Office Space News
Arizona broker opens Tucson executive suites
Published December 5th, 2008 by Jennifer LeClaire
In the latest move in the Arizona office market, Tucson Realty & Trust Co. has opened Wilmot Corporate Executive Suites to fill what it has deemed a growing need for affordable office space in a down economy.
“The national economic upheaval caused some businesses to reduce their office space requirements, based on feedback we received from the regional business community,” says Hank Amos, CEO of Tucson Realty & Trust Co., a leading commercial real estate brokerage and management company in Tucson, Ariz.
“Wilmot Corporate Executive Suites offers companies a prime location at the right price and with flexible lease terms,” he continues, “whether they are small start-up organizations or larger businesses looking to expand into the Tucson market.”
More than 30 fully furnished and non-furnished suites from 100 to 1,500 square feet are available at 333 N. Wilmot Rd. in the National Bank Plaza. Monthly rent starts in the $400s and feature high-speed T-I Internet, full kitchen facilities and parking.
According to Amos, tenants can expect to save from $3,000 to $5,000 monthly, depending on their circumstances. That’s the promise of serviced offices – small businesses pay pennies on the dollar for top quality office space with amenities they wouldn’t otherwise be able to tap into.
For example, Tucson is making available on-site administrative that can perform tasks from simple call answering to full secretarial support. For companies that need more space to offer presentations or conduct large meetings, small conference spaces and large boardrooms with white boards and video technology are available for tenants.
From law firms to accounting firms and from technology companies to corporate head offices, serviced offices are serving an unmet need in a recessionary environment. Just ask Silverman & Associates, a start-up wealth-management firm in Tucson.
Silverman & Associates recently chose to office at Wilmot Corporate Executive Suites. The firm’s president, Mark Silverman, said he needed a well-known location in Tucson that helped project a professional image to his client-base at a fair price, a common reason companies and entrepreneurs choose executive office suites.
“Clients always comment that they can easily get to our offices and have lots of parking space,” Silverman says. “As a new business owner, it was important for us to have an accessible workplace that’s affordable and looks great.”
In addition to signing a short-term lease for a serviced office, businesses and entrepreneurs looking to reach Tucson’s growing population can use the suites as a virtual office instead of having a physical presence.
“We want to encourage more businesses to work affordably inside Southern Arizona and take full advantage of our business landscape,” Amos says. “Our suites can be a cost-effective way to spend more time focusing on net income, rather than having excessive fixed expenses, while working at a premiere address.”
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Maggie Correta December 5th, 2008 at 7:16 am
It seems like more and more executive office suites are springing up every day. This one in Tucson, which is a thriving city. Arizona is one of the big four states in terms of residential real estate foreclosures, and its commercial office rental market has also been affected. This broker is offering a much-needed service that should be well-received in the Arizona office market.
Rob Zeus December 5th, 2008 at 9:29 am
This executive office rental in Tucson demonstrates a savvy broker. Amos seems to have a pulse on the market — when offices leases aren’t happening try short-term office rentals. It looks like this concept has been well received in Southern Arizona. He’s pushing all the right buttons, anyway. Kudos to you, Mr. Amos.
Elizabeth Sanchez December 5th, 2008 at 11:28 am
I like the idea that a wealth management firm is being smart with its office rental dollars. This Tucson serviced office is a good example of how to target prestigious industries that help make the case for executive office suites for you. Being able to point to a wealth management firm as a client should help attract other locals to the concept.
Marcus Hester December 9th, 2008 at 6:29 pm
I thought it was interesting that, of all things, the wealth management entrepreneur commented about how much parking was available at his Tucson executive office suite. Silverman says. I can understand it’s important to have an accessible workplace. In fact, for some types of companies that see a lot of foot traffic, like accountants and law offices, this would be a prime factor for an office rental. I thought it was a good observation.
Melanie Jones December 10th, 2008 at 6:56 am
Silverman also said he needed a well-known location for his executive office suite. Not just any place in Tucson would do. Like other cities the size of Tucson, I’m sure there are prime locations for office rentals and subprime locations for office rentals. The National Bank Plaza seems to be an especially strategic executive office location for a wealth management firm.
Bill Brookshire December 12th, 2008 at 9:22 am
With monthly rents starting at $400 at this serviced office — and a promised savings of at least $3,000 a month over traditional office alternatives in Tucson — Silverman has done a great job of defining one of the key value propositions of executive suites: price. I think providers that continue to drill that message can leave a lasting impression even when the markets recover.