3 Things to Consider as You Search for a New Office Space

3 Things to Consider as You Search for a New Office Space

3 Things to Consider as You Search for a New Office Space

15 March 2021
Real Estate, Blog

If you are considering a new office space for your business, you may be concerned that you don't currently have enough income to purchase a suitable property. Nevertheless, buying a new space is not your only option. Many commercial properties may be available for lease in your area. 

Still, it is important to find a property that meets your spatial needs and your budget. Here are a few considerations to keep in mind as you search for a new office space.

Your Workflow

As you visit various commercial properties for lease, be sure to consider the workflow of your business. If your company includes various work units with employees that regularly interact, you will likely need a space that can accommodate the placement of collaborating units on a single floor.

Also, consider your need for a meeting space  or conference room and whether or not a foyer or waiting area is necessary for customers. The floor plan of the potential new space should work well with the business flow of your company.

Some office spaces include a large open space that the leasing party can tailor to their needs. This can often be ideal, especially if you have budgeted for the property revisions or already have divisional furniture, such as cubicles. If you don't have enough funds or furnishings to accomplish your vision for the space, it may be best to consult with the property owner to see if they are willing to pay for a personalized buildout in exchange for a long-term lease agreement. 

Current Furniture and Equipment Sizes

If you already have the office furniture that you plan to use in the space, be sure that the rooms of the building are large enough to accommodate your existing items. If large copy machines and other office equipment is necessary for your business, the new office space will need to be large enough for the easy placement of these items.

Electrical Wiring

An old building may initially appear suitable for your needs because of its lower lease rate, but problems may arise if the electrical system is not up-to-date. Some low-voltage systems are unable to handle the electrical load associated with high voltage office equipment and multiple concurrent users. Thus, if you are unsure of the compatibility of the electrical system in a potential space with your office use, be sure to provide usage details to the owner before you sign a lease. Also, consider having an electrician inspect the space before committing to the property.

To review office spaces for lease in your area, schedule a consultation with a local real estate professional. 

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Getting Real About Real Estate

Buying any piece of real estate is a big undertaking. You need to do your research and know exactly what you're getting into. You also need to hire an attorney, have the place inspected, work with a lender, and collaborate with your real estate agent. When it comes to such a big undertaking like this, it is really important to know what you're doing. So even if you are not planning to buy for a year or two, it is not too late to start learning. Browse the articles on this website to get started, and you'll watch your own knowledge grow.