The “office space to rent” signs are increasing in the business districts of major cities across this great county. There is no doubt about it, COVID changed the business landscape, but truthfully, that landscape was changing before the pandemic arrived, and as we transition to post-COVID, that landscape will continue to change. The business world of our ancestors has shifted, and the old business models no longer fit in that brave, new world.
In other words, you have options when it comes to office space for lease, and in this article we will talk about a few of those options. We are RDS Real Estate, serving the Greater Fort Worth area with outstanding industrial and commercial property for rent. Call us at 817-439-3224 for more information.
Now, let’s talk about the changing landscape with regards to office space for rent.
Say goodbye to the past office space to rent
Leasing office space, in the past, was an expensive undertaking. Office space in a desired area, with good traffic numbers, required a monthly lease priced in the thousands, and you had to lock in on a yearly-lease. Add to that the cost of utilities, the cost of signage, the cost of furnishings, and it is not an exaggeration that a start-up office rental could run $10,000, or more, before the doors ever opened for business.
Yes, there are still businesses around which can afford those kinds of start-up costs, but they are decreasing in number. What we now see are more and more small businesses, one-person businesses, or home-based businesses not really in need of full-time office space, or incapable of affording full-time office space. What we are seeing is a need for alternatives from traditional office rentals, and one such alternative is called coworking space.
What is coworking space?
With coworking space, you only rent an office suite month-to-month, short-term, when you need it. You share an office area with other business owners looking for an inexpensive solution. The offices are already furnished. The utilities are included in the rental fee. There is absolutely no long-term commitment, making it a perfect solution for a business world in transition. At our own Paddock Place Office Suites, in the Fort Worth Design District, we have coworking space renting for $500 per month, and it is a very popular option for many Fort Worth small businesses.
Share office space to rent and rejoice
Another office space alternative we are seeing is several small companies sharing an office area, with a common receptionist and a common waiting room. Monthly expenses can be shared in that way, making it an affordable option for many businesses, especially those which are in some way related, like insurance companies and title companies.
And then we are seeing alternative design solutions
Picture a traditional office space, and then scrub that vision from your mind. Traditional brick-and-mortar construction is expensive. Non-traditional is not. An example in Fort Worth: Box Office Warehouse Suites, a business park made from refurbished shipping containers. Office space there runs for less than $1000 per month for a 320-square foot office space, making it an outstanding alternative for creative business owners looking for something different and non-traditional in commercial space for lease.
The final word about office space to rent option
Do some research. There are options out there if you look hard enough. Developers are aware of this shift in thinking, and they are building with that shift in mind. Yes, it is a brave new world, but it is a world you should embrace.