ALISO VIEJO, CA-TechSpace Holding Co. has promoted former COO Victor Memenas to CEO as James "Watty" Watson steps aside to focus his full attention on CT Realty Investors, where Watson is president and CEO. Watson co-founded TechSpace and is chairman of the board of the company, which is a provider of flexible office space.

Watson, in an announcement regarding the promotion, commented: "We're thrilled to have Vic take the helm of TechSpace and guide the company to its next stage of growth on the West Coast and in New York. His experience and proven track record as chief operating officer of the company will allow him to execute a long-term, strategic plan to expand the company and provide proper stewardship of the business for our many clients, shareholders and employees on both coasts."

Memenas said his goals will be to build on the company's established strengths and expand its partnerships. The new TechSpace CEO has held various positions with the company. During his tenure he has expanded the company's presence in Los Angeles and New York through new site development and strategic acquisition.

TechSpace maintains multiple facilities across the US, including three New York locations, as well as facilities in Orange County and Los Angeles. Its platform combines flexible workspace options with integrated technology and business services. The company describes this as an "alternative office space" formula that preserves capital and keeps overhead to a minimum, for clients, with scalable terms that allow room for upsizing or downsizing as necessary.