Trot, the commercial real estate marketplace, has launched an online platform that allows building owners to list available office spaces, while “trotters,” those looking for flex office spaces, can easily browse a broad selection of locations, building classes and amenities to find a short-term space that works best for them.
“Trot brings the ease of renting a vacation home or hailing a ride to the commercial real estate market. We believe the flex space opportunity should be simple, transparent and as beneficial for owners as it is for businesses,” said Founder and CEO David Menaged. “We’re helping building owners finally participate in the flex space revolution, connecting them directly with the users of the space and creating new opportunities for both parties. Trot allows businesses to find and book flexible office space that suits their evolving needs, building a relationship with owners. Our technology-driven approach offers owners and businesses a trusted marketplace that unifies the way flex space will be marketed, managed and booked.”
Menaged founded Trot in 2020 as a direct response to pandemic-related issues facing the commercial real estate industry. Recent workplace movements and talent-forward hiring practices continue to challenge the idea of the traditional workplace and office space. To navigate this new professional landscape, 73% of companies plan to support a hybrid working model, according to a CBRE report. With JLL predicting that 30% of commercial real estate will be flex leased by 2030, compared to the 2% it sits at today, the flex market opportunity is significant, the company said.
In response to this increased demand, Trot enables building owners to fill vacant space and own their flex space offerings in full. The platform streamlines the process, eliminating previous challenges and showing owners that offering flex space directly can be truly flexible for all parties and a critical tool in positioning portions of their building for occupiers evolving needs well into the future.
While traditional co-working spaces are more often offering a solution via their managed portfolio, Trot acts as an independent marketplace that brings together any building owner looking to maximize their commercial real estate with all types of businesses looking for flexible space. Owners can sign up for free, listing as many or as few spaces as they like and have complete pricing control.
Similarly, trotters can find office space that fits their needs by simply searching with the platform’s various filters to see and book available flex spaces in three-month intervals with streamlined license agreements. Listings include detailed descriptions, photography, floor plans and virtual walkthroughs of spaces. Trot removes the middlemen, including third-party providers and management solutions, to give a fairer deal for businesses and owners, and allows building owners to communicate directly with businesses via the platform for a transparent and efficient process.
Trot also offers additional services for businesses who book a flex space, including a way to furnish spaces, set up technology such as WiFi and phones and purchase liability insurance for the premises through their trusted partner network. Partners will deliver prior to move-in, helping create a seamless experience for both owners and trotters alike.
Trot is currently available in over 16 locations throughout New York City and the surrounding areas with more listings being published every day and plans to expand geographically within the next six to 12 months.