A tech-based commercial brokerage relocates HQ to Santa Monica amid company expansion

TenantBase focuses on tenant representation for startups and small businesses

TRD LOS ANGELES /
Jul.July 26, 2018 11:00 AM
TenantBase’s co-founders Bennett Washabaugh and Mike Zei, and intersection of Arizona Avenue and Third Street Promenade

TenantBase, a startup commercial real estate brokerage that caters to startups, is growing its operations in Los Angeles.

The boutique firm has relocated to a 3,500-square-foot office space at 225 Arizona Avenue in Santa Monica, The Real Deal has learned.

It’s also tapped Jim Jandro, a former senior managing director at Newmark Knight Frank’s office in the South Bay, to lead the Southern California region, the company announced Wednesday. In his new capacity as principal, Jandro, a 30-year veteran, will be responsible for expanding the firm’s brokerage business.

Within the L.A. office, there are currently seven people on the brokerage team, and 11 in management, according to the firm’s website.

The recruiting push comes a few months after the startup closed a $10.5 million funding round, led by New York-based Stonecutter Capital.

TenantBase caters to the small to mid-sized tenants looking for office space that’s typically less than 5,000 square feet. Its technology-driven platform allows tenants to search for space on its website, and later pairs the tenant with an in-house “adviser” who guides them through the process of touring a space and signing the lease.

The firm’s revenue model is built around extracting commissions from brokerage fees paid by landlords when a tenant signs a lease, said Mike Zei, co-founder and chief operating officer.

Bennett Washabaugh, co-founder and CEO, said the company has a national rollout planned in all major markets. In addition to its operations in Newport Beach, Irvine and Los Angeles, TenantBase already has launched in Atlanta, Dallas, and Nashville.

In recent years, technology has invaded all facets of the real estate business as companies search for ways to remain competitive. It’s proved especially successful in residential real estate, as firms like Zillow and Redfin have increasingly become the go-to places for prospective homeowners and renters.


Related Articles

arrow_forward_ios
From left: Mark McLaughlin and Nick Segal (Credit: Wikimedia Commons, Pacific Union)

Compass SoCal boss Nick Segal steps down

From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

From left: Owen Fileti, and Felipe Gomez

Startup brokerage HelloOffice expands to LA, hires former top LA Realty broker

La Mirada industrial building

Clarion pays $77M for La Mirada industrial project

arrow_forward_ios
Loading...