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.