HiRise The First Online Commercial Real Estate Transaction Marketplace
The commercial real estate industry has been lagging behind when it comes to changing the way the operate in this kind of decade, especially with other industry flourishing from the business of all size demand choices, transparency and flexibility, Even the largest of companies find a way to change their ways to enter and exits locations as the market continues to transform. This traditional market structure has created a block between tenants demands and vacant landlord supply. Well, until recently any way.
The very first online transaction marketplace for commercial real estate, named HiRise, has been created to change the way people access their commercial real estate. This life changing marketplace connect tenants with available office space and give landlords a platform to monetize and fill open spaces. This entire process of searching and leasing is done through the platform, making it the very first online transactional technology that has been created specifically for commercial real estate industry traditional brokerage model.
As of now, the platform is open for any landlords or tenants who are interested in leasing a space within the Washington D.C. area, with future plans to expand through other U,S. Locations. HiRise will officially be launched sometime in May 2014.
The United States has been estimated of having more than 500,000 tenants occupying spaces that are less than 5,000 square feet long. The Washington D.C. metro area, small room owner tend to outnumber their bigger living counterparts from a three to one ratio, while more than 46 million square feet of the small rooms tend to remain empty due to traditional leasing policies catering to the much larger ones.
“The vacancy rates for small spaces in D.C. have increased 83 percent since 2009. We wanted to build a solution that lets landlords monetize that dormant space,” said Dave Adams, HiRise co-founder. “HiRise makes leasing simpler by helping landlords adjust to the needs of today’s tenants, including smaller spaces, expedited leasing process and flexible terms.”
This business was created by a team made up of experienced real estate pros, which include Adams, Alex Lassar, and Andy O’Brien, HiRise has the combined knowledge of these professionals who deeply understand the commercial real estate market with a network of contacts within the industry to smoothly run the commercial real estate transactions. By increasing their potential boarder access to idea spaces, HiRise empowers tenants with much greater choices, and speed for occupancy..
“Whether you’re a founder of a high-growth startup or an established business, we know you don’t want to waste time searching for office space,” explained O’Brien. “That’s why we’ve made the process quick, simple and pain-free. For the first time, HiRise provides a direct line between landlords and tenants to process the transaction online. This allows you to spend less time looking for office space and more time getting work done.”