There’s no question that Charlotte is growing rapidly. This rapid growth is excellent for real estate as well as entrepreneurs and small businesses. There is one downside that tends to occur alongside rapid growth in population and demand, and that is cost. This is especially true when it comes to office space rent. As businesses compete for prime locations, the cost of those locations understandably increase. Charlotte has consistently ranked among the top 10 cities that have had increases every year in the cost of office space rent.
How Much Has The Cost of Rent Increased?
The average rate of office space rent across the nation has increased by 2.7% which is the highest it’s been since 2008. San Francisco tops the list at 13.8% over the year. According to the commercial real estate services firm DTZ, office rent in Charlotte in the second quarter was up 5.7% which puts it on par with Houston for last year. While overall this is a positive number in regards to the general growth of the Queen City, it can be a bit frustrating for those who are looking for new or larger office space.
Is There an Alternative?
Executive suites are quickly becoming a popular option among those who are looking to cut costs but still maintain an excellent location to help their business grow. With an executive suite you can easily afford a great location that is fully equipped for everything you need without the added cost year after year. With executive suites you’re also not locked into an expensive lease and can increase or decrease the amount of space you use depending on your business’s needs.
Not only do executive suites save you in the long run, but Ballantyne Executive Suites has a promotion that gives you two months’ rent for free. Besides being in the prestigious Ballantyne area of Charlotte and providing numerous types of office space to suite your company’s needs, it’s also even more affordable than before. Despite the raising rates of rent in Charlotte, Ballantyne Executive Suites has maintained its level of professionalism and affordability.
Whether you’re looking to move your company into its first office, to upgrade, or even to downsize, there is a perfect fit for you right here at Ballantyne Executive Suites. Give us a call today at 704-944-3200 to find out how we can continue to help your company grown and succeed!
