What is Flex Space? Flex space is a commercial real estate space with a warehouse, retail space, or build-to-spec office space. It can have shorter lease requirements than traditional office spaces and, in some cases, have all the furnishings you need. This article looks at 5 reasons to consider flex space for your business.
Real Estate has changed drastically over recent years. As people embrace more creative ways to use commercial space for their business, it’s no surprise they are looking at flex space. Flex space allows them to accomplish more efficiency, save money on square footage, and give the business owner more flexibility to survive business in the 21st century.
How is Flex space different from other Real Estate Options?
The broad categories for commercial space include traditional office space and flex space, but what are the differences?
- Length Of the Agreement Terms. If you want flexibility, a traditional lease may not be for you. Traditional office spaces have lease terms for about 7-10 years. With flex space, you can have as little as 7 months up to about 3 years. This shorter term gives you choices to remain where you are or grow into another space. Either way talking with your commercial agent to find the best fit for your business will serve you well.
- Shared Spaces and Co-Working. As most traditional spaces are leased to only one company, a flex space allows two or more companies to use the area, especially when the internet is involved. This setup may be a great fit for your business if you’re a company that can use co-working for its day-to-day operations.
- Sharing Amenities. Coffee, lounges, and WiFi are some great amenities that traditional spaces do not offer. Sharing amenities with flex space fosters a sense of community and allows companies to intermingle in a common area.
- Lower Start-up Capital. Setting up traditional office space has a lot of up-front investment. Building out the area, ordering furniture, electronic equipment, wiring, etc. Typically, flex space offers all the design, furniture, and office devices.
- Multifunctional Flex Space. Flex spaces are usually designed in such a way that they can perform many different functions. It can serve as an office, or lounge area for owners to work from, research center, classroom, warehouse, or conference area, all with little to no modification.
If you’re interested in exploring flex space for your business, contact 1st Global Realty online or email us (1stglobalrealty@newtoatlanta.com) or call 404-301-3799 today! Our fees are free for our clients.
We focus on finding our clients the very best space to meet their needs. It can be traditional or Flex Space. Whatever it is, your needs come before the landlord’s needs. 1st Global Realty will help identify the best spaces, review the documents, and be with you thru the whole process, including lease review and renewal.
