My, how things can change quickly in real estate.
2009 was as challenging and scary as 2008 was exciting. Office rents were declining. Office vacancy was increasing. Professionals and banks alike, especially those vested in commercial real estate, were worried, and justifiably so. But in this difficult and uncertain time we saw opportunity in a turnkey, full-service office business center model where businesses could avoid the long-term commitments, capital expenditures, and staffing costs inherent in traditional commercial office leases yet have a fully functional office environment in a warm, professional, and attractive setting.
We told each other that such a model – “the bed and breakfast of commercial office,” as I still refer to it today – would be highly attractive in a down economy but no less appealing in a strong one. We believed prospective clients would find the benefits of this approach as compelling as we did.
And so Access was born.