Cleverest Commercial Real Estate Scheme

701 Executive Suites’ Try-Before-You-Lease
Cleverest Commercial Real Estate Scheme

Commercial real estate is pretty much in the doldrums, and probably will stay that way for a little while longer. So what can a building manager do?

The 701 Executive Suites building, located at 701 4th Avenue South, is a bit easy to overlook, given its distance from the canyons of Marquette Avenue and Second Avenue South. It’s also not very tall. But your humble scribe is fond of it—its octagonal shape and its 1980s blue and salmon panels somehow make him think of John Hughes movies and Human League music (not a bad thing—really).

Melody Hach, president of 701 Executive Suites, has implemented a new “try before you buy” program that allows businesses to set up shop in the Class-A high-rise without signing a long-term lease. (It’s a month-to-month deal.) Besides hosting several law firms, the building is the local home of the University of Phoenix.