Yeager Properties had its grand opening of the next generation of its office suites concept building on October 20. The property, Yeager Office Suites of Plano, is located at 8105 Rasor Boulevard, Plano, Texas. ValueXpress arranged the financing for the existing Yeager office suite portfolio and expects to arrange the permanent financing through the same CMBS lender in spring 2017 for this newly completed project, which was 40% preleased at opening.
The latest generation of the Yeager Office Suites concept expands on the core elements of the Yeager philosophy — to bring individuals and small businesses together in a creative environment. The common areas of each Yeager property are uniquely designed with fun, cheerful and calming interior elements that are unlike any existing office environment and the whole is dramatically different than the typical sterile corporate office building
The latest generation expands on the Y-member concept. Y-members are individuals and small corporations that gain access to a shared workspace, high speed internet with printing/copying capabilities, conference room and kitchen access on an as-needed basis for a very low monthly membership fee (currently $200/month). “A great example of this concept in practice is a residential real estate broker that rents two office suites, but also has two Y-memberships for agents that come and go, saving the broker $1,000/month in suite fees,” explained Scott Yeager, the owner of Yeager Properties.
Furthermore, the next generation of Yeager Office Suites incorporates more common area and in particular, outdoor common space. The outdoor common space is being coupled with restaurant/food service tenants to provide onsite food amenities for tenants as well as an opportunity to use the common areas for functions.