Proptech Firm Could Resolve Growing Vacancy Rates

Swivel, a proptech company, is being used by real estate owners across the U.S. to help alleviate growing vacancy rates through its visualization capabilities.

A proptech platform called Swivel is being hailed by real estate owners in Chicago as a solution to growing vacancy rates.

Swivel is a tool that gives tenants, designers, and architects a visual that makes collaborating with a building’s owner much easier, as well as providing tenants with a 3D tour of office space using its virtual tours system.

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The company’s planning tool also allows tenants to visualize and test out different layouts to ensure the space meets their needs.

Commercial real estate platform Swivel is currently operating at 16 different properties after partnering with eight landlords in Chicago, where vacancy had risen 18% during the pandemic.

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Swivel has expanded to over 100 million square feet across the U.S.

“The dynamic, immersive nature of virtual tours present a unique opportunity to expand reach while offering a safe and highly detailed experience,” said Scott Harmon, CEO of Swivel. “We’ve seen this combination deliver terrific value to our customers time and time again, particularly in the kinds of high-density, tier-one buildings that populate Chicago’s downtown.”