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Corporate Downsizing Fuels New 'Home-Away-From- Home' Office Concept

PHOENIX, Jan 06, 2005 /PRNewswire via COMTEX/ -- Future Value Development Company, a division of MAS-9375, announced plans to roll-out their first of several projects featuring "Office America Suites," a cutting edge mini-suite concept designed to accommodate the millions of small business owners and telecommuters working across the nation. "Office America's" first development will be located on a 3-acre site at 32nd Street and Union Hills Road in Phoenix, providing entrepreneurs easy access to an affordable home-away-from- home office.

One, two and three room Class "A" suites will range in size from 280 up to 840 square feet, offering amenities such as individual suites with broadband IT access, central conference rooms, full service catering for meetings, reserved covered parking, lush outdoor courtyard with garden seating, and access to office equipment and furniture rentals. The development also features access to individual suites 24 hours per day, gated entry, and built-in mini-bars for coffeemakers, microwaves and compact refrigerators.

Kirsten Park, CEO of Mark Communications, a market research firm based in the Bay Area, notes how the SOHO (Small Office/Home Office) has developed into a burgeoning new market, calling for smaller office suites located in close proximity to home. "We witnessed the SOHO market almost double over the past seven years. Working from home isn't always feasible for the small business owner or telecommuter, as many grow out of their existing home office space or can't hold a meeting at their residence," adds Park.

Other trends have contributed to the growth of this market segment. According to the U.S. Census Bureau, 4.2 million home-based businesses are now operating in the U.S., a 23% increase from the number of home-based businesses in 1990. "An affordable and convenient mini-office suite concept is really where the market is heading," states Park.

Lifestyle issues have also begun to draw entrepreneurs out of their homes, citing family interruptions, barking dogs, and an inability to "leave the job" at work, as major reasons to locate new or additional office space outside the small business owners' residence.

"Office America Suites" plans to build a retail center around their first Phoenix Project, offering retail services that fit the needs of their tenants, small business owners, telecommuters, and the existing community.

"We know there is a strong demand for small suburban office space that just isn't being met right now by the commercial real estate market," notes Mike Scott, Principal of Future Value Development Company. "We're here to offer the small home based business a convenient, affordable leasing solution -- One that falls between working from home, or having to bear the expense of leasing more space than is actually needed," adds Scott. "We've also added some great amenities that make the 'Office America' environment professional yet comfortable," says Scott.

Future Value Development Company plans to build additional office-suite complexes throughout the United States. Site plans and leasing options are currently available. For more information about Office America Suites, contact Carrie at: 602.788.9375 ext. 100

SOURCE MAS Inc.