Tech-enabled commercial brokerage firm continues its national expansion by announcing four new market launches accompanied by several key veteran brokerage hires.
TenantBase, a tech-enabled commercial real estate brokerage, announced on Tuesday its latest multi-market expansion with the launch Chicago, Houston, Austin and Fort Worth offices. Headquartered in Santa Monica, CA, TenantBase’s technology-based brokerage now operates in nine major US cities with continued growth and technology initiatives planned for 2019.
The company has scaled rapidly following a mid-2018 fundraise focused on growing its technology and brokerage teams. TenantBase anticipates having over 100 local TenantBase brokers by the end of the first quarter in 2019, compared to 28 in 2018. The increase in brokers coupled with productivity gains from TenantBase’s technology improvements will position the company to continue its strong revenue growth.
Along with the recent expansion, TenantBase announced veteran brokerage hires to head up real estate activities and growth of the TenantBase business model. In Chicago, tenant rep veterans Bob Palffy and Andrew Kelly, formerly with Cresa and Transwestern respectively, will lead TenantBase’s Midwest brokerage operations and continued expansion throughout the region.
“With over 30 years of tenant representation experience and having been a part of a number of different platforms, the opportunity to lead TenantBase's expansion into Chicago and the Midwest was extremely appealing,” said market leader Bob Palffy. “TenantBase's cutting edge technology combined with a knowledgeable advisor talent pool creates a unique experience for its clients. Additionally, teaming with Andrew Kelly, another proven industry veteran I have worked with previously, on our Midwest charge is exciting.”
TenantBase launched offices in Houston, Austin and Fort Worth with similar veteran leadership. Market leaders across the Texas markets include industry veterans Lance McCarthy in Houston, formerly with Studley and head of Mohr partners, Jon Olofson in Austin, formerly Head Global Real Estate Portfolio Manager for Entegris, and Albert Berry in Fort Worth, formerly with Keller Williams Commercial.
“We are absolutely thrilled to add highly respected and accomplished brokers both in leadership and production capacities. We believe this is the start of a golden age in commercial real estate brokerage where AI and machine learning applications will empower brokers to be incredibly efficient in servicing a growing volume of modern tenants. Great brokerage service coupled with best-in-class technology creates the ultimate tenant experience,” said Bennett Washabaugh, TenantBase CEO. “We look forward to continuing our national expansion in 2019.”