NEW YORK, June 9, 2021 /PRNewswire/ -- SquareFoot, a new kind of commercial real estate company that helps companies solve their office space needs by leveraging technology, has continued its growth amidst the single largest workplace disruption in modern history with its recent acquisition of the coworking and private workplace company Upsuite.
The acquisition comes on the heels of SquareFoot's expansion into two new markets across the U.S., with the addition of office locations in Los Angeles and Houston. The New York City-based company began shaking up the market before the pandemic took hold and is continuing its mission recognizing the increasing need and desire for flexible lease term solutions across geographies that capture tenant demand and servicing requirements for a multitude of options. SquareFoot had been leading a market shake up before the pandemic took hold.
Upsuite will support SquareFoot in its ability to quickly scale and serve tenants with flexible office requirements across 40 markets in the United States and Canada, and will add to SquareFoot's growing portfolio of flexible office space solutions, having acquired PivotDesk - a shared office space marketplace - in February 2019.
Upsuite will operate as a subsidiary of SquareFoot and will continue to be run by the company's Founder and CEO, Ben Wright.
"We were impressed by SquareFoot's fantastic leadership team and its ability to provide digital solutions to a traditional real estate industry through leading automated demand aggregation tools," Wright said. "Together, SquareFoot and Upsuite can now offer an even more robust portfolio of office solutions across the traditional, coworking, and shared space spectrum."
"The acquisition of Upsuite was in response to the changing office space market in 2020," said SquareFoot Founder and CEO Jonathan Wasserstrum. "Upsuite will serve tenants looking for office lease flexibility, smaller private spaces or coworking options that, when combined with our additional solutions through PivotDesk and FLEX, will position SquareFoot as a market leader for office space flexibility."
SquareFoot's hiring of veteran brokers across new offices in LA, Houston and NYC, paired with its powerful technology and flexible office space options, allows the company to take advantage of the accelerating recovery in office space demand and to reshape the future of work space in a post pandemic world.
About SquareFoot Founded in 2011, SquareFoot is a new kind of commercial real estate company that helps companies solve their office space needs, providing transparent access to inventory, brokerage services, and flexible space offerings. SquareFoot also provides top-of-the-line lease consultations, advises on subleasing spaces, works closely with and recommends reliable vendors to ensure a seamless move, and more. SquareFoot's veteran brokers always put clients' needs first. SquareFoot's online platform features over 300,000 office listings, with 5,000 new listings posted monthly. The company has executed over 1,500 leases to date. SquareFoot is headquartered in New York City, and also serves 30 other national big-city markets.
About Upsuite Founded in 2018, Upsuite is a marketplace of coworking offices that helps leaders at growing technology and services companies who need to find and secure an office that is convenient for employees and clients, meets their budget, allows for growth or change in their team, and which requires little time and expense to secure.
Upsuite provides the easiest way to find, evaluate, and secure the coworking / flex office at the location, price point, and terms that teams want. Upsuite removes surprises and saves users time in their search by providing 99% of the market inventory, actual suite availability and pricing, all before they tour. If teams book through Upsuite, their membership also comes with exclusive discounts, and a 100% satisfaction guarantee.
Upsuite Verified Operator Partners gain access to a steady stream of the most interested companies and corporate teams, all at no risk or up front cost. Working with Upsuite maximizes their revenue, minimizes their sales and marketing risk, and ensures that they will have the kind of profitable members who will help their coworking business thrive.
Commercial real estate advisors utilize Upsuite's network of Coworking Advisors to help find short-term coworking space for their clients.