Company Information

Business Strategy

Our business strategy is to remain a leader in the office suite industry by providing full-service office suites and related support services through the implementation of our growth and operating strategies. Our growth strategy includes developing new office suites to standard plans and specifications and capitalizing on management’s national roll-out experience. Our operating strategy includes offering a full complement of support services to meet client needs, while always providing consistent, high quality facilities and services.

Facilities

We provide high-quality facilities and consistent support services in each of our office suites. We achieve this objective by constructing our office suites pursuant to standard plans and specifications that contain well-appointed reception areas, conference rooms and offices, appealing furnishings and high-quality computer network and telecommunications equipment.

Office Suite Industry

Based on industry research, we believe the office suite industry is highly fragmented and is dominated by independent operators, a high percentage of which own only one location. The Office Business Center Association International ("OBCAI"), a leading industry association, estimates that there are approximately 4,000 facilities in North America (and 8,000 worldwide).

We believe that demand for office suites in recent years has evolved as a result of several broad-based changes in corporate and individual work practices, including: (i) advances in technology and communications; (ii) corporate downsizing and increased outsourcing; (iii) an on-going focus on cost reduction and improving efficiency; and (iv) increased levels of entrepreneurial activity resulting in a greater number of self-employed professionals and start-up companies.

The use of office suites offers corporations the ability to establish a presence in new geographical regions on a more cost effective basis than leasing traditional long-term office space and setting up in-house business support services. As a result, many corporations have capitalized on the flexibility and economic efficiency provided by office suites to implement their business plans more effectively. Specifically, the use of office suites enables corporations to: (i) reduce major capital expenditures such as equipment and furniture purchases; (ii) reduce administrative and personnel costs associated with hiring and maintaining a support staff; (iii) increase profitability by eliminating the need to utilize limited resources on administrative and support matters; and (iv) increase responsiveness to changing market conditions through ease of expansion or contraction and on-demand administrative support, all without the long-term commitment required under traditional office leases. Office suites also provide professionals who are self-employed or part of a start-up company a viable alternative to home offices, which typically lack business support services and a professional, corporate atmosphere.