[fa icon="calendar"] 10.31.2019 / by Demetree Real Estate Services
What is "flexible space" and how does it change the way we work?
When phrases like "flex-space" and "virtual office" are used, it can be hard to know the difference and what might work best for you and your business.
Both have an overarching definition of being a space that is easily customizable for as little money and effort as possible. They both offer flexibility for new and expanding companies and are a major market in real estate.
In the real estate industry “flexible space” is a broad term for a large amount of space that can be used for various purposes. Typically, this phrase is in reference to office space, one large room that desks and chairs can be arranged in in multiple ways to suit whatever the business needs are. They are often grouped around or near large multi-purpose conference rooms or kitchens.
Virtual Office Space
Virtual office spaces are an interesting concept in that they don't exist in the way most standard offices do. Imagine a traditional call center with dozens of employees, but many of them that would put that physical address on their business card are not actually there.
Virtual office spaces offer users the ability to use and pay for only what they need. There are physical and digital benefits that are offered by a real building, but they may not necessarily be used every day. It's perfect for clients who need a physical address, but not an office.
What can these spaces do for you?
Flexible and virtual spaces represent a growing trend in the real estate industry and for businesses in general. The flexibility and ease of use that are offered by these types of spaces are attractive not only to small businesses, but also those that don't require much space, such as satellite, contract, or work from home employees. They can even provide space for companies that are undergoing changes like expanding, downsizing, or relocating.
Worldwide there are nearly 35,000 flexible workspaces and that number is expected to grow in years to come.
Building owners can modify large unused areas into flexible workspaces that can then be leased while still maintaining traditional office aesthetics. Because buildouts aren’t needed, rentable furniture, services and supplies can be avenues for revenue and important selling points for potential tenants.
The flexibility of these spaces also allows for flexible leases. They can allow for month to month or even day to day agreements that suit both the tenant and property owner.
Whether your business is looking to offer a flexible work solution or you're looking to be a part of one, knowing what you need is an important first step. Being able to have a physical address where face to face meetings can happen will be a benefit from either virtual or flex-space. The size of a venture may be the true deciding factor between the two. It all comes down to which benefits appeal to the way your business will run.
About 2600 Douglas, Coral Gables, Florida
2600 Douglas is located within walking distance of Coral Gables' Historic Miracle Mile. The newly opened Tenant Hub with flexible space is available for short and long term usage including private offices and common areas. Included are connect tables & audiovisual equipment as well as high speed wired & wireless services.
For more information and to see available spaces, visit http://bit.ly/TheHubDouglas .