Company A had leased 5,000 square feet of office space but due to WFH arrangements and they no longer required that much space. They were looking for ways to reduce expenses and saw that they had a lot of empty space they were not utilizing and still paying for. They calculated that they now only needed about 3,200 square feet of space for their business office. They also wanted to see about upgrading their address.
Company B had 3,300 square feet of office space, but they had already been on the verge of out-growing their space. They realized that they would need closer to 5,000 square feet due to new employee social distancing requirements – so their current space no longer worked for them. They needed more space.
Both companies had entered their information into TradeAddresses.com and the platform identified them as a potential match. After reviewing photos, office layouts, specs, and completing a virtual walk-through, both parties agreed that they’d like to make a trade.
TradeAddresses.com then worked with each party and respective landlords to quickly trade the two office spaces. In this case, they chose to execute subleases with each other.