As one of the largest commercial real estate property listings sites in the world, LoopNet has few direct competitors, and subsequently because it is owned by CoStar, is part of a larger network of commercial real estate sites all working from a connected database.
Even though LoopNet is without major direct competition at the same scale, there are quite a few alternative commercial real estate websites in specific niches and for specific locations.
For commercial real estate property owners and brokers, these other sites may offer several advantages over the options currently available in the market. It is important, however, to evaluate the full extent of these options and how they can fit specific needs related to the properties being shown to potential tenants or buyers.
LoopNet vs. Xceligent
For a time, Xceligent was one of only two multi-market providers of fully researched information and marketing tools to companies involved in buying, selling, leasing, developing, or managing commercial real estate. This made them a prime competitor to LoopNet and a potential alternative for many commercial real estate professionals.
They offered a comprehensive inventory of commercial properties, including available space for lease or sale, tenant access, sales comps in different locations, historical transaction data, trends across several variables, and demographic information alongside mapping tools for commercial real estate professionals listing properties online.
Xceligent was a viable alternative as recently as 2017, but was embroiled in a multimillion-dollar lawsuit with CoStar Group that ultimately led them to shut down all operations and file for Chapter 7 liquidation in December 2017. The lawsuit alleged copyright infringement and claimed that Xceligent had stone some images from the CoStar database. A countersuit for antitrust followed and over the course of 2017, a potential settlement discussion fell apart. Xceligent states that the lawsuit was not a factor in the shutdown of the website.
While there are no websites on the scale of LoopNet operating currently, there are many different commercial real estate listing sites that offer potential alternatives depending on the types of properties being listed location they are being listed, and other factors that influence how these properties are promoted online.
Some of the most prominent LoopNet alternatives include:
- 42 Floors – This is an aggregator of commercial real estate spaces for sale, lease, sublease and coworking in the United States. They have 100,000 listings nationwide.
- RealMassive – Based in Austin, RealMassive has a database of more than four billion square feet of office, industrial and retail space throughout the United States.
- Rofo – Rofo offers zip-code based searches for office space, warehouses, retail locations, shared offices space and investment properties, with more than 30,000 current listings.
- Commercial Café – Commercial Café has more than 45,000 listings in all of the major commercial real estate categories and is free to post to with advertising available for property owners.
- Truss – Designed for tenants searching for office space of 10,000 or fewer square feet, Truss is a new and accessible site for small businesses.
- Brevitas – This collaborative effort features a marketplace of private, open and off market listings.
- Crexi – With more than 48,000 listings, CREXi features a range of tools for brokers in every state.
- Quantum Listing – QuantumListing is a national site with searchable listings and an unlimited posting option with paid memberships. Individual and broker memberships are available.
- OfficeSpace.com – Specializing in office space options, OfficeSpace.com has large scale space, small offices and coworking spaces for all sizes of businesses. They have listings in most major cities in the US and a free listing option.
- OffMarket – This site offers the option for buyers to access off market deals before they open to the rest of the market, and have a database of more than 50,000 investors, developers and institutions throughout the country.
- The Square Foot – The Square Foot offers office space listings, focused around 12 major cities and 10,000 total listings across the site.
- Catylist – Catylist is for individuals and companies looking for industrial, shopping, office, multi-family, hospitality, or land properties and they have thousands of listings across in their searchable database.
- TotalCommercial – This site has been active since 1995 and offers a number of commercial real estate listing services at a flat rate per agent per year.
- Search Office Space – This site offers searchable office space listings in the UK or US, with a portfolio of more than 10,000 business centers as well as private listings and consultant options.
- The Broker List – The Broker List is a free platform for finding brokers, vendors, and services. Listings and transactions can be shared here as well for verified members.
- RealNex Marketplace – This is a free alternative platform built on the PropertyLine platform. The marketplace has 250,000 listings in the United States and 4.7 billion square feet for lease.
- CIMLS – The Commercial Investment Real Estate Listing Service offers all types of commercial properties and has 320,000 registered members and more than $500 billion in available property to choose from.
- Spacelist – This site is based in Canada and has 20,200 properties available across the country in several different categories, with both free and paid account options.
- Instant Offices – Instant offices has 8,200 office listings in their database covering shared office space, managed space, light industrial, and other general office locations.
Whether searching for a website that caters to a specific audience or diversifying where and how commercial real estate properties are listed online, these sites offer a range of different options that will help commercial real estate professionals reach a large range of different buyers and tenants.
Selecting the Right LoopNet Alternative
It is important to evaluate each of these sites carefully to find the ones that will best fit your needs for a listing service. You can evaluate LoopNet’s features in full here or you can read in greater detail about how these competing sites differentiate themselves here.