Regus' Dallas Team Seals 22,000 SF in Deals

One of the larger deals came from Hui-Chin Kew of Singapore EDB, who signed for about 4,000 sf at the Regus MacArthur Centre in Las Colinas. Lease terms ran the gamut from three months to five years for the rash of closings.

"The number of deals Regus has closed in Dallas proves that our product and range of services are meeting the needs of today's businesses," Brian Dice, regional sales director, said in a prepared statement. Regus operates in 414 business centers with 95,420 workstations in 50 countries.

In February, Regus made the decision to outsource its 182,000 sf of office space in five Dallas-Fort Worth centers to Insignia/ESG's local team. The outsourcing move also was put into play in 10 other US cities, where the suites' provider has locked up 2.7 million sf in 72 US business centers in predominantly class A properties. In mid-April, Insignia latched onto part of the Regus pact for New Jersey and has its eyes on the balance.

The bottom line for the UK-based Regus, though, is sagging, with turnover at 7% and a revenue down $162 million, according to a May 8 GlobeSt.com article. The business center operator says it has the situation in check as a result of changes implemented in the past year, including outsourcing. The average contract length was plummeting, but leveled off to 10.8 months in the first quarter. Cash discounts in exchange for longer terms seemingly blocked the fall.