Swivel Debuts Its Short-Term Leasing Platform
The company focuses on teams of 10 to 200 employees who need to research, lease, and furnish their next office space.
AUSTIN, TX – Swivel has formally launched its short-term office leasing platform.
The company is focusing on teams of 10 to 200 employees who need to research, lease, and furnish their next office space.
“Businesses in greater and greater numbers are looking for an alternative to traditional office leasing that offers cost savings and convenience on-demand,” says founder and CEO Scott Harmon. “Swivel provides that alternative through agile leasing,” he tells GlobeSt.com.
How it Works
Officially launched in March, the Swivel platform connects companies to landlords, brokers, and leasing agents to simplify the leasing process and “deliver transparency between parties, minimizing excessive markups charged by workspace operators and passing those savings onto members,” explains Harmon.
Once a space is leased, members can personalize the finish-out of their workspace to reflect their culture and specific brand which goes beyond basic furnishings and includes plants, artwork, kitchen appliances, monitors, and whiteboards, among more.
“Our business model has taken off like wildfire,” says Harmon. “For example, if JLL or CBRE has a short term tenant, they can call us and they will still make their commission. We are broker-friendly and are astute to the fact that 80% of tenants work with a broker.”
Tenants
Companies with 10-100 employees and who are seeking 20,000 square feet or less are Swivel’sweet spot. Half of their clients are local, high-tech and digital companies and the other half are European companies as well as firms from San Francisco, New York, and California, Harmon says.
Swivel is currently active in Austin, Dallas/Ft. Worth, Denver, Houston, and San Antonio with plans to expand into more markets in 2020.