The Office Space Advisor Blog

The Best Time to Look for Office Space

The best time to look for new office space depends on your company’s size, needs and location. There is no one-size-fits-all formula for determining when the search for office space should begin, but it is critical not to wait until the last minute. Commercial real estate becomes available at all different times during the year, so you don't have to be concerned with meeting any seasonal deadlines. Selecting office space for your upcoming relocation can be a very complex and unfamiliar endeavor, one that may take months or even years.

For most businesses, the stakes for choosing an optimal location are high. Settling on an office space in the wrong location could be costly to a business, while not accurately planning for growth could mean moving again in a few years, which strains both budget and productivity. The moving process itself can be expensive and time consuming, which is why it’s important to begin the search early. Office space costs are generally the second biggest cost to a company (preceded by employee costs), so it's important to spend enough time evaluating your needs and options.

Read More

Tips to Keep in Mind the Next Time You Negotiate Your Lease

Leases can be subject to change from year to year based on your contract terms. As your business approaches its lease renewal, entering into negotiations can be beneficial for both your business and your landlord. The topics of negotiation will vary widely, depending on your business’s needs, your lease terms and the fluctuating real estate market, but one of the best ways to successfully negotiate a lease renewal is to be well researched and prepared. Gaining insight into your business needs and the needs and position of your landlord will make lease negotiations proceed with more ease and clarity. As your business moves forward into the negotiating phase, consider the following five tips: 

Read More

5 Things to Consider when Deciding to Buy vs. Lease

For most businesses, office space is a necessity. When faced with the possibility of leasing or buying, how should your business decide which is better? Making this decision can be a daunting task, as many factors, both in and out of the business itself, must be carefully weighed and analyzed before a final decision is made. Before making a move, consider the following five questions:

1. What are the chances of relocating, expanding, or downsizing in the foreseeable future?

Read More

How to Choose an Office Space Design for Your Type of Business

Increasingly, more companies are looking for efficient and creative ways to use their office space. Smart office space design can mean leaner energy use and more efficient workflow. Alternative workspace arrangements involve moving beyond the standard square foot per associate calculation, integrating spatial, behavioral and technical factors in workspace design and space allocation. The trend has emphasized the importance of collaboration and communication in the workplace. Just how to achieve that harmonious balance varies according to the business and its specific work methods. Offices have transformed from simply a place-to-work to a place-to-innovate, fostering idea sharing and (hopefully) happier employees. The concept of a one size fits all office space is obsolete and inefficient, which is why businesses are taking more interest in office design strategies and the benefits they can bring to a company.

Read More

High Tech Companies Responsible for 20% of US Office Leasing Activities in 2014

The thriving technology sector is playing an important role in the recovery of the U.S. office market, as recent rental activity indicates. According to CBRE Group, Inc.'s August 2014 research report, U.S. Tech-Twenty: Measuring Office Market Impact, the high tech sector has created one fourth of all office-using jobs created between 2009 and May 2014. The booming job growth in the tech sector is directly reflected in national office leasing activity. In 2014, the high tech sector accounted for 20% of all U.S. office leasing activity, making it the top office leasing industry in the U.S., and there is little reason to expect that percentage to drop anytime soon.

Office leasing activity rose 14% from 2013 to 2014, and the 2015 outlook is strong. Tech firms in both the private and public sector are indicating growth in the upcoming years, meaning office expansions are on the horizon, and with the high tech industry far outpacing its peers in growth, the leasing trend is expected to remain strong. What exactly does this growth mean for high tech companies in search of office space? The importance of finding the right office space for current and future needs is becoming increasingly imperative.

Read More

Office Move – What Does This Mean to My IT Department?

Planning for the IT logistics portion of your office move begins the moment you sign the lease.  While the technology portion is often the most complex part of the relocation to new space, you can minimize risk and maximize success with thoughtful, upfront planning.

1)  Plan, Plan, and Plan Some More 

Technology and office furniture will likely be the two items with the longest lead times for your new space.  They also have significant dependencies on each other, especially as it relates to cabling requirements for furniture.  Make sure that you include team leaders from the technology and office management organizations on your move project team.

Read More

IT Considerations When Choosing Office Space

In today’s technology-centric world, your IT Department will need to be fully engaged in any conversation about new office space.  It is important to ensure that technology issues do not delay your move or result in a lack of productivity for your employees in the new space. 

Do your due diligence on telecommunications availability

Telecommunications, along with furniture, are the items with the longest lead times required in a move.  The first conversation you should have when considering office space is with your current provider.  Ask if they provide service to the locations under consideration.  Discuss bandwidth requirements and capabilities as they may be close to fully subscribed in your location of choice.  Request other telecommunication options from the property management/leasing team.  Evaluate cost, effects to your current contract, and lead time for installation at the new site.  Take your IT representative on property tours to confirm voice and data network capabilities on-site.

Read More

Things to Consider When Choosing a Colocation Facility

Colocation data facilities have the special ability to bring together diverse companies. Yet housing the digital assets of a potentially broad range of companies in one place means that colocation centers must be just as diverse and reliable as their "co-lo" tenants.

Colocation, or “co-lo”, is defined as the housing of applications, servers and data in an off-site facility separate from one’s center of operations. Companies that colocate their data frequently realize 50-60% savings in IT capital expenditures. But choosing a colocation provider is a strategic decision that requires a multi-year commitment and merits significant consideration.

Since demands vary by business, so do the criteria for evaluating a colocation provider. However, giving consideration to the following six important criteria should help ensure you choose the right colocation facility.

Read More

How Do You Know If You Have a Good Landlord?

If you operate a business, there is a good chance that you lease office space. For an expense that is so significant, and a decision that is so important, the relationship between a tenant and landlord should be one of mutual support, collaboration and growth; not an adversarial or frustrating relationship.  At COPT, we’ve always considered our tenants as partners because their success is crucial to ours.

While having a good landlord cannot guarantee you land the next government contract or win your next keystone account, an ineffective landlord can lower your productivity, increase costs and bring disruption to an otherwise well-oiled operation.   

Read More

Tips for Selecting Office Space for Your Cybersecurity Company

When looking for a new home for your cybersecurity company, there can be special considerations depending on the nature of your work. For instance, your space may need to be fit out in accordance with certain government requirements. If this is the case, you’ll benefit from choosing a landlord who can help you with the specialized build-out you need for your space.

But, there are other considerations as well. If you haven’t leased space before, some general guidelines can greatly simplify this process for you. When looking for a new home for your cybersecurity company, here are six things you should consider when looking for office space: 

Read More