Office Space Advice
Economy doesn’t stop office suite in Naples - Ft. Myers area
Published December 3rd, 2008 by Mike Sullivan
Bonita Bay Group, a community development company based in Bonita Springs, FL has opened a new executive office suite between Naples and Ft. Myers called The Brooks Executive Suites. There isn’t much information on it yet as the website is not complete. However, a quick search finds they are posting on Craigslist. They have office rentals from $400 for 110 square feet (not including furniture) and offer virtual office programs start at $75.
This is Bonita Bay Group’s only executive suite found on their website. The Brooks is managed by industry veteran Philippe Fregeau, who also owns and manages Bonita Executive Center and is president of EzExecutiveOffices.com.
Despite the number of business centers that are closing or struggling due to the economy, companies like Bonita Bay Group may have a better chance due either to fewer capital constraints, or as is often the case, they own the property outright and are looking at different ways manage their portfolio. The company is a large commercial real estate firm with a broad range of properties and interests. For more information visit their website.
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About the Author
Maggie Correta December 4th, 2008 at 11:17 am
Bonita Bay is a solid developer that has trended toward master planned communities. So it’s interesting to see this bet on executive office suites in South Florida. This is also one of the least expensive virtual office programs I’ve seen. As the office rental market is changing, Bonita Bay is shifting with it. This is a strategic move in Naples, which is still seeing population growth.
Pierre December 5th, 2008 at 6:07 am
Executive Office Suites have always been an alternative, especially for the entrepreneur and small business owners. More than ever, in these uncertain times, it makes a lot of sense to be able to get an office with no long term commitments.
Bonita Bay Group is smart to get into this field at this time. And they couldn’t have picked a better choice to manage their center than Phil Fregeau. I’ve known Phil for a long time and can attest to his keen knowledge of the industry, his professionalism and vision for the future of the industry.
Marcus Hester December 5th, 2008 at 7:36 am
Phil does have a great reputation, and he’s bringing a solid executive office suite property to Naples. This is an interesting market, lots of retirees there. But if Florida opens up new transportation corridors this could be one of the hottest spots in the Sunshine State. Bonita Bay is smart to get ahead of that curve and serve the Naples market with affordable office rentals now.
Phil Fregeau December 5th, 2008 at 11:25 am
Thank you all for the great comments! Keep em’ coming!
Over my 10 years in the industry, I have signed numerous leases, have seen small companies become multi-national firms and I have also seen my share of failed ventures. Overall, I attribute most of my success to not just signing a lease (anyone can do that) but by helping the tenants that I place, to GROW their business. I hold monthly in-house networking events at both my locations to encourage my tenants to go out there and spread the word about their business and of course my own!
I have spent little marketing dollars over the years and my business has been mainly word-of-mouth. This year I also launched my website http://www.EZexecutiveOffices.com to help generate more leads and help people find space. This way, even if I refer prospects to my competition, I still get a piece of the pie!!!
Tough times such as these have pushed me to look further into marketing and I encourage all of you out there to take a look as http://www.easylocalshopping.com to promote your business.
I always avail myself to fellow suite managers to offer insight and troubleshoot any challenge they may face.
Bill Brookshire December 10th, 2008 at 6:02 pm
The Brooks Executive Suites. Sounds like they named this Naples serviced office after me, LOL. That got me to thinking… this is a little quirky, I know. But it’s a branding issue that’s worth mentioning. How important is the name of an office rental? Regus has a recognized brand. But what about these smaller guys? Techspace says what it does. But most serviced offices I see don’t put much effort into the branding aspect, which could be a major mistake. Anyone have any thoughts on that?
Mike Sullivan December 10th, 2008 at 7:06 pm
There are a number of good ways to name your company. Giving it a place name (locale), like Fishers Office Suites gives you both an idea of where the office is, provides great SEO value, and using the industry terminology (”office suites”) ensures clarity of what it is. Or that locale name could give it some strong branding, like “the Brooks”, which is a very prestigious development which confers its brand equity onto the office suite.
But I think the most interesting (but not necessarily the best) are those who stamp their name with their point of differentiation, like Techspace, Green Desk or even Thinkspace in a bit more esoteric way. If their differentiation is in fact important to target segments, the name can make a big difference.
However, the reality is that location is the biggest differentiator in the market, and if you don’t have that nothing else you’ve got is going to matter much.
Melanie Jones December 11th, 2008 at 10:16 am
The strategy around naming a serviced office facility around a street name or city, like Orlando Serviced Offices, can pay off in many ways, as Mike said. The SEO value is indeed tremendous. It gives the local businesses the impression that your executive suites are part of the community. But it might not scale well if it’s a developer with multiple locations in multiple cities. In that case, the “say what you do” strategy works better. Thinkspace, Green Desk… it’s more memorable, too, at some level.
Elizabeth Sanchez December 12th, 2008 at 12:58 pm
Four hundred dollars seems to be a standard entry level price for a serviced office. Does anyone have any information about executive offices in various parts of the country? I know office rents are higher in Manhattan or L.A. Naples isn’t exactly the most metropolitan area, so I am not surprised that the prices are so low. But, again, it seems to be a common price point.