RealTime IT News

SiteStuff Acquires RexOffice.com

SiteStuff Inc., an e-marketplace for the commercial real estate industry, has acquired RexOffice.com Inc., which connects commercial office buildings and property managers with their tenants via the Internet, in a stock-for-stock transaction.

Both companies are privately held and financial specifics were not disclosed.

RexOffice is a Web-based portal that functions as a building operating platform for building owners, tenants and property managers. RexOffice provides a secure, password-protected extranet for building owners and managers to store and share files and reports, and enables buildings to create their own Web sites.

For tenants, RexOffice facilitates the submission and completion of tenant work requests and provides tenants immediate access to building resources.

"This acquisition is an excellent fit with the SiteStuff strategy of providing easy access to everything a building owner, manager or tenant requires to efficiently and effectively operate their properties," said Michael Stewart, chief executive officer of SiteStuff.

SiteStuff's national customer base represents more than 2.8 billion square feet of commercial real estate space. SiteStuff helps real estate professionals automate purchasing and aggregate buying power.

RexOffice will become the preferred portal for properties managed by member companies of the Project Octane e-business alliance -- CB Richard Ellis, Jones Lang LaSalle, Trammell Crow Company and Insignia/ESG.