If you’re wondering how much it costs to lease or rent an office space in Jackson, there is no short answer. The cost of commercial office space for rent is based on several factors like office size, neighborhood, and architecture.
This article is for entrepreneurs and small business professionals on the quest for quality office space for rent. If you’re starting your own business, opening a satellite office in Jackson, or taking your homegrown business from the garage into an office for the first time, you’re in the right place!
Here, we’ll cover the various details of office spaces that will affect your cost to lease them. From square footage to architecture, we’ll explain these key features and propose questions you should consider along the way.
Now, know that office space in Jackson, MS, is some of the nation’s cheapest. Should you have questions beyond this article’s scope, reach out to the team at Speed Commercial Real Estate.
Commercial Office Space — Size Matters!
It makes sense that square footage — we’re talking about the actual, usable floor space — will directly impact the cost to rent an office. All other factors aside, more room costs more money. Generally speaking, the rent at a 1,000 square foot office will be half the price of a 2,000 square foot office in the same building on the same floor.
However, the price per square foot varies greatly from city to city, block to block, and even from one building to the next! So, what else affects the price of office space for rent? You’ve heard that old real estate adage before: location is everything.
Location Affects the Cost to Rent an Office Space
You’re probably aware that office space in some cities is incredibly expensive.
- Across the nation, the office space costs anywhere from $10 to $55 per square foot.
- New York City, Los Angeles and San Francisco all have a reputation for expensive office space.
At the time of writing (August 2020), respectable office space in D.C. might cost $50.00 per square foot. In Miami, the same space might cost $33.00, and in Boston $22.00. Jackson is known for extremely affordable office space, sometimes as low as $5 or $10 per square foot!
A Closer Look at Location
There is far more to a location than the city and state, and this rabbit hole goes much deeper. The local amenities, neighborhoods, and noise levels can have a lot to do with office space costs. If you’re shopping for office space to lease, make a list of key features and amenities.
We realize that every organization is different, but depending on your business, you may need:
- Easy access to highways, airports or shipping infrastructure
- Quick access to a post office box, or cargo company
- Access to either unskilled labor or an educated workforce
- Public transportation systems for employees or customers
- Parking for your team or your customers
- High-speed internet access
- Wheelchair accessibility
- Appealing landscaping
- Easy access to office supplies
And let’s not forget that a gorgeous view from your office is worth something, too!
Naturally, an online-only “eBay store” can operate in a back room. A brick-and-mortar operation that requires foot traffic (like a boutique or salon) will need quality frontage with curb appeal and options for signage.
The safety of a neighborhood is also crucial for some businesses. If your business model requires you to keep a lot of cash on hand, store credit card information, or maintain expensive equipment, be sure to spend some quality time — in person — in the neighborhood.
Choosing the right community for a retail operation, in particular, will require boots on the ground.
- For the sake of your employee productivity and customer experience, you should also consider how much natural sunlight a commercial space gets, and the noise pollution happening around the office.
- We all know that healthy workers are productive, and natural sunlight has been proven to boost employee productivity in dozens of studies.
- We also know that noise can reduce output and cause good employees to leave.
As you can imagine, the loft space above a noisy factory might be economical, but will you want to work there? If you leave the office every day with a tremendous headache, will you renew the lease next year? Probably not.
So you see, details like this have a considerable impact on your cost to rent an office — and the cheapest office isn’t always the best choice.
On Neighbors & Neighborhoods
The neighborhood you choose to do business in says a lot about your organization.
When browsing for Jackson office space online, ask yourself:
- Should your office be found in an industrial neighborhood or the swanky streets downtown?
- How close do you need to be to suppliers?
- Does foot traffic matter to your business plan?
- How close are your competitors?
Convenience plays a role in the price of office space, too. High-end, marble-floored offices near the courthouse are appealing to attorneys and are priced accordingly. Speaking of marble floors, let’s move on to those kinds of architectural details that can affect the price to rent an office.
Lastly, Consider Architecture, Design, and Historic Buildings
Sparkling new commercial office space will undoubtedly cost more to lease than the same square footage in a run-down building.
There are benefits to leasing a new office space.
- For instance, you can be confident that the electrical system can handle dozens of servers, and that the HVAC system can keep them cool.
- You can also trust that this commercial building was built according to Mississippi safety codes — meaning safe stairwells for your staff and quality roofing over your inventory.
But there’s something to be said for recently renovated historical buildings, too.
- Once remodeled and brought up to code, historic office buildings can lend unparalleled ambiance and dignity to your office.
- If you work in financials, insurance, or the legal profession, what could be better than a beautifully renovated historic office space?
Ultimately, every small business has a unique angle, and so does every office space for rent. The perfect office will help you attract the right staff and the best customers. Whether you need a high-tech facility or a cozy back office, reach out to Speed Commercial Real Estate today.
Related Reading & Resources:
Priceithere.com: How Much Does it Cost to Rent Office Space?
Marketwatch.com: Here’s How Much Your Company Pays to Rent Office Space