You may have heard the term “coworking space” but did not really know what it is, or how it differs from the more well known and traditional office space for lease. Hopefully, this article will clarify if for you. We are the Fort Worth Design District, offering traditional office space for rent in addition to coworking space. Call us at 817-439-3224 to arrange for a tour of our outstanding commercial properties.
And now, let’s look at coworking space and traditional office space for rent.
What is a traditional office space for lease?
From the beginning of commercial real estate to about ten years ago, when people spoke about an office space for lease, there was only one type they were referencing. Office space either came in stand-alone locations, or they came in huge office buildings. Business owners would lease the office space. They would bring furniture in. They would set up partitions where necessary, they would hire a receptionist, and they would pay for the utilities, the WiFi, the insurance, etc.
Signage would be ordered, received, and hung. Business cards would be ordered. Leasing agreements would be discussed, with items like repair responsibilities and duration of the lease and various liabilities all included. Fine print would be perused by real estate lawyers.
That’s just the way it was done, the way it always had been done, and there was no reason to think it wouldn’t continue that way ad infinitum.
But then the business landscape shifted, and the way we do business altered greatly.
What is coworking space?
The shift was hardly noticeable at first. A few home-based businesses appeared, and a few of them succeeded. The internet made it possible to actually conduct business from your kitchen, so fewer business owners needed to actually “go to the office” each day of the week. Words like “Zoom” began to creep into the business vernacular.
And coworking space became a thing which made good sense.
Coworking space can best be described as a temporary office. Business folks can rent an office for a month rather than a year. The rental fee includes all utilities. There is no signage to worry about, no permanent address which requires business cards, no liability insurance to carry, none of the expenses associated with the traditional offices. You simply rent an office for a month, and vacate when the month is over, as smooth a transaction as you will ever see in the business world, perfect for a home-based business owner who needs to meet clients occasionally, and doesn’t want to do it in their home, or the traveling executive in a city for a month, who doesn’t want to conduct business in a hotel room.
Which is best for you?
Which is best for you? Only you can answer that question, but if you are a small business owner, you should at least consider coworking space. It was, after all, designed with you in mind.
A word about the Fort Worth Design District
The Fort Worth Design District is a little over forty-acres of outstanding commercial and industrial space for lease in the Alliance Area of North Forth Worth. It consists of Box Office Warehouse Suites, Paddock Place Office Suites (coworking space), and the Golden Triangle Business Park. Call us for more details and to arrange for a tour of our many exceptional properties.