Technological changes and rapid growth over the past 15 years have changed the definition of an office, especially in the world of small business. An office is not so much a desk, leather covered chair and four walls anymore, it is now pretty much anywhere there is an internet connection. A large percentage of today's entrepreneurs and small business owners work on the go. Being able to connect anywhere you are through smart devices and wifi allows for more productivity and availability without being chained to a desk.
Though the ability to work anywhere allows for more work to be accomplished while accomplishing other life tasks, there is still a need for a traditional and professional environment to meet with clients or have a staff meeting. In many scenarios meeting an important client at Starbucks would just be too informal; enter the world of shared office space. It is a quickly growing market in commercial real estate. Many larger metropolitan areas around the country are seeing these rentable shared spaces quickly pop up more and more as the need and demand for them grows.
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A shared office space provides professional meeting rooms and work space for companies that do not own or rent a full-time brick and mortar traditional office space. This allows small companies and one person operations to keep costs down with lower overhead costs and value added resources.
Market analysts only expect the trend of shared office space to grow as technology continues to improve and offer more working options. Entrepreneurs are switching from bulky laptops to tablets with lightening fast Wi-FI connections while letting go of traditional work environments. The number of people starting their own business is growing as well. A shared office space allows driven entrepreneurs to go from home to meetings to sitting at a desk without clients and customers knowing the difference. This is appealing to professionals who want to conduct business on their terms.
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If you are looking to invest in the commercial real estate market, this may be a smart place to do it. With the right building and set up you could offer rentable space and opportunities for small business to thrive and grow in your area. If you get on the ground floor of providing shared office space to a city that does not yet have it you may find yourself investing in more commercial real estate to open more shared office space in the future, if you play your cards right.
Want more information on commercial real estate in Minot and surrounding areas? Feel free to browse our website or contact us anytime.