When it comes to small business owners or entrepreneurs finding the perfect office space for lease, I always say - every company is unique and there is “no usual.” Perhaps just the sheer uniqueness of every small business makes that our very own “new normal.”
I certainly understand how finding the right office space for lease is a daunting task and typically not the first priority for a business owner who has a growing business to run and manage. From viewing different office spaces to negotiating the lease terms, there’s a lot to take on.
Thanks to our online marketplace and our platform’s ability to be used on-the-go virtually anywhere, Factory Four was able to find a space, tour it and sign a lease within just seven days in Los Angeles. This includes reviewing the commercial lease terms and conditions as well.
That’s nearly unheard of in commercial real estate and commercial property for rent. The company, headquartered in D.C., was previously in a WeWork location, and they were ready to make the jump from coworking to find their own office space to fit 18 people with hopes of growing their team.
Part of the reason this thriving tech company was able to move this along so smoothly was because their VP of Operations liked our one-on-one broker support that I offered and how I streamlined the process for him.
“Traveling from D.C. to find the right space in LA was a big undertaking and I needed to work with someone who had local market intel. Sam’s knowledge of the spaces available, coupled with Truss’ marketplace, gave me the confidence and trust that we would find the right space,” said Warren Turner, VP of Operations of FactoryFour.
I knew FactoryFour needed to move quickly and we were able to circumvent the typical “song and dance” of submitting proposals with a straightforward negotiation process and typical commercial lease terms in person. It certainly helped that we worked closely with the listing brokerage, Madison Partners and their listing broker, Bob Pearson. He was willing to move this along faster than normal, and we all appreciated the speed of getting this deal done. While figuring out how to negotiate a commercial lease and ultimately signing a lease can take weeks if not longer with back-and-forth drafting, reviewing and more, we were able to negotiate, draft and submit the proposal in the space because of Truss’s mobile friendly platform. We were able to fire off a proposal and coordinate with the landlord’s representation in a matter of minutes, while in the space, unheard of up until now in the CRE industry.
Ultimately, FactoryFour signed with a beautiful office space located at 6101 West Centinela in Culver City. Once they saw the space, they knew it was the right fit for their business, largely because it had the location, size and layout that they wanted and knew what to look for in a commercial lease.
In the end, old school negotiation and Truss’ cutting-edge technology yielded a lease signed much faster. And now FactoryFour can return back to growing its business, as intended, in its new office space.