CommercialEdge, a commercial real estate platform powered by Yardi, announced a collaboration with leasing platform TenantBase to provide brokers and tenants with an innovative way to negotiate and sign commercial leases.
Specifically, brokers on CommercialEdge will have access to TenantBase’s commercial space requirements posted by tenants, such as square footage, location and type. Brokers will then be able to filter requirements according to the features of vacant spaces they’re looking to lease. The platform partnership also enables them to submit recommendations of these spaces to tenants with similar needs.
The collaboration aims to streamline the leasing process by directly providing real estate experts with the requirements of tenants actively looking for commercial space for lease — which includes office, industrial, multifamily and retail properties — while also laying the foundation for faster collaboration and negotiation. The feature will initially be rolled out for 10 major commercial markets, with more following suit in 2021.
“This is a great opportunity to help our customers lease their vacant space faster,” said Arjun Rao, director of global solutions at Yardi. “Active Tenants gives our customers a new, proactive way to prospect for the right types of tenants. Leasing agents understand all the ways they can configure space and they don’t want to list every possible option on a website. Understanding the aggregated demand provides powerful insight that can result in significant financial gains.”
CommercialEdge is a commercial real estate platform powered by Yardi that allows brokers to browse extensive data — including information about owners, tenants, transactions and lease terms — for office, industrial, retail and multifamily properties across the nation. Brokers can also create syndicate listings for their commercial spaces within a network that boasts more than 15 million monthly visits.
TenantBase is a tech-driven commercial leasing platform that rethinks the lease process on the tenant side. Through the service, tenants can browse office, industrial, retail, co-working and medical spaces based on their needs, with easy access to professional advice and streamlined negotiation processes.