YourOffice looks to grow nationally from Orlando base

The company, which offers 'serviced office space,' recently set up shop in the Plaza.

Sara K. Clarke | Orlando Sentinel Staff Writer

October 17, 2007

A new company in town is betting that lots of businesses need office space -- but don't want the cost and hassle of setting up and running their own offices.

YourOffice USA has bought the 15th floor of the North Tower of the Plaza, developer Cameron Kuhn's downtown mixed-use project, to provide "serviced office space" to executives and entrepreneurs.

The 19,000-square-foot facility has a communal receptionist, shared conference rooms and even a common-area coffee bar. Depending on the package they select, businesses or individuals can reserve an office or suite from a few hours a month to full time.

"We're really built for small teams, or teams in transition," said Scott Rae Buono, president and chief executive officer of the company, which recently relocated from Charlotte, N.C. "We're saving our clients a lot of money, relative to going and getting a first-class environment" elsewhere.

While Buono's company is new to downtown, the concept isn't. Several other companies provide similar services in Central Florida, such as Office Suites Plus, Intelligent Office and Pembrook Commons Center. The Crealde Executive Center in Winter Park advertises a "Fortune 500 atmosphere at small-business prices."

Business owners often turn to executive suites as a way to transition without a big commitment, said Jerry Ross, executive director of the Disney Entrepreneur Center.

Companies that are not sure how much space they need -- such as those that are growing or consolidating operations -- might turn to an executive suite, he said. In a real-estate market like today's, rental space is particularly attractive.

"Whenever we're in a time of transition, that's a great bridge," Ross said. "They also don't have to invest in infrastructure and IT."

The YourOffice USA concept is what Buono calls "brand-agnostic." In the common areas, there are no signs promoting any of the client businesses and none indicating that the offices belong to YourOffice USA. When the phone rings, a system indicates for which company the call is intended, and the receptionist can answer with the appropriate greeting.

The company also has a quickly growing virtual office segment -- people who get phone and mail services but don't spend much, or in some cases any, time at the office.

"They get the professional image, they get the assets when they need them, but they don't have to pay for them full time," Buono said.

Mike Picard, who is PNC Bank's representative in Orlando, has used executive suites for several years. He moved into the YourOffice USA suite two weeks ago.

"It's excellent," he said. "I have all that an assistant could do, plus more."

Services are offered a la carte, with the average office set-up costing about $1,000 to $1,300 each month, Buono said.

Generally, an executive would rent an office that ranges from 150 to 200 square feet. The company has commitments for about 45 percent of its facility, which opened Oct. 1, Buono said.

A typical downtown office space leases for $24 to $30 per square foot for the year, said Greg Morrison, owner of Morrison Commercial Real Estate. That price doesn't include the cost of amenities such as furniture, reception services, telecommunications equipment and conference rooms.

YourOffice USA has locations in Charlotte and Raleigh, N.C., Atlanta, Philadelphia, Denver and Birmingham, Ala. The company plans to grow its national presence through franchising, while maintaining its hub in Orlando.

Buono grew up in Central Florida. He recently was working in Washington, D.C., where he was involved in developing a network of executive suites.

Hometown connections aren't the only thing that brought him to Orlando: the area's growth interested him, and the serviced-office market downtown was "underserved," he said.

"Orlando's on everyone's top 10 lists these days," Buono said. "We're pretty excited about the downtown as an economic engine."

YourOffice USA has partnered with local investors, including Roger Soderstrom, founder and owner of Stirling Sotheby's International Realty in Lake Mary.

Soderstrom said he was attracted by the company's location -- one floor below his company's penthouse gallery in the Plaza -- as well as YourOffice USA's management.

"YourOffice USA is one of the leaders in the industry and they have a high-quality leadership team in place," Soderstrom said Monday in an e-mail. "Also, having their corporate headquarters here in Orlando was important to me."



Sara K. Clarke can be reached at skclarke@orlandosentinel.com or 407-420-5664.


 

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