Leading Technology-Enabled Commercial Brokerage Appoints New Leader as the Company Accelerates Growth
NEW YORK–(BUSINESS WIRE)–SquareFoot, a commercial real estate brokerage and marketplace assisting companies with their office space needs through technology, today announced that it has appointed Michael Colacino as chief executive officer. Colacino will take the helm from founder Jonathan Wasserstrum, who led the company for a decade.
Colacino joined SquareFoot in 2019 as president. Prior to SquareFoot, he served as president at Savills Studley, where he led and created teams doing large-scale tenant representation, capital markets, and construction project management. He has more than three decades of experience in executing transactions, hiring and training brokers, and bringing technology solutions into commercial real estate.
“I am excited to lead SquareFoot as CEO as we jump to the next level of scale and revenue,” Colacino said. “SquareFoot has a unique ability to aggregate tenant demand. Our position allows us to serve office space users as they adapt to the new world of office work.”
Colacino’s goals for SquareFoot are to enhance the user experience by evolving the platform and to recruit experienced brokers across the country. SquareFoot will employ the equity and debt capital recently raised to hire brokers who have a clear vision of the industry’s future.
“Michael is a highly respected colleague I have long admired,” said SquareFoot founder, Jonathan Wasserstrum. “I can’t think of a better person to lead SquareFoot through its next phase of growth and pave the way for the future of commercial real estate.” Wasserstrum will assume the role of chairman and continue to support SquareFoot’s development as a PropTech industry leader in technology-enabled brokerage services.
“I’ve been working closely with Mike for the last 3 years,” he added. “There are few people I’d enthusiastically hand the keys to, and he’s on that short list of one.”
For more information about SquareFoot, visit www.squarefoot.com.
Founded in 2011, SquareFoot is a new kind of commercial real estate company that helps companies solve their office space needs, providing transparent access to inventory, brokerage services, and flexible space offerings. SquareFoot also provides lease consultations, advises on subleasing spaces, works closely with and recommends reliable vendors to ensure a seamless move, and more. SquareFoot’s veteran brokers always put client needs first. The company has executed over 1,300 leases to date. SquareFoot is headquartered in New York City, and also serves 30 other national big-city markets.