You know you need office space for lease but you have no idea how much you actually need when leasing office space.
Hopefully, the information we present in this article will help you with that major decision. We are RDS Real Estate, serving the Greater Fort Worth area with over three million square feet of affordable industrial space and commercial property for rent. Call us at 817-439-3224 for current pricing and other pertinent information.
Understanding the cost of office space for lease.
Several factors determine the cost of an office space, including location, size, amenities, lease term, market conditions, and the specific office lease type. Location is a key driver in determining market rent for office spaces, with prime locations or business districts typically commanding higher rents.
Rental prices are usually listed in terms of cost per square foot, and they can be listed either per year or per month. For example, a listing may say $2.50 per square foot per month, or it may say $30 per square foot yearly. The cost is then multiplied times the square footage of the space to determine the rental/lease cost to a client.
When we say location, we are not simply saying Los Angeles vs New York. Rental costs can differ greatly within a city. For example, the rental costs of an office space to rent in downtown Fort Worth will cost considerably more than office space in Alvarado, just south of the city.
Determining the size of your office space.
Since your total cost for an office space for lease is going to be determined by the size of the rental office, it’s important that you only rent the space you really need.
We have a cost estimator which might help you:
- Multiply the number of employees by the square footage per employee required for your desired layout and amenities.
- The average North American employee needs between 150 and 175 square feet of office space.
- Add an extra 10-20% of office square footage to account for future growth.
- Consider factors like meeting rooms, break areas, and collaboration spaces when planning.
Please note this is a rough estimate, simply presented to give you a starting point. Obviously, every situation is different.
Do you really need a full-time office?
We would like to present you with one more thing to consider: do you really need full-time office space for lease. We understand this might seem like a strange thing for a real estate brokerage firm to ask, but our goal is always to find the best option for our clients, and part-time office space rental might be that option.
We know of a place, Paddock Place Office Suites, which offer shared office space by the month, with prices starting at $550 per month, utilities and Wi-Fi included. If it should turn out that a full-time office is not needed, this, in our opinion, is the second-best option. It provides you with a professional space, when you need it, while saving your money when you don’t need an office. Check the city you are located in and find out if there is coworking space available for rent. And we have an article in our archives about coworking space if you would like more information. Simply click on the link to access that article.
A final word about RDS Real Estate.
RDS Real Estate is locally owned and operated, and our goal is to find the best solution to your needs. That may not always be the most expensive solution, by the way. We will tell you all of your options, all of the costs, and then let you make the important decision based on your situation. Call us today for a warehouse for rent, retail space for lease, shop for rent, loft for rent, any and all commercial property for lease.