs.

Enhanced Tenant Experience:

  • Matching demand with supply ensures that tenants find spaces tailored to their needs, fostering a positive and satisfying leasing experience.
  • The right balance avoids issues of oversupply or scarcity, creating a more stable and sustainable marketplace.

As the commercial real estate landscape continues to evolve, the shift to flexibility and agility are reshaping the way businesses approach their workspace needs. As an integrated platform that caters to tenants, brokers, and property owners, together with The Instant Group, OfficeSpace.com will play a pivotal role in meeting the rising demand for flexible workspace and offering unique solutions for the world’s most dynamic clients, owner landlords, and operators.


About The Instant Group

The Instant Group is the largest global marketplace for flexible workspace, creating a smarter working world for everyone. The Instant Group has the industry’s leading data platform, market-leading corporate real estate consultancy, and market-leading sustainability practice to enable smarter hybrid working.

The Instant Group and OfficeSpace.com

The Instant Group serves more than 250,000 businesses annually, operating 24/7 through an integrated platform in more than 170 countries and 5,500 cities. In 2023 alone, Instant expanded its reach with new operations in South Africa, Mexico, New Zealand, India, and Korea.

Preparing for 2024 in Commercial Real Estate. Is your team ready?

Hit the ground running

As we usher in the holiday season, savvy commercial real estate brokers and their teams are setting the stage for a triumphant start to 2024. Now is the opportune moment to fine-tune your strategies and ensure you’re ahead of the game come January 1. First on the agenda: a meticulous evaluation of your existing processes. Identify bottlenecks and inefficiencies, paving the way for a seamless transition into the new year. Simultaneously, it’s crucial to tie up loose ends on lingering projects, ensuring you enter 2024 with a clean slate.

 

While the festivities ensue, keep your focus sharp on the future. December is the ideal time to pinpoint potential prospects and devise a comprehensive plan on how to approach them in the upcoming year. Don’t be caught off guard—your competitors are gearing up to hit the ground running on January 1, and so should you. Delaying preparations could mean playing catch-up, putting you at a disadvantage. Stay one step ahead, invest in your success, and make sure your team is ready to embrace the challenges and opportunities that lie ahead in the new year.

 

What’s coming in 2024?

Commercial Real Estate Trends Across Asset Classes:

The commercial real estate landscape in 2024 is marked by diverse performance across asset classes. The office sector faces challenges, with a national vacancy rate of 19.2% in Q3 2023. While some older office spaces may become obsolete, opportunities arise for converting them into apartments or data centers. Industrial properties, especially cold-storage facilities, continue to perform well, but signs of softening emerge as post-pandemic demand wanes. Retail, particularly neighborhood shopping centers, is expected to shine in 2024, with steady performance and positive rent growth. Multifamily properties remain strong, although luxury apartments face decreased demand.

 

Industry Challenges and Opportunities Ahead:

Top concerns in commercial real estate include interest rates and rising costs. The bond market’s turbulence in Q4 2023 has raised uncertainty, but the chances of further Fed rate hikes have diminished. Rising construction costs and insurance premiums add to challenges, prompting owners to streamline processes. Despite obstacles, 2024 offers opportunities for investors. Cash optimization is crucial, and quick access to cash can capitalize on distressed assets. Affordable housing initiatives, proptech adoption, and energy-efficient upgrades present avenues for innovation and competitiveness. While the overall outlook for 2024 may be muted, staying vigilant and leveraging these opportunities will be key for success in the dynamic commercial real estate market.

Learn more and read the full report from JP Morgan here.

Creating CRE Listings That Sell For You

Done right, your commercial real estate (CRE) listings can do a lot more than advertise a property – they can actually help qualify your leads and eliminate a great deal of the work involved in selling (or leasing) CRE. The trick is to have all the relevant data at your fingertips, target your listing well, and have a clear, strong call to action.‍

 

Step 1: Profile your market, focus on the bottom line

The ‘spray and pray’ approach to advertising can work for mainstream consumer products, but CRE is not a one-size-fits-all consumer product. Every commercial property has certain USPs that make it ideal for one buyer and unsuitable for another. Before drafting your listing, consider who is most likely to be interested in the real estate, and for what purpose. Target those investors and highlight the USPs that will appeal to them.‍

 

Knowing the demographics and metrics of the area, along with previous sales data and transaction histories relating to similar real estate, will help you refine your target market.‍ Don’t stay committed to your initial assumptions about what target markets would be interested in the property. If your listing isn’t driving the right level of response, change the listing and target a ‘plan B’ market.

 

Step 2: Stand out from the crowd

If you’re not publishing your CRE listings online, you’re already behind the curve. Buyers can browse thousands of listings, from their mobile phone or laptop, whenever and wherever it suits them. This means brokers need to brush up on their writing and photography skills to ensure their listings get the right kind of attention from serious tenants and  buyers – and translate into sales fast.

 

First impressions count – your headline and feature photograph (the first one viewers see) are critical in getting attention for your listing. In the case of the headline, keep it simple and descriptive. There are any number of tutorials available online to help you take better photographs if that’s a skill you need to enhance.

 

In commercial real estate, the asset’s potential to drive revenue, as well as the cost of ownership, are crucial factors to focus on first. The income and potential tax and grant opportunities of CRE, its certifications, tenancy and facilities are potentially more important than the architecture, size and other features that would be top of mind to residential investors. 

 

When it comes to leasing commercial real estate, tenants are likely more interested in the assets amenities and associated details. If you’re leasing it is important to focus on what brings value to the tenants you are targeting.

 

Step 3: Important info up top 

There is a lot of information that can go into any CRE listing, and your listings should certainly include all of the relevant details an investor or prospective tenant needs. Be as specific as possible. Listing something as being in a ‘good area’, for example, is vague. Describing it as being in a ‘secured, industrial development zone’ gives the buyer a much better idea.

 

Critical information you’ll want to include:

  • Size – square footage, number of rentable spaces, lot size, parking lot
  • Property type – residential, industrial, mixed-use, etc.
  • Property class – A, B, or C
  • Submarket – walking score, demographics, mass transit
  • Capital improvements to the property – upgrades or refurbishes
  • Legal – zoning, tax credits, historical status
  • Tenant info – lease duration, NNN, type of tenants, credit score
  • Basic financials – NOI, cap rate

Step 4: The devil is in the details

It’s the little things that can ruin a good listing – like spelling, or a Google Maps plug-in that doesn’t show the correct address. Make sure that your listings are as professional as possible by running your text through online text editors (like Grammarly) and testing your links, Maps listings and every other aspect of the listing before you publish it. Buyers will notice sloppy spelling, and it reflects poorly on both the listing and the broker.

 

Step 5: It’s a package deal

Like this blog, all the elements of creating a CRE listing need to work together to deliver a rich picture of the property on offer. Headline, photography, and listings information needs to flow logically, be easy to read, simple to understand, and collectively provide the buyer with all of the information (and motivation) they need to take the next step – contacting you to arrange a viewing. Make sure that direct, accurate contact details are available on the listing. You might lose the buyer while they’re waiting on you to call them back.

 

Step 6: Call to action

If a potential investor has read to the end of your listing, they’re interested. Unless there’s a clear call to action (CTA) at this point, you risk losing them. Give them the opportunity to access more information or take the next step easily, and right away. Include a link to a 3D virtual tour of the real estate, a video outlining more the property’s USPs, or a direct message link to the broker, asking for a call back. You might even add a button to ‘click here to submit an offer’. 

 

Crafting compelling commercial real estate (CRE) listings is an art that extends beyond mere property promotion. It involves a strategic interplay of market profiling, standout online presentation, meticulous information organization, attention to detail, and a seamless integration of all elements. In this dynamic process, each component works harmoniously to paint a vivid picture of the property, enticing potential investors or tenants. A well-crafted call to action becomes the pivotal moment, propelling intrigued readers to take the next steps. Ultimately, by mastering these steps, your CRE listings become not just advertisements but powerful catalysts for successful transactions in the ever-evolving real estate landscape.

Finding solid ground amidst the challenges of dated technology and rapidly evolving commercial markets.

Change is often slow in the commercial real estate industry, especially when technology is concerned. The next year will be a pivotal time for real estate firms as they endeavor to reposition themselves in a landscape shaped by a myriad of challenges, necessitating a reevaluation of strategies and embracing innovative technologies. It’s becoming increasingly clear that the traditional status quo will no longer suffice in this rapidly evolving sector.

One significant hurdle many firms face is the accumulated burden of technical debt—a result of relying on outdated and inadequate technology and systems. The cost of this burden is steep, affecting both time and money and resulting in lost opportunities. According to a recent survey from Deloitte, a significant 61% of CRE (Commercial Real Estate) firms acknowledge that their core technology infrastructures still rely on legacy systems. However, nearly half of these firms are making strides to modernize their operations. This acknowledgment is the first step towards a much-needed transformation.

The pressing need for change represents a prime opportunity for CRE businesses to integrate new technologies. By scaling up their capabilities, these firms can better navigate the current economic challenges and emerge successfully from the broader fluctuations in CRE markets.

The pressing need for change represents a prime opportunity for CRE businesses to integrate new technologies. By scaling up their capabilities, these firms can better navigate the current economic challenges and emerge successfully from the broader fluctuations in CRE markets.

Embracing new technology is not a one-size-fits-all solution. Different aspects of the real estate business demand specific technological solutions. From marketing and sales to lease and asset management, property management, tenant engagement, investment management, finance and accounting, and even construction management, there exists a diverse array of technologies catered to streamline these functions. The success of a business hinges on its ability to identify and implement the solutions that best suit its specific needs, allowing for more efficient operations and enabling swift and effective capitalization on emerging opportunities.

The commercial real estate (CRE) industry is undergoing a major transformation, and technology is playing a leading role. To remain competitive in the coming years, CRE firms must embrace new technologies and modernize their operations.

The true cost of technical debt.

Many CRE firms rely on outdated and inadequate technology systems. This can lead to a number of problems, including:

  • Inefficiency: Legacy systems are often slow and cumbersome to use. This can waste time and resources for employees.
  • Lost opportunities: Outdated systems may not be able to support the latest trends and technologies in the CRE industry. This can put firms at a competitive disadvantage.
  • Security risks: Legacy systems are often more vulnerable to security breaches. This can put sensitive data at risk and damage a firm’s reputation.

Opportunities to incorporate new technology.

There are a number of new technologies that CRE firms can incorporate to improve their operations. Some examples include:

  • Artificial intelligence (AI): AI can be used to automate tasks, improve decision-making, and gain insights into market data.
  • Big data: Big data analytics can help firms identify trends, patterns, and opportunities that would be difficult to see with the naked eye.
  • Cloud computing: Cloud computing can provide firms with access to scalable and affordable IT resources.

Different technology solutions for different aspects of CRE.

Depending on what sector of commercial real estate your business serves, there are different needs that technology can address. From selling better and faster to smoother operations there is a place for technology in every CRE business.

Technology can be used to improve a variety of aspects of CRE operations, including:

  • Marketing and sales: Technology can help firms automate their marketing and sales processes, generate leads, and track their results.
  • Lease and asset management: Technology can help firms manage their leases and assets more efficiently and effectively.
  • Property management: Technology can help firms automate their property management tasks, improve tenant satisfaction, and reduce costs.
  • Tenant engagement: Technology can help firms improve their communication and engagement with tenants.
  • Investment management: Technology can help firms with investment research, portfolio management, and risk assessment.
  • Finance and accounting: Technology can help firms automate their financial and accounting processes, improve accuracy, and reduce costs.
  • Construction management: Technology can help firms manage construction projects more efficiently and effectively.

Solid ground in times of instability.

“Developments across the commercial real estate industry will likely be under the microscope for the remainder of 2023 and into 2024. How industry leaders choose to navigate the coming 12 to 18 months could be crucial in establishing a sturdy base of operations for the long term.”

No doubt, the future of CRE is uncertain. Today, we’re seeing the most successful firms reevaluating their technology needs and creating a solid foundation for the future by transforming their businesses to succeed amidst the rapidly changing CRE landscape.

Undeniable expertise. How Trilogy CRE has achieved continuous growth alongside client success.

In this edition of the OfficeSpace.com blog, we turn the spotlight on a real estate professional who has found that commanding market share and growing his business go hand in hand. We’re excited to showcase a remarkable tenant rep broker who has harnessed the power of Lead Connect to supercharge their real estate business. Through his dedication to every lead, Matt has not only grown his business but also transformed the way businesses, large and small, find their perfect commercial space in Arizona.

Join us as we delve into Matt’s success and explore how he has built a powerful business uniquely poised to grow and expand, even amidst the challenges of today’s commercial real estate markets.

Meet Matt Bustamante

Meet Matt Bustamante – owner of Maricopa County, AZ-based Trilogy CRE

Matt has been serving Phoenix, AZ, and beyond for the last 20 years, building his business by focusing on delivering outstanding service to every client, every time. It goes without saying that after 20 years, he has a long list of repeat customers, and the referrals continue to roll in, but in the midst of the challenging economic times of the past few years, his business has continued to grow rather than falter. I connected with Matt to discuss how he has navigated these challenges and learn more about how he has built one of the most powerful tenant representation businesses in Arizona.

 

Matt is a long-time Lead Connect customer, receiving inbound tenant rep leads from OfficeSpace.com in Maricopa County that he and his team of specialized brokers help in their “search, selection, negotiation, and occupancy of retail, office, and industrial space in the Phoenix Metro area.”

“I’ve been with you guys for three years now…[before], I was dumping thousands of dollars a month into advertising, and I was getting some leads from it, but then, that’s when I discovered [OfficeSpace].” 

Matt continues, “So I figured I’m spending a couple thousand dollars a month, even on the low end in the beginning, on advertising. Or I can spend [my advertising dollars differently] over here and get a better result. And you guys already had the SEO down, and that’s where I was lacking. So, instead of me funneling leads to other people and then taking a cut from them, I was just pursuing them myself.”

To clarify Matt’s comments – a subscription to Lead Connect starts at only $199/mo and, in most cases, is much more cost-effective than traditional lead generation or targeted advertising services in commercial real estate. Even better, Lead Connect delivers leads in real-time helping successful brokers like Matt engage leads in their markets faster.

 

All successful CRE pros know that inbound leads are essential for growing business alongside referrals and return customers and that often owning these leads is the key to success. I asked Matt how OfficeSpace.com has played a part in growing his business and his lead pipeline.

“Honestly, it came down to the volume of leads. I wasn’t able to obtain [more leads] without spending even more money to obtain the same amount of leads that you guys could give me.” Matt explains further, “So I just took them all in-house and just revamped everything. I realized I can do it better myself, so I just decided to work 20 to 30 hours more than I was already working to make sure that everything was handled properly.” 

Matt hits home that his focus is bringing the same level of dedicated service to every client is the foundation of his success. Being the exclusive tenant rep broker in Maricopa County has allowed him to grow his team and establish Trilogy CRE as the undeniable expert in the area.

“I just came to a decision, once I was going to get the entire territory exclusively, I would bring everybody in-house.  This would allow me to work with and further educate my team on the importance of customer service and refine the more intricate aspects of tenant representation.”

 

We continue discussing the growth of Trilogy CRE and how Matt has leveraged OfficeSpace.com to support his fast-growing business. “At first, the business from OfficeSpace was about a third of my total business. Now, I’m getting referrals from those clients that closed from OfficeSpace. These additional referrals aren’t directly attributable to OfficeSpace, but extremely valuable to our success.” He adds, “I’m a numbers guy. I look at where everything’s coming from, and it’s important. How do you grow if you don’t know where you come from, right?”

Continuing to discuss Lead Connect and how Matt utilizes the inbound leads, he says, “There’s a lot of value to what you guys bring. So, I just figured instead of trying to reinvent the wheel, I’ll just run with what you guys have because that’s what I was trying to do.”

 

To wrap up our conversation, I asked Matt what he feels is the most significant opportunity of being in the tenant rep space.

Without skipping a beat, he dives in, “That’s easy for me. First of all, you can’t be good at everything. I started out almost 20 years ago, primarily representing small mom-and-pop businesses, which continue to remain important to my success. These businesses are crucial to our economy and local communities.  These relationships built the foundation on which Trilogy has grown into national tenant representation for companies both small and large.  To this day, I have never represented a landlord.” He adds that he refers this business to earn income from the referrals rather than trying to spread his focus outside his expertise. “[This] allows me to concentrate on doing what I love and what I do best, which is tenant rep. “

 

By serving clients large and small, Matt confidently closes more deals than there are weeks in a year, and that number is growing as he continues to scale Trilogy CRE. He closes by stating, “Lead Connect has doubled the volume of leads that I have coming in from my existing personal book of business.”

 

At OfficeSpace.com, we’re proud to deliver valuable leads to commercial real estate professionals. Tenant rep brokers like Matt Bustamante are a testament to the necessity of tenant representation for businesses large and small. Matt has used his experience, along with inbound leads from OfficeSpace.com, to expand his reach and ensure he delivers the best client experience to Maricopa County and beyond. 

 

You can learn more about Matt and Trilogy CRE by visiting their website here – www.TrilogyCRE.com. 

 

Want to learn more about Lead Connect?

Are you looking to grow your inbound lead pipeline and become a trusted expert in your market? Learn more about Lead Connect from OfficeSpace.com here, or reach out to our team to get started.

4 ways tenant representation can help you unlock new opportunities.

The commercial real estate (CRE) landscape has evolved significantly in recent years, presenting both challenges and opportunities for brokerage firms. CRE principals and senior brokers understand that adapting to changing market dynamics is essential to success. And when market conditions are challenging, the most successful CRE businesses adapt and seek out additional revenue streams. Tenant representation not only generates new business but also creates unique opportunities for your brokerage and your junior brokers. Further, tenant rep can lead to a more diverse deal pipeline and why this diversity is a key to success in the competitive world of commercial real estate.

Tenant representation is a great way for junior brokers to develop their skills and knowledge. By working with senior brokers on tenant rep deals, junior brokers can learn about the different aspects of the CRE leasing process, from market research to financial analysis to negotiation all while generating additional revenue and a host of other benefits.

Benefits of serving tenants in commercial real estate.

Support Local Businesses

Tenant rep is also a great way to support local businesses. By helping businesses find the right space and negotiate the best possible lease, you can help them grow and succeed. This can lead to repeat business and referrals from satisfied clients.

Multiple Revenue Streams

Diversifying your revenue streams is a key component of sustainable success in CRE. Tenant representation introduces a new dimension to your brokerage’s income. Tenant representation can even create opportunities depending on your ability to scale and desire to grow your business. Beyond traditional sales and leasing commissions, tenant rep deals can include advisory services, project management, and even property management. By incorporating these additional revenue streams into your business or through partnerships with other businesses, your brokerage becomes more resilient and adaptable, allowing it to thrive in a challenging market.

Establish Lasting Relationships

One of the most significant advantages of tenant representation is the opportunity to build lasting client relationships. While traditional transactions may be one-off, tenant rep often involves long-term leases and ongoing advisory services. By working with a wide range of clients to find the right space and negotiate the best possible lease, you can build trust and rapport. 

This continuous engagement fosters strong bonds with clients. These relationships not only bring in repeat business but can lead to referrals and word-of-mouth recommendations, expanding your client base and revenue potential.

Create a More Diverse Deal Pipeline

Tenant rep can also help you create a more diverse deal pipeline. By working with a variety of businesses, you can reduce your reliance on any one industry or sector. This can make your brokerage more resilient to economic downturns and other market disruptions.

Diversification is crucial for mitigating risk and staying competitive. With a variety of property types, industries, and deal structures in your portfolio, you’re better equipped to weather economic fluctuations and market shifts.

Benefits of a More Diverse CRE Business

  • Risk Mitigation: A diverse deal pipeline reduces your brokerage’s reliance on a single market segment or type of property. This risk mitigation is crucial in unpredictable economic environments.
  • Market Expertise: Handling a wide range of property types allows your junior brokers to gain expertise in various sectors, enhancing their market knowledge and adaptability.
  • Competitive Edge: A diverse CRE business positions you as a well-rounded brokerage, capable of serving clients across different industries and sectors.
  • Growth Opportunities: As your reputation for diverse expertise grows, so does your potential to attract new clients and venture into emerging markets.

Tenant rep is a great way for junior brokers to develop their skills and knowledge. By working with senior brokers on tenant rep deals, junior brokers can learn about the different aspects of the CRE leasing process, from market research to financial analysis to negotiation.

In today’s challenging CRE landscape, tenant representation presents a valuable opportunity for CRE principals and senior brokers. By embracing tenant rep, you can generate new business, offer opportunities to your junior brokers, support local businesses, diversify your revenue streams, establish lasting client relationships, and ultimately create a more diverse deal pipeline.. As the industry continues to evolve, embracing tenant representation can be a game-changer for your brokerage’s success.

OfficeSpace.com partners with Lendio to make capital more accessible for small businesses.

According to the Small Business Administration (SBA), 99.9% of businesses in the United States are small businesses. This means that there are over 33 million small businesses in the US. Small businesses are defined as businesses with fewer than 500 employees.

Small businesses play a vital role in the US economy. They create jobs, drive innovation, and boost economic growth. In fact, small businesses employ around 61.7 million workers, making up almost half of all employees in the U.S.

However, small businesses also face many challenges. One of the biggest challenges is access to capital, which leads to many of them failing. Small businesses sometimes don’t have the collateral or credit history to qualify for traditional bank loans. This can make it difficult to finance growth, expansion, or survival. The world of commercial real estate and small business financing is complex and many small businesses seek trusted partners to help guide them towards their goals.

OfficeSpace.com and Lendio: providing support to small business growth.

OfficeSpace.com has a long-time partnership with Lendio, a leading small business loan marketplace. Whether you’re searching for your first commercial space or looking to expand your business, OfficeSpace.com.com and Lendio are here to support your success.

Who is Lendio?

Lendio is a small business loan marketplace, with a large network of highly-vetted lenders and financial products. With a single free application, you can compare loan products and lenders, and get custom funding offers suited to your business needs. Applying with Lendio does not hurt your credit score, and is obligation free. 

When you apply through Lendio, you’re assigned a dedicated personal funding manager who will ask about your needs, walk you through different loan options, and help you choose the perfect small business loan.

You won’t have to deal with brokers, banks, or convoluted financial jargon. Lendio keeps it simple so you can make informed decisions and find financing fast.

Why OfficeSpace.com chose Lendio

With over a decade of experience in small business lending and 20,000+ TrustPilot reviews, small business owners trust Lendio with their business financing needs. Lendio has helped secure capital for over 350,000 small businesses just like yours.

What financial products are available with Lendio?

Whether you’re looking to fund your next commercial office space, or something else related to expanding your business, Lendio can match you to the right lenders and help you compare offers.

 These are the most common financial products small business owners choose with Lendio:

  • SBA Loan
  • Business Line of Credit
  • Business Term Loan
  • Business Cash Advance
  • Accounts Receivable Financing
  • Equipment Financing
  • Commercial Mortgage

 

How do I get started?

Click here to get started with your application. Lendio’s in-house customer support team is available to help with any questions you may have throughout the process.

Learn more about Lendio here: www.lendio.com

Exploring commercial leasing. Expanding your commercial real estate business.

Exploring commercial leasing. Expanding your commercial real estate business.

The commercial real estate (CRE) market is constantly evolving, and businesses that don’t adapt to change are likely to miss out on opportunities. One of the most important trends in CRE today is the growing demand for leasing services.

In 2023, businesses of all sizes are still leasing commercial space. Small businesses are leasing space to accommodate their growth, while large businesses are leasing space to expand or scale back their operations.

Modern demand for leasing

There are several reasons why businesses lease commercial space. Small businesses often lease space because it’s a more affordable option than buying. They also don’t have to worry about the upfront costs of renovations or maintenance.

Large businesses lease space for a variety of reasons. They may need to expand their operations into a new market, or they may need to consolidate their operations into a single location. These large businesses may also be looking for a more flexible lease that allows them to adjust their space needs as needed.

Commercial real estate professionals who serve leasing have long been using the demand for leased commercial space to bolster their businesses, many building entire careers and businesses around tenant representation. In the last six months we’ve seen growing demand for commercial space for lease in markets such as: Phoenix, Los Angeles, San Diego, Seattle, Orange County, Harris County, Miami, and Las Vegas.

If your CRE business doesn’t serve leasing, you’re missing out on a major opportunity to generate revenue and grow your business. Here are a few tips for incorporating commercial leasing into your business:

Target the right clients. 

Not all businesses are looking to lease commercial space. Focus your efforts on tenants that are actively looking to lease, such as small businesses that are growing or large businesses that are expanding or consolidating.

Build relationships with landlords.
Landlords are a valuable resource for finding commercial space for your clients. Get to know the landlords in your market and build relationships with them. These relationships can be mutually beneficial for years to come and continually generate recurring business as tenants cycle over time.

Use technology to your advantage. 

There are a number of online tools that can help you find commercial space and manage leasing transactions. Use these tools to streamline your workflow and improve your efficiency.

OfficeSpace.com has unique solutions designed to help you expand your business and grow your lead pipeline. Click here to learn more about our solutions for CRE pros serving leasing.

Who can serve the demand for commercial leasing?

There are many different types of businesses that can serve the demand for commercial leasing.

Tenant rep brokers specialize in representing tenants in lease negotiations. They help tenants find the right space for their needs and negotiate the best possible terms.

For sale CRE brokers who are looking to expand their business can also serve the demand for commercial leasing. They can use their knowledge of the market to help tenants find space and negotiate leases.

Residential brokers with commercial spaces for lease can also get involved in commercial leasing. They can use their network of contacts to find tenants for their commercial properties.

Find a network that works for your success.

Brokerage networks can be an excellent way to make new connections and help build stronger businesses. CORFAC’s Jonathan Salk says” we want good, quality people”. A true testamant to the types of relationships CRE pros can build within brokerage networks.  While connecting with like minded professionals alone won’t double your business overnight, the sharing of best practices and knowledge is another excellent advantage brokers can take advantage of. You can learn more about CORFAC by visiting their website here.

How to get started in leasing.

If you’re interested in getting started in commercial leasing, here are a few things you can do:

Get your first commercial lease. 

This will give you experience and build your confidence. You can start by working with a tenant rep broker or a for sale CRE broker who has commercial leasing experience.

No lead left behind

Be willing to serve any commercial lead that comes your way. Often, businesses looking for a small commercial lease will return when it comes time to expand. Build your network by helping tenants to find the perfect space and helping owners fill their spaces.

Position yourself as an expert

Be the leading CRE pro in your market by serving for sale and for lease (because your competitors don’t). This will make you more valuable to clients and help you attract more business over time as your network grows.

Key opportunities in commercial leasing

There are a number of key opportunities in commercial leasing including:

  • Unlock new revenue streams. Commercial leasing can be a very profitable business. By incorporating commercial leasing into your CRE business, you can tap into a new revenue stream and grow your business.
  • Lots of low cost tools to help you succeed. There are a number of low cost tools available to help you with commercial leasing. These tools can help you streamline your workflow and improve your efficiency.
  • Position yourself as an expert in your market and own your position in you market. By serving the demand for commercial leasing, you can position yourself as an expert in your market and attract more business.

 

If you’re looking to grow your CRE business, commercial leasing is a great opportunity. By following the tips above, you can get started and start generating revenue today.

A guide to navigating business financing. Small business loans simplified.

Starting or running a small business is a big undertaking, but it can also be incredibly rewarding. However, one of the biggest challenges that small business owners face is financing. Whether you need money to start your business, expand your operations, or purchase equipment, there are a variety of financing options available to you.

The right financing option for you will depend on your specific needs and circumstances. For example, if you are a first-time entrepreneur with limited collateral, you may need to consider a government-backed loan or a microloan. If you have a good credit score and a solid business plan, you may be able to get a traditional bank loan. You may also want to consider alternative financing options, such as peer-to-peer lending or crowdfunding.

It is important to compare different financing options before you choose one. Consider the interest rate, the repayment terms, and the fees associated with each option. You should also make sure that you understand the terms and conditions of the loan before you sign anything.

There are a few things you can do to increase your chances of getting approved for financing. First, make sure that you have a strong business plan. This will show lenders that you have a viable business and that you are a good risk. Second, have good credit. A good credit score will make you more attractive to lenders. Finally, be prepared to provide collateral. Collateral is something of value that you can pledge to the lender if you default on the loan.

Whether you are a small business owner who is leasing or owning your commercial space, there are a number of different types of small business loans that can help you finance your office needs. Here is a more detailed overview of some of the most common types of small business loans:

Types of Small Business Loans

SBA Loan

The Small Business Administration (SBA) offers a variety of loan programs to small businesses, including loans for real estate, equipment, and working capital. SBA loans are typically easier to get than traditional bank loans, and they often have lower interest rates.

The most common SBA loan program for financing office space is the SBA 7(a) loan. This loan can be used to purchase or lease commercial real estate, as well as to purchase equipment and other business assets. SBA 7(a) loans have a maximum loan amount of $5 million, and they can be repaid over a term of up to 25 years.

To qualify for an SBA 7(a) loan, your business must meet certain requirements, such as having a good credit score and a sound business plan. You will also need to make a down payment of at least 10% of the loan amount.

Some examples of situations when a small business might consider an SBA loan:

  • To purchase a commercial building.
  • To lease a commercial space.
  • To renovate a commercial space.
  • To purchase equipment for their office.
  • To cover the cost of moving into a new office space.

OfficeSpace.com partners with Lendio to provide you with business financing options. 

OfficeSpace.com has a long-time partnership with Lendio, the nation’s leading small business loan marketplace. Whether you’re searching for your first commercial space or looking to expand your business, OfficeSpace.com.com and Lendio are here to support your success.

Lendio is a small business loan marketplace, with an extensive network of highly-vetted lenders and financial products. With a single free application, you can compare loan offers and choose the right financing for your business. You won’t have to deal with brokers, banks, or convoluted financial jargon. Lendio keeps it simple so you can make informed decisions and find financing fast.

Click to learn more about business financing options with Lendio.


Business line of credit

A business line of credit is a revolving loan that you can use as needed. This type of loan is ideal for businesses that need access to short-term financing for things like unexpected expenses or seasonal fluctuations in sales.

Business lines of credit typically have a credit limit, which is the maximum amount of money you can borrow. You only pay interest on the money you actually borrow, and you can repay it at any time.

Here are some situations when a small business might consider a business line of credit:

  • To cover unexpected expenses, such as a sudden increase in rent or utilities.
  • To meet seasonal fluctuations in sales.
  • To finance a short-term project, such as remodeling their office space.

 

Business Term Loan

A business term loan is a fixed-rate loan that you repay over a set period of time. This type of loan is ideal for businesses that need to finance a major purchase, such as equipment or real estate.

Business term loans typically have a longer repayment term than business lines of credit, such as 5 to 10 years. They also have a fixed interest rate, which means that your monthly payments will be the same each month.

Here are some situations when a small business might consider a business term loan to finance commercial space:

  • To purchase commercial real estate.
  • To purchase equipment for their office.
  • To finance a renovation of their office space.

 

Business Cash Advance

A business cash advance is a short-term loan that is typically repaid within a few weeks or months. This type of loan is often used to cover unexpected expenses or to meet payroll.

Business cash advances typically have high interest rates and fees, so they should only be used as a last resort.

Here are some situations when a small business might consider a business cash advance:

  • To cover unexpected expenses, such as a sudden increase in rent or utilities.
  • To meet payroll if there is a delay in receiving payments from customers.
  • To finance a short-term project, such as remodeling their office space.

Accounts Receivable Financing

Accounts receivable financing is a type of loan that uses your unpaid invoices as collateral. This type of loan can be a good option for businesses that have a lot of outstanding invoices.

With accounts receivable financing, the lender will advance you a percentage of the value of your invoices. You will then repay the loan, plus interest, as your customers pay their invoices.

Here are some situations when a small business might consider accounts receivable financing:

  • To cover a temporary cash flow shortage.
  • To finance a purchase of inventory or equipment.
  • To meet payroll if there is a delay in receiving payments from customers.

Equipment Financing

Equipment financing is a type of loan that is used to purchase equipment. This type of loan can be a good option for businesses that need to upgrade or replace their equipment.

Equipment financing typically has a term of 3 to 5 years. The interest rate will depend on your credit score and the type of equipment you are financing.

Here are some situations when a small business might consider equipment financing:

  • To purchase new office furniture.
  • To purchase new computers or other electronic equipment.
  • To purchase machinery or equipment for their manufacturing or production process.

Commercial Mortgage

A commercial mortgage is a loan that is used to purchase or refinance commercial real estate. This type of loan is typically for a longer term than other types of small business loans, such as 10 to 20 years.

Commercial mortgages typically have a fixed interest rate, which means that your monthly payments will be the same each month.

Here are some situations when a small business might consider a commercial mortgage to grow or expand operations:

  • To purchase a commercial building.
  • To refinance an existing commercial mortgage.
  • To expand their office space.

 

When choosing a small business loan, it is important to consider your specific needs and circumstances. Some factors to consider include the amount of money you need, the length of time you need the money, and the interest rate. You should also compare the terms and conditions of different loans before you choose one.

If you are a small business owner who is considering financing your office space, it is important to talk to a lender to learn more about the different types of loans that are available. A lender can help you determine which type of loan is right for your business and can help you get the financing you need to grow your business.

Here are some additional tips for small business owners who are considering financing their office space:

  • Do your research. Before you apply for a loan, it is important to do your research and understand the different types of loans that are available. You should also compare the terms and conditions of different loans before you choose one.
  • Get pre-approved. Getting pre-approved for a loan can give you a better idea of how much money you can borrow and what the terms of the loan will be. This can help you negotiate better terms with the lender.
  • Have a good credit score. A good credit score will make it easier to get a loan and will get you better terms.
  • Prepare a strong business plan. A strong business plan will show the lender that you have a viable business and that you are a good risk.

 

By following these tips, you can increase your chances of getting the financing you need to finance your office space and grow your business.

 

Success in the 2023 commercial real estate market. How to step up to today’s challenges and build a stronger business.

OfficeSpace.com + CORFAC in our latest blog

The commercial real estate market is constantly evolving, and brokers need to be prepared to adapt in order to succeed. In what remains of 2023, there are a number of challenges that brokers will continue to face, but there are also a number of opportunities to capitalize on. We were lucky to sit down with Jonathan Salk, the CEO of CORFAC International and talk all things CRE, and how CORFAC continues to help professionals build better businesses and lead commercial real estate into the future.

Anyone in commercial real estate knows that the current climate is saturated with challenges and that the past months have been a tough time to weather the storm, much less grow business. A few key challenges we see include interest rates, inventory, and technology’s influence on CRE sales.

 

Challenges Facing Brokers in the Current Climate of CRE

Rising interest rates and current the lending environment: 

The Federal Reserve is expected to continue raising interest rates in 2023, which will make it more expensive for businesses to borrow money to buy or lease commercial real estate. This could lead to a decline in demand for commercial real estate, which would make it more difficult for brokers to find buyers or tenants for their clients.

Low inventory: 

The commercial real estate market is currently experiencing low inventory, which means that there are fewer properties available for sale or lease. This makes it more difficult for brokers to find properties that meet the needs of their clients, and in some cases even lead to bidding wars and higher prices.

Need to grow business amidst challenging external conditions: 

The time is now… With challenging economic conditions expected to continue, simply sitting back and weathering the storm is not an option for CRE pros that want to succeed. No doubt, the broader challenges of 2023 are making it more difficult for brokers to grow their businesses. Brokers will need to be creative and strategic in order to find new clients and generate leads. 

Changing demographics: 

The demographics of the workforce are changing, with more people working from home and fewer people commuting to traditional office jobs. This is changing the demand for commercial real estate, and it is making it more difficult for brokers to predict where the market is going. 

Office is perhaps the most turbulent sector of CRE – Click to read: Is the foundation of the office sector crumbling? The future of the office – and what’s to come of the office space.

Competition from online platforms: 

Online platforms are making it easier for businesses to find commercial real estate without the help of a broker. This is cutting into the profits of brokers and making it more difficult for them to compete. It should be noted that many online resources ultimately end with connecting a broker at some point in the cycle but the impact and importance of online CRE tools and marketplaces cannot be ignored.

The need to invest in technology: 

commercial real estate as a whole has been relatively slow to adopt technology. Many seasoned veterans of the CRE world still do things “the old way” with great success. In some cases this results in resistance to implementing technology solutions which can be costly. The need to balance growth with profits and smooth operations must be considered as brokers and brokerages alike prepare to take their businesses into the years ahead.

 

Capitalizing on opportunity today to evolve your business for tomorrow.

Despite the challenges facing the CRE market in 2023, there are also a number of opportunities for brokers to capitalize on. By understanding these trends, challenges and opportunities that lie ahead, brokers can position themselves for success in the year ahead

Here are a few specific tips for capitalizing on opportunities in the CRE market in 2023. Getting connected with a brokerage network such as CORFAC is just the beginning.

Focus on niche markets: With the overall commercial real estate market becoming more competitive, it is important for brokers to focus on niche markets where they can develop expertise and build relationships.

Get involved in the community: Brokers who are active in their communities are more likely to be successful, as they will be better connected to potential clients and partners.

Stay up-to-date on industry trends: Brokers who stay up-to-date on the latest industry trends will be better equipped to capitalize on opportunities.

Use technology to your advantage: Technology can be a powerful tool for brokers, as it can help them to automate tasks, connect with clients, and market their services.

Be creative and strategic: In a challenging market, it is important for brokers to be creative and strategic in order to find new clients and generate leads.

 

Benefits of Brokerage Networks

In order to succeed in the changing CRE market, brokers need to be connected to a strong network of other brokers. Brokerage networks come in all shapes and sizes and can offer great resources for savvy brokers and brokerages looking to level up their business. 

According to Jonathan Salk, CEO of CORFAC International, “people join networks like CORFAC because they want to do business…But, at the end of the day, they want to see results.”. In this case, the results often come in the form of stronger relationships and more robust businesses better prepared to scale and take on new opportunities.

 

Brokerage networks provide brokers with a number of benefits, including:

  • Access to a wider pool of clients: Brokerage networks can give brokers access to a wider pool of clients, which can lead to more deals.
  • Shared resources: Brokerage networks can share resources, such as marketing materials and databases, which can save brokers time and money.
  • Support and training: Brokerage networks can provide brokers with support and training, which can help them to improve their skills and knowledge.

 

Capitalizing on Opportunities

While these are simple examples of how brokerage networks enable brokers to succeed, the real value lies in the finer details. Salk adds “it’s the sharing of best practices and honestly, we do that.”. He continues to give examples of some of the ways CORFAC strives to not only keep their members connected but push them to excel such as: one-on-one connections with top economists and member conferences. All aimed at adding value beyond just the network of professionals that make up CORFAC’s membership.

When asked if CORFAC’s focus is surrounded by the mentality of “better together” whether in the form of shared insights or connecting deals Salk added, “they know they’ve got people like them in 70 offices around the world. And they know if they refer a client to another office, anywhere in the world, that they’re going to get the same service”.  Not only do CORFAC members get access to one and other and enjoy the benefits of their network, but there is also value in the principals that have guided CORFAC’s success for over 30 years. 

“CORFAC is 34 years old this year. And it was founded by a small group at a conference years ago. And here we are 34 years later, as strong as ever, and basically operating on the same principles.” CORFAC’s CEO continues “They wanted to maintain their name and independence. They didn’t want to give that up. The most important thing [was] they wanted to be independent, but part of something bigger than they are. You can do business outside the network. We always preach CORFAC first, but if someone’s got a requirement and they’ve dealt with someone in another market that they’re just more comfortable with, they can do that. I mean, that principle has held.”. He adds “Corefac headquarters never gets a piece of the deal. That I don’t think you’ll find that anywhere else.”.

CORFAC’s global commercial real estate brokerage network is composed of collaborative, entrepreneurial firms that offer unmatched service to clients and provide in-depth local market expertise. You can learn more about CORFAC International by visiting www.CORFAC.com

The CRE market is constantly evolving, and brokers need to be prepared to adapt in order to succeed. By understanding the challenges and opportunities that lie ahead, brokers can position themselves for success in 2023 and beyond.