A solid career in technology, like a structure built for the ages, rests on a rock-solid foundation.
Skip Rudolf devoted more than two decades to steadily building and strengthening his knowledge and skills before he launched PublicAssets last summer. The company provides a commercial real estate platform that aggregates more than 5.5 million records about government properties, lease expirations, contacts and real-time requirements.
Capstak and PublicAssets recently announced a strategic partnership that allows Capstak to on-board PublicAsset’s data into Capstak’s proprietary Haves & Wants platform.
Before launching PublicAssets, Skip had worked in management, marketing and sales positions in the technology sector. He posted a record of consistent successes in a career that ranged from early-stage startups to mature companies. He is skilled in both the B2B the B2C sectors.
And along the way, Skip won wide admiration for his skills in strategic partnerships, software-as-a-service, product management and the full array of marketing.
He earned a bachelor’s degree in history from Colgate University.
He answers our questions:
There are several needs that PublicAssets addresses. Governments across the United States are in massive debt and face $7 trillion in unfunded pension obligations. They also own massive amounts of assets, with commercial real estate being the largest class. We've aggregated information on what real estate 95,000 governments, authorities, and districts own and lease from third parties, as well as their current commercial real estate requests for proposal. For a resident of a municipality, county, state, and indeed the United States, gaining access to this information is a first. For the commercial real estate industry, we offer easy access to hundreds of thousands of opportunities for engaging with governments that want representation, may renegotiate or relocate leased space, and sell or partner with developers. Given that governments will need to sell or better sweat their assets to meet their obligations, these opportunities will increase dramatically and governments are already acting more commercially.
Governments, traditionally, have provided public notice of their RFPs through local newspapers and more recently, through their websites. That isn't enough. For governments, PublicAssets provides exposure to tens of thousands commercial real estate agents and brokerages across the United States.
Governments own and lease a diverse array of commercial real estate. In all, governments own approximately 10 billion square feet of commercial real estate. In our database we have over 500 million square feet of leases in which governments pay rent to third parties. At the local and regional levels they own and lease lots of office space, storage space, space for courts, community services, public safety such as police substations, and transit- and trade-related properties, including airports and ports. They also own and lease lots of real estate for health clinics, sports and leisure facilities, and communications. At the state and federal levels, governments own and lease greater amounts of space for administrative service functions such as taxation and finance departments, lotteries, public services, postal services, defense, etc.
Gone are the days where most government commercial real estate was marble, Federalist-style courts and post offices. Governments own and lease some of the most modern, environmentally friendly, and relevant space in the commercial real estate market today. Cities and states especially are leasing office space in Class A buildings across the country, and the General Service Administration's largest lease is for the new 2.3 million RSF U.S. Patent & Trademark's headquarters in Alexandria, VA.
I received wise advice and help from many people so far. Dag Detter, one of the leading experts on public assets who consults with the IMF and many countries across the globe, advised that the company keep its revenue model aimed toward industry. Jordan Nof of Tusk Ventures underscored the value of PR. Duke Long encouraged the company to expand its horizons into the broader commercial real estate ecosystem. And customers, ultimately, offer the best insights and encouragement.
PublicAssets is focused on enabling agents, developers, investors, appraisers, and governments to proactively engage around opportunities for better outcomes and expanded economic opportunities. Capstak is a company with a kindred spirit with its Haves & Wants functionality, it is a natural hub for commercial real estate professionals across the country to engage through actionable connectivity.
[Laughs]. With a toddler at home, launching a tech company is strangely relaxing and routine! Seriously, there is pressure, stress, and curveballs, so to relax I take our dog for early morning walks in the hills of Mill Valley with owls hooting and savor the times with my family that are funny or calm.