Apr 18, 2018

Five Forgotten Factors in Office Space Leasing

By Don Catalano

Connect

Five Forgotten Factors in Office Space Leasing
Leasing office space requires you to pay attention to a myriad of factors. You have to find the right sized space in the right building at the right price. At the same time, the configuration has to be just right to hold all of your workers while the lease terms have to be set up to give you the right blend of flexibility and long-term security. With all of those variables to consider, it can be easy to lose track of these four crucial factors.

 

1. Security

While crime rates in the twenty-tens decade are much lower than in the 1970s or 1980s, security is still an important factor in choosing a building. As you look at office space, pay careful attention to what level of security it offers. Physical security, locking doors, and a human guard can all go a long way to keeping your employees and your property safe. As you look at what you can see, talk to the landlord or property manager to find out how you and the building's security staff will work together, as well.

 

2. Signage

While signage isn't usually as important in office space as it is in retail properties, you still want visitors and employees to be able to find your space. Even if building signage isn't an option for you, make sure that you are allowed to describe yourself in a way that meets your needs on the building directory and on the signage adjacent to, over, or etched into your door.

 

3. Parking

Alternative modes of transportation are more popular today in 2018 than in the past, but many employees and visitors will still drive themselves to your office. As you look at buildings, insure that the building has the right amount of parking space at the right price. While some suburban buildings offer almost unlimited free parking, those in the central business district will probably require everyone to pay for their own parking. The more free parking you can negotiate with your lease, the happier your employees and customers or visitors will be.

 

4. Access

As your workers define their own work-life balances, the demands on your office space are likely to evolve. If someone wants -- or needs -- to work in the evening, and the building is not open, you could lose productivity. Instead of closing, some buildings shut down elevators, heating or air conditioning systems at certain times of night or on the weekend. Carefully read the landlord's proposal to make sure that a given office space's access policies meet your needs.

 

5. "The Rules"

Finally, look carefully at the rules and regulations that come with an office space before signing a lease. Restrictions on food and beverage or rules against animals could make it impossible for you to offer your company's free lunch or "dogs allowed" policies in a new office space. While these rules might be negotiable before signing a lease, once you're in, you're in.

 

Here are a few other articles to check out:

Five Lease Terms That Always Matter

Top 10 Commercial Office Leasing Tips

Importance of Signage for Commercial Tenants

 

Subscribe to our blog for more CRE tips!!
Subscribe Now

 

Office Space Calculator Use Now
10 Steps to Cutting  Your CRE Expenses Download
Improve EBITDA by Cutting Your RE Costs Download

Comment

Don Catalano

Don Catalano

Connect