When we were looking for office space in Berkeley earlier this year we were seeing list price between $3.25-$2.75/month per square foot, or $780k-900k/year for 20,000 square feet. I’d expect with negotiation you could get somewhat better pricing than this implies, especially if committing to a longer time period.
Yep, if you commit for longer time periods you can definitely get better deals, and there are definitely other ways to save on office space costs. I didn’t mean to imply this was the minimum you could rent office space for.
The $1.2M/yr estimate was roughly what we were paying at the time, and as such was the central comparison point we had. Comparing it to something more like $800k-$900k a year also seems reasonable to me, though I have less experience with the exact tradeoffs faced by doing that. One reason for that comparison is that the price estimate I did in the comment above included utilities and servicing the space, and I don’t have a ton of experience with how much cost that adds to an unserviced office lease, though I still expect it to be a bunch lower than the WeWork prices.
Yep, if you commit for longer time periods you can definitely get better deals, and there are definitely other ways to save on office space costs. I didn’t mean to imply this was the minimum you could rent office space for.
The $1.2M/yr estimate was roughly what we were paying at the time, and as such was the central comparison point we had. Comparing it to something more like $800k-$900k a year also seems reasonable to me, though I have less experience with the exact tradeoffs faced by doing that. One reason for that comparison is that the price estimate I did in the comment above included utilities and servicing the space, and I don’t have a ton of experience with how much cost that adds to an unserviced office lease, though I still expect it to be a bunch lower than the WeWork prices.