There are benefits to owning your own office space, as well as benefits to leasing. In one of EpiCity’s managed office communities, our residents have both options. Wall Street Conyers is in its final closeout, with two more spaces currently under contract for purchase. One is nearly 5,000 square feet! The community also has new executive suites for lease as well as larger office spaces available for lease or purchase. Let’s look at some advantages of both options.
Benefits of Owning
If you’ve been renting office space for a while, or if you’re considering doing so in the future, you may want to investigate an alternative. Purchasing your office space provides significant benefits you may not be aware of, including:
• Real Estate Investment – Commercial property can be a very profitable investment. Use the property for your own business and avoid monthly lease payments or rent it out to another business and collect lease payments of your own. If and when you decide to sell your space, you keep any profits.
• Tax Benefits – Check with your accountant because ownership may provide your business with some valuable tax benefits.
• More Control – When you own your property, you’re in control. There’s no lease to negotiate; there’s no “landlord.”
• Small Business Financing Available – Check with your bank or go through the Small Business Administration to make sure that you have the resources you need to grow your business and/or buy your own office space.
One Wall Street Conyers’ business owner, Dr. Kenneth Boscher of Conyers Family Chiropractic Center, says, “We bought our offices at Wall Street Conyers several years ago, and prior to that we leased here for 10 years. The lease was twice as costly as purchasing the space, and we bought double the space, so it’s a perfect scenario.”
Benefits of Leasing
There are many advantages to leasing, as well. Leasing is typically less expensive in the short term and it offers flexibility for companies that plan to grow or are new to the area. By signing a longer-term contract you can still enjoy a more permanent presence, along with custom build-out options to personalize the space. With EpiCity, build-outs are handled extremely efficiently, allowing you to quickly transform a space into your own business home. Leasing space also allows you to focus on running your business rather than managing your office space.
• Less Expensive in the Short Term
• Fast and Easy Move In
• Build Out Options
• Long Term & Short Term Leasing Options
No matter which option you choose, EpiCity will help solve your real estate needs quickly and efficiently. Give us a call or email us for more information.
My older brother and his business partner are hoping to find a temporary office space for their company for a few months. I love how you said that leasing a commercial property is the less expensive option for short-term solutions. I will recommend that my brother looks into leasing an office property for his company to save money.