Design Space and M Space, Inc. have reached an agreement for Design Space to purchase all of M Space’s mobile offices and modular building assets in the States of Arizona, Nevada, and Utah. M Space was in Chapter 11 bankruptcy, so the purchase required approval from the major creditors and bankruptcy court for M Space. This approval was granted November 9, 2016.
Effective that date, Design Space assumed all M Space modular building assets and leases in the referenced States. M Space operated nationally with a business model that spread them wide, and ultimately could not withstand the pressures of the recession and oil industry downturn. Design Space has a very different model where we concentrate our assets and staff to serve and control market share in specific geographic markets.
Design Space will absorb the M Space assets and leases into its closest branches and begin serving the existing lease clients immediately. These customers will benefit from Design Space’s close customer support for their current leases and have access to a large fleet of modular buildings, office trailers and storage units for any markets in which they may have a future need throughout the western US. These products can be used to satisfy immediate and temporary space requirements or Design Space can meet long-term needs with permanent modular construction.