Office Space News
Pacific Business Centers Partners with ValleyHQ
Published February 25th, 2010 by Jennifer LeClaire
Pacific Business Centers (PBC) continues to get creative in its efforts to compete in a crowded California serviced office market. PBC just announced its latest in a string of successful business center partnerships. This time, PBC is hooking up with ValleyHQ, a top notch executive office suites provider in Bakersfield, California.
ValleyHQ officially joins PBC’s network and management structure. What does this mean for Bakersfield office space users? It means they’ll get to know PBC in a whole new way. ValleyHQ’s Bakersfield location will be co-branded and continue to serve the local market with the backing of PBC. This is a strategic move because it comforts the Bakersfield business audience with a familiar name while also furthering the PBC brand.
“I could not be happier with the opportunity to integrate one of the best run business centers west of The Rockies into our network,” says Laurent Dhollande, CEO of PBC. “The location in the center of town is ideal and the quality of the operation hard to match. But the real win for our company is Sasha’s Poljak’s addition to our executive bench.”
Getting to Know ValleyHQ
Poljak is ValleyHQ’s co-founder and president. He will officially become a PBC managing partner, charged with driving growth in his region. “Joining Pacific Business Centers gives us better access to economies of scale and increased operational efficiencies,” Poljak says. “This should enhance the value our clients receive and help us extend our marketing reach.”
ValleyHQ brings PBC immediate Bakersfield brand recognition, having served the market since 2006. ValleyHQ offers business clients a location in the heart of Bakersfield’s business district at 4900 California Avenue, Tower B-210. The 15,000 square foot business center features 45 furnished executive offices and four conference rooms capable of accommodating meetings from 2 to 75 people. The companies did not disclose its occupancy rate.
ValleyHQ offers a luxuriously appointed lobby, business lounge, state-of-the-art ShoreTel telephony, and a menu of support services. Clients can access support infrastructure on a pay-per-use basis, including phone answering services, and administrative support. With the infrastructure already in place, entrepreneurs can establish a business presence immediately and overhead minimized. Flexible lease options allow companies the freedom to grow or downsize at-will and without disruption.
Understanding PBC’s Partnership Model
PBC’s partner model is inspired by the legal field. Many law firms use a similar organizational model in which equity partners are co-owners of the company and contribute to the management of the overall infrastructure, but remain vested in the long-term success of their local portfolio because close proximity to the customer is critical to the entire organization’s success.
PBC’s launched its managing partner concept in 2007 when Tracy Conway Wilson, a successful owner-operator, joined PBC to grow the company’s portfolio in the Sacramento area. “We were doing fine on our own, but it became clear to me that I would probably not survive very long as an independent operator,” Wilson says. Three years later, Wilson manages three locations in the Sacramento area and is starting a fourth company under the PBC umbrella.
In 2008, PBC merged with American Executive Center and acquired two locations in the Silicon Valley area. Brothers Keith and Jeff Warner owned the centers. “Joining PBC allowed us to upgrade our technology platform and leverage marketing and operating capabilities that were unthinkable as a small operator,” says PBC Managing Partner Keith Warner.
Dhollande says the ValleyHQ transaction fits squarely into PBC’s “reverse roll-up” strategy aimed at partnering with top echelon operators. “The regional managing partners bring their expertise and local market knowledge,” he says, “while PBC provides economies of scale and opportunities to open new locations in partnership with local landlords.”
Financial terms of the deal were not disclosed, nor did PBC hint at other acquisitions. But one thing is certain: Regus is hardly the only fierce competitor in the California market. By joining forces with smaller operators, PBC is getting stronger every year and serves its clients well in multiple California markets. Smart company.
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Elizabeth Sanchez February 25th, 2010 at 9:16 am
Wow. Nice story. Great partnership. This model seems to be working really well for Pacific Business Centers. I can only imagine the due diligence that goes into putting these serviced office deals together. I sort of of wonder how many other executive suites companies they pass over as they look for the right partner. Congrats to PBC and ValleyHQ on the new deal.
Bill Brookshire February 25th, 2010 at 9:57 am
Pacific Business Centers is one of the smartest serviced operators out there, in my opinion. This company doesn’t get enough credit for its innovation. Their technology platform is among the best in the business and this partnership strategy is brilliant. Companies that rent office space from PBC can feel good about the company’s future in California and beyond.