Biproxi buys out CRE listing site OfficeSpace.com

The acquisition will enable biproxi to aggressively grow its listing business while simultaneously offering and developing innovative broker solutions and tools.

Biproxi, a leading end-to-end commercial real estate platform trusted by the world's largest commercial brokerages, announced that it has acquired OfficeSpace.com.

The acquisition will allow biproxi to consolidate all of its commercial real estate (CRE) data and listings on the OfficeSpace.com website, which is already the second-largest CRE listing site in the U.S. with over 550,000 listings, and is visited by over 350,000 buyers and tenants every month. In addition, OfficeSpace.com has historical data on over 1.7 million listings reaching back over 15 years.

Biproxi CEO Gordon Smith, said:

"We're excited to add OfficeSpace.com to the suite of products and services available from biproxi and to expand their offerings more broadly to the commercial real estate community. This acquisition will allow us to aggressively build on the success that OfficeSpace.com has seen as a listing site, while also continuing to develop a robust set of solutions for brokers under the biproxi brand."

With the OfficeSpace.com acquisition, the company will no longer list properties on its biproxi.com website. That site will now focus exclusively on providing modern, unique and effective tools and services to help brokers save time and money while moving their listings. Biproxi's website features The Shop which consolidates vendors across a wide range of services, including property photography, photo editing, drone services, and data reports into a single e-commerce platform, allowing brokers to order multiple products and services from one site on one invoice, with an easy to use broker dashboard.

Also available on the site is biproxi's Marketing Concierge - a full-service marketing program for listings that runs advanced digital and social media campaigns which drive unique leads directly to the listing broker.

"OfficeSpace.com customers can rest assured that biproxi will maintain the current user experience on the site," Smith noted. "But we also plan to add a broker dashboard and a listing management tool, along with tenant/buyer search capabilities for investment sales and off-market properties to work in concert with the other solutions that the company offers today. We're bringing the best of both worlds together into one robust offering buyers and brokers alike will love."

Susie Algard, Founder and former CEO of OfficeSpace.com says: 

"We are excited that biproxi will continue building on OfficeSpace.com's success. We looked at several alternatives, and based on the stellar track record of biproxi's management team and the complementary fit of our business models, it is difficult to imagine a better strategic outcome."

As part of the transaction, Algard will also be joining biproxi's Advisory Board.

SOURCE biproxi