Office Space News
Executive Office Suite Discounts in Cary
Published January 1st, 2009 by Jennifer LeClaire
I just stumbled upon a special promotion for an executive office suite complex in Cary, North Carolina. In fact, this serviced office space is found in a landmark building – the Lawrence Building – making it a strategic location in this southern city.
Kildaire Office Suites was running a year-end special for new tenants – a whopping $250 off the first month’s rent with a new 12-month lease. While most serviced offices try to communicate value, I haven’t seen such an aggressive promotion for serviced office space in a while. That makes me wonder…
Is Kildaire a genius in its marketing, targeting entrepreneurs and small businesses that may be looking to move their operations from their home to a rented office space, or move from a traditional, more expensive office lease to an affordable serviced office? Or is Kildaire desperate for new tenants?
Healthy Office Market in Cary
I suspect it is the former. Cary ranked 16th on CNNMoney’s 2008 list of America’s best small cities. Cary is adjacent to North Carolina’s famous Research Triangle Park, with Duke University, North Carolina State University and the University of North Carolina within a 20-minute drive. Two-thirds of Cary’s population has a college degree. Companies in the region include SAS Software, Epic Games and Cotton Incorporated, so the economy is holding steady.
Further evidence that Kildaire is doing well with its location and suite of office services is its vacancy. The complex only has 10 offices available, some one-rooms, some two-rooms and some three-rooms. Unlike many office space rentals, Kildaire actually lists its prices on its Web site. You can rent a single interior office, 160 square feet, for $410 a month.
Is the Price Right?
What might turn off some office space seekers are all the extra fees for add-ons, though. The telephone answering bundle is $140 for the first line. It costs $65 a month to use the office equipment. Custom call routing is $15. Long distance services are billed at 8 cents a minute. A dedicated local fax line, an 800 line, high-speed Internet access, photocopies, and conference room use all costs extra. There is a set up fee of $350.
The virtual office packages are formatted in a similar manner. Mail service is $49 a month, with day office rentals for $75 and conference room usage for $10 an hour. A premium package gives you a more robust set of services, including six hours of conference room use, live phone answering, and a full-time receptionist, for $165 a month. There is a set up fee of $299, which seems on the high side.
I wonder if it’s more effective just to offer a flat rate that includes all of that so folks don’t feel like they are getting nickled and dimed to death. This model can get pretty expensive in a hurry, but it might be a good option for folks who want an ultra-customized package to save costs.
What I also found interesting about Kildaire is they offer the option to pay your monthly office rent online. You can pay via most major credit cards, as well as through PayPal. This is a smart business move because it encourages more timely payments through convenience.
I am not sure if Kildaire’s special runs beyond Dec. 31, but I have a feeling if you negotiate you can get that deal during January if this serviced office provider still has space available.
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Marcus Hester January 2nd, 2009 at 6:57 am
There are pros and cons to the ala carte pricing model for serviced office space. At some level, it can be valuable because you aren’t paying for what you don’t want. But at the same time, things like phone lines and high-speed Internet are fairly obvious staples of doing business and should be bundled in the monthly office rental fees. Maybe they could have packages that had different levels of executive office suite rentals in terms of sizes and amenities.
Rob Zeus January 2nd, 2009 at 7:12 am
I know other serviced office providers have the add-on style pricing model, but I have never liked it. I want an all-in-one package where I don’t have to worry about long distance charges. Most phone companies today offer a flat fee for long distance, for example, and it’s fairly cheap. So the idea of paying 8 cents a minute for long distance these days doesn’t jibe with me.
Maggie Correta January 2nd, 2009 at 7:48 am
I like the ala carte package. What if I don’t use long distance at my office? The ability to rent an office space without paying for what I don’t use is attractive to me. I mean, I can see your points in your posts, but in a small town like Cary the economy may be different and the demand for office space may be different. I reckon this company is responding to what the local market wants.
Melanie Jones January 5th, 2009 at 5:30 am
It would be great to hear from someone at Kildaire to clear up the discount question. I’m also interested to know how many suites are in this serviced office facility. There are 10 vacancies, but how many total office spaces for rent? That would give us a better idea of the occupancy rate there. Cary is a great location for office space. I just wonder how this area is being affected by the economy. I’m guessing not as much since it’s so close to RTP.