Commercial real estate brokerage Quixotic Realty recently unveiled its unique approach to addressing commercial real estate leasing’s unique landscape for millennial small business owners.
Led by CEO and founder Donegan McCuaig, the company plans to offer tailored leasing solutions while educating both landlords and tenants. Quixotic also aims to provide an innovative environment for businesses to thrive.
Given that both groups have different leasing needs, a tailored approach is key for growth. For millennials, a sense of community and collaboration is often critical—with an emphasis on shared spaces and an open floor plan that fosters creativity and innovation. Meanwhile, small businesses usually seek flexible lease terms as they may be growing or may not have the financial stability to commit to a long-term lease.
McCuaig recognizes the influence millennials have within the CRE leasing landscape of downtown Los Angeles, which has prompted a paradigm shift in the preferences and requirements of this demographic. It’s why his firm has created an approach that specifically caters to these groups.
“We recognize the shift in the market and have adapted our approach to meet the needs of our clients,” McCuaig said in a statement. “We believe that small businesses and millennials require a different type of commercial space, one that fosters creativity and collaboration,” adds McCuaig.
Quixotic primarily works with a millennial demographic when it comes to lessees, so it’s become critical that the company educate landlords who might not be used to dealing with younger renters.
“Many commercial landlords these days are baby boomers, and if not, they are often millennials whose parents are baby boomers,” McCuaig said. “This generational schism has, in the past, often been a point of interest for organizations wishing to understand the changing landscape of business, but rarely has it touched upon in the real estate and property management sectors.”
In an effort to bridge the gap between generations, Quixotic will provide resources and guidance on how to negotiate with these tenants effectively. The hope is these efforts will create a more mutually beneficial relationship between landlords and millennial small business owners.
Through this educational and innovative approach, the company hopes to empower landlords to make informed decisions that meet the needs of both parties and ultimately lead to more successful rental agreements.
