The market outlook for office space for lease, post-COVID, is good, at least in the short term. Long-term is a whole different story.
Allow us to explain our thinking on this. We are the Fort Worth Design District, a forty-acre enclave of three business parks, located in the Alliance Area of North Fort Worth. Call us at 817-439-3224 the next time you are in the market for an office space for rent, or any other commercial or industrial space for lease.
Now, let’s talk about office space for lease in 2022 and beyond.
Short-term for small businesses in need is good
Get ready for a bold statement: Never before in history has the outlook for small businesses looked so bright. Opportunities about for the one-person business working on a small budget. Businesses with ten or fewer employees, and a killer product, are going to flourish in the 2022 economy. We have no statistics to back-up that claim, but our gut, based on years in the commercial real estate business, tells us this is so.
In any city the size of Fort Worth, there are literally hundreds of office for rent opportunities, and not only are they available but they are available at a discounted price and a negotiable lease agreement. And for those who still can’t afford a long-term commitment for an office space, there is coworking space available in most cities, allowing the small business owner to rent office space by the month at a discounted price.
Short-term for large businesses is stagnant
If you were alive in 2021, and at all interested in business and the economy, surely you heard about the mass movement towards remote working. Employees who once drove to the office daily are now doing the same job for home. Large businesses have found that they no longer need large office buildings and it is, in fact, economical for them to allow remote working, at least while the economy works everything out post-COVID. Need proof? Take a drive through the business district of any large city, and count the “for rent” signs you see on offices.
Long-term for small businesses is not nearly as good
For small businesses debating whether to rent or not rent in 2022, be forewarned: the commercial prices of an office for rent, or an office warehouse for rent, will rise as the economy bounces back. Now is the time to rent; 2023, in our opinion, will be too late to take advantage of the low prices and favorable leases.
Long-term for large businesses improves for office space for lease
We do not believe the large office buildings will disappear. We believe, as the new economy unfolds, there will be new, creative uses for those office buildings. If you are a large corporation, wondering whether to stay in your current large office building, our recommendation would be yes, at least through 2022. And if you own a large business, and you decide upon a creative way for your business to adjust to the “new reality,” we say get out there and rent now.
A word about Fort Worth Design District
Do we have any proof that these predictions will come true? No, but we have a vested interest in knowing the market; our livelihood depends upon it. So this is not some random prediction meant to fill in an article for a deadline. Give is all serious consideration, and then call us and let’s talk some more about an office space for rent in the Fort Worth Design District.