Committing to a long-term lease wasn’t an attractive option for Rand McNally, so the company considered alternative workspace options with Regus.
For ten years, Rand McNally – a travel tech company known for being ahead of the curve with its mobile solutions – occupied a traditional office space in Skokie (Illinois). When its lease expired, it was time to shake things up.
Rand McNally wanted to downsize the office floor space. It toyed with the idea of moving to downtown Chicago. Getting locked into another long-term lease wasn’t an option.
But what it was looking for wasn’t easy to come by in central Chicago – not with traditional office providers. “Many of the traditional leases we were looking at were long term and had minimums of anywhere between seven to ten years,” says Bob Delaney, vice president and general counsel of Rand McNally.
After checking out workspace in greater Chicago, Rand McNally came across Regus’ site at 8770 West Bryn Mawr Avenue. Close to O’Hare airport, it lies between downtown Chicago and the suburbs.
While not in the very centre of Chicago, Downtown was still within easy reach from this particular Regus Centre – closer to it than Rand McNally’s last workspace. And it offered a smarter way of working than a regular office set-up.
Above all, it offered a flexible lease. Aside from the freedom this gives small businesses, there are financial benefits to this. January saw the introduction of IFRS 16 – an international accounting standard that means lease contracts now have to be reported as liabilities. However, short-term, flexible office leases are exempt from IFRS 16 – so there’s even more incentive to opt for flexible working.
For Rand McNally, the Regus Centre ticked the right boxes and more. It offered the option to increase or decrease the amount of space the company rented: an entire floor exclusively for its 125 employees and a desirable, well-designed working environment that was also closer to home for its staff so less time was spent commuting. It was a no-brainer.
“Moving to downtown Chicago would have added substantial commute times for many of our employees, along with added expenses,” says Delaney. “We took Regus’ feedback into consideration. The Regus space offered a more modern and attractive office building, with excellent amenities.”
To prepare for Rand McNally’s arrival, Regus reconfigured the space at the Regus Centre. Walls were removed, team rooms expanded, private offices were added, and the office floor was given a more open-plan feel.
After a seamless transition, Rand McNally is settled in its new, modern workspace at Regus’ 8770 West Bryn Mawr Avenue location. Delaney says the move has been positive, with a noticeable boost in interaction between staff.
“Whenever you introduce something new, there is naturally some hesitation, particularly when you are reducing office space,” he says. “However, we have found that our employees have ample space, are productive, and have been pleasantly surprised. And we are paying less than we were in our previous building.”
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