SquareFoot Acquires PivotDesk to Expand Product Offerings for Tenants

NEW YORK, Feb. 19, 2019 /PRNewswire/ -- SquareFoot (www.squarefoot.com), a commercial real estate technology company, today announced the acquisition of PivotDesk (www.pivotdesk.com), a flexible office space marketplace. PivotDesk will operate as a subsidiary of SquareFoot. The terms of the deal were not disclosed.

Founded in 2012 with a mission to improve commercial real estate leasing through transparency and efficiency, SquareFoot combines proprietary technology and an experienced brokerage team to modernize the leasing process — from initial search to lease signing.

To date, the company has closed more than 600 transactions, and in 2018 doubled transaction count and revenue while making significant investments in its proprietary data and publicly-available listing platform.

In acquiring PivotDesk, SquareFoot is strategically positioned to serve growing businesses across the country that are prioritizing flexibility and future growth in their office space search.

"As we began to look for ways to further establish ourselves as the one-stop shop for all small- and medium-business office space needs, the opportunity to pair PivotDesk's flexible, space-sharing marketplace with the technology, marketing, and brokerage expertise we have at SquareFoot was an ideal one. I look forward to growing our tenant-obsessed, technology-fueled commercial real estate company across the country."

                                 – Jonathan Wasserstrum, Co-Founder & CEO

About SquareFoot: SquareFoot is a real estate technology company founded in 2012 on the mission of helping businesses find the office space they need. The company is headquartered in New York City, with an additional office in Belfast, United Kingdom. For more about SquareFoot, visit www.squarefoot.com.

About PivotDesk: PivotDesk is a business that connects companies with excess space to companies that need it. Offerings range from single desks in a shared office to subleases and coworking space.

CONTACT: Graham Shorr, [email protected]

SOURCE SquareFoot

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