Houston office sharing11/29/2023 From the friendly administrative staff to the on-site cafe, this is an ideal professional home for your team. This workspace, located in the heart of Houston’s central business district, offers a comprehensive suite of amenities and services. How much will it cost to book a coworking space in Houston? Regus Co-working and Private Offices 1. This means that more businesses may be interested in investing in flexible office spaces, which can be installed in buildings such as recently vacant hotels and malls. This upward trend in rent costs shows no signs of abating. According to CBRE, 65% of companies in the Americas expect to use coworking as part of their office portfolio by 2020.ĬBRE believes the city’s flexible workspace market is growing due to companies looking for more malleable lease options for their employees who are still navigating a combined in-office and from-home work schedule. Trends in the Houston market and other markets show growth across the board in every submarket, creating more coworking space, shared workspace, and other office types conducive to today’s workforce’s flexibility demands. What fuels the growth of coworking in Houston? Furthermore, depending on the space chosen, a flexible office can allow the company to change its real estate footprint at any time, and each employee can access community, services, and amenities. Flexible office leasing costs almost half of the cost of traditional leasing. In Houston, the average price for a flexible office is $165 per person per month, with an annual cost of $1,981 per worker. These two spaces have already significantly increased the supply of dedicated flexible office space in the Houston market. One company has opened an 86,000-square-foot office building, and another TechSpace has just opened a 46,000-square-foot facility. This amounted to 153,000 square feet, bringing the total supply in the city to 3.1 million square feet. Flexible offices are frequently furnished, serviced workspaces sourced from coworking spaces, serviced offices, and direct from buildings.Īccording to a new CBRE report, the net supply of flexible office space in Houston increased by 5.3 percent between the fourth quarter of 2020 and the third quarter of 2021. Businesses use flexible office space to enter new markets, establish satellite offices, and provide employees with mobility options. The flexible office sector is expanding rapidly in Houston. What is the average cost of coworking space in Houston? The popularity of coworking spaces in Houston may be part of the reason for the decline in traditional office space occupancy as more and more people choose a more flexible workspace arrangement. According to recent statistics, 22% of Houston’s office space is vacant. Things began to change when coworking spaces became popular. Once upon a time, Houston’s commercial real estate market was thriving. Houston, Texas, USA downtown city skyline. For a long time, these shared office spaces have served startups, freelancers, and individual professionals. Houston, Texas’s largest city with a population of over 2.3 million people, has a plethora of coworking spaces to support the growing culture. Coworking spaces are springing up all over the United States, including in Houston.
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