March 14, 2022
How Much Does It Cost to Rent a Workspace in RGV Area
One of the biggest concerns small businesses have when it comes to finding office space is the expense – and rightfully so. Renting workspaces can cost businesses tens of thousands of dollars a year (or more). Signing a lease you cannot afford can cause long-term financial problems for your business.
That is why one of the first steps to finding office space for rent is to do your research about the costs in your desired area – and to set a budget that is both realistic and affordable. To help you with this research, we have gathered information on how much workspace for rent costs in the McAllen-Mission-Edinburg area, and factors that can affect the cost, so you can find the right workspace for your needs and your budget.
The greater McAllen area is a very affordable place to find office space compared to bigger cities, like New York, which can cost $100 per square foot per year, or Atlanta, which costs just under $4,200 per year per employee.
Even when compared to the national average of $8-$23 per square foot per month, McAllen workspaces for rent come in lower. Some spaces cost as little as 90 cents per square foot per month.
However, even in McAllen, you can find spaces that run much more than this low price- Some of the area’s most expensive office spaces cost between $25 and $28 per square foot per month.
Clearly, small businesses can find a huge variation in rental costs in the greater McAllen area. So how can a business find a space that fits both their budget and their needs?
A number of factors influence just how much a space will cost, and arming yourself with the right information can help you ensure that you get the best value for your dollar when you look for an office lease.
Here is a look at some of the most important factors that influence the price per square foot of leased workspaces in the Greater McAllen area:
Businesses want office space in a visible, populated location where customers will see and easily access their business. As a result, office spaces in downtown areas tend to be in higher demand, and cost more, than offices on the outskirts of town.
For example, office space in Tribeca Square, which is located in central McAllen right off Expressway 83, goes for $26 per square foot per month in McAllen, while the Jackson Building in the eastern part of the city goes for $8/sq. ft../mo.
The type of building in which the office space is located can also influence the cost of the workspace in the McAllen-Mission-Edinburg area. Commercial properties are divided into three classes: A, B, and C. The newest, nicest buildings fall into the Class A category, with Classes B and C referring to gradually less well-kept facilities.
Class A buildings rent for the most money per month, while Class C buildings tend to cost the least amount of money (but you may end up in a building that does not present the professional image you need).
For example, Commerce Center West in McAllen is a Class A building where rents run about $17/sq. ft. Meanwhile, in the Class C McAllen Business Center, rents range from 90 cents to $10.80 per square foot.
Often, office spaces for rent in the greater McAllen area include amenities that can make office life easier and more accessible. Amenities you may wish to take advantage of include the following:
- Included utilities
- Janitorial services
- Kitchenette and refreshments
- Break rooms and conference rooms
- Office equipment and furnishings
- Bilingual staff
- Virtual business address
Typically, the more amenities you get with your office space, the more money you will pay every month. Amenities can drive up costs in two ways: 1) They can drive up the rent you pay per square foot, or 2) they may be added on as extra fees to your monthly charges.
The good news for small businesses is that workspace for rent in the McAllen-Mission-Edinburg area is available, and affordable. You do, however, have to enter your search with a clear idea of your needs regarding size, location, amenities, and more.
Here at Via Executive Suites, we offer versatile professional workspaces at an affordable price. Our low prices include a wide variety of amenities, from parking to security, common areas to bilingual front desk staff. Discover why our RGV locations are making work better in the Valley!