Category: Commercial News

Unlocking Productivity and Flexibility: Exploring the Benefits of Executive Suites

Posted on 09/26/23

Capitol Center Executive Suites Reception

By Kaley Tucker, RPA
Property Manager | Partner

In the ever-evolving landscape of modern business, traditional office spaces are no longer the sole option for professionals seeking a conducive work environment. The rise of executive suites, also known as co-working office spaces, has transformed the way people work, collaborate, and succeed in their careers. In this article, we will delve into the key features of executive suites and explore the diverse range of individuals and businesses that can benefit from them.

What Are Executive Suites?

Executive suites, often referred to as co-working office spaces, are flexible workspace solutions that provide a wide range of office amenities and services within a shared environment. These spaces are designed to cater to the needs of professionals, freelancers, startups, and established businesses alike. They offer an alternative to the traditional office setup, allowing individuals and organizations to work in a collaborative and cost-effective environment.

The key features of executive suites include:

Flexible Office Space: Executive suites offer various workspace options, including private offices, meeting rooms, and communal areas. This flexibility allows individuals and businesses to choose the environment that best suits their needs.

Amenities and Services: Executive suites can come equipped with essential office amenities, such as high-speed Wi-Fi, printing and scanning facilities, phone services, community breakrooms, and conference facilities. Furnished spaces are also sometimes available upon request. Furthermore, executive suites frequently provide concierge services, manage mail handling, and offer access to comprehensive administrative support.

Networking Opportunities: Executive suites foster a sense of community by bringing together professionals from diverse backgrounds and industries. This environment encourages networking, collaboration, and the exchange of ideas and services.

Flexible Lease Terms: Another appealing feature of executive suites is their flexible lease terms. Unlike traditional office spaces that often require long-term lease commitments, executive suites typically offer month-to-month lease options. This flexibility allows occupants to expand or contract their space requirements with ease, making it an attractive choice for businesses that value adaptability in their workspace arrangements. Whether you’re scaling up your team or downsizing temporarily, the ability to adjust your office space on short notice can significantly enhance your operational agility.

Who Can Benefit from Executive Suites?

Entrepreneurs and Startups: For entrepreneurs and startups looking to establish themselves in the business world, executive suites provide an ideal solution. These spaces offer affordable office setups and access to resources that might otherwise be out of reach. The networking opportunities also help startups connect with potential partners, clients, and investors.

Remote Workers: As remote work becomes increasingly prevalent, remote workers often seek a dedicated workspace away from home. Executive suites offer a professional environment where remote workers can focus on their tasks without the distractions of home life.

Small and Medium-Sized Enterprises (SMEs): SMEs looking to scale their operations can benefit from executive suites as they provide flexible expansion options. Businesses can easily add or reduce the number of workspaces they require, adapting to their growth trajectory.

Freelancers and Solopreneurs: Freelancers and solopreneurs often find executive suites attractive because they offer a professional setting to meet clients, collaborate with others, and maintain a work-life balance. It also gives them access to a more formal work environment than working from home.

Large Corporations: Even established corporations can benefit from executive suites. They can use these spaces for project-based teams, satellite offices, or as temporary solutions during office renovations or relocations. This flexibility allows them to optimize their real estate portfolio.

Consultants and Professionals: Consultants, coaches, lawyers, accountants, and other professionals can utilize executive suites to meet with clients and have access to well-equipped meeting rooms. This creates a professional image and enhances client interactions.

Creatives and Artists: Creative professionals such as writers, designers, and artists can find inspiration in the dynamic atmosphere of executive suites. These spaces often host events and workshops that can foster creativity and collaboration.

Temporary and Mobile Workers: Professionals who require temporary office space while traveling or working on short-term projects can benefit from executive suites. They offer a convenient and comfortable workspace in various locations.

Nonprofit Organizations: Nonprofits often have limited budgets, and executive suites can provide a cost-effective solution for their office needs. These spaces allow nonprofits to focus their resources on their mission while benefiting from professional facilities.

Work-Life Balance Seekers: Individuals who value work-life balance may prefer executive suites over long commutes to traditional offices. These spaces are often located in convenient areas, reducing commute times and improving overall well-being.

Executive suites, or co-working office spaces, have emerged as a versatile and innovative solution for professionals and businesses seeking a conducive and flexible workspace. With their wide range of amenities, cost-effective options, and networking opportunities, executive suites cater to a diverse audience. From entrepreneurs and remote workers to SMEs and large corporations, these spaces offer a modern and adaptive approach to the evolving world of work. By embracing the benefits of executive suites, individuals and organizations can unlock new levels of productivity, collaboration, and success in their professional endeavors.

If you think executive suites might be the right fit for you or your business, Kelley Commercial Partners is your go-to resource for finding the ideal solution. With a robust portfolio encompassing nearly 110,000 square feet of executive suite space under our expert management, we are confident that we can help you find the space to fit your specific needs. Call us today at 501.374.3200 or visit our website and view our office listings to learn more.

High Demand Expected for Conway’s 150,000-SF Commercial Hub

Posted on 09/11/23

Gainwell Technologies | 355 Ledgelawn Dr Conway, AR

This property is a game-changing addition to Conway’s commercial real estate landscape. This ±150,000 SF LEED-Certified Building is “some of the most compelling commercial space in central Arkansas,” and it’s already generating a lot of buzz. Read more at the link below.

Click Here

1031 Exchanges Help Defer Certain Tax Liabilities

Posted on 09/11/23

Brokerage, property management, development management, consulting

For all of your commercial real estate questions, ask a professional at Kelley Commercial Partners

A 1031 exchange, also known as a tax-deferred exchange, gets its name from the Internal Revenue Code 1031. Essentially, this rule in the tax code allows investors to defer certain tax liabilities they would otherwise incur after making a profit from a real estate investment. This can be an incredibly effective tool for investors who find themselves in a situation in which they would like to sell a real estate holding, but do not want to incur the tax burdens such a transaction would create.

In order to take advantage of the 1031 exchange rule, you must replace the property you are selling (the relinquished property) by purchasing another property (the replacement property) with one of equal or greater value and similar in kind and use. For example, if you are relinquishing a rental property for $100,000, you must replace it with another rental property with one valued at $100,000 or more. (You may also have the option to buy several rental properties, so long as the sum total of their value is $100,000 or more). So, unfortunately, you cannot relinquish a rental property and replace it with a vacation home because those two properties would not be alike in kind and use.

In addition to these restrictions, there is a set time frame in which all of these transactions must occur. Once the relinquished property has closed, investors have 45 days to identify the replacement property and 180 days to close that transaction.

Finding buyers for the properties you wish to relinquish, while at the same time attempting to identify equitable exchange properties can be challenging, especially considering the time restrictions. Proper attention must be paid to the details of how 1031 exchanges work and how using them might affect your long-term plans. This is why it is so important to find an experienced CRE professional you can trust to help you with the due diligence commercial real estate transactions require.

If you have any questions regarding a tax-deferred exchange or any other commercial real estate issue, Kelley Commercial Partners brokers and associates are here to provide the answers and support you need to make successful decisions.

Site Selection: Key Elements in Finding the Right Commercial Space

Posted on 08/24/23

Brands include Church's Chicken, Costco, Bloomin' Brands, Jersey Mikes, Dillard's, Five Below, HomeGoods, TJ Maxx, and Marshalls.

By Brooke Miller

You know the old saying: “Location. Location. Location.” In the commercial real estate game, well-designed business plans, solid funding, and meticulous execution are all necessary pieces of the puzzle, but without the right location, success can be elusive. Finding the right commercial space for your business plays a pivotal role in determining its fate. The perfect location can be the catalyst for exponential growth, while a poor choice can lead to stagnant sales and missed opportunities. When it comes to selecting the right site, making an informed decision is paramount.

The site selection process involves a thorough evaluation of numerous factors to identify the most optimal location for a particular commercial use, be it a retail store, restaurant, office building, or industrial facility. Engaging the services of a trusted commercial real estate firm that is familiar with the local market can prove to be a prudent choice, as it can streamline the process and will likely yield potential cost and time savings. To kickstart the site selection journey, the first crucial step involves defining the project’s unique requirements and clear-cut objectives. This encompasses determining the ideal property size, type, location, budget, and project timeline. Armed with this comprehensive information, a commercial real estate agent can get to work to find options that make the most sense for a client.

Factors to Consider in the Site Selection Process:

Suitability: A site’s prime suitability almost always revolves around its accessibility to customers, employees, and suppliers. A strategic location near major roads, highways, and public transportation can be crucial. Additionally, the availability of utilities to the site as well as environmental considerations can often play a vital role in evaluating suitability. And of course, understanding the site’s zoning is essential, as it determines the permissible uses in the area. If zoning adjustments are needed to align with the intended use, an experienced commercial real estate agent can help navigate municipal requirements for a smooth process.
Demographics: A comprehensive evaluation of the surrounding area’s demographic profile is also imperative to ensure it supports the intended use of the property and aligns with the needs of the community and workforce in the area.
Market Conditions: Thorough analysis of real estate market conditions helps gauge the demand for properties or businesses similar to the one under consideration. This information is vital for predicting the potential return on investment. An in-depth market analysis includes studying current trends, the availability of land or commercial spaces in the desired location, traffic counts, and property values.
Competition: The presence of similar businesses or developments in the area also should be evaluated to determine the expected level of competition and the potential for market saturation.

Once potential sites have been selected, a tour of each site usually follows to help investors determine the best possible option.

How Kelley Commercial Partners Can Help

Over the years, we’ve helped numerous major brands and businesses navigate the complexities of site selection, so if you’re looking to embark on a successful commercial venture, Kelley Commercial Partners’ team of knowledgeable agents possesses the expertise to guide you through every step of the process. We understand that “location” is the cornerstone of prosperity, and our thorough evaluation process ensures we find the most optimal site tailored to your unique business needs. With a keen eye on suitability, demographics, market conditions, and competition, we meticulously identify prime locations that can serve as catalysts for exponential growth. You can trust KCP to provide unwavering support in achieving all of your business goals.

Brooke Miller Agent | Partner

Kelley Commercial Partners has an award-winning team of real estate professionals with the experience and knowledge to ensure you maximize your potential and reach your financial goals. Let us help you create a clear plan and provide the guidance you need to confidently move forward. Contact us today or click here to explore available properties.

Tenant Estoppel Certificates

Posted on 11/08/22

Are you a tenant? A landlord thinking about selling? Or an investor looking to buy a leased property? If you have answered “yes” to any of these questions, it is important that you understand what a tenant estoppel certificate is and the benefits and protections it offers.

What is a tenant estoppel certificate?

A tenant estoppel certificate is a legally binding document signed by a tenant verifying the current status and terms of a lease and specifying any modifications to the original agreement, defaults by the landlord, or other issues relating to the lease. Typically, an estoppel certificate is requested by the landlord as part of the due diligence process before closing on the sale of a property. This statement of facts regarding the lease and the premises estops either party from making a claim that contradicts those facts post transaction.

If you lease, own, or want to purchase a tenant-occupied property, it’s important to understand how a Tenant Estoppel Certificate can protect you.

Most commercial real estate lease agreements include a provision requiring a tenant to complete an estoppel certificate within a specified amount of time after receiving the Landlord’s request. However, only a landlord wishing to sell or refinance the property would request the estoppel. If a lease does not have a provision requiring a tenant to complete an estoppel certificate, it is in the best interest of the tenant to carefully review and complete the estoppel certificate to verify all pertinent lease information.

Why sign a tenant estoppel certificate?

From the tenant’s perspective, an estoppel certificate informs and certifies to the purchaser of the property (i.e., the new landlord under the lease) and, in the event of financing, the lender of any existing issues they will need to address after closing. For lenders and purchasers, the estoppel certificate verifies information presented by the landlord regarding the tenant, the premises, and certain material terms of the lease, which helps prevent any costly surprises after closing.

As a full-service commercial real estate firm, Kelley Commercial Partners provides landlord and tenant representation. And no matter which side we represent, we are committed to successfully guiding you through the process from the beginning through closing. For all your commercial real estate needs, let us be your partner to success.