Startup Office Space
Boston's office space market is extremely fast-paced and competitive. It's difficult enough for large, established companies to find suitable space; for startups and other small companies, it's significantly harder. If you are looking for startup office space in Boston, Boston City Properties is here to help. We are experts when it comes to the many office space options that are ideal for startups, including incubators, executive suites and shared space. Our team knows how to locate space that offers the flexibility and affordability that startups need in neighborhoods and districts throughout the city. Whether you need co-working space in Cambridge or need a direct lease in Back Bay, we'll get you on the right track fast.
About Startup Office Space
There are many classifications for commercial space in general and office space specifically. However, if you perform a search for "startup office space," you are unlikely to find definitive results. This is because suitable startup space comes in many forms. What works for one startup may not work for another, so it's crucial to have access to timely, accurate information. With Boston City Properties, you get that and a lot more. Startup office space is typically minimalistic, affordable and, in most cases, shared in some way.
Since startup office space isn't a classification in and of itself, you need to determine what kind of space your startup needs first. As mentioned before, the vast majority of startups aren't looking for long-term direct leases. After all, so much is usually up in the air when a company is in its infancy. It is often difficult to predict how quickly it will grow, how its profitability and revenues will change and other factors. As a result, most startups don't want to be tied down to long-term leases. However, there are exceptions.
Short-term office space options for startups are widely available in Boston. Shared office space tends to be the top option, as it includes things like incubators, serviced office spaces and executive suites. Shared space is usually fully equipped and furnished, and it is available in many configurations. Some shared spaces are intended to act as general community co-working spaces while others are designed for companies that fall into specific sectors. Startups are often drawn to the latter because such environments foster a spirit of innovation and creativity.
Although it's far less common, some startups do opt for direct leases. This often means agreeing to a long term, however, and that isn't practical in many cases. The average lease is going to be for anywhere from five to seven years. A small business or startup can change dramatically in such a short period of time, so there is always the risk that the company will cease to exist before the lease is up. Some property management firms allow shorter leases under certain circumstances, and it is not unheard of for startups to snag leases that are as short as two or three years. Boston City Properties can assist you in finding such opportunities, if that is what you need for your startup.
Considerations to Make when Seeking Startup Office Space in Boston
As experts in commercial real estate leasing, Boston City Properties understands the unique needs of startups that are looking for Boston office space. If you are in the market for space for your startup, keep these things in mind:
- Location - For your startup to thrive, it needs to be easily accessible to employees and clients alike. While cost is an important consideration, location can make or break many types of businesses. If location is a major factor in generating sales, you should conduct careful market research to identify a suitable part of the city.
- Expected Growth - No one can predict the future. However, by analyzing the data that you have gathered about your startup and by putting your own knowledge to work, you can roughly estimate how much your company will grow in the next few years. If it is at all possible that your company will surge in growth, hold off on signing any kind of long-term lease.
- Parking and Transportation - How do most of your employees get to work? In a place like Boston, public transportation is huge, so it's crucial to select a startup office that is within close proximity of the MTBA and other options.
- Space and Configuration - Figure out the bare minimum amount of space that your startup will need. Smaller is always better because it is usually more affordable. You may also need to determine which type of layout works best for your business. For example, is an open plan that fosters collaboration suitable, or should semi-private cubicles be used?
- Technology Requirements - You don't have to own a tech firm to have significant technology requirements. Identify what you need to ensure that the startup office space that you select has the appropriate infrastructure in place.
How Much Does Startup Office Space Cost?
As a general rule, startup office space tends to lease for right around or just below the prevailing market rate. Costs are generally in line with those that are associated with Class B office space. However, startups should avoid focusing only on the cost of the monthly rent. Unless you have a flat rate lease payment, there will be many additional costs to contend with. These include things like utilities, parking, improvements, insurance, furniture, janitorial services and relocation costs.
Where to Find Boston Startup Office Space
No two startups are alike. As a result, office space that is suitable for startups is available across most neighborhoods in Boston. With that being said, such space is more readily available in some areas than others. Since startups tend to be associated with innovation and growth, you'll find this type of space in some of the most fast-growing parts of the city, including the Seaport District. Startup space can also easily be found in bustling business districts like the Financial District, Back Bay and Chelsea. Make sure to look just outside of Boston too, if practical, as places like Somerville and Cambridge tend to have fairly eclectic offerings too.
How Boston City Properties Can Help
There's no need to go it alone when looking for startup office space to lease in Boston. The team at Boston City Properties is here to help. When you sign up using the simple form, you get instant, free, unlimited access to our continually updated database of Boston real estate listings. Our database includes up-to-the-minute listings for startup space in neighborhoods around the city as well as cities and towns around Massachusetts.
Using our search tool, you can quickly zero in on great startup office space in vibrant areas like Back Bay, South Boston and Dorchester. Use filters to narrow things down even more. If you have questions about any of the listings that you find, a member of our team will be happy to assist you. Later, when you are ready to take a look at options in person, we can put you in touch with a local commercial real estate professional who can lend you a hand. They can assist you with everything from negotiating a great lease to closing a deal for space for your startup.
Find Startup Office Space Today
Finding startup office space in Boston is quick and easy with Boston City Properties. We constantly stay abreast of the latest developments in the city's commercial real estate market, so we can direct you toward the best opportunities for startups in any neighborhood or district. With free access to our powerful, comprehensive real estate database, zeroing in on suitable startup space couldn't be easier. Thanks to our connections with experienced commercial real estate experts, we can get you the guidance and support that you need in no time. We're ready when you are, so contact Boston City Properties today for more information.
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