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Thursday, Mar 28, 2024
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Vistage’s New Headquarters Is a Fit in Room, Rent and Amenities

Beau Paradowski

Vistage, an executive coaching firm based in San Diego, has moved its corporate headquarters from pricey El Camino Real to roomier and more economical quarters in Mira Mesa.

The move from 11452 El Camino Real to 4840 Eastgate Mall nearly doubles the amount of space Vistage is leasing in San Diego and gives the company its own building with its name emblazoned across the front.

It also saves the company a ton of money, said Beau Paradowski, Vistage president and chief financial officer.

“Our previous location could easily be described as the Rodeo Drive of San Diego from a rent perspective,” Paradowski said.

Because of nondisclosure agreements, Vistage didn’t reveal what the company was paying in rent before the move or what it pays in its new location, but Paradowski said the savings “was significant.”

“In total, we’re paying more, because we went from 36,000 square feet to 60,000 square feet,” Paradowski said. “We essentially traded rate per square foot for more space.”

The deal was arranged by Hughes Marino.

Founded in 1957 in Wisconsin, Vistage has had a steady growth, going from a workforce of 130 in San Diego five years ago to 180 in 2018.

“There’s no reason to believe we wouldn’t continue on that same kind of trajectory of 5 to 10 percent each year,” Paradowski said.

As it is, Vistage had outgrown the space it was leasing.

“We were spread out on three different floors in our previous building. People were working in pretty tight quarters,” Paradowski said.

With workers on the first, third and fourth floors before, the setup was far from ideal.

Vistage also had to lease hotel ballroom space for some of its functions — an expense that was eliminated because the company’s new spot has “mini-ballrooms, no different from what you would see if you went into some of these hotel venues and rented space,” Paradowski said.

“It’s a huge improvement from where we had been in hosting these venues,” Paradowski said.

The company coaches executives by gathering a group of CEOs from noncompeting businesses in a room to discuss issues the executives are facing. The discussions are moderated by a chairman trained by Vistage.

The company has about 22,000 members in 22 countries, according to its website.

“Many of the smaller to medium-sized businesses don’t have boards of their own and other people in their organization that they can bounce ideas off of,” Paradowski said.

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