Searching for a new office space can be exciting. Now’s the chance to see what’s changed in the market’s availability since the last time you signed an office lease. Before you sign on the dotted line, however, it’s helpful to know what questions you should ask yourself and the commercial real estate broker you’re working with. If you don’t have a list going yet, here are three important questions to get you started.
#1: How much office space do we need?
This might sound like a simple question, but many people forget to really think this through. If your company is actively growing, you might consider the minimum office space you currently need. But, you should also project what you might require in the near future with added staff. Obviously, you don’t want to lease a space that’s more than you need. However, contracting a small space that you’ll outgrow before your office lease is up is not ideal either. Another factor to consider is whether or not your office space requirements have changed since the onset of the COVID-19 pandemic. Are more of your employees working from home and will they do so in the future? Will the new space allow for adequate social distancing if the current coronavirus safety measures become long term guidelines? Even if a lot of your staff is working from home, is there a conference room large enough to fit everyone for company-wide meetings?
#2: What’s in it for our employees?
Many companies are only interested in how a potential office space fits their business needs and bottom line. While these are certainly important considerations, they don’t paint the whole picture. Think about how your employees will use the space both during and outside of work. For example, take a look at Centerpoint IV, a building in Arlington, TX that offers Class A office space. Not only is it equipped with an ideal floor plan, but it comes with many amenities as well. The building is strategically located in the city and provides easy access to restaurants, entertainment venues, and public transportation. The property itself includes a jogging path, a beautiful lake, and exercise facilities. All of these provide conveniences that will appeal to your employees and perhaps improve productivity. Who knows, you might even attract better employees with quality amenities like these!
#3: Who manages the property?
Before you make a final decision on which office space to lease, consider who manages the entire property. A property management company with a large commercial real estate portfolio often receives significant savings on services their vendors provide simply because of the amount of locations they have. These savings are often passed on to the tenants in the form of more favorable leases. For example, if a tech support company, such as Dallas-based L33t Tech, services multiple buildings owned and operated by one company, they may provide better rates. After all, this company could make up a significant portion of their business. When the company you’re leasing from saves money, you might too!
Get help choosing the best office space
Once you’ve determined all of the questions you need answers to, it’s time to go out and look at some properties! Contact us today and one of our brokers will be happy to give you a tour of any of our prime office space locations.
