CRE Leasing Platform Truss Enters The Industrial Market
Truss, the online real estate leasing platform that serves as the middleman between owners and tenants seeking small lease footprints, has added industrial real estate to its offerings. Truss started leasing industrial space in Chicago and Dallas this week, and plans to add Houston within the next 90 days.
Truss will list industrial space of 50K SF or less, compared to the less than 10K SF offerings Truss lists for office and retail real estate. Truss co-founder Bobby Goodman said the decision to raise the cap on industrial allows the platform be a viable player in the industrial leasing landscape.
"Capping industrial at 10K SF limits what we can capture," Goodman said.
Goodman said there was no beta testing for listing industrial real estate on Truss' platform. The tech back end was already established and tested with office and retail, and the company's customer base has holdings and demand for office, retail and industrial.
Truss spent six months gathering feedback from ownership groups and brokers in Chicago and Dallas for what they wanted to see with online industrial listings. The only tweaks Truss needed to make to its search algorithm to accommodate industrial listings was to change the parameters of how tenants seeking space search for available space. Industrial tenant demand is being driven by location to intermodal points, especially from a last-mile perspective.
