I recently sat in on a presentation about “Shared Office Space”. This is where a company master leases a large block of office space, say 20,000 to 40,000 square feet, and then sublets to smaller, more transient tenants. This includes a menu of support services that can range from phone answering, access to conference rooms and “telephone
booths”, complete plug and play connectivity, bicycle storage, file storage, free coffee and beer, and social nights and mixers for entrepreaneurs.
This model provides considerable flexibility over traditional office space leasing schemes and allows small start ups a chance to get their companies going and scaled before making a commitment to traditional lease space. Lease term, ability to shrink or expand as necessary on short notice, using furniture and equipment instead of buying, and a
sense of community with other occupants are some of the major benefits of this option.
There are estimates that long term, this model could occupy up to 25% of Portland’s office market, and could help address the constant tension between a tenant’s desire and need for flexibility, and the Landlord’s desire (and need in order to obtain financing), for a longer term, consistent and reliable income stream.