Advantages & Disadvantages of Leasing in an Older vs. Newer Executive Suite Center
Great question!
When it comes to choosing the right executive suite for your business, one important factor to consider is whether the center is located in a newer or more established building. While many people are drawn to the sleek appeal of new construction, there are significant benefits—and potential risks—on both sides. Here’s what you need to know:
Advantages of Leasing in an Older, Established Executive Suite Center
- Proven Track Record: Longevity in the business often means the center is doing something right. Established centers typically have years of experience, a clear understanding of tenant needs, and refined processes in place.
- Hands-On Management: Older centers tend to understand that leasing executive office space isn’t just about renting a room—it’s a service business. Expect more consistent support, faster responses, and onsite management that knows how to take care of their tenants.
- Stability: Many newer executive suite businesses fail to gain traction and may shut down or sell within their first few years. Choosing a well-established center reduces the risk of displacement and disruption to your business.
- Tenant-Focused Culture: These centers often focus on long-term relationships rather than one-time sign-ups. You’re more than just a lease—you’re part of a community.
Disadvantages of Older Centers
- Aging Infrastructure: Depending on how well the center is maintained, the building, furnishings, or equipment may feel dated.
- Limited Upgrades: Some older centers may not offer the latest in tech or décor unless they’ve made a point to reinvest in regular updates.
Advantages of Leasing in a Newer Executive Suite Center
- Modern Aesthetics: Newer centers tend to feature contemporary designs, updated furnishings, and current technology that can make a strong first impression on clients.
- Advanced Technology: State-of-the-art internet, business machines, and smart systems can be a draw if your operations rely heavily on tech.
- New Energy: A fresh team may be enthusiastic and eager to impress—this can translate into strong customer service if managed properly.
Disadvantages of Newer Centers
- Lack of Experience: Just because a suite looks good on the surface doesn’t mean it’s run efficiently. New centers often lack the operational experience required to manage tenant needs smoothly.
- Business Instability: Unfortunately, many new executive suite ventures struggle to sustain operations, especially if they underestimate the hands-on nature of the business. You could risk having to relocate unexpectedly.
- Unproven Service Quality: Until the center has been tested by time and tenant feedback, there’s no guarantee the support will meet your expectations.
Final Thoughts from a Leasing Manager
When evaluating your options, don’t be swayed by appearance alone. Whether the center is old or new, do your homework—ask about management, tenant turnover, responsiveness, and onsite support. Visit in person if possible, speak with current tenants, and weigh the whole picture, not just the price or décor.
