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Strategic Alliance May Take REIT Management to Next Level


SpaceList and Common Areas, two outcome-driven commercial real estate software companies, recently revealed the formation of a strategic international alliance to help (building owners, brokers, property/facility managers, tenants and service providers) bridge the gap between leasing a space and maintaining it.

SpaceList, based in Vancouver, is Canada’s leading national, online listing marketplace for commercial real estate. With an emphasis on small to mid-size businesses seeking space, the company’s active listings encompass all major Canadian markets.

Common Areas, a Tustin, CA-based software company, provides an online platform to better organize, schedule & track teams and tasks online at each location with one easy-to-use software that keeps everyone informed, focused and in action 24/7.

Under terms of the alliance, an exclusive membership offer of Common Areas’ Company edition will be made available to SpaceList’s users. Company edition generates more effective maintenance management for teams by leveraging collaboration between building owners, brokers, property/facility managers, tenants and service providers resulting in significant time savings and increased productivity for all involved.

“Increasingly, commercial real estate property owners and those who provide services to them are becoming very interested in the value of using technology to enhance and streamline end-to-end real estate processes, collaboration and reporting,” said Steven Jaffe, vice president of partnerships for SpaceList. “Common Areas and SpaceList offer complementary solutions that are two links in the same value chain.”

SpaceList’s CRE search engine matches tenant needs with a full range of commercial spaces, from shared office and coworking spaces to retail and industrial property. Currently, SpaceList is actively marketing approximately 18,500 listings that represent more than 1 billion square feet of space. In addition to being the conduit between broker, tenant and property owner, SpaceList provides a step-by-step platform for educating tenants on the lease process.

Common Areas takes the maintenance process from chaos to clarity by offering tenants, managers of properties and facilities, and the service businesses that maintain them (landscaping, plumbing, security, janitorial, etc.) an easy-to-use software that allows all parties to work together in one virtual space.

One of the commonalities of the two companies is that each recognized a void in the marketplace that could be bridged through the use of technology. Casey Rue, the founder and CEO of Common Areas, has more than 20 years of experience working in commercial real estate development, and more specifically was responsible for the operations and management of a portfolio of retail properties throughout the US.

“SpaceList and Common Areas both saw firsthand the challenges small businesses face when major corporations are the primary target audiences,” Rue said. “The vast majority of software applications and other important tools weren’t being designed or priced for smaller businesses.”

According to Rue, companies like SpaceList and Common Areas are out to offer solutions to an underserved market, at least in their corner of the commercial real estate world. “The SpaceList/Common Areas strategic alliance enhances both companies’ promise to empower a worldwide workforce to work better, faster, smarter and, perhaps most importantly, together,” he said.

According to Steven, SpaceList was attracted to Common Areas because the company’s software uniquely solves a problem that many of its audiences have—building maintenance.

Rue said Common Areas was attracted to SpaceList for many reasons, including a shared base philosophy that strives to serve the people, and to help all sized businesses find and secure a space that brings their vision to life.