Shared Office Space
When it comes to office space in Boston, there are plenty of options. While most businesses opt to directly lease dedicated space, it isn't practical for everyone. In particular, startups and small businesses often have limited budgets and less extensive requirements, so it doesn't always make sense for them to lease large offices on a long-term basis. Fortunately, there are other options, and shared office space is a prime example. Like most major cities around the world, Boston has a vast array of options when it comes to shared office space. Boston City Properties understands the city's shared office space market, and our team can help you to find the perfect shared space for your business.
What is Shared Office Space?
As the term implies, shared office space is office space that is shared by two or more tenants. A cost-effective alternative to traditional office leasing, shared space helps to reduce overhead expenses while providing a business with access to professional business space, amenities and services. Many shared office spaces are specifically intended for specific sectors; life science and biotech shared spaces are especially common in places like Cambridge and the Seaport District.
If you're looking for a flexible and effective office space solution, shared space may be it. Also known as serviced office space, business centers and executive suites, shared office space has soared in popularity over the last decade or so. This is especially evident in Boston, where you'll find shared space options in the city's busiest business and innovation districts.
Shared office space is typically marketed as a turnkey office solution, as the space comes fully furnished and equipped with everything that a company needs to conduct business. The available amenities will vary by location, but this type of office space typically includes:
- Office Furniture
- Business Equipment
- High-Speed Internet
- Mail Service
- Conference and Board Rooms
- Receptionist Service
- Delivery Service
- Publishing Service
- Telephone Answering Service
In Boston, as in most major cities, you can find sector-specific shared office space as well as general community co-working space. One benefit of opting for sector-specific space is that it allows you to collaborate with like-minded startups and businesses. This often fosters a spirit of innovation that boosts productivity.
Why has shared office space become so highly in demand in places like Boston? There are quite a few advantages of note. Most tenants opt for shared space for one simple reason: savings. Leasing shared space is significantly more affordable than traditional, direct leasing. Although the trade-off is having to share space with other firms, being able to reduce costs so dramatically makes it well worth it.
Another reason that some companies opt for shared space is because they want to project a more upscale image without having to lease a glitzy location. Shared space is available in some of Boston's most innovative and bustling business districts. Firms that would never be able to afford to lease the Class A space that dominates such areas can usually afford shared space prices, so it's an excellent workaround.
Finally, for freelancers and others who are mostly on their own, shared office space can help ward off boredom and loneliness. While many people work perfectly fine while home alone, others need in-person human interaction to stay productive. Thanks to shared office space, freelancers and other independent contractors have plenty of options if they'd rather not work from home.
Where to Find Shared Office Space in Boston
Shared office space is available in most Boston neighborhoods. However, most of it is concentrated in just a few districts. Not surprisingly, you'll find a plethora of shared space options downtown and around the Financial District. Increasingly, the Seaport District is a prime shared space location too. Back Bay is home to many unique shared space solutions, and lots of new spaces have been opening up in areas like Allston and Dorchester. Across the Charles River, you'll find plenty of shared spaces in Cambridge as well. Cambridge Coworking Crossing, or C3, in Kendall Square is one of the largest shared office spaces in the city.
Shared space is offered by independent firms and chain locations alike. For example, throughout the city, you will find numerous locations for shared office space firms like Workbar. Workbar Boston, for instance, is located at South Station. In Downtown Crossing, you will find Coalition Boston, and Back Bay has Oficio and many other options. Lately, many of these have been opening up over in Somerville, where you will find options like Workbar Union, Cove and Canopy. Boston City Properties can bring you up to speed about the most popular shared office options in any given neighborhood and assist you in securing the space that you need.
How Much Does Shared Space Cost?
Since most companies turn to shared office space to save money, it stands to reason that it is an affordable solution. That is decidedly true, but the price that you'll pay will vary depending on a variety of factors. However, in general, you can expect to pay anywhere from $100 to $500 per month for modest shared space. Boston City Properties' search portal lets you filter your results based on price, so you can easily zero in on options that suit your budget and needs.
Is Shared Office Space Right for Your Business?
How can you determine whether shared space is the right option for your business? First and foremost, if you have a very small number of employees and don't require a lot of physical space to operate your business, it may make sense. That is especially true if you have a very limited budget, as shared space brings many cost savings to the table. Lease terms for this type of space tend to be very flexible, however, so even if you try it out and it's not right for you, you won't be out of luck or tied into a long-term lease.
How Boston City Properties Can Help
If you've never leased shared office space before, you're probably feeling pretty overwhelmed at the prospect. Luckily, help is available. Boston City Properties understands the unique aspects of leasing shared office space in Boston. We maintain one of the most comprehensive online databases of MA real estate listings around, and it includes listings for shared space for lease around the city. Our listings are updated continually, so you can rest assured of receiving up-to-the-second information at all times.
Boston City Properties offers access to our listings for free. If you need to find shared space for your business, sign up for free, immediate access using the simple form on this page. In a heartbeat, you will be able to start performing searches with our powerful search tool. Select the neighborhood, town or city that you would like to target, and adjust the filters to reflect your requirements. You will then receive an extensive list of results of properties that closely meet your specifications. We also have commercial real estate experts in all Boston neighborhoods, and we can put you in touch with someone who can assist you with finding shared office space so that your search is as easy as can be.
Get Started Today
The perfect shared office space for your business awaits you in Boston. Whether you have set your sights on Back Bay, the Financial District, the Seaport District or elsewhere in the city or surrounding areas, Boston City Properties can help you quickly identify viable options. Sign up now to start searching our constantly updated database today. If you have any questions about shared space options in the city, our team is happy to get answers. When the time comes, contact us to be put in touch with an experienced local commercial real estate expert who can take you to check out shared space options around the city and more. We're here to help, so contact Boston City Properties today.
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