Commercial real estate being sold over Internet. (Technology).

With the help of the Internet, individuals and companies looking to lease or buy commercial real estate can begin the process without leaving their desks, according to RealEstateJournal.com, The Wall Street Journal's Guide to Property.

"Consumers have long been able to research residential real estate listings online at no charge," says Tony Lee, editor in chief and general manager of RealEstateJournal.com. "The Internet is a real time-saver, and it is especially cost-effective for small businesses seeking to expand into new geographic areas or set up new offices."

Previously, people looking for commercial real estate would begin their search by contacting brokers in the geographic area, provide information about what they were looking for, and wait to find out what was available. Now, companies can see at a glance what's available, get a sense of prevailing lease rates or sale prices, begin to narrow down the listings, and start the buying or leasing process right away.

LoopNet, Inc., one of the world's largest online commercial real estate marketplaces, supplies RealEstateJournal.com with listings of available properties from across the U .S. and Canada. LoopNet's inventory includes more than $130 billion of commercial properties for sale and more than two billion SF of space for lease.

"The Internet is transforming the way businesses search for available space and shop for commercial property," says Richard Boyle, president and CEO of LoopNet. "The net effect: Smarter business decisions made in less time and at a lower cost. With a critical mass of commercial property information now available on the Internet, hundreds of thousands of businesses are expected to begin their search for property online in 2002."