FARMINGTON, N.Y. — The business world continues to pave new ways to do business better on tighter budgets. When work-from-home is no longer an option, or you are a startup in need of something larger, industrial flex space for rent is an emerging real estate option.
Flex space, short for flexible space, is real estate for rent. We are not talking about a traditional office setting, but a warehouse-sized space. A new storage flex center is under construction in Farmington off of Thruway exit 44 that's connecting Rochester to Buffalo and Syracuse.
Owner Ed Samoel can't wait to welcome new businesses to his Western New York Commercial Storage & Flex Space. He knows a lot of startups and small business owners can't afford their own brick-and-mortar, so he wanted to help provide what he says is a less expensive real estate option.
"It’s a new concept where if you can’t find a place to open your business or store your equipment you can rent one or 10 of these bays and you can do your business right out of there,” said Ed Samoel, owner of WNY Commercial Storage and Flex Space.
He's building 18, 1,200 sq. ft. units. They have 16-foot doors and 18-foot ceilings. They are large enough for just about any company to do business out of them. He already has 11 of the 18 climate-controlled units rented. Each unit has its own bathroom. Rent is $1,350 a month.
So far businesses interested in leasing space here include an auto detailer, e-commerce reseller, electrician, mobile mechanic, landscaper, vinyl graphic installer and goods distributor.
“It’s hard to find places where you can actually open a business nowadays. You could rent office space. Those are everywhere. But you can’t open a business without having to worry about all the higher costs,” said Samoel. “I am really excited for this.”
A brief real estate survey of industrial space for rent and it's priced anywhere from $5 to $25 a square foot around Western New York. This new business park is about $1.10 a square foot.
It's a business about flexibility and versatility. It's another option for businesses when it comes to where to set up shop and how much they are willing to pay for it. WNY Commercial Storage & Flex Space is expected to open in April.