Companies must be agile to compete in a dynamic environment. The market demands swiftness and flexibility in everything from product lines and services to even the office space that serves as a company’s home. For organizations that require flexibility from their office space the commercial real estate market has kept pace with the evolving demand to offer solutions to changing needs. Flex space is a solution that can be a significant advantage to businesses that need to get maximum usefulness from a single space.
Flex space is short for flexible space and offers businesses significant build-out opportunities to tailor the space to their needs. TenantBase wanted to take a closer look at flex space as well some of the advantages and disadvantages it brings to a company. No two businesses are identical so evaluate your own specific needs to decide what type of office space suits your company, goals, and expectations best. With guidance from TenantBase, you will better understand flex space and if it’s appropriate for your company’s next home.
It’s not feasible for most companies to lease different types of office space that specialize in one or two functions. This is one of flex space’s main benefits, giving companies more efficiencies by providing a single space that is useful for a variety of purposes.
Flexibility is also beneficial for growing companies since flex space is designed to be adjustable and keep conversion costs low to extend the usefulness of the space. Besides cost efficiency and the ability to change as a company grows, flex space also offers other distinct advantages to companies.
The most obvious drawback to flex space facilities is the ground floor location. This can present a safety concern if the property management doesn’t provide building security.
A ground floor location also means no panoramic view or underground parking. Because flex space is unadorned to maximize efficiency and adaptability, you will likely find little to no amenities like you would in a traditional tower or business park.
Flex space can be a significant benefit to companies that want to customize their space to their specific needs without overspending on remodeling costs or carrying multiple leases. Flex office can provide tremendous value to your business by offering easy to adapt space. Your TenantBase advisor can help you find the ideal office space for your company’s needs, no matter what type of space that might be.