How Much Does it Cost to Rent an Office?

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: How Much Does it Cost to Rent Office Space? Here’s How Much Your Company Pays to Rent Office Space

6 Questions To Ask When Choosing An Office Space

Choosing the right office location and space can make a huge difference in the day-to-day operations of your business. You want your employees and any visiting business partners or clients to feel comfortable, welcomed, and productive in a space that is accessible. But do you know how to make the right decision about what office space is best? Read on to learn about what factors you should consider when choosing a location for your office. 

Does It Match Your Culture?

Both the space itself and the city or town it’s located in should match your business’s brand. Having a strong presence in a big city like New York isn’t right for every business, and getting such a prime piece of real estate can be difficult. Instead, find a town, neighborhood, or metropolitan area that appeals to both the clients and potential employees you’re trying to attract.

Don’t forget to consider your business’s values and culture when choosing the right space. Is your management style more laid back or more formal? Do you rely on teamwork and collaboration, or more on individual contributions? All of these will have an impact on where you choose to locate. Laid-back businesses may want to choose open-concept spaces in hip neighborhoods, while a more formal company may want a traditional cubicle-style office location in a city’s business district. 

Is It Easy And Convenient To Get To?

The perfect office space isn’t of much value if it’s in the middle of nowhere. Look for an office location that is accessible by public transit or near major highways so that employees have a stress-free commute and any clients visiting you on-site will be able to find you easily. Having a dedicated parking lot or plenty of parking nearby would also be to your advantage. And it even helps to be located in a highly walkable area, as this can increase your business’s visibility.

And don’t forget about nearby amenities. It can be nice to take clients out to lunch at a restaurant right down the street, and employees love having cafés and shops nearby, so they can get out and take a break from the office. If employees feel like they’re trapped in the office because it’s surrounded by busy roads or it isn’t close to anything, employee satisfaction may be lower. 

How Is The Office Space Laid Out?

Take into consideration how the space is laid out and if it works with how your business operates. Are there individual offices for senior management? If you focus on collaboration a lot, are there large conference areas? Do you plan on adding cubicles, or do you want to keep the space totally open? If you plan on meeting with clients in your office, is there space for that, too? You want a space that encourages productivity while discouraging burnout or isolation. 

High angle shot of businesspeople in an office with staircase and cafe tables

It’s also important to think about amenities like restrooms and break areas. Are there plenty available and are they in an area that’s accessible to your employees? It can be annoying to have to take a five-minute walk to the other side of the building just to use the restroom. And you’ll probably want a designated break or lunchroom, complete with space for, at the very least, a refrigerator, coffee maker, and microwave. Having an area for dining or just relaxing can encourage strong relationships between employees. 

And don’t forget about outdoor space as well. A park-like setting is always attractive, as this allows employees a chance to go out and get a breath of fresh air or some exercise in at lunchtime. But in big cities, having outdoor space, or even a dedicated parking lot is difficult. However, there will still be plenty of places nearby to walk to. 

Is The Space Right For Your Image?

You’re working hard to grow your business, attract new clients, and build a solid reputation, and your office space should reflect the image you’re trying to project. Think of your office as a marketing tool. Do you have a welcoming reception space that matches the feel of your business? An industrial-looking space could be great for a tech startup, while the same space may be a turn-off for clients of a financial consulting firm. 

What do you want your office to say about you? Are you fun to work with and work for? Then look for a relaxed space, where you can include elements like a ping-pong table or a recreational area. But at the same time, an ostentatious or over-the-top office space may have employees and clients wondering if you’re focused more on shallow elements as opposed to your actual operations. 

Is There Room To Grow?

Think about the projected growth of your business before you decide on the right space. Even if you’re small right now, where do you think you’ll be in five or ten years? Of course, you’re undoubtedly hoping to grow, but think about it in realistic terms. You don’t want to be moving office locations every few years to adjust for growth, so look for an office space that can scale with you.

Even if you’re not using all the space right away, it may be good to have down the line. Most experts recommend having at least 80 to 120 square feet per employee, including both personal workspaces and common areas. If you only have twenty employees now but plan on hiring five to ten more within the next few years, you’ll need an extra 400 to 1200 square feet to accommodate them. 

Are You Getting A Great Value?

Think about what element of your office location is most important to you. Is it being conveniently located close to public transit, or is it all about having a presence in the right neighborhood? Whatever is most important to you, make sure you consider this factor, along with the price of the space you want. Does it seem worth it? Remember, your office space is one of your biggest investments, and having an office that increases productivity, bolsters employee retention and satisfaction, and brings in new clients will pay for itself in the long run.