Executive Suites: Office of the future?

I just spoke to one of my favorite managers in Orange County and she said that she has some terrific corner office suites available…in January!  Her offices average $1000 per office  that includes a phone system, T-1 internet and parking.  Wait a minute, aren’t we in a recession?  Every where I go, I see “Office Available”, or “Building for Sale”.  So why does a high-priced executive suite business center has a 100% occupancy rate?  Is this a fluke?

The fact is, there are many business centers nationwide that have high occupancy rates. Having a high rate of 80% or more in occupancy is a norm in the Executive Suites industry. Think about the type of companies that does well in a recession.  Discounters like Walmart and Target are thriving while other companies are laying off employees in order to survive.  So, are Executive Suites the discounters of the Real Estate industry?  No.  As a matter of fact, on a per-square-feet basis, Executive Suites are more expensive than the traditional office.  So why do Executive Suites do so well as a whole? There are quite a few reasons but the answer here is value.  Think about the last time you went into a burger house.  You can order a deluxe burger with all the trimmings for $3.95, a large fries for $1.99, and a large Coke for $1.79.  Oh wait, let’s look at the combo meals to see if there are any value there.  There it is, everything that you wanted for $5.95.  Executive Suites, in essence, bundle the office and the services together like a value meal and charge you one price.

Let’s look at the normal services that are included in each office package.  Services and packages differ for each business center, so make sure you talk to your center manager and ask her to explain to you everything that is included in your office “value meal”.  For simplicity purposes, let’s look at the services found at most business centers.

• Reception services – think about how much you are paying a receptionist to answer your calls and meet-and-greet your clients. $10 per hour?  In an Executive Suites, the meet-and-greet service is included in your office package, and personalized answering service is a measly $25-$100 per month extra.  This service is worth every dime to have another person represent you and your company.
• Phones and voicemail – How much would you pay for At&T to install a business line at your office?  What happens if your phone service is down, who will be there to get you back up?  A phone system in an Executive Suites averages $50 a month, and if your phone goes down, someone is on it ASAP.  Most business centers charge for long distance calls, so know what you are getting with your phone system so there are no surprises.
• Internet –  The average price for internet in a business center is $50 per month.  The speed varies, but typically it’s  a T-1 line, more than adequate for your computer needs.
• Furniture – Not all Executive Suites include furniture in their office packages, so inquire to see if your office includes furniture.  Sometimes, an office package is cheaper because it does not include furniture.  You can benefit from this if you have your own furniture.  Otherwise, there is a rental program that all business centers have. However, this is done usually through a third party and the prices can be high.
• Parking – does your center has parking fee?  In Los Angeles, it’s difficult to get free parking. So budget the parking in with the office package to make sure you are getting the best deal.  Parking fees range from free to $250/month in downtown LA.
• Conference rooms – Most business centers have conference rooms that will allow you to conduct team meetings and meet with clients.  Check with your business center to see how much usage is included in your lease.
• Misc services that will benefit you and your business – Fax, beverage services, light secretarial duties, catering, networking, conference room usage, copy room services, concierge services are some that comes to mind.  These services are either minimal monthly cost or charged per hour, depending on locations.

I believe that Executive Suites will be the office of the future.  With services like reception, conference room usage, and phone and internet services all packed into your lease at a fair monthly fee, more small companies are moving out of their large traditional offices and home offices into Executive Suites.

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About Office Boulevard:  We are a nationwide Executive Suites search firm. We will help you locate the best office for your requirements at the best price.  Our services is always FREE to you.  To inquire, please contact us at 949-800-5507 or inquire@officeblvd.com.  To inquire online, please go to ineedoffice.com.

2010 Business Centers / Executive Suites Ranking

Office Blvd has ranked business centers that we did business with in 2010.  There are a number of criteria that we used in determining where each center stand. These criteria include:

• Quality of centers and services offered . Visual appearances, diversity of products and services (Quality)
• Value.  What clients received in products and services compared to prices. (Value)
• Response time to lead (Response)
• Communication with Office Blvd on existing leads status, follow up after tours (Communication)
• Report to Office Blvd once a sale has been made (Sale)
• Paying invoice in a timely manner (Invoice)

♦ Bad  ♦♦Below Avg   ♦♦♦Average   ♦♦♦♦Above Avg   ♦♦♦♦♦Best

Premier Business Centers (www.pbcenters.com)

1. Quality:  ♦♦♦♦♦Best – over 60 centers nationwide, mostly Class A offices, excellent locations, beautiful offices
2. Value: ♦♦♦♦♦Best  – very easy to close a Premier property with clients, GM’s and Regional Managers work together with broker to find the best deals for clients, excellent value for the money, would go lower to beat competitor to get business.  Clients win in most cases.
3. Response: ♦♦♦♦♦Best – fast response, they understand the business and move fast
4. Communication: ♦♦♦♦♦Best – Some Premier managers got it down to a science, some you have to nudge but they are very responsive
5. Sale: ♦♦♦♦Above Avg – same response as #4
6. Invoice  ♦♦♦♦♦Best – once an invoice is sent, it’s like clockwork with Premier, usually received within 14 days.

Special kudos to Jennifer Miller and Remaliah Evans, two of the hardest working Premier managers.

Regus (www.regus.com)

1. Quality:  ♦♦♦♦♦Best – 1000 offices worldwide, all Class A offices, excellent locations, beautiful offices
2. Value: ♦♦♦♦Above Avg  – Prices are a little higher, on the average, but they have excellent products, so the prices are justified.  If a client is on an economy budget, it’s harder to close them on a Regus office…just by experience.
3. Response: ♦♦♦♦♦Best – fast response, they understand the business and move fast. They are the best in the biz in this category.
4. Communication: ♦♦♦♦♦Best – I think their competitors need to take notes here. Regus’ computer system sends notices to brokers when a prospect is touring.
5. Sale: ♦♦♦♦♦Best – Again, competitors need to take notes here.  Computer system sends an email to brokers when a deal has been done.
6. Invoice  ♦♦♦♦♦Best – no invoice needed, they process their checks automatically and sends out checks within 21 days.

Special kudos goes to Grant Fawcett, the Area Manager of Orange County.   He is one of Regus’ elite.

Meridian Business Centers (www.meridianbusinesscenters.com)

1. Quality:  ♦♦♦♦♦Best – a couple of handfuls of Class A offices in Dallas/Ft Worth
2. Value: ♦♦♦♦♦Best  – their office package starts at $395, and that includes office, phone, internet, telephone reception, 55 hours conference and more.  That’s hard to beat…anywhere in the county.
3. Response: ♦♦♦♦Above Avg – decent response, they let their prices do the talking, closing ration is below average.  Managers are not aggressive enough.
4. Communication: ♦♦Below Avg – no updates on tours, and hardly any follow up
5. Sale: ♦♦♦♦♦Best – They are one of the best when a sale is done. They promptly follow up with an email with the exact details of the sale.
6. Invoice  ♦♦♦♦♦Best – best of the best here.  They mail a check within 3 days that a sale has closed.

Special kudos go to Heather Johnston and Margaret Peterson.

ABT Executive Suites

1. Quality:  ♦♦♦♦♦Best – Beautiful Class A Executive Suites in Dallas/Ft Worth
2. Value: ♦♦♦♦Above Avg  – Prices are competitive with Regus, still a little higher than others but great products.
3. Response: ♦♦♦Average – good responses for tour availabilities
4. Communication: ♦♦Below Avg – no updates on tours, and hardly any follow ups
5. Sale: ♦♦♦Average – getting better, hope it keeps up
6. Invoice  ♦ Bad – All invoices go beyond 30 days

Special kudos go to Lisa Jones, very hard working manager who get the job done.  Toward the end of 2010, ABT sold 90% of their holdings to Regus, now only operating 2 centers.

Synergy Workplaces (2009)

1. Quality:  ♦♦♦♦♦Best – Beautiful Class A Executive Suites, maybe a couple dozens spread out all over US.
2. Value: ♦♦♦Average  – Average at best.  Competitors were killing them, closed down a handful of centers in CA in past 18 months.
3. Response: ♦ Bad –  nothing good to say here, there is an exception in my kudos below
4. Communication: ♦♦Below Avg – no updates on tours, and hardly any follow ups
5. Sale: ♦ Bad – other than my kudos below, nothing worth noting
6. Invoice  ♦ Bad – We had invoices that went unpaid even after Accounts Payable said that the check is in the mail

Special kudos go to James Reid.  This man works extra hard to get a deal done, great at following up with brokers, very responsive.    Synergy Workplaces is no longer doing business under the Synergy name.

Carr Workplaces (http://carrworkplaces.com/)

1. Quality:  ♦♦♦♦♦Best – Beautiful Class A Executive Suites, over a couple dozen centers concentrated on the East and West Coasts.  Very strategically located in the best part of town.  Century City center is the gem of Los Angeles, with Catalina Ocean view offices.
2. Value: ♦♦♦♦Above Average  – Not the cheapest, not the most expensive, but good value for the locations that they are in.
3. Response: ♦♦♦♦♦Best
4. Communication: ♦♦♦♦♦Best
5. Sale:
6. Invoice:

Kudos to James Reid and Amy Triscari, great experiences working with them in the past.

Newport Business Center at 110 Newport Center Drive, Newport Beach, CA

1. Quality:  ♦♦♦Average – One office in Newport Beach
2. Value: ♦♦♦Average  – High rent for average product, but it’s Newport Beach
3. Response: ♦♦♦♦Above Avg –  Stephanie MacDonald is an excellent manager
4. Communication: ♦♦♦Average – good updates from Stephanie
5. Sale: ♦♦♦Average – not bad, not great, just okay
6. Invoice  ♦ Bad – Had invoices going into 90 days and numerous emails before owner paid

Special kudos go to Stephanie MacDonald.

Alicia Suites in Mission Viejo

1. Quality:  ♦♦♦Average – Nice Class B office in Mission Viejo
2. Value: ♦♦♦♦♦Best  – All Inclusive packages from $399, no nickel and diming, easy sale
3. Response: ♦♦♦♦♦Best – Michael moves fast and does very well to close the lead
4. Communication: ♦♦♦♦♦Best – Michael again communicates very well after every tour
5. Sale: ♦♦♦♦♦Best – Michael promptly informs of a sale that has been completed
6. Invoice  ♦♦♦♦Above Avg – no complaints, invoices usually paid within 30 days

Special kudos go to Michael Broderick and staff, they are always ready for a tour.

Saianvi Investments in Mission Viejo  (http://saianvi.com/)

1. Quality:  ♦♦♦Average – Nice Class B office in Mission Viejo
2. Value: ♦♦♦♦♦Best  – All Inclusive packages from $399, no nickel and diming, easy sale
3. Response: ♦♦♦♦Above Avg – Ritu is always ready for a tour, anytime, very easy to communicate
4. Communication: ♦♦♦♦Above Avg – Again Ritu is a great person to do business with
5. Sale: ♦♦♦♦Above Avg – promptly informs of a sale once it’s done
6. Invoice  ♦♦♦♦Above Avg – no complaints, invoices usually paid within 30 days

Special kudos go to Ritu Thipar, always ready to tour prospects

Regent Business Centers (http://www.regentbc.com/)

1. Quality:  ♦♦♦♦♦Best –  About a dozen offices mostly in California, very beautiful classy offices
2. Value: ♦♦Below Avg  – very expensive offices, but situated in affluent business areas
3. Response: ♦♦♦♦Above Avg – Above average response to leads
4. Communication: ♦♦Below Avg – no updates after tours
5. Sale: ♦♦Below Avg – no updates once a sale has taken place
6. Invoice  ♦♦♦Average – invoices usually paid 30-45 days

Special kudos to Bridget Villeta, she is a pleasure to work with.

Platinum Office Suites (http://platinumofficesuites.com)

1. Quality:  ♦♦♦♦♦Best –  one office in Westlake Village, very beautiful office
2. Value: ♦♦Below Avg  – very expensive offices, hard for brokers to sell, not very negotiable
3. Response: ♦♦Below Avg – below average response to leads
4. Communication: ♦♦Below Avg – no updates after tours
5. Sale: ♦♦Below Avg – no updates once a sale has taken place
6. Invoice  ♦♦♦Average – invoices usually paid within 30 days

Barrister Executive Suites (www.barristersuites.com)

1. Quality:  ♦♦♦♦♦Best –  About 20 offices in Southern Cal, gorgeous offices
2. Value: ♦♦Below Avg  – very expensive offices, hard for brokers to sell, cater to unique clientele
3. Response: ♦♦♦♦♦Best – They jump on the lead immediately
4. Communication: ♦♦♦♦♦Best – communicate mainly via emails to update brokers and other managers
5. Sale: ♦♦♦♦♦Best – communicate via email
6. Invoice  ♦♦♦♦Above Avg – invoices usually paid when client takes space

Special kudos goes to Dawn Armstrong. Aggressive and persistent, gotta love that.

Apollo Business Centers (www.ABCVirtualOffices.com)

1. Quality:  ♦♦♦♦Above Avg – Nice Beverly Hills Office on Wilshire Blvd
2. Value: ♦♦♦♦Above Avg – Very good value with all inclusive packages, prices still high but it’s Beverly Hills
3. Response: ♦♦♦♦Above Avg – Julia is very good about responding to leads and tour schedules, although it seems like she takes on many hats, so she is busy most of the time.
4. Communication: ♦♦♦Average – need more communication here after tours
5. Sale: ♦♦♦Average –  need more communication after sale
6. Invoice  ♦♦♦♦♦Best – great turnaround on invoice

Kudos to Julia, she sends us free leads whenever she can’t help them.

These are opinions expressed by Office Boulevard only.  Different brokers may have different experiences with these business centers.  Special thanks go to Search Office Space and Daniel and Jason Soffer, looking forward to a great 2011!

Dallas Executive Suites, Getting the Most Bang for Your Buck

Dallas/Ft Worth has one of the best market for executive suites.  Offices are cheaper, relatively, and you get more services for your money.  Take phone and internet services, for example.  Let’s say you call AT & T to install a business phone line and High Speed internet in your home office.  Besides installation cost, your monthly cost is around $100-$120 with taxes.  Not bad.  Now let’s look at what you get for the same amount in an executive suite in Dallas.

• Phone system with rollover line and voicemail and free local calling*
• T-1 or T-3 internet, much faster than DSL
• Telephone answering by a receptionist during business hours…WOW

So you see where I am going with this.  You actually save money by investing in an executive suite.  What else do you get?  I am listing these in bullet points so I don’t go on a tangent. If you have any questions, just call me.  For as low as $399** a month, here is what you get.

• A private office with a lock and key
• Furniture, but depending on the center, some of them has a furniture add-on for a few more bucks per month
• Phone and internet and telephone answering, as mentioned above
• Fax line, at some centers this is an add-on
• Usage of luxurious conference rooms, some centers offer up to 55 hours per month!
• All Utilities (My electric bill is over $500 in the summer at home, so do the math)
• 24/7 access
• Kitchen privileges, usually free water and coffee, some offer bagels and doughnuts on certain days
• Live receptionist to meet and greet your clients, priceless for most professions.  Think about how much you would have to pay a secretary in your traditional office space.  This benefit is worth hundreds of $$$ per month.
• Short-term leases, usually up to a year is max
• Copy and mail center, lounges and sometimes fitness centers are benefits of an executive suite
• A corporate feel.  Your clients are immediately greeted by a receptionist, you won’t have clients wandering down a empty hallway…terrible!
• Most have free parking for you and your clients.  Downtown Dallas do have paid parking though, can’t avoid that.

I know I listed some benefits in there, but hey, I’m passionate about this.  I think every entrepreneur and small business should be in an executive suite, it just makes perfect sense.  Plus, these centers are great for networking, and the centers have functions where you can meet other businesses and network with them.

Now a little reason why you should let me represent you for an executive suite.  Plain and simple, I am the best. I’m honest, hard-working, and I maintain excellent relationships with my center managers so that when I call them and ask for a reduction in rent for my clients, or a little more service, more conference room time, or even free rent, they usually oblige.  It’s a little bit of an unfair advantage if you use my free service (YES IT’S FREE), but I’m all about saving money, and I will save you money.   I have a 6 yr old and a 1 yr old, I know how to get the most for my money.  Oh, did I tell you I grew up in Dallas? So I know my territory very well too.  Call me or email me your requirements and let me help you get the best deals.

JC Nguyen

jcnguyen@officeblvd.com

949-800-5507 office

214-435-8623 cell

www.officeblvd.com/dallas.htm

*You do have to pay for long distance, as this is an income center for executive suites.

*$399 is the lowest I’ve been able to get.  The average in Dallas is $500-$1000, depending on size and other factors.

Beautiful Lakeshore Executive Suites in Irvine, CA

Located just 2 blocks from John Wayne Airport, this executive suites has offices and mini suites to meet your company needs and the most competitive rates around.

Amenities:

• Professional On-site Manager
• Individual Offices and Mini Suites
• Furnished or Unfurnished
• High Speed T-1 Internet Access
• 24 Hour Suite Access 7 Days a Week
• Personalized Answering Service & Voice Mail

• Conference Rooms with use of over 600 Locations Worldwide
• Professional Mailing Address
• Secretarial Services
• Facsimile, Photocopies and Postage
• Coffee & Tea Service and Kitchen Facilities
• Virtual Office Packages starting at $95/month

Location:

• Convenient to John Wayne Airport, restaurants, and fitness center

Offices at this location average 150sqft and starts around $500.

Please call 949-698-4799 to arrange a tour or get a free proposal via email.

Or Click here to submit your request

Click here for a listing of other Orange County Executive Suites

Class A Atrium Executive Suites in Irvine, CA

Located just 2 blocks from John Wayne Airport, this executive suites has offices and mini suites to meet your company needs and the most competitive rates around.

Amenities:

• Professional On-site Manager
• Individual Offices and Mini Suites
• Furnished or Unfurnished
• High Speed T-1 Internet Access
• 24 Hour Suite Access 7 Days a Week
• Personalized Answering Service & Voice Mail

• Conference Rooms with use of over 600 Locations Worldwide
• Professional Mailing Address
• Secretarial Services
• Facsimile, Photocopies and Postage
• Coffee & Tea Service and Kitchen Facilities
• Virtual Office Packages starting at $95/month
  

Location:

• Two blocks away from John Wayne Airport
• 5-story parking structure and ample surface parking for visitors
• World-class restaurant, deli, car detailing, 24/7 security, and banking on site

Offices at this location average 150sqft and starts around $650.

Please call 949-698-4799 to arrange a tour or get a free proposal via email.

Or Click here to submit your request

Click here for a listing of other Orange County Executive Suites