The Office Space Advisor Blog

It's More than Office Space

Dec 10, 2014 8:30:00 AM

office-spaceAt first glance, an office is just a building: a place where you rent space. But its implications are much more than that. It’s your business. For you and your employees, it's almost like a second home.

There are many more considerations involved than just how big your office is and how much it costs. It's an environment that supports you, fuels your—and your employees’—creativity, and affects the way you work.

When deciding on office space, make sure you lease from someone who understands the broader implications behind your decision.  When deciding on your next location, here are five important considerations to keep front-and-center in your evaluation process: 

1.  Your Business Strategy

Remember:  the goal is not to lease space, but to manage a business.  You have specific objectives for your business.  The question you need to answer is what space, and which landlord, can best help you achieve those goals.  You may think that a landlord can’t do anything to help your strategy. If that’s the case, you’ve been working with the wrong landlord.

2.  Flexibility

Your business is designed to grow. Everything you do is a step toward expanding your scope and your reach. For a large corporation, a little bit of growth doesn't have a huge impact on the status quo, but for small or mid-size businesses, adding just a few employees can mean you've outgrown your current facilities.

Then there’s always that time when you win a new customer and the need arises for you to have a location close to that customer.  Or, you may have a short-term contract, and being close to the customer would be valuable, but you’re not ready to commit to a long-term lease.

When evaluating facilities, ensure that your landlord provides you the flexibility to allow your business to run effectively and efficiently by providing options and flexibility, both before you enter the lease and after.

3.  Type of Space

Not all space is created equally.  Whether you are looking to lease class A, B or C office space, you need to be certain that your landlord can meet the requirements you have today…and tomorrow.

Your space, like everything else you use in your business, is a resource, so make sure you’re maximizing it.

4.  Community

Increasing collaboration and cooperation can be critical to winning new business and attracting top talent. In some industries, such as cybersecurity and defense information technology, it's important to be surrounded by like-minded companies who may become teaming partners with you, or prime or subprime contractors. You may be able to collaborate and solve problems more quickly than if you were geographically isolated.

If this is the case for you, it would benefit your company to be in an office environment with similar companies in the surrounding area or even the same building. You’ll also want to have various amenities nearby, such as a restaurants and a gym, to contribute to the sense of community and support employee health and productivity.

5.  Transparency

Office rent is one of your top controllable expenses.  In today’s competitive world, where it is important to do more, do better and do it with fewer resources, your landlord must be a partner that enables you to run your business efficiently. 

  • Does your landlord provide timely, accurate information you need to manage your business?
  • Are you able to isolate cost-drivers?
  • Does your landlord work with you to lower the total cost of occupancy?
Your offices are more than just space. You spend a great deal of your life there. You need facilities that function well for your company and provide you with the community that can drive your business to grow. Make sure your office space is contributing to your success, not slowing it down.

Free Guide: An Emerging Company's Guide to Leasing Office Space