Trade Center Tragedy Lifts TenantWise.com from
Obscurity
By Alan J. Wax
Staff writer
October 2, 2001
Since its launch 18 months ago, few people knew that TenantWise.com
existed.
"We weren't even on the map," said M. Myers Mermel, president and
co-founder of the Manhattan-based online commercial property brokerage.
That all changed with the World Trade Center collapse and the displacement
of hundreds of tenants in the 13.4 million-square-foot office complex and 14
surrounding buildings.
Mermel and his 10-person staff have spent the days since the
terrorist attack attempting to track the exodus.
"We thought it would be helpful to everyone," said Mermel, a former
real estate adviser with Morgan Stanley. He founded TenantWise in
1999 with Caroline McLain, a former real estate portfolio manager
with First Nationwide Bank.
"It's not our intention to do anything to profit off this," he added. "All
of the work we've done since the 11th we've done gratis."
TenantWise's staff spent the days after the collapse attempting to
locate former trade center business executives who had begun working out of
their homes and borrowed offices, often reaching them on cellular
telephones, Mermel said.
The effort generated a plethora of publicity for the small firm. In the days
after the company's first report, published Sept. 21, Mermel was
quoted in the Wall Street Journal, the New York Times, Bloomberg News,
Newsday and other media.
Yesterday, TenantWise said its latest survey of companies that were
tenants of the World Trade Center and surrounding buildings found that many
have made long-term plans to relocate outside of Lower Manhattan.