Bloomfield Case Study
How our incubator model works.
Small Officer earns short term revenue, keeps expenses low and drives long term opportunity.
How We Work:
Small Officer is a unique coworking model that fills vacant 1500 - 2000 square foot offices within larger, multi-use office buildings. Our suites are much smaller than traditional coworking spaces and quickly earn “market rent” or above. Through our app spaces can be reserved by the hour or month. Small Officer generates leads and increases the building’s digital presence. Any space needs less than $100 per day (based on $20-$30 PSF) to essentially “pay rent”. By offering a variety of hourly and monthly rental options, we quickly reach that goal.
Floor Plan and Decor.
Floor plans are designed in a variety of ways but always maximize usable space and cater to a mix of clientele. Below is a standard Small Officer layout:
Hot desks
Hourly Private Offices
Monthly Private Office
Conference Room
Collaboration Room
The layouts are simple, functional and ready for the next tenant. Our model keeps improvements to a minimum and only requires the essentials such as furniture and WiFi. Small Officer decor is simple, clean and bright making art or expensive fixtures unnecessary.
Revenue:
When Small Officer hits the market, we advertise on Google Adwords, Instagram and Linkedin. At our Bloomfield location, within four months, we signed our first monthly tenant. After adding in hourly income, base market rent was met. Within a year, revenue was twice the rent. Currently, revenue is three times the rent and requests for long term offices ( 6- 12 months) are frequent.
Expenses:
Small Officer’s overhead is very low because our locations are not staffed and our app remotely manages access, WiFi, HVAC and bookings. Revenue is steady and upkeep is simple.
Small Officer is rented approximately 400 hours per month with the average booking being less than three hours. We have two full-time tenants and are open 365 days per year, 7am-9pm. Small Officer oversees all customer service. Most importantly, Small Officer is adaptable and can be quickly turned into one suite, moved or subdivided.
We are a flexible platform that drives long term occupancy.
Our services.
A complete platform with the infrastructure to deliver flexible workspace experiences.
Space Management
Manage small office spaces proactively.
Tenant Improvements
Leverage design and quick build out models. We cover upgrades of the surface space and help utilize square feet.
Flexible Operations
Streamline with full remote, onsite and tenant management.
Marketing
Proven solutions to fill a space, handling Search and Social paid spends and marketing materials/signage design.
License Agreements
Drop the lease. Simple terms cover flexible workspace transactions.
Why partner with us.
Book. Go. Work.
About us: As a family owned and managed commercial real estate company, we take pride in and understand the importance of listening. We are both landlords and tenants. We are experienced in meticulous property maintenance, have extensive knowledge in property upgrades and offer unparalleled customer service. For the past 40 years, we have acquired and managed a diverse portfolio in the NY and NJ area:
Small Officer: Six flexible suites located across New Jersey and growing.
3rd Space: A large traditional coworking facillity in the heart of Newark. Open and managing for 5 years
Silvertree Real Estate: traditional 200K sq foot office space, owner and manager for 30 years.
Milk Barn: A historic venue in the heart of Hell’s kitchen.
St. Charles: 17 acres of industrial land for lease in Newark.
