International Press Release

Crowd Sourcing What Every Tenant Wants To Know
LeasingCompsis a global game changer that shifts the balance of power towards tenants and small business by providing a platform to freely share their lease terms and conditions with one another. By creating a globally transparent marketplace in which tenants know what other tenants have paid in the same building, locations or region,prices are forced to reflect the last lease completed (true “market price”) and not the Landlord’s “asking price”.
Before LeasingComps, when those more fortunate could afford to build buildings with more space than they could occupy, Landlords have dictated the price and terms for leasing space. In order to expedite the leasing of space they used brokers paying them a commission to acquire a tenant. This arrangement pervades today and is the reason that no tenant has any direct knowledge of recent lease rates and terms, even in their own building. Landlords and their agents will not release recent leasing terms and conditions, because it is against their self interests. Today 90 percent of brokers represent Landlords and when a tenant calls from an ad, they end up speaking to a broker representing the Landlord or their leasing agent.LeasingCompstips the scale in favor of tenants globally.
Jim Cushing, Founder of LeasingCompsand Forleasing, has provided commercial real estate services to hundreds of clients in Northern California and currently represents a wide range of Venture Capitalist firms and their Portfolio Companies. During the Dot.com implosion he represented companies such as Pets.com, Ask.com, Turnstone.com, Nextcard.com, Novalux.com and LiquidAudio.com as they negotiated their way through leasehold reorganization. Also having worked with hundreds of Silicon Valley Bank'sclients, Jim Cushing has saved clients over $120 million dollars in aggregate. His impact and achievements are well documented as a tenant advocate as mentioned in this 30 second commercialincluding the Vice Chairman of Silicon Valley Bank, Harry Kellogg.
At any time 20% -27% of 3 to 5 year leases are being renegotiated globally and yet not one tenant has sufficient information to direct their actions other than what is provided by the Landlord or their Brokers andLeasingComps is changing that.Mr. Cushing recently commented, “We have direct knowledge of tenants signing new lease renewals at 33% higher than a new comparable tenant moving into the same project because the existing tenant signed up for what the Landlord was asking.” This story is not unique, yet few tenants know they are over paying, because the majority of contacts they have are either only the Landlord or their brokers and thus the tenants have had no true visibility untilLeasingComps.
The need and action is simple, any tenant can anonymously provide commercial leasing terms and conditions for the space they are occupying and share that with the world of other tenants for everyone’s mutual economic benefit.LeasingCompsautomatically responds to each additional lease and terms added, to confirm its authenticity, and removes any that are not substantiated. The website is currently accepting lease terms and conditions globally and encourages tenants and employee's to provide comments on their building, location and amenities in the surrounding area, such as restaurants, shopping and transportation. After all, when employees spend 8 to 10 hours away from their family, home and friends, it is important to understand what “location, location, location” really means.
LeasingComps is free to tenants and employees worldwide to input information and offers additional paid services to provide lease analytics for tenants approaching lease terminations. Instructions are translated into Spanish, Chinese, Japanese, Portuguese, Arabic, Hindi and Russian. In March the venture will provide users the option to download a LeasingComps app to their smart phone and enable them to walk the streets of their city and see firsthand what leases have been completed within their building surrounding them using GPS.
In November the venture will provide users the option to download a LeasingComps app to their smart phone and enable them to walk the streets of their city and see firsthand what leases have been completed within the buildings surrounding them using their GPS enabled phones. For further information you can contact Jim Cushing at jcushing@leasingcomps.com.
LeasingComps transparency is a click away.
LeasingComps
555 Bryant Street, #125
Palo Alto, California, 94302