Office Corporation is the name of the conglomerate that owns the building formerly housing the Club, City, and COC office spaces. That space has been leased to Ozark Health and the new medical center is anticipated to open in December.
The community benefits greatly from the welcome addition of the services provided by Ozark Health to Bay residents. The lease revenue for this building is shared by the three owner entities – Community Club, City of FFB, and the Chamber of Commerce. Each will benefit, but the Community Club has leveraged their rental revenue share by moving our offices into property already owned by the Club at the Indian Hills site.
Not only will the Club benefit by minimizing the cost burdens of our owned space, but the revenue stream from the Office Corporation lease should add approximately $50K of annual revenue to the Club’s income stream beginning in 2015. That is the equivalent of adding 90 new property owners dues revenue to our annual operational cash.
The Club has been practicing “right sizing” of all amenities for a number of years. This particular opportunity has not only added a valuable medical service to our community, but this reduction of available/owned space has added a welcome income stream to the Club. Watch for news of the Ozark Health grand opening soon!
Community Club Board of Directors