Many companies are left with large buildings and board rooms that have been vacated due to the global shift towards remote work. Although it may seem like the end for commercial real estate it really just is the start of an evolution of those spaces and they can definitely still be put to good use.
In Mid-August 2020, Amazon announced they are expanding their Tech Hubs in six different cities, Dallas, Detroit, Denver, New York, Phoenix, and San Diego, which will be more than a $1.4 billion investment. This is a rather dynamic move for Amazon to make especially during a time when commercial real estate is not being sought out for, yet this is a hopeful indicator for the future of the commercial real estate.
As the company with the largest market value in the world, Amazon knows it is all about adaptability.
Why flex space will flourish?
As people continue to work from home, and it seems like they do not want to fully return to the office, commercial real estate needs to analyze the user climate that we are in and adapt their design and layout to those preferences by developing flex space and more multiuse space.
That doesn’t necessarily mean we have to start over from scratch and renovate entire buildings but we can first look at what we currently have to offer and see how we can adapt our spaces and amenities for more on-demand service.
One form of flex space that can be appreciated during this time, especially for new businesses, is furnished office space for rent. Furnished offices can gradually help cut down costs of a rental space not only with flexible terms, versus the traditional long-term lease agreements, but also by saving on the cost of furniture.
Benefits of renting flex furnished space:
1. Saves time and money
The way furnished office space for rent works is that the rent price already includes the furniture costs, so you will not have to worry about additional expenses, especially during this uncertain time, like you would if you were to buy or rent out your office furniture. Finding a fully furnished office can cut back on your expenses since you won’t be needing to go furniture shopping for desks, bookshelves, chairs, tables, etc, which can generally range between $1000-$4000, depending on your preference and the amount of furniture needed. Getting a fully furnished office also helps avoid the cost of hiring movers to move in the furniture.
2. Good for temporary/short-term office needs
During this time there is a lot of hesitation to rent out a workspace with the fear that there will be another mandatory shutdown of businesses. That is why commercial real estate companies need to rethink their services and move towards offering short term office space. For many, it does not make sense to invest and spend on office furniture especially if they are looking to move out soon into a different office space. A fully furnished small private office space for rent is a great option for people who need a temporary office space during their company expansion or transition into another executive office place, or if they just need a space outside of their home to work.
3. Can be used as Meeting rooms
Fully furnished offices are also a good alternative to Meeting/Conference rooms.
This is the type of transition we should anticipate and strive for in the commercial real estate industry. Since the majority of workers have already conformed to continue working from home there may be less demand for office space for rent. Instead of losing the revenue of traditional office space, established office venues/commercial buildings will need to become physically adjustable for clients to be able to come in and use as needed, due to businesses steering away from long-term office leases. We can turn our large office spaces into designated Zoom meeting rooms, and collaborations hubs just like Amazon is doing.
With a fully furnished Carlsbad office space for lease, you are guaranteed a professional work environment to have a team meeting, host clients comfortably, and give off the right impression.
4. Ensures a professional image for your business
For new start-up businesses, it may be even more concerning now about how they are going to establish their brand image. With the majority of the workforce working remotely, it may come to question about how these new businesses are going to start-up.
With furnished private office space for rent, the stress of obtaining a presentable office will no longer be an issue, since they come pre-arranged and professionally decorated by the executive suite rental agency to create a credible brand image for any business. These professional spaces use interior designers to ensure your space will be slick, modern and up to date with a lot of contemporary touches. Although, you will not be able to be as selective in your office decor since the furniture has already been pre-selected, in the end you are saving on the cost of buying new furniture, hiring an interior designer to decorate your space, and your time arranging your executive office suite.
5. Quick and easy way to start-up your business
One of the best parts of getting a furnished executive office space for rent is that you can instantly begin your work as soon as you get it. Renting a fully furnished office means you do not have to spend time finding/moving in your office furniture or waiting on deliveries, so you can easily settle in and begin working the day you get it. The easy and quick move into furnished offices is particularly beneficial during this time as people and businesses have no time to spare for their work, so a ready to use furnished office space makes these new adjustments less stressful. With the no hassle or time consumption of having to transport and move things in, it is the most ideal option for businesses looking to quickly startup.
The forthcoming of workspace
Part of the current business world is now focused on how to leverage and adapt the workspace.
With remote work, people are adapting to the distribution of teamwork via virtual services, which is why we can expect to see commercial offices become collaboration venues, space sharing, or event-hire venues to certify their value in this new business world. As we can see commercial office space is not going anywhere but will be going through some rapid changes in the upcoming years. For commercial real estate companies that means revamping and adapting to the current state of our business functions which will transform the traditional office space into multiuse, amenity abundant spaces. At Prime Executive Offices, we have reconfigured our spaces to enhance our clients’ meeting and workplace experiences by providing on-demand, fully furnished affordable office space right at the center of the Carlsbad Business District.