Many things go into finding the right commercial space. Here are some tips to keep in mind during your commercial office leasing hunt.
Think About Location
For some people, location is key to success; with others, it doesn't matter as much. Do you expect a lot of your business to come from foot traffic or mere exposure of by-passers? Is your business in a trade where people value distance traveled more than the reviews of your business? If so, prioritize location, both positioning on the street and the physical neighborhood. If not, you might want to spend your leasing dollars on creating a nicer office space for you and your employees.
Balance Value and Longevity
Also consider the impact of your leasing term in the long and short term. In areas where rents are skyrocketing, locking in a longer lease is probably in your best interests. But it also puts you on the hook for a longer payment term; if you question the longevity of the business or how long you want to stay in that office space, it can be a deal-breaker. Also consider that the longer leasing terms will usually have a lower rent attached, due to the convenience for landlords in securing a long term tenant.
Consider How the Space Will Grow With You
Do you plan to expand your office space in the next five years? If so, think about whether or not the office space will accommodate your needs, now and then. Would you be able to add 5 or 10 more desks to this office space? How could you arrange the space to make everyone more comfortable? What options does the landlord allow for office modification? Is there an adjoining office space that you could consider adding as an addition to your lease?
What Appeal Does the Space Have?
Last, but not least, consider how your potential employees and clients will view the office space. From a productivity standpoint, look at natural lighting, layout, and electrical wiring. Decide on your budget for furnishing the space with ergonomic work space equipment. Consider how the current furnishings and fixtures will make an impression on people who come into the office, and find out if you're allowed to swap out lighting centerpieces or add a specialty feature, such as a fountain or aquarium. With a great landlord for your commercial office leasing space, you can create and office that speaks to your needs and those of your employees.
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