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TENANTWISE.COM CHOSEN AS ONE OF FIVE MOST SUCCESSFUL E-REAL ESTATE SITES

Mr. Will Marks, Equity Analyst of Banc of America Securities, announces his picks at MIT Center for Real Estate Annual Symposium in Boston, MA

New York, NY. December 1, 2000

At a symposium sponsored this week by the Massachusetts Institute of Technology entitled “E-Commerce and Commercial Real Estate: Business Models that Work”, TenantWise.com was highlighted by Banc of America Securities analyst Mr. Will Marks as one of five real estate websites he expects to succeed. Other sites selected by Marks were Netstructxr, RealPrompt, RealCapitalMarkets and RealCentric. Marks mentioned his top sites in a keynote address that was part of a day-long seminar including panel discussions on “Information and On-line brokerage” and “E-capital”. Mr. Marks established his reputation in the e-real estate space with the first comprehensive report published in August entitled “B2B Commercial real Estate: Old-Line or On-line? The Evolution of Cyber Brokerage”. This report identified nineteen sites out of the dozens online. These sites were: Cityfeet.com, Comro.com, CoStarGroup.com, LookingForSpace.com, LoopNet, NAIDirect.com, OfficeSpace.com, PropertyAuction.com, PropertyFirst.com, RealCentric.com, RealPrompt, RealtyIQ, RealWired.com, Reis.com, Storetrax.com, TenantWise.com, TheAskingPrice.com, Zethus.com, and 1031properties.com.

Launched on April 10 of this year, TenantWise.com is the first and only B2B commercial real estate transaction platform. Over 3000 unique listings covering all of Manhattan’s neighborhoods are listed on the site by TenantWise.com. TenantWise.com does not charge landlords or brokers to list space on the site and as a result, has one of the most complete listings services available on the world wide web. These listings are free to be accessed by tenants, brokers and landlords.

TenantWise.com is changing the commercial real estate leasing business the way on-line brokerage firms changed the process of buying and selling stock. TenantWise.com offers commission savings to landlords and tenants as a result of the efficiencies it generates through a streamlined process. Currently, landlords typically save 20% off a full leasing commission and tenants save 40%.

By simplifying the occupancy process and restructuring the flow of commission revenue within the traditional brokerage model, TenantWise.com is having a dramatic effect in changing a business that has been unchanged for a century.

TenantWise.com has closed eighteen lease transactions with an aggregate value of $36MM and is cash flow positive.

For further information contact:
M. Myers Mermel
Chief Executive Officer
(212) 943-7777
Caroline McLain
Chief Financial Officer
(212) 943-1902

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