Quadrant Investment Properties and Stream Realty Partners announced the launch of its flex office strategy, which will provide fully furnished and internet-enabled office suites on a short-term basis. The program is being piloted at the boutique St. Paul Place, located in the Dallas Arts District.
“Since the COVID lockdown last March, we have seen increasing demand for flexible leases outside of coworking space,” said Chad Cook, founder of Quadrant Investments. “These tenants are looking for move-in ready office space on a shorter-term basis while still desiring their own controlled office environment. We are not changing the traditional real estate leasing model, but rather enhancing it by providing another option for prospective tenants.”
The flexible leasing strategy enables short-term leases of six to 12 months of fully furnished modern office that includes internet, private conference room and kitchenette and tenants have full access to building amenities including outdoor lounge, community space, coffee, additional conferencing options and on-site food services. Stream Realty, a partner in the building, will continue to lead the leasing strategy at St. Paul Place.
“We are excited to get this program into the market as the boutique nature of St. Paul Place provides a unique opportunity to address the demand for shorter term lease options while still providing a class A experience,” said Rhett Miller, vice president of Stream’s Dallas office.
The program was developed in part to cater to companies that are uncertain about their long-term office needs or behind in their office search due to the current environment. The suites available at St. Paul Place range in size from 2,500 to 14,000 square feet with many offering elevator lobby exposure. The marketing of the flex program is being managed through the St. Paul Place website where prospective tenants can view spaces, book tours and find transparent pricing to allow for easy decision-making.
“This is the next step in our strategy of making flexibility a central operating principal for every building we own,” said Cook. “Over the last year we have re-tooled our technology operations to make it easier for us to onboard, service, and support our customers in a timely manner. That operational foundation gives us the freedom to focus on this business strategy without worrying about the operational complexities.”