Officebroker.com is rebranding as Officio to move away from the broker model and aid clients in finding long-term solutions, rather than completing short-term goals.
What is SoftBank’s newest real estate venture?
SoftBank’s Vision Fund has invested billions of dollars into real estate technology, including WeWork, Opendoor and others. Now, it’s venturing into a new corner of real estate.
The company said it led a $200 million funding round into Clutter, a storage service company that includes picking up and dropping off user’s items. The investment takes Clutter’s valuation to $600 million.
Justin Wilson, a director at Vision Fund who will join Clutter’s board, said that the company sees real estate as a service and that Clutter is taking great advantage of the U.S. storage market. Other competitors in the storage industry simply offer customers a place to store items for a monthly fee.
The Latest News
Delivered To Your Inbox
Clutter CEO and co-founder Ari Mir said the new investment will give the company a chance to expand in current markets such as Los Angeles, New York and San Francisco, as well as opening up to new cities.
“Ultimately if you’re as long-term focused as we are, working with a partner like the Vision Fund was an ideal match for us,” said Mir. “Whatever dilution that we may have or have not taken as part of this round is nominal as you look at our business over the next few decades.”
Latest on Daily Digest
JLL research revealed that Dallas-Fort Worth is ranked 12th out of the country’s top 15 coworking and flexible space markets, taking up 3 million square feet of space.
Office provider LABS has launched its 96,100 square foot flagship property LABS House in Bloomsbury, London that features coworking, offices, and full-service dining.
Cool office interiors are ideal at first glance, but looking into a company’s principles, such as gender equality and flexibility, will be the factors that retain talent.
Colliers International revealed the success of the office market last year due to high demand for coworking and tech firms, but predictions for 2019 are uncertain.
Shared office space providers as tenants have become the norm for many landlords and building owners, and now many REITs have adopted coworking as it continues to expand.
Brookfield Properties has teamed up with Convene to spruce up the 73,000 square foot Brookfield Place into a full-service events venue that accommodates up to 500 people.
Many coworking operators pride themselves on massive, rampant expansion, but some industry experts believe this growth could lead to failure and consolidation in 2019.