Fast-growing proptech start up solving large need in $6.5 trillion US triple net lease real estate market which includes thousands of California properties
SAN FRANCISCO, Feb. 15, 2018 – Brokers+Engineers today opens their San Francisco office, joining current offices in New York and Tampa, as the fast-growing proptech start up revolutionizes the commercial real estate field by offering the first tech-driven brokerage firm and trading platform for triple net lease real estate (NNN).
“Brokers+Engineers is very excited to extend our operations into California,” said CEO and co-founder Camille Renshaw. “We are the first technology platform created specifically for trading NNN property from origination to close, and will maintain the largest NNN data set in the industry, with technology products that leverage this data to provide a new standard of advisory to California brokerage clients.”
NNN is a lease structure where the tenant (business) is responsible for paying all operating expenses associated with a property. There are thousands of large businesses operating in California under the NNN structure, including Taco Bell (5,600 nationally and 964 in California), Walmart (6300 nationally and 296 in California), Home Depot (2,200 nationally and 232 in California) and Walgreens (8,000 nationally and 622 in California) All told, the NNN real estate market within the US is estimated to have a total market value of $6.5T that consists of more than 1.3M properties, with greater than $55B in average annual sales volume.
Brokers+Engineers tech products include predictive pricing and 1031 tax advisory to exchangers, leveraging artificial intelligence. Both services are delivered through a transformative technology platform that allows Brokers + Engineers to help virtually anyone intelligently trade net lease.
“Until now, the tech industry has failed to transform NNN because it overlooked the fact that senior people and their relationships are crucial to our transactions,” said Renshaw. “At Brokers+Engineers, our people are empowered by data analytics, artificial intelligence and innovative engineering, but senior people still drive all the deals.”
The Brokers+Engineers San Francisco office is located at 303 Sacramento Street in San Francisco.
For more information, go to: www.benetlease.com