Office buildings are much more complicated than home valuations because rent rolls are hard to obtain
CompStak and Knotel are joining forces to try and build a valuation tool for office buildings, according to the CO. They are essentially trying to do to office buildings what Zillow has done to home valuations.
Why it matters: Young startups are raising lots money to build this tool. Makes sense that two existing companies want in on the action.
On the companies: Knotel is a WeWork rival that recently closed a $70 million funding round at a valuation of $500 million. CompStak uses a crowd-sourced model to help gather real estate data, and has raised $21.3 million to date.