MIAMI, March 11, 2022 /PRNewswire/ — Barterlet, the first technology-powered commercial real estate Barter platform, today announced a significant agreement to secure a 50,000 Sq Ft office building in Parma Heights, OH. The company intends to make the property available for barter. This agreement reflects continued momentum for Barterlet as they work to establish direct access between Landlords and business owners and continue to diversify the availability of commercial space.
Barterlet offers Landlords and business operators (tenants) the opportunity to work with each other on a percentage rental basis. In this arrangement, the landlord gets the chance to earn from the tenant’s operation. Simultaneously, the platform gives business operators a chance to grow and succeed by offering startup equity, marketing, and growth services. Barterlet creates opportunities unusual for the commercial real estate market with world-class underwriting and liquidity.
Founder and CEO Garland Shields established Barterlet to drive positive social impact through its technology and by partnering with local underrepresented minority business operators. The first company to successfully use the innovative platform is a Sushi restaurant in the Miami area.
"We are ecstatic to make Barterlet a market shaker and mover in the Commercial real estate space. It’s been long overdue for a change. You would think this would have been done sooner since the industry has been clobbered by the move to online and a host of other factors, but nothing happens before its time, I guess," shared Garland Shields, founder and CEO of Barterlet. He continued, "It’s rewarding to see how excited property and business owners are about this. Our model is a great supplement for filling vacancies and bringing back the experience of having a community that’s flourishing."
Barterlet is a groundbreaking commercial real estate bartering platform that offers landlords and tenants the opportunity to work with each other on a percentage rent model. The company opens participation in a historically opaque business sector via its technology-driven and transparent approach. They provide hand selected operators with the tools to pursue highly vetted commercial real estate locations to expand their existing operation and the opportunity to seek liquidity through its proprietary secondary market, a unique offering within the industry.