ZZZ - GMG - VEGAS INC 2011-2014

March 4, 2013

VEGAS INC Magazine - Latest Las Vegas business news, features and commentaries about gaming, tourism, real estate and more

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Page 39 of 47

VEGAS INC C OV E R STO RY Executive suites: ���A smarter, more efficient way of doing business��� EXECUTIVE SUITES, From page 1 ���I was constantly asking vendors if I could sit down in their office and plug in my laptop,��� Rolley said. ���This takes care of all that.��� Executive suites are short-term office sublets housed in larger office buildings. People can rent small cubicles or furnished corner offices for as much or as little time as they need. Common areas, such as conference and copy rooms, are shared, and services, such as billing and administration, can be ordered as needed. Rolley rents space from Regus, which runs executive suites around the world, including seven locations in the valley. Access to the offices costs between $19 and $49 a month; no lease is required. ���This is an alternative to working from home,��� said Leo Agustin, general manager of the Regus office at Tivoli Village. ���We can give them a more professional image for their business.��� More than half a dozen companies advertise executive office rentals and virtual offices in the Las Vegas Valley. Virtual offices give people who work from home a business address, telephone answering and mail routing service. ViewPointe Executive Suites is among the oldest local companies in the industry, having been in business since 1998. It���s located in a 75-unit building on Eastern Avenue near the 215 Beltway. Despite the longevity of the company, manager Chris Johnson said the idea of executive suites is new to many people. ���Not a lot of people are educated about 16 20130304_VI01_F.indd 16 FLEXible SPACE: An office is shown at the Regus executive suites at Tivoli Village near Summerlin. it, but it���s a really neat concept,��� Johnson said. ���People get a big building with a Fortune 500 image, but you don���t have to pay for your own conference room or maintain your own restrooms.��� There���s no need to sign a lengthy lease, and operators provide furniture, Internet, printing services, cleaning ��� even coffee. Executive tenants can reserve conference rooms by the hour or day. ���It���s a smarter, more efficient way of doing business,��� said Tom Buntic, who owns Sandhill Executive Suites and Eastern Executive Suites. ���You literally go, plug in a computer, and you���re in business.��� The Regus office at Tivoli Village, steve marcus where Rolley and almost 60 other executives work, has a desk with two receptionists in a contemporary lobby. Off to one side is a kitchen with coffee, tea and snacks. An industrial printer sits in the corner. But here, there���s no sign listing tenants��� names. That���s by design. It could be anyone���s office. ���At the end of the day, we���re just a management company,��� said Michael Hatcher, general manager of a Regus office on Howard Hughes Parkway. ���We like to say that this is their office. It���s not our office. We just manage it for them.��� Executive suites also provide a legal address for businesses. ���The state may require them to register with an address in a commercially zoned location,��� Agustin said. ���We can give them that. People might not want to give out their home address.��� Even though business owners have to pay a monthly fee for access to the suites, many say the offices help them save money. When David Wedemeyer and William O���Grady started a law firm last year, they priced out what it would cost to set up an office. The real estate attorneys quickly discovered the expense was great. They would have to sign a long-term lease, furnish the space, set up phones, get utilities and hire administrative staff. Then, they looked at the Regus offices. ���It���s more expensive per square foot, but they take care of a lot of things that will save us money over the long term,��� Wedemeyer said. ���You don���t have employees, so you���re not paying ADP (payroll services) and worker���s comp. The administrative staff works for Regus, so they pay all that. For us, it���s all about keeping the overhead low and passing that savings along to our clients.��� Executive suites typically charge a flat fee for office space. Regis, for example, charges $19 a month for access to a small desk and laptop plug-in at any of its valley locations. For $49, customers can use any of the company���s offices worldwide. Extras cost more. Executives who need an actual office can rent one for between $450 and $900 | 4 MARCH 2013 | 2/28/13 2:29:20 PM

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