Mr. Will Marks, Equity Analyst of Banc of
America Securities, announces his picks at MIT Center for Real Estate Annual
Symposium in Boston, MA
New York, NY. December 1, 2000
At a symposium sponsored this week by the
Massachusetts Institute of Technology entitled “E-Commerce and Commercial
Real Estate: Business Models that Work”, TenantWise.com was highlighted by
Banc of America Securities analyst Mr. Will Marks as one of five real estate
websites he expects to succeed. Other sites selected by Marks were
Netstructxr, RealPrompt, RealCapitalMarkets and RealCentric. Marks mentioned
his top sites in a keynote address that was part of a day-long seminar
including panel discussions on “Information and On-line brokerage” and
“E-capital”. Mr. Marks established his reputation in the e-real estate space
with the first comprehensive report published in August entitled “B2B
Commercial real Estate: Old-Line or On-line? The Evolution of Cyber
Brokerage”. This report identified nineteen sites out of the dozens online.
These sites were: Cityfeet.com, Comro.com, CoStarGroup.com,
LookingForSpace.com, LoopNet, NAIDirect.com, OfficeSpace.com,
PropertyAuction.com, PropertyFirst.com, RealCentric.com, RealPrompt,
RealtyIQ, RealWired.com, Reis.com, Storetrax.com, TenantWise.com,
TheAskingPrice.com, Zethus.com, and 1031properties.com.
Launched on April 10 of this year, TenantWise.com is the first and only B2B
commercial real estate transaction platform. Over 3000 unique listings
covering all of Manhattan’s neighborhoods are listed on the site by
TenantWise.com. TenantWise.com does not charge landlords or brokers to list
space on the site and as a result, has one of the most complete listings
services available on the world wide web. These listings are free to be
accessed by tenants, brokers and landlords.
TenantWise.com is changing the commercial real estate leasing business the
way on-line brokerage firms changed the process of buying and selling stock.
TenantWise.com offers commission savings to landlords and tenants as a
result of the efficiencies it generates through a streamlined process.
Currently, landlords typically save 20% off a full leasing commission and
tenants save 40%.
By simplifying the occupancy process and restructuring the flow of
commission revenue within the traditional brokerage model, TenantWise.com is
having a dramatic effect in changing a business that has been unchanged for
a century.
TenantWise.com has closed eighteen lease transactions with an aggregate
value of $36MM and is cash flow positive.
| For
further information contact: |
|
M. Myers Mermel
Chief Executive Officer
(212) 943-7777 |
Caroline McLain
Chief Financial Officer
(212) 943-1902 |
|
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