Houston Businesses Trending Toward Open and Co-Working Office Space
March 28, 14
According to a recent article from the Houston Business Journal, sixty percent of area office furniture companies who participated in a recent survey stated that they're seeing an increased interest from their customers in co-working spaces. The open layouts of a co-space encourage collaboration and a more team-like environment among employees, the article stated, adding that flexible work spaces also tend to fit the lifestyles of younger workers.
However, there seems to be an additional reason why businesses are trending toward an open layout, the article noted. With the price of Houston office space increasing, companies are trying to fit more employees into a smaller amount of square footage. The Houston Business Journal reported that downtown, top-tier Class A office rents, for example, have increased by 5 percent over the past year to an average $44.50 per square foot full service. Vacancy rates are at 6.1 percent, the journal reported, adding that those who are willing to pay the premium prices will find the money well spent, with spaces that their employees will truly enjoy coming to work in.
With increased rents and few vacancies, companies looking for office space in Houston may have to be innovative with their approach. At LandPark Commercial, we know the area real estate market and we know that there is more than one solution to getting the amount of office space you need. Our extensive knowledge of the spaces that are available, along with our negotiating skills, will help you to find and secure the office space you're looking for. For more information on our tenant representation services or any of the other many services we offer, contact us today.