RealTime IT News

LoopNet Serves Commercial Real Estate Industry

[Toronto, CANADA] LoopNet launched its Canadian site for Canadian Commercial Real Estate (CRE). It provides brokers, institutions, tenants, landlords, real estate boards and organizations with an online marketplace to help to conduct transactions more efficiently.

LoopNet's services are used by five Canadian CRE corporations: C.B. Richard Ellis, Avison Young, J.J. Barnicke, Colliers International and Royal LePage.

The site addresses an industry often characterized by a lack of information shared among sellers and buyers. Already active with online CRE listings in the United States, LoopNet assembled a team of CRE experts to secure the participation of these five corporations.

"With all five CRE organizations listing their properties with LoopNet, we expect to gain rapid mind share with brokers, tenants and landlords throughout Canada," said Peter Schmidt, vice president and managing director, LoopNet Canada.

LoopNet has the support of its international partner FIABCI, an international real estate association whose network comprises one million real estate professionals worldwide.

Sunlife of Canada, Metrus Properties, Bentall Properties, FirstGulf Developments, and The Sorbara Group have all embraced Loopnet's technology to expose their portfolios. This segment of the Canadian real estate community expects to increase the number of transactions by using LoopNet.