SpaceAgent: Revolutionizing Commercial Property Leasing with Incentivized Community Engagement
Executive Summary
I’ve always been deeply intertwined with hardware and IoT entrepreneurial ventures, and this relationship has invariably tethered me to the tangible: spaces for testing, prototyping, manufacturing, and warehousing.
Since 2018, I have served in an executive capacity stewarding PowerBx — a global leader in workspace technology solutions. PowerBx successfully orchestrates over 400 enterprise deployments annually, predominantly catering to the mid-market and enterprise sectors. Prior to that I led the acquisition of ArmorActive to Mobile Technologies Inc. (MTI), “ArmorActive is a worldwide pioneer in developing solutions that facilitate the use of tablets within business environments,” said Chris Remy, CEO of MTI.
The shift towards remote and hybrid work models underscores the longstanding need for evolved space management tools. SpaceAgent, with its innovative approach, aims to address this gap.
In 2020, propelled by an urge to support and nurture the small business community in Salt Lake City, Utah, I started subletting 500 SF warehouse sections of my warehouse to local Founders and Makers. The outcomes were overwhelmingly positive. One notable success, Red Wolf Technology, later received a seed round and now operates from their own space. Others quickly outgrew the space available.
In 2023 I moved PowerBx to a 10,000 (3.5x bigger than our previous space) and SpaceAgent was born to serve our own community.
SpaceAgent Introduction
SpaceAgent is a software-enabled service that makes it easy for landlords to showcase and feature commercial property by engaging and incentivizing their community network. It champions a unique landlord and broker-friendly model grounded in culture and community, promoting collaboration and economic development. We can activate any space in as little as 2 weeks to quickly enable a host of economic opportunities centered on culture and community!
Tailored to the demands of emerging hybrid work policies, SpaceAgent provides businesses a competitive edge by offering affordable and flexible solutions in office, industrial, mixed-use, professional, and retail spaces, emphasizing increased space utilization, revitalized property value, and enhanced collaboration among rural and urban business environments.
Project Background
Problem Statement
Since 2014 PowerBx has led enterprise space management solutions that revitalize work and community environments globally from our Salt Lake City base. Leveraging our expertise in manufacturing hardware and low-voltage electronics, we streamline the optimal utilization of various physical spaces, enhancing efficiency, and fostering a nurturing community within the workspace.
Our solutions are grounded in real needs, creating vibrant ecosystems that cater to a broad spectrum of industries with a focus on mid-market and enterprise organizations. We directly enable distributed teams across the world to gather and collaborate, thereby enriching the work experience.
Annually orchestrating over 400 enterprise deployments, PowerBx has earned the trust of major Utah entities, including Divvy, Studio McGee, Nuskin, and Jacobsen Construction, proving our commitment to promoting economic vitality and forging stronger, connected communities. These local companies represent a small fraction of the international brands we represent globally.
The advent of remote and hybrid work models has disrupted traditional office environments, creating a pressing need for evolved space management solutions that foster a strong sense of community and align employees with their organization’s broader mission. Traditional space management methodologies are no longer sufficient in sustaining productivity and cultivating a collaborative culture.
As urban landscapes expand and evolve, and the definition of ‘workplace’ becomes increasingly fluid, the role of space as more than just ‘a place’ becomes evident. Today’s workforce, more mobile and globally distributed than ever before, demands environments that not only support their task-oriented needs but also foster well-being, collaboration, and a sense of belonging.
Yet, landlords and property managers face a paradox. On one hand, they need to maintain occupancy rates and ensure profitability; on the other, they need to adapt to the rapidly changing needs of businesses, freelancers, and remote workers, all of whom seek flexible, tech-enabled, community-driven spaces.
To empower landlords and communities alike, SpaceAgent aims to revitalize property values while enhancing utilization through flexible and hybrid spaces catering to a myriad of industries.
Objective
SpaceAgent makes it easy for landlords to showcase and feature commercial property by engaging and incentivizing their community network. We can activate any space in as little as 2 weeks to quickly enable a host of economic opportunities centered on culture and community!
Economic Impact
Predicting the economic impact that will be generated or retained as a result of SpaceAgent involves various factors including the project’s scale, its reception in the market, and the economic dynamics at the time of its implementation. However, we can provide an estimation grounded on PowerBx’s ambitious goals and influence on the project.
In the initial phases, we anticipate moving three part-time employees to full-time and hiring two director-level leaders. We are also in discussions with our developer teams to building our product road map.
Community activity, creativity, and collaboration will be the direct source of economic development driven by the platform ‘activating’ latent commercial property. Revitalized commercial spaces will need administrative staff, maintenance personnel, and community managers to support the collaborative environments, potentially creating hundreds of jobs over time.
Furthermore, as the project fosters entrepreneurial collaboration, attracts human capital, and invites more business operations, it will play a substantial role in job retention. Creating a healthy environment for human talent will ensure that companies continue to operate in the focus area, retaining existing jobs and potentially creating new opportunities as small businesses grow.
Taking a conservative approach, we can anticipate the project to directly and indirectly create around 100–500 jobs in its early stages and 500–1000 jobs over a span of 3–5 years. Meanwhile, the indirect impact on job retention and creation through fostering business growth could be much more substantial, with the potential to facilitate the creation and retention of several thousand jobs in the broader area ecosystem over a longer term.
Solution Overview
SpaceAgent, at its core, is an embodiment of the future of space management, born from PowerBx’s rooted experience in workspace technology. Our solution isn’t just about improving space management space but about revitalizing it with a technology enabled emphasis on culture and community, thereby breathing new life into properties and increasing their value and surrounding community.
Core Features of SpaceAgent:
Platform Robustness: An intuitive, user-friendly platform that caters specifically to the nuanced needs of landlords and community (i.e. brokers). It’s designed to be as seamless as it is efficient.
Customizable Transactional URL: Each space gets a transactional URL tailored to highlight its unique features. More than just a listing, this URL serves as a dynamic tool to incentivize networks and premium leases.
Referral Network Dashboard: A curated dashboard that doesn’t just list but helps monetize a managed referral network for commercial property networks. It help make human connection and community engagement around commercial real estate frictionless
Rapid Activation Program: Leveraging our close relationship to PowerBx SpaceAgent can activate right-sized commercial spaces in as little as 2 weeks.
Why SpaceAgent?
At a time when the dynamics of workspace are undergoing monumental shifts, SpaceAgent bridges traditional space management with the needs of the modern, flexible workforce. By amalgamating the advantages of co-warehousing and flexible workspaces with PowerBx’s unmatched manufacturing and logistical prowess, SpaceAgent can redefine the value a commercial space can offer.
It’s more than just about filling a vacancy; it’s about enabling collaboration, culture, and community in space, thereby fostering economic growth on a local level.
The results aren’t just qualitative. Businesses that onboard with SpaceAgent witness tangible improvements in ROI, thanks to superior networking, enhanced collaboration, and a workspace that’s in sync with modern demands.
In a world that’s rapidly blending the digital with the physical, SpaceAgent ensures that spaces aren’t left behind but are at the forefront of this evolution, promising greater connectivity and unmistakable value for all stakeholders involved.
Implementation Breakdown
Phase 1: Market Analysis and Feasibility Study
Building on PowerBx’s rich industry experience we have a keen understanding of the nuances and gaps in the existing market. With a track record spanning hundreds of global enterprise deployments, PowerBx is primed to ensure that every facet of the SpaceAgent project is rooted in actual market demands. Our partnerships and relationships with industry leaders will provide a unique vantage point, enabling us to design solutions that define future of work models.
Phase 2: Product Road Map and Testing
As we navigate a saturated industry of space management solutions and technologies rolled up in Private Equity management, it’s imperative that our platform remains agile, adaptive, and always attuned to the market.
Our feature map is written and informed by tangible market data and direct feedback from customers. SpaceAgent was built from real world experience. Enhancements are dictated by industry knowledge and direct client requests to ensure value that resonates with the needs of landlords, brokers, and the community at large.
Phase 3: Network Development and Engagement
By centering our international expertise around the demands of our local Utah market we are confident we can cultivate organic platform engagement. This grassroots connect is about genuine, value-driven interactions that guide the trajectory of technology enhancements. The insights garnered from our local engagements will identify sectors where our impact can be most profound. It’s a two-fold journey: while the community aids our refinement process, our platform, in turn, enriches their operations and opportunities.
Phase 4: Monitoring and Evaluation
At this time, PowerBx will leverage its existing team of experts to oversee the monitoring and management of the SpaceAgent project. By assigning the stewardship of this project to our existing team, we aim to foster a seamless assimilation of the SpaceAgent initiative into PowerBx’s already successful suite of processes thereby inviting new hires into a proven working method, while also scaling existing processes.
Conclusion
SpaceAgent embodies the fusion of technology with human connection in the realm of commercial real estate, emphasizing community engagement and seamless interactions. The platform is tailored to the property, targeting the unique demands of landlords and community stakeholders. SpaceAgent is your technology partner in today’s ever changing real estate space.
