In the Boston and suburban Massachusetts commercial real estate markets, there are more options than ever for the business owner looking to rent or lease an office. One important question before pursuing a lease is whether you want a traditional office space or perhaps an executive suite.
Traditional office space is ideal for an established business looking for a long-term home, as lease terms typically extend three to five years. These office spaces are a great option for a company looking to build a dedicated headquarters. A long-term lease can offer stability for a company and its staff, and allows you to create a more customized space to maximize utility and value. This is often the best way to get the most usable square footage for your dollar.
Executive suites are an appealing office space alternative for businesses needing flexibility in their commercial real estate. They offer much shorter lease terms, with agreements usually starting at three months, and a wide range of included services. Because they have move-in ready offices, and are open to short term tenants, executive suites are often rented or leased by consultants, startups, or branch operations of companies with distant headquarters.
Executive suites can include a range of added value, including full furnishings, shared office equipment, utilities, phone and mail services, and even trained administrative staff. The amenities and services offered by executive suites make it easy for a business to establish a professional office on a short timeframe and with limited staff.
Before leasing or renting your next commercial real estate, carefully weigh the pros and cons of an executive suite versus traditional office space, to find the best option for your business.