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Two New Office Space Trends Reducing Office Space Absorption

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Two relatively new office space trends that have impacted the general office space market are co-working office space and virtual office space. As we approach the three year mark of the recession and slow recovery, many professionals have had to look for means to reduce their overheads. With conventional office space costing an average of $4,000 per year per person along with the additional cost of staff, equipment, furniture, telecommunications and Internet on top of that, many small companies have found other means to the way they work that does not include conventional office space.

Two of those alterative workplace methods are co-working space and virtual offices. Co-working space is space in which business people can use tables, conference rooms and shared facilities such as WiFi and videoconferencing on as needed and a pay-per-use basis, significantly reducing overhead. In manu cases it is simply an open room with tables or can be similar to a lounge.

A virtual office is essentially an official address, in a typically prestigious building, in which a small business can have a full time identity and use the facilities on an as needed basis.

Both of these alternatives have impacted the office space market by reducing the need for small business to have a full time office space. Executive suites have been impacted hardest since many of these busisness would have chosen full time offices with them. Even after the effects of the recession are gone, many small businesses will continue to use these alternatives, In fact, it is our believe that these modes of office space occupancy will continue to expand and become even more popular, not just with small businesses, but many large businesses as well. They fit the lifestyle of many younger workers better than conventional office space does.

For more information, please see our article on the 21st Century Office Space.

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Executive Suites , Flexible Workspace , Office Space , Virtual Office Space

1 response to “Two New Office Space Trends Reducing Office Space Absorption”

  1. Anthony Says:
    There is Officially a coworking space in Las Vegas Located on1 W. Tompkins Ave in Las Vegas NV. we offer a ton of things that you cannot find any were else or at any other coworking space we have another one come very soon opening on Fremont St. Downtown were the hub of the small business tech scene is in Vegas to be opened in the next couple weeks.