Volume 8, September 2016

Tenant Tips:   continued

Among those considerations there are five office space leasing tips that the professionals have used successfully for years; now you can, too.That is where a good tenant rep comes in – to make sure you don’t miss anything crucial. Among those considerations there are five office space leasing tips that the professionals have used successfully for years; now you can, too.

5 Office Space Leasing Tips

1. Plan for the space you need next year. Look back at the growth history of your company. There should be a consistent trajectory that shows annual expansion. Lease a space for the growth benchmark that you anticipate meeting in a year from now. Doing so lets you grow into the space and prevents from busting at the seams if you grow faster than expected.
2. Pick a location with a millennial workforce in mind. It is expected that millennials will account for approximately 45% of the workforce by 2020. You better plan your office space to meet their needs. This group likes to walk to nearby venues, rely on public transportation and prefers an urban setting that makes the balance between work and life an easy one. Following on its heels is Generation Z, which is expected to demand a similar work environment.
3. Look at a space from the customer’s point of view. When the proposed office is of sufficient size and near the amenities that your workers like, consider how your customers feel about it. An established clientele with a high loyalty quotient may follow you into the boonies, but finding new customers willing to travel there is unlikely. Be close to major transportation hubs and offer ample parking.
4. Leverage your brand. Marketers define your brand as the corporate identity of your business. If you are an innovative software developer, your office should be a mix of glass, acrylic, metal and modernism. Dark wood, shag carpeting or tired floor plans are not what you are looking for. Work with an expert tenant representative who can help you find a space that bespeaks your brand.
5. Negotiate a generous build-out allowance. When the space needs a few tweaks and some larger changes to take on the flexible workplace characteristics you envision, find out if your property owner will foot the bill or at least let you amortize the cost as additional rent. Using a build-out allowance saves you money. Negotiating the right amount calls for business savvy and a good understanding of what competing property managers offer.

Source: The OfficeFinder Office Space Bloghttps://www.officefinder.com/tenantrepresentative.html

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