leasopedia

Broadly speaking, there are three types of office space: traditional, executive, and virtual.By far the largest percentage of offices are traditional leases.  Traditional leases fill up most of the buildings you see around you everyday.  They can have durations of up to 15 or 20 years (this is what large law firms and fortune 1000 companies tend to have.)  Sometimes you will find leases for just a year or two but a majority of leases wind up being signed for between 3 and 5 years.  These are your typical spaces you are in when you go to visit your accountant or insurance agent.  Most traditional offices are for companies with at least several employees so sizes start above 1000 square feet.  While there are examples of smaller spaces, they are few and far between. Note: Medical Offices fall into this category as well though there are typically slightly different leases due to the nature of the business.A recent (last 20 year) trend has been the proliferation of executive suites.  Executive suites offer smaller floor plans (generally under 1000 square feet) with more flexible lease terms.  Leases for executive spaces can be as short as month-to-month and generally go up to 12 months.  A more complete treatment of Executive suites can be found here.Finally there are virtual offices.  Virtual offices are generally offered by the same companies that have executive suites.  A virtual office at the most basic level gives the user an address where she can receive mail plus access to a conference room for a set number of hours a month. There are plenty of additional services available as well. To learn more about virtual offices read here.

Oh yeah…The newest kid on the block is co-working spaces.