Executive suites project bouncing back
July 12, 2010
Vineyard Executives Suites, a 4,000-square-foot, 11-office complex in Sparks, has nearly recovered to a level last seen before the start of the national financial panic.
Rosemary Loven, one of the developers of the project, says current lease negotiations would bring Vineyard Executives Suites close to full capacity. That’s a mark the three- year-old project hasn’t seen since late 2008.
Loven says executive suites small offices with shared reception and conference services faced competition from home offices as one-person companies looked to save money during the recession. And a fair number of small companies, she says, no longer needed executive suite space when they closed their doors.
Vineyard Executives Suites looked to buck the trend through consistent marketing that includes calls to newly licensed businesses that might be looking for space. Also, Loven says the project has benefited from its location at 4894 Sparks Blvd. in Spanish Springs, where executive suites space is rare.
Loven and her husband, Frank, joined with Larry and Kristi Manchester of Sparks to develop the project through L&M Funds LLC.
But they’re more than investors. While Loven provides day-to-day management, her husband and the Manchesters help control costs by handling the building’s cleaning service themselves.