Update: Tandem stepped in and got the entire space leased in a couple months, at a rent much higher than asking! What Rafi Sands and his team are doing in the office market is unlike anything I’ve ever seen.

One of the craziest things I have ever seen in my career happened, and I wanted to share it. So -- my team has long co-asset managed an office building in San Francisco as a one-off. An office tenant left a couple years ago, and there have been literally no offers since, despite the fact we have a great brokerage team working on leasing it. The market sort of is what it is out there. We got approached by a company called Tandem. I was a bit skeptical because what they did was so outside the box, but I heard them out. They basically work to fill office space by recruiting small startups that only need a very small area. They ensure that the startups work in similar industries, are complimentary, etc, and they manage the whole process of onboarding them, managing the space, etc. They mix and match tenants to fill the space, and then they then take a percentage of the rent each month. So -- because the market has been so dead and we see little hope of leasing the space, we gave them a shot. WITHIN 90 DAYS THEY FILLED THE ENTIRE SPACE -- AND WE ARE COLLECTING RENT MUCH HIGHER THAN THE ASKING RENT, WITH NO TI ALLOWANCE! They are YC Backed -- and their founder Rafi Sands is a great dude, and hustles like crazy! We are now giving them another floor. Just surreal what has transpired. A game changer!