Close Encounters of the CRE Kind.

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The OfficeSpace team had the pleasure of hosting it’s first home town event for the CRE community in Seattle this past week. It was an intimate evening with an open format for answering questions on our broker services, product demonstrations, all of course while engaging with everyone on the latest commercial real estate talk in the Pacific NorthWest.

Perhaps the most surprising comment of the evening was how fantastic it was to speak with our team in person. More than once we heard “How often do you get to speak to a website face to face?”.  Being in the internet game with our heads down, working hard to make our site as efficient and user-friendly as possible for both the broker and the tenant communities, we sometimes forget how important that face time really is.

It’s a recurring theme in the tech start-up community as we “Eat. Sleep. Breath.” with our computers  and our “Eat. Drink. Learn” event was a great reminder to stop, drop everything and talk…in person.  We look forward to continuing this trend as we grow and continue to answer your questions – face to face, over the phone and of course, online.

A generous thank you once again to our sponsors, Gateway Construction and Complete Office Furniture who provided some fantastic give-aways and support of the evening.

We even managed to snap a few shots of the evening’s festivities as posted below.


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2013 Didn’t Bring An NBA Team to Seattle, But It Did Bring…

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What does Seattle have?  A thriving start-up community and established technology hub, world renowned coffee, an infamous independent music scene, a top ranked NFL team, the lush green of the Pacific NorthWest and so much more.

Sadly, 2013 did not bring back an NBA team, but there is a game changer in town. OfficeSpace.com’s long awaited new platform is about to change the way players in the commercial real estate arena engage with clients.

In fact, businesses and commercial real estate pros now have a new online stadium with OfficeSpace.com’s improved site and service for the Seattle market.

Since launching its new service 18 months ago, OfficeSpace.com has served thousands of tenants looking to lease office, retail and industrial spaces.  OfficeSpace.com allows tenants unrestricted searches of its comprehensive database with over 27,000 properties, at no charge, something typically not done in the traditional commercial real estate world.

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Today, we are proud to launch our free service in our home market of Seattle.  “We felt this was a great time to launch as the business community is thriving and there are a lot of eyes on Seattle right now.” says Susie Algard, CEO. 

Businesses can now search from over 7,000 available listings in the Greater Seattle area. We expect the number of tenants coming to access these listings will grow quickly, as we are the city’s only commercial real estate site offering this type of platform.

The new site has a clean design aesthetic with an intuitive, user-friendly map based search, photo rich listings, and advanced search filters, all of which were created to make the tenant search experience much more engaging and efficient.

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“With today’s launch, we are excited to be bringing more qualified tenants to the broker community.” says Algard. OfficeSpace.com’s new site was designed with these relationships in mind. The commercial real estate audience can benefit from several complimentary marketing tools, including nationwide tenant rosters, a no-software flyer creator, comprehensive market surveys, and upgraded property listings.

So, while the city sits waiting patiently for another opportunity to bring back the NBA, we’ll continue to up our game to better serve the Seattle market. We’re no substitute for a basketball team but we’re practicing our virtual jump shots none the less in hopes of a CRE MVP title.

OfficeSpace.com is now serving Seattle, Denver, Portland and San Diego with upcoming markets on the horizon.

“Good Fortune Comes to San Diego Commercial Real Estate Community…”

 

San Diego, CA Friday November 9, 2012 – Commercial Real Estate’s latest game changer, OfficeSpace.com, is now officially available in the San Diego market targeting both brokers and tenants.

The company’s unique position to be the next generation, all access platform for office space aims to streamline the commercial real estate process.                                 

Having already garnered attention for their creative introductions in each market,  San Diego is no different with over 600 custom gourmet fortune cookies sent to the majority of brokerages through out the community with varying personalized fortunes.

OfficeSpace.com offers a multitude of services targeted to assisting brokers; landlords and property managers connect to tenants. The broker-and-landlord-to-tenant service is completely free for brokers and landlords to list. It also includes an extensive suite of free, timesaving tools created specifically for today’s market with options to design flyers, create surverys and communicate with tenants. Tenants are offered full complimentary access right at their fingertips with user specific designated search options, map functionality, social media sharing tools while also providing helpful tips on the confusing aspects of leasing.

“We are excited about providing service in San Diego. Tenants now have access to the  information they need to make better decisions about their businesses. We also provide a robust tool set for brokers in order to compliment their marketing efforts and connect them to tenants.” – Susie Algard – CEO, OfficeSpace.com
About OfficeSpace.com

OfficeSpace.com’s innovative service will help add great value to the San Diego Commercial Real Estate Market. Other markets include Denver, CO and Portland, OR. To add a listing, find an office or find out more visit OfficeSpace.com

History OfficeSpace.com

Experienced internet entrepreneurs Susie and Alex Algard purchased OfficeSpace.com in late 2010. Frustrated by some of the trial and tribulations of their own experiences trying to find office space for companies they were involved in, they decided it was time to make a change in the commercial real estate space. Susie, CEO of OfficeSpace.com, was previously a senior executive and founding member at WhitePages.com, a top 30 internet property.
OfficeSpace.com also operates one of the leading commercial real estate marketing and analytics services in Seattle, Portland, Denver, Minneapolis, Cincinnati & Columbus.

OfficeSpace.com’s Seattle Office Market Q2 Quarterly Report

OfficeSpace.com released its Seattle Office Market Q2 Quarterly Report today to a steady market and significant office expansions.

Vacancy rates have remained steady rising slightly from 14.4% in Q1 to 14.5% in Q2 while rental rates increased slightly from $25.83 to $26.38 respectively.

The biggest change in Seattle is the anticipated major office expansion from Amazon.com in the Denny Regrade neighborhood. This expansion is expected to add 3,000,000 square feet of class A office space. Additionally, Seattle mayor Mike McGinn has proposed increasing the office tower limit to 240 feet, up from the current 124 feet in South Lake Union.

To purchase this report for more information on major expansions and a breakdown of absorption rates by submarket, please contact John Heimbigner at heimb@officespace.com.

Commercial Real Estate Start-Up Reinvents the Way Business Owners Search for Space

Contact:

Ninette Cheng

Marketing Coordinator, OfficeSpace.com

office: 206.686.4545 | Ninette@officespace.com

June 13, 2012

OfficeSpace.com knows a change in commercial real estate technology is coming— in fact, they’ve known and are readying to launch their free broker and landlord-to-tenant service in its second market.

After its successful beta launch reaching 24,000 tenants, connecting 350 tenants to brokers and landlords and covering 186 million square feet of space in Portland, Ore. OfficeSpace.com officially launches its new service, starting with Denver, Colo. on June 13.

“As an entrepreneur, finding the right space was always more difficult that I anticipated,” CEO and Founder Susie Algard said.  “The system of waiting for someone to call you back just to give you the space details or rate information is highly inefficient.  All of the tools were focused on people who were familiar with commercial real estate, not for people who only need to find space once every few years.”

In Denver, OfficeSpace.com currently covers over 172 million square feet of space and over 3,000 buildings available for tenants to search.

The days of expensive broker-to-broker subscription services are behind.

“By providing open access to details on an office space, we are helping all business owners during their research phase,” Algard said. “In particular, we are serving an audience whose needs are currently not sufficiently met – small business owners.  It’s difficult for brokers to make small requirements profitable, but we have created tools to help them directly with that.  We connect qualified tenants to brokers for free.”

OfficeSpace.com’s website offers free viewings and listings and social media tools for sharing. The company most recently launched a free Broker Tools suite for brokers to create flyers, surveys and communicate with tenants.  It also features photo-friendly interface and information on the confusing aspects of a lease for tenants.

About OfficeSpace.com

OfficeSpace.com is a start up with the goal of creating an efficient marketplace connecting tenants with landlords and brokers.  The company, purchased by Internet entrepreneurs Susie and Alex Algard, launched it’s new beta service launched in Portland in January 2012 and to date, has serviced over 350 tenants looking for space.  OfficeSpace.com also operates one of the leading commercial real estate marketing and analytics services in Seattle, Spokane, Denver, Minneapolis, Cincinnati and Columbus and can be found at www.officespace.com.

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PDX Small Space Success!

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With our recent Beta Launch of OfficeSpace.com, we would like to share a successful lease story.

Timeline:

  • Jan 31, 2012, space was fully leased.
  • Feb 1, 2012, received a 30 day notice from her existing tenant.
  • Feb 1, 2012, posted  her listing with OfficeSpace.com.
  • Feb 2 to 13, 2012, received her leads & tour requests from OfficeSpace.com.
  • Feb 14, 2012, found new tenant, signed a lease, move-in date 3/1/2012 and no lost revenue days!

Client’s comments:

“I got significantly more inquiries through your site than I did via Craigslist or posting flyers, so I’m definitely happy with the experience!” – SLG

Is Portland LEEDing the Sustainability Race?

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We all hear about the ‘Greening’ of our office buildings across the country and Portland, Oregon, is certainly no exception. With more and more national press spotlighting Portland, Portlanders are justifiably proud of their majestic city.

The General Automotive Building located at 411 NW Park Avenue, in the heart of the Pearl District in Portland is one of many local showpieces for the core principles of Green Design and Construction. The building is striving to earn LEED Platinum Certification, which will further reinforce Portland’s reputation as the nation’s leader in sustainable urban development.

This remodel of a 1930s building blends the charm of tradition and sustainability of a modern, efficient Green Building.  The remodel allows for increased water and energy efficiency, and a superior work environment in terms of indoor air quality, natural light, design and construction quality. The design team at ConoverBond worked with the existing structural systems, column bays, operative windows and the original brick walls to preserve as much of the original structure as possible.

This is one example, but would love to see and hear from you…what are some of your other favorite green building remodels?  Post your comments here or check out our Pinterest Boards and let’s reinforce the LEED!

Rates don’t improve, but vacancy rates show good growth in Seattle office space market

The year ended on a high note for the Seattle office space market in 2011.  Net absorption for 2011 ended just over 1.6 MM sq.ft, almost double the net absorption for 2010.  2011 also marked the best year since a high of 2006 that ended in a little over 3 MM sq. ft of net absorption.

While the overall vacancy rate for the Seattle market didn’t change dramatically over 2010, there is a good story once you dive into the details.  We ended Q4 2011 with 14.8% vacancy in the Seattle office market compared to 15.3% in Q4, 2010.  And while the changes don’t appear significant, there’s a story going on in the Downtown submarket.  Last quarter, several significant leases were closed with Amazon taking 386,000 sq. ft. and a total of over 800,000 sq. ft.  The impact of these leases definitely showed up when we looked at the Downtown area vacancy rates which dropped to 12.9% this last quarter compared to 15.1% in Q4 2010.

Average rental rates remained fairly steady for all of 2011 ending the year at $25.80 per sq. ft slightly lower than the $25.89 in 2010.  However, as the supply and demand paradigms shift due to lower office space availability, particularly of larger spaces in the Downtown area, we would anticipate this to have a positive impact on rental rates.