Got a precise calculation for how much office space you need right now, plus some growth projections?
Once you have some calculations in place, then it’s time to actually start shopping for office space. Here are some different ideas for finding the office space your company needs to succeed:
- Use a Tenant Representative Broker – You should look for a “tenant representative broker” specifically, because they work for you. If you find a building and contact the broker representative for it, that broker will be working for you AND the landlord so you may not get the best deal possible.
- Start looking a year before you need the space – The worst time to look for office space is a month or two before you actually need it. The landlord, or his representative, can use this time squeeze to his advantage to get you to pay more. Instead, give yourself plenty of time so you can turn down undesirable offers. As with any purchasing decision the more research and time you put into the process the better deal you will end up with.
- If it’s a down market…try to get concessions - Our economy is recovering, but it’s still not the best. Many cities are still buyers markets so use your marketplace advantage. Negotiate short term free rent and ask your landlord for tenant improvement and move allowances to be written into the lease contract.
- Use Your Network – talk to your industry peers and those in your professional circle of influence to see what advice they may have for you. You always know your business better than anyone else but listening to outside thoughts and ideas is a great way to make sure you are making the best decision for your company.
If you want to get the office space you need, those are some great tips for finding it and getting a deal that works for your company.
