Managed Office Space: A Complete Guide to Managed Office Spaces
Managed office space is a growing term in the world of commercial real estate. But what does it mean?
There are several overlapping features between a managed office space and a serviced office. However, there are also key differences that set the two apart.
In this guide, we will break down what exactly a managed office space can be, how it is different from other options on the market, and what types of businesses should consider leasing this type of office space.
Covered in this article:
- A Complete Guide to Managed Office Spaces
- What is a Managed Office Space
- Managed Office Space Examples
- Difference between Managed and Serviced Office Space
- Who Should Lease Managed Office Spaces?
- Professionally Managed Office Spaces for Lease in Houston, Dallas, and San Antonio
- Process of Leasing Office Space
- Bonus Tips on Leasing Office Space
What is a Managed Office Space?
A managed office space is a workspace solution that is owned and managed by a third party.
For many businesses, managed office spaces are a solution that prove to be cost-effective and flexible, typically offering both short-term and multi-year lease options. A primary attraction to a managed office space is its minimal capital investment requirement.
Unlike serviced offices, managed office spaces are spaces that come either built to suit or you have custom-designed to your unique business requirements.
Managed Office Space Examples
We’ve defined a managed office space in concept, but what does it look like in reality? Below are a few managed office spaces The Hartman team is currently managing. Click or tap through to see the available office space and amenities of locations like these.
Software company, Crayon Software, has signed a long-term, full-floor lease of the 14th floor of the Three Forest Plaza office building in Dallas. The 21,000 square foot space includes 3 large training rooms with wireless capabilities and branded etched glass doors, a large kitchen with state-of-the-art appliances, and wrap-around windows with views of the Dallas skyline.
San Antonio Business Journal’s Business of the Year and Veterinary Corporation, Amerivet, has relocated and expanded its headquarters to Hartman’s 7-story Energy Plaza Building. The 10,000 square foot office space was designed with state of the art conference rooms, elaborate kitchen, executive coffee bar, office gym, pet play area, game room, 15 TV’s, and custom wood ceiling.
Oracle America Inc., the designer and manufacturer of network computing infrastructure solutions, leases two full floors at The Spectrum Building in San Antonio. The 35,000 square foot space was designed to include custom workstations, private offices, branded glass-walled conference and break-out rooms, multiple kitchens and coffee bars, and high-end tech set-ups.
Difference between Managed and Serviced Workspace
Let’s clear up the confusion over serviced office space versus managed office space:
Managed Office Space
- Tenant pays only for the amount of space they occupy (square footage)
- Typical lease period: 12 months+
- Tenants can have more say in the design and arrangement of the office space (this requires a tenant improvement allowance), which starts as a blank canvas or spec suite. Tenant defines exact requirements (i.e. number of desks, chairs, meeting rooms, etc.)
- Space is private and only used by your company
- Often comes at a lower cost per square footage than serviced office space
Serviced Office Space
- Tenant pays an all-in cost per desk each month
- Typical lease period: 1-12 months
- The office space is a furnished office space already fitted out and designed to the specification of the provider. This allows the tenant to simply show up and begin working
- Sometimes shares space with other companies and individuals
- Often comes at a higher cost per square footage than a managed workspace
- Example: Bizsuites by Hartman offers serviced office space options for small business owners in Houston, Dallas and San Antonio.
Who Should Lease Managed Office Spaces?
In general, when comparing the option of leasing a serviced versus a managed office space, a managed workspace is going to be the best fit for a more established business. This business is one that is looking for a long-term arrangement with the option to fully customize and brand their space.
There are plenty of benefits to choosing a professionally managed working space, which include the following:
- Fast move-in and easy relocation
- Know what exactly you need to pay. At Hartman, we have triple net or NNN properties. The advantage of NNN leases is knowing exactly what you are paying for the actual space that you are in, and also know what you will pay for operating expenses.
- Easily reconfigured to fit your team’s needs lends itself to a productive work environment
- Ability to design and brand the space making the space client-friendly
- Dedicated support team via the property manager
Hartman provides expertly managed office spaces for lease throughout Texas.
Professionally Managed Office Spaces for Lease in Houston, Dallas, and San Antonio
A managed office space can come with excellent benefits, with plenty of flexibility and operational support. As part of our ongoing commitment to white glove service and excellence, here is an illustration of how professionally managed office spaces from Hartman look:
- Access to full service in-house teams of licensed real estate agents, construction managers, certified property managers, and on-site engineering staff
- Regular tenant check-ins with property management
- On-site security guards and live video surveillance
- Full-access tenant lounges with coffee and snacks
- After-hours controlled building access
Interested in leasing office space from Hartman Income REIT? Contact us directly and we’ll be happy to help you find the perfect managed office space for your business.
Process of Leasing Office Space
If you’ve read this far, you’re probably curious: What is the process to secure a commercial lease for an office space?
Here is how the process works:
1. Contact a qualified commercial leasing agent. You will benefit from working with a leasing professional through every stage of the process.
2. Determine office space needs and terms (i.e. square footage needed, lease length).
3. Create a short list of properties to tour that best fit your needs.
4. Do your due diligence on the property and your prospective landlord.
5. Review your leasing contract with a legal counsel.
6. Counter with your updated terms and requests if desired
7. Negotiate until you’ve reached an agreement.
8. Sign the lease
Bonus Tips on Leasing Office Space
Here are two bonus tips and some extra resources for leasing office space, managed or otherwise:
1. Calculate the office space you need — Don’t get stuck in a too-big or too-small office space. Use an office space calculator to calculate the right fit for your business.
2. Cover all of your pre-leasing bases — Once you’re ready to move forward with a property, download our Pre-Leasing Checklist to ensure you cover all of the bases.
Here are some additional resources from our blog:
- Renting Office Space for Small Business: a Complete Step-by-Step Guide
- Negotiating a Commercial Lease in 2022–How Long Does It Take?
The team at Hartman will meet our customers wherever they are in the market, whether you are looking for a managed office space, serviced office space, executive suite, or want to lease several floors in a building. To find and lease an office space in Houston, DFW, or San Antonio, reach out to our team of leasing agents today.
About the author:
Sarah Hoopes is the Marketing Coordinator at Hartman Income REIT. She is a graduate of Utah Valley University with a Bachelor’s degree in Marketing and Business Management.