If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!

Small businesses are a great opportunity for the commercial real estate market. One of the hardest things to develop and market are conversions of buildings from the large office to many smaller offices. The market includes people who want an office instead of working from home to corporations that want to have a satellite office for a key staff member, or to have a centrally located property.

 Here is an example of how Equity Office Properties is going after this market.

Equity Office Properties (EOP) has opened the local version of this space concept, known as “The FastOffice Center,” in 25,000 square feet on the third floor of The Terraces South, the 11-story, 505,000-square-foot Perimeter office tower on Perimeter Center Place.
FastOffice Centers offer leases running as short as one to 36 months. Amenities for businesses that rent space include a common kitchen, copy/fax and conference rooms, high-speed Internet access and a telephone network with active phones available at move-in. At the new South Terraces location, space is available in increments ranging from 80 to 2,000 square feet, with full-service asking rental rates in the $20 to $22 range.
This product is designed to offer a fast and flexible space option for small businesses. In the Perimeter market, that group “runs the gamut,” said John Sullivan, EOP vice president and Atlanta region market leader. He said it includes local units of national companies, as well as home-office workers wanting to move businesses out of their residences.
Small businesses account for a significant portion of office leasing activity in today’s Perimeter, said Kay Younglove, vice president with Colonial Properties Trust, another landlord in this market. “They like the Perimeter’s central location with respect to both customers and their employee pools,” she said. Via the Atlanta Business Chronicle.

Related posts:

1. Microsoft to Move Sales Office To Bellevue’s Lincoln Square Tower in 2007
2. AMLI to Develop a New Property in Atlanta
3. Buckhead in Atlanta a Microcosm For Commercial Real Estate?
4. HP Selling 2 Million Square Feet of Office Space in Hot Houston Market
5. Selling a Church Takes Supernatural Powers