Chattanooga Gets New Serviced Office Space

Published March 16th, 2009 by Jennifer LeClaire

In another example of developers eyeing the executive office suites industry, three businessmen in the Chattanooga area are transforming traditional downtown office space to serviced office facilities. Dubbed Carpenters Commons Executive Suites, the newly minted serviced office facility at 518 Georgia Ave. has 3,000 square feet of office space available for lease.

Greg Vital, Franklin Farrow and Mark Mourier purchased the building for $1.5 million and are leasing office space to area professionals. True to the serviced office industry mantra, the trio of businessmen are targeting small business owners and people who typically work out of their home.

The Chattanooga Times Free Press calls the Carpenters Commons Executive Suites project a novelty because tenants share utilities, an Internet connection and other services, but the serviced office concept are not quite a novelty in the Tennessee city. There are also executive office suites available for rent on E. 4th Street in the Riverfront District of Downtown Chattanooga and on Chestnut Street in a prestigious downtown high-rise.

Still, the serviced office concept doesn’t have the reach in Chattanooga as it does in Manhattan or Los Angeles. And Mourier told the paper that the common-use executive office concept that offers utility sharing are typically found in suburban settings. This shared utility concept, then, differentiates Carpenters Commons from its downtown competitors.

Carpenters Commons Executive Suites leases office space for $300 to $700 a month. It’s located near the Hamilton County Courthouse, making it an idea location for single-attorney law practices or smaller firms. Keller Williams Realty, DeMoss Accounting and DeMoss Capital Management, LLC are among the first tenants in the executive office suite industry’s latest entrant.

Like many others in the industry, Carpenters Commons’ owners, who own several downtown Chattanooga buildings, are betting downsizing will lead to an uptick in the use of serviced office space. This could be the first of a new wave of executive office space in the southern city’s core.

Related posts:

1. WSJ explains serviced office space best Wendy Bounds, a writer for the Wall Street Journal, spent...
2. Serviced Office Space Struggles in Small Washington Town For all the positive publicity executive office space and virtual...
3. Perfect Office Space for Lawyers There are several vertical industries for which executive office space...
4. New York Office Space About New York City and Manhattan The City of New...
5. The new office suite advantage Over the past several years, the office suite industry has...
6. Laughlin Associates Opens Alternative Office Space in Carson City, Nevada Laughlin Associates is no stranger to the virtual office market....
7. Asian Serviced Office Operator Leverage YouTube As you all know, aBetterOffice.com is on just about every...
8. Serviced Office Use on the Rise in Los Angeles Area Looking to rent office space on a budget? That’s the...

New York Office Space | Chicago Office Space | Los Angeles Office Space | Dallas Office Space | Houston Office Space | Washington DC Office Space

About the Author

Leave a Response