Economic Downturn Drives New Business for Executive Suite Operators

Davie, FL (Aug. 13, 2009) – The Crexent™ Business Centers, an executive suite concept headquartered in Davie, Florida recently announced the signing of thirty-eight new clients at its properties in West Palm Beach, Bonita Springs, Davie, Jupiter, Jacksonville, Miami Lakes, Fort Lauderdale, Wellington, and Stuart. In addition, the company’s Miami Lakes and Fort Lauderdale locations are nearing full occupancy, proving that today’s tough economic times creates conditions that are ripe for the executive suite industry.

Leasing space in a business center appeals strongly to many tenants in today's uncertain economic client because such leases typically offer a range of flexibility that is much higher than that of a conventional office lease. Tenants are electing to “right-size” their office space to be more in line with market conditions, choosing smaller suites, shorter leases and more flexible terms. The economic downturn has forced many attorneys, mortgage companies, residential real estate, and financial and professional services companies to either vacate or consolidate their facilities, and executive suites have been the most practical solution.

Albert Fils, President of The Crexent, states “Crexent’s properties are unique in that we also offer “corporate suites” which is a concept between full service executive suites and traditional offices. These corporate suites, which include a limited amount of services, are very much in demand in today’s economy as they are perfect for companies that are downsizing to smaller space and don’t want to make a long-term space commitment. We are able to help clients expand, contract or make lateral moves within the same building.”

OBCs are rapidly becoming the ideal solution for professionals seeking office space, equipment, services and support in a convenient, cost effective package. According to the Office Business Center Association International (OBCAI):

1. Over 4,000 OBCs in North America
2. More than 8,000 OBCs worldwide
3. 160 million square feet of office space world wide
4. Over $10 billion per year in revenue generated by OBCs globally
5. Approximately $3 billion revenue per year in the U.S.
6. 5 to 7 percent growth annually on a global basis expected in next five years

The Crexent™ Business Centers have been in the OBC (Office Business Center) business since 1989. An alternative to traditional office leasing, The Crexent™ provides companies with turn-key office solutions. Also referred to as office outsourcing or executive suites, The Crexent™ provides professionals with access to receptionists, state-of-the-art technology and telecommunication equipment, copy/fax services and more.

The Crexent™ Business Centers offer Class “A” office space in an economical manner for small businesses, satellite offices and major corporations looking for a business address to impress. With nine prime locations throughout Florida, The Crexent™ Business Centers offer professionals office space close to where they live with the convenience of access to major highways, airports and downtown centers. Each office is fully furnished and fully serviced, providing all the support a new business, satellite office or corporate headquarters could need.

For more information regarding the range of Crexent™ Business Center programs, call (877) 886-1400 or visit www.TheCrexent.com.