Finding office space for lease and office space for sale is an important consideration for any business. Whether you are working with a local market expert such as a commercial real estate broker, or using a free commercial real estate search engine such as SHOWCASE.COM to identify available office space for lease and office space for sale options, there are several important office space attributes to consider:
1. Location Near Major Transportation Routes, Public Transit: Perhaps the single most important factor to consider in selecting office space for lease or office space for sale is location. A convenient location with access to major transportation routes and public transit is rated very highly by employees. In order to recruit employees from a broader geography, it's helpful to be near a public transit station.
2. Workplace amenities such as convenient food, gyms, and parking: Employees place a high value on work places that offer convenient access to a variety of eating options. Convenient access to parking and proximity to necessity shopping stores and fitness centers are also important considerations in selecting office space for lease or office space for sale.
3. Healthy, Attractive Environment: In addition to office space location and amenities, the physical characteristics of office space are also an important consideration. In general, you want to look for office space that offers an abundance of natural light, with high ceilings avoid cramped and dark spaces. Energy levels are higher when employees are working in a bright office, with a connection to the outside world. Studies have found that employees are more productive and have fewer sick days in office buildings that offer natural lighting and systems that reduce contaminants and exchange internal air with air from outside the office building. Office buildings rated as LEED-certified or having an ENERGY STAR label that indicate the office building is energy efficient and managed in an environmentally responsible way can also be important considerations for choosing office space for sale.
4. Internet Connectivity: Some older office spaces, and even some new ones, aren't wired to support today's modern businesses. In selecting office space, be sure to ask the landlord what Internet options are available and contact utility companies directly to ensure that the space you are evaluating is connected to their service. Internet and telecom service companies will often provide a free assessment of an office location, and will charge the office landlord if installation is required. Include that improvement as a stipulation in the lease or purchase agreement before signing a lease or buying office space.
5. Security: It goes without saying that you should carefully evaluate any office space for lease or office space for sale based on the level of security provided by the landlord and the crime level associated with the neighborhood. Even in a high-rise office, make sure there is a controlled access and alarm system controlling access to the office space. Check with local authorities on reports of any cases of intrusion or thefts in the office space and in the area.
6. Layout of the Space: In addition to the office building characteristics, another important consideration in selecting office space for lease or office space for sale is the layout of the actual office space and how it meets the specific needs of the work that will be performed there. How efficient is the layout? How convenient is the access from the lobby and other common areas of the office space?
7. Image of the Building: In addition to its impact on employees, office space can present an image to clients and business partners. The location, layout, and "feel" of an office building and space will leave an impression on visitors and should be considered in the office space decision-making process. In general, office space for a startup should not be extravagant or a mismatch for the business values you want to express to your employees, investors and partners. The choice of office location, office amenities, office layout, and office build-out express to your investors, employees, and customers what kind of firm you are creating.
8. Recruiting: The location and image of the office space you select can support or hamper recruiting efforts for top talent.
9. Ability to Accommodate Future Expansion: One consideration often overlooked in selecting office space is how well or poorly it will accommodate future expansion. If additional office space is not available within the same office building, is there office space available nearby that can work?
10. Building Ownership & Maintenance: The quality and reputation of the office building ownership and management is crucial. The quality of the office space will only be as good as the involvement and responsiveness of the landlord towards tenant repairs and maintenance. This should be a critical element of any office space decision.