If you have questions about the difference between the traditional office for rent and coworking space, this article is for you. We are the Fort Worth Design District, leading the way in Fort Worth is outstanding commercial and industrial space for lease, so call us at 817-439-3224 for more information about both an office space for lease and a coworking space.
The traditional office space for lease
The traditional office space for rent has been around since the Industrial Revolution in the United States. A business owner needs a professional office from which they can conduct their business. They pay the commercial property owner a yearly lease fee for the office. The cost of that payment is usually based on a per-square-foot basis, and that price is determined by the “going rate” in that particular city. Thus, the larger the office, the heftier the yearly lease costs.
In addition to the lease price, the renter also pays for utilities, the cost of furniture, signage, insurance, and other incidental costs. It is not unreasonable nor is it an exaggeration to say that a traditional office for rent will cost $2000-$4000 per month when all of the costs are added up. Of course, that cost will differ from city to city, and oftentimes even from district to district, but for this discussion, let’s use those figures for comparison.
What is coworking space
Coworking space is a shared space, usually a large, common area where several desks are located, or a large room which is portioned off to create several small office spaces. Someone in need of office space simply rents a small coworking space by the month. It is purely a temporary rental, a “rent as needed” situation, and requires no long-range commitment. Those who rent coworking space share a break room and oftentimes share a conference room if needed.
The major differences you need to be aware of
The major difference between the two is one of permanence which of course affects cost. Coworking space can be had for under $500 per month with no long-range commitment. Usually, utilities and WiFi are included in that cost, as well as furniture provided. The business person shows up with a laptop and briefcase, rents for a month, and then leaves. Period, end of transaction, nice and neat.
Is coworking for you? Is it a viable option? We can tell you this: coworking space is incredibly popular in the United States among small business owner, home-based business owners, and traveling executives, and there is no foreseeable reason for that to change in the future. Saving money is always attractive, and not having any long-term commitments is also a very attractive feature.
To put it simply, the traditional office space is on a downward trend, while coworking space is on an upward trend. If you are a small business owner with a limited operating budget, and you don’t need an office daily, coworking space may be the solution you’ve been looking for.
A word about the Fort Worth Design District and Coworking Space
The Fort Worth Design District is a forty-acre business enclave comprised of Box Office Warehouse Suites, Paddock Place Office Suites (coworking spaces), and the Golden Triangle Business Park. Call us and arrange for a tour of The District. We are confident we have what you need in commercial and industrial property for lease.