When is it Time to Move? How Houston’s Small Companies Can Find Their Next Office Space (byline)
There are a number of ways to measure the stage of growth a company is enjoying: funding, headcount, acquisitions, exit strategy, and more. But one telling indicator that often goes overlooked is the office space they call home. In the early days of a startup, working out of someone’s garage or at a nearby coffee shop, you dream of moving into a coworking space. Such a transition can mean a financial squeeze for some, especially when your prior solution was free. But paying for a space can mark a milestone—it signifies that you’ve made it to the next chapter. Houston has a number of great options for the many local early-stage startups undertaking this type of move.
East Coast Love: PropTech Startups Pick NYC Over West Coast
The aforementioned SquareFoot, a platform that aims to help companies find workspaces, moved to New York from Houston in 2013. Jonathan Wasserstrum, the company’s co-founder and CEO and Columbia Business School graduate, said while Houston was strong in the biotech and healthcare tech arenas, it was simply “not a big real estate city.” New York City, he said, is “second to none” from a real estate perspective.
Why Executives Give Up the Corner Office
About two decades ago, Jonathan Wasserstrum toured the renovated offices of then–New York City Mayor Michael Bloomberg, who wanted to recreate the large, open-office layout he used in his private finance network. The CEO of SquareFoot, a commercial real estate company headquartered in New York City, was impressed. “If it's good enough for Bloomberg,” Wasserstrum said to himself, “it’s good enough for me.” So today, he stations himself in the middle of his team of approximately 45 employees.