Office Space News
Corporate Suites Business Centers Hits Inc. 5000 List
Published August 24th, 2009 by Jennifer LeClaire
When companies in the serviced office industry start appearing on the Inc. 5000 list, you can no longer deny the paradigm shift in world of office space, right?
Well, welcome Corporate Suites Business Centers to the list. Corporate Suites Business Centers is a flexible office space provider headquartered in New York City. The company has done what many companies in many industries only dream about: found its spot on Inc. magazine’s prestigious list of America’s 5,000 fastest growing companies.
“This was the first year we applied to the INC 5000, and we are honored to be a part of it,” says Hayim A. Grant, President of Corporate Suites Business Centers.
Where does Corporate Suites Business Centers rank? About mid-way through the list. The company ranks 2,247th overall in the U.S. That’s not too shabby. What’s even better is its ranking in New York at number 72 and is one of the top real estate services companies on the list.
Before we all rush to credit a down economy alone for Corporate Suites Business Centers’ success, consider the actual statistics behind Inc.’s rating. The company posted 139.5 percent growth between 2005 and 2008. That takes into account at least two good years of U.S. economic growth.
Corporate Suites, which earlier this year opened up a brand new business center at 757 Third Avenue at 47th Street, hopes to continue its growth and expansion. The economic doldrums may not be completely responsible for the success of Corporate Suites, but it is helping the company — and others like it — gain traction in the office space market.
“Due to the recession and economic crisis, office seekers have certainly become more price conscious. Thus, we have added new flexible officing solutions and lowered our asking prices,” Grant says. “We have also been pressured by the increase in sublease availability in NYC, however clients value our quick, seamless setup, turn-key telecom services, in-house support and professionalism and years of experience, therefore we have been able to stay strong even in the downturn.”
Corporate Suites is no newcomer to the industry. The company opened its doors in 1998. Corporate Suites is privately owned and has rapidly expanded its operations to seven locations including over 400 offices and a capacity of over 1,200 workstations. The company cites one of its keys to success is its high client retention rate, high occupancy and unsurpassed customer service.
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Melanie Jones August 24th, 2009 at 10:51 am
Congratulations to Corporate Suites Business Centers. That’s a really big deal!! Way to represent the executive office suites industry. I wonder how many others, if any, serviced office companies made the Inc. 500 list this year. Has anyone seen the list? Is there a noteworthy trend here to explore? Or is Corporate Suites the exception?
Jennifer LeClaire August 24th, 2009 at 10:52 am
Good question, Melanie. I’ll check into that and update you all.
Bill Brookshire August 24th, 2009 at 11:32 am
I thought it was interesting that Grant said this was the first year Corporate Suites Business Centers had applied to be considered for the Inc. 500 list. I bet most serviced office industry players don’t even think about the possibility that they might qualify. I applaud Mr. Grant for having the wherewithal to apply. And congratulations!
Rob Zeus August 24th, 2009 at 11:39 am
You guys keep saying Inc. 500. It’s the Inc. 5000 that Corporate Suites Business Centers appeared on. If it was the Inc. 500 list, that would be astounding. I’m interested also to see if any of the serviced office industry brands made it into the top 500. I wouldn’t be surprised if Regus was on that list. Thanks for checking into it.
Maggie Correta August 24th, 2009 at 12:52 pm
That’s a good point about the recession helping but not being completely responsible for the triple-digit growth at Corporate Suites Business Centers. What would be really interesting and telling would be to know how much growth occurred in 2005, 2006, 2007 and 2008 and how that tracks against the general growth in the serviced office industry in the U.S.
In other words, is Corporate Suites growing faster or at the same pace as its executive office suites counterparts?
Elizabeth Sanchez August 24th, 2009 at 12:56 pm
It looks like this office space provider is better known in Manhattan than in other parts of the country. I haven’t heard of this particular serviced office company. Being ranked 72 in New York is pretty impressive, given the number of commercial real estate interests that are there.
Sunshine Realty Management Hits Inc. 5000 List August 27th, 2009 at 7:13 am
[...] this week, I wrote about Corporate Suites Business Centers ranking 2,247th on the Inc. 5000 [...]