Heritage Office Suites was born out of the building owner’s desire to make the most out of his commercial real estate investment. The center is located in Round Rock just outside of Austin, Texas. Round Rock is home to the technology giants of Dell, Emerson and others. The space that Heritage Office Suites now occupies once housed a large, national serviced office provider. The tenant was up for renewal and rather than entering into a negotiation that might not have been favorable, the owner chose not to renew their lease, but instead reworked the space into his own serviced office company. This way, he could benefit from market rate rent on the space and the profitability from owning the business.
The owner wanted to remain in the executive office suite industry after choosing not to renew the lease to the previous tenant. Yet, with other business ventures under his supervision, it was difficult to make starting a brand new business in an unfamiliar industry top priority. After making several phone calls, he was referred to Workspace Strategies to create the Heritage Office Suites’ brand identity, set up operations, and provide on-going management.
Solution and Results
Workspace Strategies established a strongly recognizable brand for the new serviced office company now known as Heritage Office Suites. The work began with re-designing the space, managing its improvements, procuring furniture, installing the proper technology, and ensuring that the facility’s look and feel was on par with industry benchmarks. The WS team created the company’s website, sales collateral, and marketing strategy at its inception. They also recruited, hired, and trained all team members. WS set up, manages, and provides payroll services for the Heritage Office Suites onsite staff. In addition, WS handles all of the bookkeeping, billing, and accounting for the business. The company’s owner has the freedom to be as hands off as he needs to be because Workspace Strategies oversees the entire operation. Heritage Office Suites opened in the winter of 2012. Today, the center is at 100% capacity with a wait list of approximately 6 months for office space. Additionally, the virtual office and meeting room revenues are very strong. With Office Suite Strategies help, Heritage Office Suites is experiencing mounting success. The owner, Mr. Joseph McReynolds says of his experience working with the WS team, “Partnering with WS for the opening and management of our new center has allowed us to compete against large scale operators and optimize our position as the premiere office suite provider in our market.”