Consider this before signing a commercial lease
Your company has decided to go in a different direction and is planning an office move. As project manager, you and your management team have been researching surrounding areas for commercial real estate in the best locations, where you know that your business has the potential to grow, and where you can create the perfect office space. With an ideal commercial real estate location or building design in mind, the company is ready to go ahead and secure a commercial lease, but before doing so, there are several crucial aspects of the commercial lease you need to consider in your office move plan:
What are the Office Space Needs of the Company?
First and foremost, it’s important to think about what the company will require at its new office space. Whether the office move will downsize or expand the business, certain office space requirements will change from what is currently in place. A critical office space first step is setting up an appointment with the management team as well as an architect, designer, or space planner to discuss the commercial real estate needs and how that will be incorporated into the blueprint. Think about how many employees will be relocating to the new company, the day-to-day activities that will be carried out, and possible additions that can be made in the new office space. This in turn will lead to discussions about office products, technical issues along the way and interior design needs. The ultimate goal of meeting with a space planner is to have a clear idea of what the new commercial real estate should look like and what you need to do to prepare for the new space.
Consider Expansion Needs
With an office move there is always great potential for growth. Before going ahead and signing the commercial lease, consider the changes that the company is planning to make. Will the new commercial real estate be suitable for those changes? For instance, you may be thinking about expanding the office space by building an addition; make sure that this is a viable option with the commercial real estate landlord before you sign a binding agreement. Moreover, where do you see the company in five years? Don’t think only about the office space, but also take a good look at the area you’ll be relocating to. Is it an area in which the business will be able to grow? A mistake in picking real estate can lead to the downfall of an entire business.