Denver-based Office Exchange is gearing up for a move to the Magic City after an investment from the Alabama Futures Fund.
Office Exchange will bring its marketplace platform technology, which connects parties interested in forming short-term leases for commercial properties, to Alabama.
As an increasing portion of the commercial office market is shifting away from company-wide space to smaller, more flexible offices, Office Exchange aims to monetize under-utilized office spaces by connecting them with businesses.
Office Exchange Founder Devin Davie started the company two years ago with the foresight that office management and site management would undergo a shift due to the pandemic.
Davie said the deal with the Alabama Futures Fund started a few months ago and the appeal of the technology sector growth in the city was a major factor in making the move, in addition to the prospect of working with other like-minded people in the tech ecosystem.
“It’s being able to enjoy a working relationship with folks that are also experts in that industry, and we’re seeing value added to our company and to the growth and success of Office Exchange in and of itself,” Davie said, “Looking at it full circle, it started with initial discussions with Redhawk, and the relationship fostered itself. They understood our vision, they understood how we really will be able to differentiate ourselves and (saw) our growth potential.”
The company has three primary founders who expect Office Exchange to double in size and hire between six and 10 employees locally by the end of the year. Davie aims to grow in the marketing realm as well as bring other positions on board that can help the company expand rapidly.
The company should transfer its headquarters within the next 60 days.
“We’re looking to establish our footing in the Birmingham culture,” Davie said. “We want to bring that excitement that tech brings to different cities.”
Davie said his mission in Birmingham is to help underserved people, boost diversity and offer value.
The company does not have a set location at this time but is working with CRE experts for office space.
