Account Executive/Relationship Manager
E.V. Bishoff Company
1. Location and proximity to your clients: Location is probably the most important factor you should consider while searching for your office space. This is the first thing you should determine before starting your search. If you want the vibe, action and walkability of a Downtown location then it makes no sense to waste your time looking at the suburbs. It also is important to consider whether your clients and employees are able to get to your office fairly easy. Whether you are going to provide parking for them or not they should have multiple options available. Being in close proximity to your potential clients is equally important. It may not be a major factor for an online business, but for a lobbying company or a law firm, for example, being close to their potential clients or court house would be beneficial.
2. Price is another significant factor. If you like the space, but know that it is above your targeted price range, then it’s best to start with something more affordable. It is certainly less “traumatic” to outgrow the space and expand later, then get into the space you realize you cannot afford. Doing your research and uncovering hidden costs will save you time and money in the long run. You should know the cost of comparable spaces in the same location and know exactly what’s included in the quoted price, such as common area maintenance and utilities. There is nothing worse than being surprised by a hefty year-end bill for operating expenses.
3. Size: Choosing the right office size can be challenging. It is a little easier for companies with a set number of staff that have been in business for years and know what they are looking for. It may not be as easy for a startup company, expecting to grow, expand their operations and hire more personnel. In this case, it is beneficial to have a space that allows for growth and potential reconfiguration, or a lease that gives an option to expand and move within the building.
4. Building ownership always matters! You will certainly feel the difference between a property that is managed by a third party and one that is owner-operated. For lack of a better term, you will encounter a certain pride of ownership in buildings that are owner-operated compared to those that are owned and managed by several different parties. Owners of the building who are not involved in day to day operations may not even be aware of the issues that exist within their properties. There is no guarantee that issues won’t arise during your tenancy but, when and if they do, it is much easier to deal with one person, than it is to be dragged through multiple departments.
5. Building Amenities: Having access to certain amenities within the building and its surrounding areas is a huge plus. Many buildings currently offer conference and break rooms, kitchenettes, Wi-Fi connection, furnished office suites and much more. What you need to understand is whether there is additional cost for these items or if they are complimentary. As for the amenities outside of the building, this goes back to the location factor. You may want to have easy access to your favorite lunch spots, parks, banks, pharmacies, etc. While touring an office building, take the time to learn what’s available within walking distance and explore the area!