Office Space News
BusinesSuites Spreads Wings in Las Vegas Office Market
Published September 2nd, 2010 by Jennifer LeClaire
BusinesSuites is betting big on Vegas. But not in the casinos. The business center operator just announced the acquisition of two serviced office centers in Las Vegas. BusinessSuites purchased the business centers from Davinci Suites. Terms of the deal were not disclosed.
BusinesSuites Sahara and BusinesSuites Henderson will join BusinesSuites’ existing location on Howard Hughes Parkway. This trio of executive office suites give BusinessSuites a stronghold in the Las Vegas serviced office market.
“We are excited about our growth in the Las Vegas market,” says John Jordan, president of BusinesSuites. “While this market has been very hard hit by the current downturn, we believe this acquisition puts us in a favorable market position. We believe in the long-term viability of Las Vegas. Las Vegas is an entrepreneurial city and the flexible office and virtual office solutions we offer will help new businesses establish themselves.”
BusinesSuites Sahara is located off of I-15 and the Sunset Strip on Sahara Avenue in the Nevada Financial Center, a 12-story Class A building constructed in 1987. Nevada Financial Center features restaurants and retail on site. BusinesSuites will operate 46 furnished executive office suites, along with two conference rooms, a training room, and a café.
BusinesSuites Henderson is Southeast of Las Vegas in the Augusta Business Park near Green Valley. This business center is in a high-growth area just minutes away from the famous Mt. Charleston and Sunrise Mountain.
I’m fascinated by this deal. I’m not sure what Davinci Suites has up its sleeve. Davinci Suites has already taken the Las Vegas locations off its Web site. Davinci Suites now operates one executive office suite in Albuquerque, New Mexico and three in Utah, two in Salt Lake City, one in Sandy, one in Draper. It’s not clear whether occupancy was low at those Las Vegas serviced office facilities or if Davinci Suites has plans to expand into new markets and just wanted to free up capital.
For BusinesSuites’ part, the company just keeps on expanding. BusinesSuites has 16 locations across the United States, making it one of the larger serviced office operators. The company was founded in 1989 and has locations in Austin, The Woodlands, Las Vegas, Baltimore, Columbia, Ownings Mills, Richmond, and Newport News.
Related posts:
- Office space in Las Vegas for sale on eBay It’s exciting to see serviced office operators take chances on...
- BusinesSuites Recognizes Employee with “Can Do Spirit” Award Hurricanes. Power Outages. Economic Challenges. The past year has presented...
- Rent Office Space in Las Vegas for $15 an Hour Forget renting office space by the year, or even by...
- Davinci Rolls Out Paralegal Services for Serviced Office Clients In a move to drive more ancillary income, Davinci Office...
- Downtown Baltimore Office Vacancies Pass 20 Percent Mark If you think your local office market has it bad,...
- Houston Office Space Market Suffers Office markets in Dallas and Austin are down, but what...
- Davinci Virtual Expands Headquarters in Booming Virtual Office Market Davinci Virtual isn’t just growing its global presence in the...
- Dallas Office Space Market Still Recovering Dallas is leasing plenty of office space these days, but...
About the Author
Bill Brookshire September 2nd, 2010 at 3:26 pm
Very interesting. We’ve seen Intelligent Office buying back properties and Davinci Suites disposing of office space. I haven’t seen a lot of mergers and acquisitions in the serviced office industry this year, but those are some notable movements nonetheless. It will be interesting to see what Davinci Suites does next and how far BusinesSuites decides to expand in a down market.
Elizabeth Sanchez September 3rd, 2010 at 5:32 am
BusinesSuites is a great company. Its name always throws me, though, with the double s’es. I wonder if that confuses people… Interestingly, I just checked.BusinesSuites was smart enough to buy the domain names with three s’es and two s’es in the middle. Still, I think it’s confusing. Great serviced office space operator, though.