Office Space News
Stark Business Solutions Expands, Takes on Investor
Published May 4th, 2009 by Jennifer LeClaire
While Regus is investing $45 million in telepresence equipment and installations, Stark Business Solutions is making some high-tech investments of its own.
Stark Business Solutions has expanded its Harrison location, adding nearly 2,200-square feet of space. That brings the Harrison location up to about 14,000 square feet. Stark houses more than 200 serviced office suites and workstations there. As part of the expansion, Stark is installing a complete fiber optics solution at all four of its New York locations.
“The changing face of the business environment in our current economic climate has created a demand for flexible office space and services. Part of the demand for space at the Stark Office Suites is the variety of options we offer to professionals,” said Adam J. Stark, president of Stark Business Solutions. “We grow with our clients and help them adapt to their changing needs.”
Since Stark doesn’t have the deep pockets of a Regus Group, the company has decided to take on an investor to help it leverage serviced office expansion opportunities in the current economy. White Plains, New York-based NYC Advisors, a business, financial and professional coaching advisory firm, is now an investor in the company. Financial terms of the deal were not disclosed.
Yoav M. Cohen, managing partner and CEO of NYC Advisors, and Ella Scheinwald, managing partner, will work with Stark to develop a strategic plan for the company’s continued growth. Cohen says, “As a client for many years, we are pleased to partner with Stark Business Solutions and help it build upon its substantial successes.”
In other Stark news, the Stark Office Suites of Scarsdale, which opened on February 1, has already filled more than 50 percent of its serviced office space. Clients come from industries including hedge funds, private equity, asset management, family office and consulting.
In addition to the Harrison location, Stark Business Solutions operates four executive office suites in Westchester County: White Plains, Mount Kisco and Scarsdale.
What’s next for Stark Business Solutions? Stay tuned to aBetterOffice.com for the latest.
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Bill Brookshire May 4th, 2009 at 1:23 pm
I’ve been watching Stark move. It’s interesting that they are taking on investors in the serviced office space. I have been wondering if the executive office suites industry would see outside investment. While NYC Advisors probably isn’t investing millions to help Stark Business Solutions expand, it’s a significant announcement nonetheless. Anybody think we’ll see more investment in the serviced office industry?
Rob Zeus May 4th, 2009 at 1:26 pm
It would be a great time for Regus to snap up some of its smaller competitors in the serviced office space. So long as the company is throwing around multiplied millions of dollars, why not? The only reason I can think of is that existing facilities might have to be totally refurbished, which would require even more investment. Regus, then, would really be acquiring serviced office customers. I am betting the company would rather go in and compete on its own merits and steal those customers if it had a choice.
Maggie Correta May 4th, 2009 at 1:31 pm
Stark must be a pretty smart guy and have a pretty smart business plan to convince one of his customers to invest in his serviced office expansion. I also wonder what kind of stake Stark gave up in his company. Those types of investments never come without a price. I do expect to see more investments in the executive office suites industry. Couldn’t say who from, though.
Melanie Jones May 5th, 2009 at 8:52 am
Maybe you guys could do a Q&A with Adam Stark about his plans to expand the serviced office facilities named after him. I see that you do Q&As with various people in the executive office suites industry. Just a suggestion.
Marcus Hester May 8th, 2009 at 2:50 pm
I get sort of tired of the marketing messages focusing on the economy. I guess that’s to be expected, especially in the serviced office industry. I mean, it’s true. But why does that mean I should choose Regus executive office space over a competitor? C’mon. Let’s not wear out this economic distress message.