Free Listing Service and Transaction Platform Biproxi Has Launched
The platform seeks to improve the transaction process within the middle market
NEW YORK, NY–Customarily, the middle market in the commercial real estate industry has been an underserved segment in terms of exposure to buyers, listings and marketing. Biproxi, an online platform for middle-market commercial real estate sales, leasing, and marketing, recently launched with the goal of improving that transaction process.
The company was founded by Gordon Smith, Yan Khamish, Carrington Guy and Thatcher Milholland.
“In commercial real estate, the top brokerage firms and trophy properties, all located in top markets, typically garner all the attention. The reality is that most CRE professionals are focused on the middle market,” says CEO Gordon Smith. “These middle-market deals are usually transacted offline which makes it difficult to identify all qualified buyers through traditional marketing and networking methods alone. Biproxi’s platform ensures deals are exposed to the widest possible buyer audience.”
The middle market, defined as sales transactions under $25 million and leases under 50,000 square feet, accounts for roughly 70% of annual U.S. CRE transaction volume, with a lot of properties located in second and third markets.
Daniel Beider is Founder, Chairman and Senior Managing Director, Paramount Lodging Advisors. He says that his Chicago-based firm, which focuses on a variety of services, is pleased with what it has achieved with Biproxi.
“Paramount has had a lot of success online and we attribute a lot of our growth to new technology,” he says, calling Biproxi “a trailblazer in our marketplace.”
Industry organizations partnering with Biproxi include AREAA, CCIM, NAIOP, NAR, and SIOR. The company’s national brokerage partners — those that are placing all their listings on Biproxi — include Capital Pacific, Coldwell Banker Commercial, CORFAC International, The Kase Group, Lee & Associates, Paramount Lodging Advisors, RE/MAX Commercial, Sperry Commercial, SVN Commercial Real Estate Advisors and TCN Worldwide as well as mid-size and smaller firms throughout the U.S. Carrington Title Services will be Biproxi’s title partner.