When deciding where you want to rent an office space for your company, you essentially have two options to choose from – an urban office in the city, or a more relaxed suburban campus. There are pros and cons to both options, and what works for one company may not work as well for another. Here’s what to keep in mind when deciding between an urban or suburban office space for rent.
Millennials Love Urban Spaces
One of the biggest arguments for keeping your office in the city is simply that millennials love living and working in urban areas. An increasing number of millennials are choosing to abandon their cars in favor of public transit or rideshare services, and it’s easier to do this in a downtown area. They also tend to enjoy living and working in areas with a vibrant community and lots of fun things to do. While there are some suburban locations that offer these things, it’s easier to find them in a big city. And as the millennial generation gets older and are becoming more experienced and valuable employees, choosing an office in an urban area can help you recruit them. It’s also worth noting that many older employees are moving back into the city after their kids move away to college, so urban office rentals will appeal to them as well.
Suburbs Are More Affordable
Although urban spaces are very desirable right now, offices in the suburbs are much more affordable. You’ll pay significantly less per square foot for office spaces in the suburbs when compared to office spaces in urban areas, which are much more expensive. Suburban offices for lease are also typically larger, and in some cases you’ll even get better amenities for your money. For example, in a suburban building, you might have more room for an open office plan or even a large break room for your employees. In the big city, where your space is limited, you might not be able to offer the same quality of space. You should also keep in mind that most big cities charge income taxes on the businesses there, but many suburban towns do not. If you can find an office in an area that does not charge income taxes, it will dramatically increase your company’s overall revenue.
The Parking Conundrum
Another thing to take into consideration when choosing an office space is the parking. If you live in an area where most people take public transit, then this won’t be a problem. However, if most of your employees like to drive to work, then the parking will be just as important as the office space overall. In big cities, many offices don’t have their own parking garages. This requires employees to find street parking and leave their cars in a vulnerable position, or pay for expensive parking garages. Suburban offices, on the other hand, often offer free parking in large, secure lots. In fact, they often have so much parking that your company will have spots for guests. If most of your employees drive, they will appreciate having designated parking spots.
Ultimately, it’s going to depend on your company and what makes the most sense for your needs. You will need to decide what features are most important to you when choosing a commercial property for rent. However, there are some strong benefits to working in suburbs like Clifton Park, NY that many companies don’t consider. If you’re on a budget or just have employees that love suburban living, you might be pleasantly surprised by how well a suburban office space works for your needs.