A serviced office is an office or office building that is fully equipped and managed by a facility management company, which then rents individual offices or floors to other companies. Serviced offices, which are also referred to as managed offices, business centers, executive suites or executive centers, are often found in the business districts of large cities around the world.
Companies offering serviced offices are generally able to offer more flexible rental terms, as opposed to a conventional leased office which may require furnishing, equipment, and more restrictive leases. Space is normally flexible, allowing for additional space to be allocated at short notice, should the size of an individual business change. Serviced office providers often allow tenants to share reception services, business machines and other resources, providing reduced costs and access to equipment which may otherwise be unaffordable.
Please read wiki article "Shared Office" for details
A virtual office is typically a managed telephone answering or email response service that receives and routes telephone or email messages on behalf of a small business and may provide some initial scripted response to a query. The business that uses this service typically does not have fixed office premises or employ regular reception or customer contact staff - and so the Virtual Office provides a means of receiving and passing on calls and messages when not available to deal with a customer inquiry. The prime objective of the Virtual Office is to assure that customer contact is captured and able to be followed up by whomever the call is relevant or important to.
Virtual office services for small businesses are often provided by a business center, in other words, a building offering furnished offices with several services such as receptionist services, phone services, fax services, web hosting service, and so forth.
Please read wiki article "Virtual Office" for details