Q & A with Federal Hill-based Startup Kinglet
Co-Founder Jeff Jacobson
Kinglet, an online startup company based in Federal Hill, just raised $500,000 in angel round funding and is excited to grow its office marketplace geared toward small businesses into Washington, DC and Philadelphia. SouthBMore.com caught up with the team from Kinglet, which was founded by Jeff Jacobson and Alex Kopicki, to learn more about this local company.
Tell us about Kinglet.
Kinglet is an online marketplace for office rentals. We curate amazing spaces and make them available to emerging companies. Kinglet helps entrepreneurs and small businesses stay nimble by providing month-to-month terms and all-inclusive pricing while also giving companies the opportunity to fill unused workspace and as a result, maximize revenue.
What was the motivation behind starting this company?
Kinglet was founded by Jeff Jacobson and Alex Kopicki, commercial real estate professionals who were fed up with the inefficiencies, limited options, and high costs across the industry. They knew it could be done better, had a vision and launched Kinglet – less as a real estate company than as an innovative technology-based solutions provider.
Leasing office space has traditionally been a cumbersome, time-consuming process that separates the haves from the have-nots. Kinglet’s platform levels the playing field and empowers both those with space and those who need it with transparent pricing and simple searchability.
How has the landscape of commercial real estate – and the type of spaces people are looking for – changed over the years?
On a macro level, the size of individual workspaces continue to shrink. The average workspace has gone from nearly 250 square feet in 2008 down to just 150 square feet today. At the same time, companies are leaning toward more open concept work environments intended to promote collaboration. Work environment, amenities, character of the space and neighborhoods are now a much bigger component of location decisions.
What are some hot areas around Baltimore where spaces do not sit on the market for long?
Mt. Vernon and South Baltimore are Kinglet’s most desired markets. Two recently renovated hot spots have been 520 Park Avenue and 1001 N. Calvert street.
South Baltimore has seen a surge in office space in recent years. What is driving the demand in areas like Federal Hill and Locust Point?
We’ve noticed that companies want to be near restaurants, bars and services to help attract employees. Federal Hill and Locust Point have all these attributes in addition to easy access to I-95.
Tell us about some of the current real estate developments Kinglet is working on.
Although Kinglet does not develop properties, we have several listings we just added to our online marketplace including Cordish Companies spaces located in Power Plant Live! and the Cummings & Co. listing on Boston Street in Canton. Additionally, we have collaborated with Corporate Office Properties Trust (COPT) to market short-term space to defense contractors in Columbia, Linthicum, Aberdeen and St. Mary’s County.
What do you like about running a company in Federal Hill?
Federal Hill is an ideal spot for Kinglet’s HQ. We can walk to restaurants, shops, bars and even to meetings Downtown. We have employees living in Baltimore City and County, DC and Annapolis and our location provides easy access for all.
About the Author: Kevin Lynch
Founder and Publisher of SouthBmore.com, longtime resident of South Baltimore, and a graduate of Towson University. Diehard Ravens and O's fan, father of three, amateur pizza chef, skateboarder, and "bar food" foodie. Email me at Kevin@InceptMM.com and follow me on Twitter at @SoBoKevin.
