Leasing Office Space, Simplified: HiRise Introduces Commercial Real Estate's First Online, Transactional Marketplace
March 27, 2014 - WASHINGTON, DC
WASHINGTON, DC--(Marketwired - March 27, 2014) - The commercial real estate industry hasn't kept up with the changing needs of real estate consumers -- businesses of all sizes demand choice, transparency and flexibility. Even the largest companies seek the flexibility to enter and exit locations as market conditions change. This traditional market structure has created a barrier between tenant demand and vacant landlord supply.
Enter HiRise, the first online, transactional marketplace for commercial real estate, designed to change how people access and lease commercial real estate. This revolutionary marketplace connects tenants with available office space and gives landlords a platform to monetize and fill vacant space. The entire process -- from search to lease -- is completed within the platform, marking the first time online transactional technology has been applied to the commercial real estate industry's traditional brokerage model.
Today, the platform is opening for initial landlords and tenants interested in leasing space in the Washington D.C. area, with eventual plans to expand U.S. locations. HiRise (www.gohirise.com) is scheduled to officially launch in May 2014.
In the United States, more than 500,000 tenants occupy office spaces that are less than 5,000-square-feet. In the Washington D.C. metro area, small tenants outnumber large tenants three to one; yet, more than 46-million-square-feet of small space remains vacant because the traditional leasing policies cater to large tenants.
"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."
Created by a team of experienced real estate pros, including Adams, Andy O'Brien and Alex Lassar, HiRise combines their deep understanding of the commercial real estate market with a network of industry contacts to streamline commercial real estate transactions. By increasing a potential tenant's access to ideal spaces HiRise empowers tenants through greater choice, flexibility and speed to 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."
To learn more about HiRise, or for landlords and tenants interested in leasing office space in the Washington D.C. area, visit http://gohirise.com.
Launching in May 2014, HiRise is the first online, transactional marketplace for commercial real estate. It's leasing made simpler, by quickly connecting tenants with available office space and making it easier for landlords to monetize and lease vacant space. HiRise is powered by JLL. Learn more about HiRise at http://gohirise.com.
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