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Oxford Companies is thrilled to announce that the popular Oxford Instant Office program has a new feature – the option to take advantage of rent abatement for an Ann Arbor office space in exchange for future equity in the leasing business. The program is called OXIO SAFE, which stands for Oxford Instant Office Simple Agreement for Future Equity.
The OXIO SAFE program provides remarkable value to promising Ann Arbor companies in their early stages, and Oxford is delighted to contribute to the vitality of Washtenaw County’s thriving business community. With all of the incredible innovation happening in our area, Oxford knows that Ann Arbor startups have tremendous potential to influence technology advancements all over the world. We’re excited to be a part of their success in this way!
The most expansive program of its kind in the region, OXIO SAFE will have Ann Arbor office space location options throughout the region, and provide a pathway for startups to lease office space without the significant financial risk that comes with entering into a typical commercial real estate leasing process. Qualified startup businesses can receive up to a year’s worth of rent, in exchange for a simple agreement for equity to be realized in the future.
“Ann Arbor has earned a reputation as a vibrant tech hub, and Oxford recognizes the immense impact that new businesses have in our community,” said Jeff Hauptman, Oxford’s CEO. “We’re proud to provide additional options for innovators and entrepreneurs that continue to rely on Ann Arbor office space to facilitate development and team building.”
Oxford Companies’ Director of Asset Management, Wonwoo Lee, will be running the OXIO SAFE program and agrees. “The new OXIO SAFE program will deepen our organization’s commitment to furthering economic growth in the Ann Arbor area. We want startups to know that Oxford is here to support them and get them into their perfect office space.”
OXIO SAFE is open to startup companies that are currently working with one of the incubator and economic development organizations in the area, such as Ann Arbor SPARK, U-M Innovation Partnerships, Desai Accelerator, TechArb, etc. Leases are available for 6-12 months terms for move-in ready office suites in various geographic areas throughout Ann Arbor. Oxford’s original, and very successful Instant Office program provides the basis for the new OXIO SAFE initiative, with inclusions in the lease such as janitorial fees, utilities, wi-fi accessibility, and in some cases furniture. The entire package rounds out to be an incredible opportunity for Ann Arbor startup companies, especially in the field of technology, that generate so much excitement and economic activity in the community.
“Growing startups need flexibility and a range of options to fit not only their budget, but also the size of their operations, both of which have the potential to change quickly,” said Paul Krutko, president and CEO of Ann Arbor SPARK. “One of the ways we continue to attract and keep entrepreneurial endeavors in Ann Arbor is by having a strong ecosystem that delivers those options, including commercial real estate. The team at Oxford recognizes the importance of these emerging businesses and this new program is a great way to meet them where they are now to support their future potential.”