To the real estate adage “location, location, location,” Adam Stark adds “service, service, service.”
His next project is a move to Greenwich, Conn., which clients like for its “cachet, cachet, cachet.”
“Clients want that Greenwich address,” Stark said. “It will provide them with more opportunities.”
That is one of the reasons that Stark Office Suites, a White Plains-based executive leasing company, has decided to lease 15,000 square feet of office space at the Greenwich Office Park, opening this fall, for clients on a full- and part-time basis.
The company, started in 2004, opened in Stamford, Conn., at 243 Tresser Blvd. in 2011.
The Greenwich space will increase the company”™s footprint by 30 percent, according to company representatives. Stark Office Suites offers business facilities in White Plains, Harrison, Mount Kisco, Scarsdale and Manhattan. The company currently has more than 500 clients, and has experienced an average of 50 percent growth per year. Stark Office Suites subleases from building owners, preferring Class A buildings.
Adam Stark, president, said he likes to diversify his office space. His offices in Stamford overlook the major development in the city, while his Manhattan office is across the street from Grand Central Terminal. His offices in Mount Kisco, Scarsdale and Harrison have a different feel, and he is looking to replicate that in Greenwich.
“Greenwich will be a great complement to our Stamford office,” Stark said. “The Greenwich office will have a nice suburban feel. We want to meet the different needs of our clients.”
Many clients asked for office space for Greenwich, and Stark believes Greenwich will be another successful edition to the company”™s growing portfolio.
Stark Office Suites specializes in providing clients with “premier services and amenities, offering integrated service.” A client that rents space in Scarsdale can use a conference room in midtown Manhattan. Stark expects his Greenwich clientele to be mostly finance-based.
“We”™re not for everybody,” Stark said. “Our market is successfully established professional companies.”
Stark said many of his Westchester and Fairfield clients request numbers with 212 area codes, which has a certain mystique for businesses.
Before going into office leasing, Stark worked in mergers and acquisitions, but wanted a change. He began by leasing 7,200 square feet of office space in downtown White Plains and watched his business grow, further expanding in Westchester before moving to Manhattan and Fairfield County.
“I wanted to be a principal rather than an adviser,” Stark said. “I”™ve grown up in this area so I know about it. You have to believe that if you build it, they will come. A local operator has an advantage.”
Stark said the difference between his company and other leasing companies is that Stark is about catering to his clients”™ needs, not pinching pennies for cheap space.
“We offer our clients a full value proposition,” Stark said. “It”™s how we”™ve been able to grow tremendously. We don”™t try to shoehorn. Our Greenwich location is important for some people, but is not for everyone. Some people don”™t want to be in downtown Stamford.”
An area in which Stark has seen growth is virtual offices, allowing business to have services like receptionists and meeting rooms while saving on office space. Demand for virtual offices has increased 25 percent over the last few years, he said.
Stark also has expanded its offices in New York City and White Plains. Not counting its new space in Greenwich, the company expects to continue expansion by 20 percent each year. Its offices are typically 90 percent occupied.
The economic recession and the decline in office parks have not been felt much at Stark. He said companies always need space and it was important to diversify his offices with a mix of city and suburb. Stark has become the largest provider of office space in suburban New York, he said.
“We”™re always looking for new locations,” Stark said. “But we want to grow at a good rate, be measured. You don”™t want to grow too fast.”
For office leasing companies to be successful, Stark believes they need to continue to offer innovative services.
“Companies that are slow to invest in new services eventually fade out,” Stark said. “We do little things, like increasing our bandwidth sevenfold.”
A recent service Stark Office Suites rolled out involves cell phone twinning, syncing up a client”™s cell phone and work phone.
“You can speak to customers when on the beach without having to give out your cell phone number,” Stark said.
