REACTIV, a unique, new online platform listing vacant or underutilized commercial properties for rent, today announces its company launch. The innovative business is initially focusing on Denver with plans to quickly expand to additional cities by mid-2020.
The startup is reimagining the use of real estate by activating vacant or underutilized space, improving financial returns for landlords and small business owners, and giving entrepreneurs access to affordable space—enhancing collaborations.
Real estate is changing, and REACTIV's new platform allows users and spaces to be nimble, activating them to their fullest capacity. Property owners can showcase their spaces online free of charge, while renters can search for unique spaces with endless uses and flexible terms.
Founded by Jason Shepherd and Ryan Boykin, real estate entrepreneurs and co-founders of Atlas Real Estate, REACTIV creates a win-win-win: revenue for owners, spaces for those who don't have access and increased neighborhood vibrancy.
REACTIV is taking a bold step in introducing sharing and fluidity to a traditionally rigid asset class. It seamlessly connects property and business owners with potential renters seeking cost-effective spaces for their creative endeavors.
"We're real estate owners solving a real estate problem: under-optimized assets," says Shepherd. "We're creating a solution to activate lazy space and improve financial performance while stimulating community, creativity and entrepreneurship."
REACTIV is preemptively developing a solution to the current retail vacancy crisis and affordability issues with short-term occupancy, co-tenancy and sharing.
"Bricks and mortar and small business profits are both on life support, especially in markets with rapidly increasing rents," Shepherd continues. "Business owners who are battling affordability issues can use sharing and co-tenancy to generate additional revenue and provide affordable spaces for entrepreneurs, creatives and artists to create."
By making tenancy in commercial properties less costly and more flexible, REACTIV will energize local communities through an influx of new and exciting enterprises in vacant commercial spaces, serving as a catalyst for entrepreneurs, creators, builders, fabricators or pioneers to transform their ambitions into reality.
Even if a property is occupied, that doesn't mean it is being optimized, as is evident with office space that's typically only used for 40 hours out of a 168-hour-week.
"Commercial assets carry a higher vacancy rate, as well as more downtime between tenants," says Shepherd. "We created this platform initially to monetize those gaps in occupancy and improve returns on our commercial assets."
REACTIV revolutionizes short-term rentals by simplifying and humanizing the process. The only limitations are a building owner's flexibility and a renter's creativity in using the space.