Office Evolution Expands in Houston with First Landlord Deal
Asset owner partners with rapidly growing coworking provider; introduces flex space into the property
CYPRESS, Texas, June 1, 2021 // PRNewswire // - Office Evolution, the largest provider of locally owned and operated coworking locations in the United States, is expanding in the Greater Houston area with its first existing landlord deal. The deal marks the first time since Office Evolution opened its doors in 2003, an existing asset owner becomes a franchisee and has chosen a franchise model to enhance the asset and incorporate flex into their building. Located at 14150 Huffmeister Road in Cypress, Texas, the new owners will be Putul and Samir Banerjie.
"As a commercial real estate owner, we see tremendous value in incorporating an Office Evolution flexible workspace model to our asset," said Banerjie. "It provides a great balance to the tenant profile, and as the building owner, I can customize the agreement terms and provide value-add amenities to my traditional tenants. The franchise model made the most sense to me, as I can draw upon a proven methodology and brand to open and ramp quickly."
For the past ten years, Putul and Samir have been focusing on real estate ventures, including the development of a multi-building project that will be the new home of Office Evolution. She saw the franchise and believed in it so much she wanted to be a part of it. Putul was working on her Master's in Indian classical music when she came to the US. She had experience in the IT industry before deciding to focus on her growing family. She loves serving her community in Cypress, where she has lived for more than 20 years.
Owning the building and running the Office Evolution franchise is an exciting opportunity and points to a larger trend as landlords look at creative solutions for existing office space. Putul intends to find a great Business Center Manager and leverage Office Evolution's expertise in order to deliver the best possible customer experience at her business center in Cypress. Putul and Samir recognizes that flex office space is a strategic tool to add value to her asset. Office Evolution Franchisees Mark Gottlieb and Jackie Blyth based in the Atlanta area have also become landlords in the same building where they operate the Office Evolution franchise.
"This deal is a smart move for Putul and Samir, their existing tenants and future Office Evolution members," said Mark Hemmeter, Office Evolution's Founder and CEO. "We couldn't be more excited to welcome Putul and Samir to our franchise system. We look forward to working with asset owners who want to add value to their properties by adding in flex space and desirable amenities their tenants can take advantage of."
Office Evolution's steady growth is fueled by the increased demand for flexible, close-to-home coworking office space. Throughout the pandemic, businesses of all sizes have turned toward flexible workspace close-to-home as a solution to the traditional office setting, especially as they seek to avoid being entangled in expensive leases for traditional office space. As employers realize that remote working is resulting in more productive employees, businesses are tapping in to coworking spaces to provide employees with a safe and collaborative environment that is closer to home.
Since the start of the pandemic, Office Evolution has been open, providing members with a clean and safe environment to get work done and drive their businesses forward. Office Evolution's commitment to business continuity for its members has helped forge a strong sense of loyalty from its members.
SOURCE Office Evolution
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