Recently, I met Alex Kopicki CEO and Cofounder of Kinglet, who with his business partner Jeff Jacobson comes from a real estate development background having delivered over $800mm of brick and mortar development. Most interesting to hear, despite a record of success and a promising future, a year ago, they decided to make the leap from development to CRE tech. They launched Kinglet, a platform that’s redesigned the leasing process for small businesses and sublets.
Alex and Jeff saw that the coworking phenomenon was no passing trend – cultural, and employment shifts are occurring that are dictating a different type of need for office tenancy. Small businesses and start-ups are more reluctant to invest a lot of money in overhead, like office space, when this money can be invested in product development and marketing to contribute to the bottom line. Additionally, they took notice of a major change in the labor force. The concept of the ‘company man’ is shrinking; independent workers have grown to 45mm, mobile workers to 32mm, and companies under ten people now aggregate to 5.2mm.
With the concept of the ‘business sublet,’ Alex and Jeff saw an attractive opportunity for independents, start-ups and small businesses, as well as, for businesses and landlords with excess space willing to offer flexible shorter term options. Because the opportunity rests with small, short-term rentals, Alex & Jeff knew that Kinglet’s core value proposition rests in technology that matches guest and host alike with a relationship that precisely fit needs – culture and vibe, amenities, location, price, as well as, growth (and minimizing) options for space, and, most importantly, short term leases. The companies that Kinglet serves are businesses in a transitional state, for example, those graduating from an incubator or co-working facility but not ready for a significant real estate investment.
To make smaller real estate transactions work for both sides, Kinglet is focused on solving the inadequacies with the sublet and leasing process for small deals by offering an all-in pricing model that is fast, efficient and transparent. Through this model, Kinglet delivers exceptional service to forward thinking landlords looking to diversify their tenant base and activate dormant vacancy. With small commercial real estate deals like these, speed and minimal players on the board are the keys to success. Kinglet’s platform provides a direct pipeline to connect landlords with viable small businesses and independents while optimizing landlords rent roll with a cash enhancement through these shorter term deals.
After only one year, Kinglet has steady traction and counts regional landlords such as COPT, JBG, BECO, and Cordish Company as partners.
Alex & Jeff don’t envision the world without brokers. Kinglet’s core idea is to drive efficiency and opportunity for small deals based on a premise of flexibility and matching. Kinglet assists brokers by offering an all-in-one solution to funnel small deals into so they can nurture their client relationships and focus in on the big deals. They built a referral program specifically for brokers to funnel small leads, eliminate distractions and get rewarded.
So after a year as a start-up, Kinglet is offering everything they’ve learned about the changing landscape of small tenant leasing, or as they call it – the on-demand office ecosystem.
Kinglet. Work With Great Companies In The Best Spaces.