Moving into a new commercial office space can be a huge financial investment. This decision might also absorb a lot of your time. There are a few things you can keep in mind to make the process easier and ensure that you end up choosing the commercial office space that’s right for you and your business.
5 Things to Look for When Choosing Commercial Space
Does it Satisfy Immediate and Future Space Needs?
It’s important to have a concrete idea of how much you will be expanding your operation before buying commercial office space. Cramming your business into a space that is too small can be bad for employee morale and your bottom line. Moving to a larger space to fit your current needs may be necessary, but you should also think of any needs for the near future. If things go well are you going to think about further expansion? In that case, you might want to consider something with more space.
Is the Location Right For Your Business?
Thanks to the Kennedy Space Center, the Orlando Melbourne International Airport Hi-Tech area and surrounding technology industry that is thriving in Brevard County, FL, the Space Coast has a vibrant economy full of businesses and an expanding job market. When considering commercial office space, it might be wise to take note of what’s in the surrounding area. Just as an example: if you are an engineering company and wanted to expand to a new city, it would not be in your best interest to locate in a market area that does not have engineers available to hire in their marketplace.
Is the Building up to Date on Regulations?
When looking for commercial office space, it’s smart to know the history of the building. When was it constructed? Has it undergone any repairs or renovations? The Americans with Disabilities Act (ADA) was passed in 1990. It requires that buildings meet certain standards inclusive of people with handicaps. If the building is older, it might not be up to code. Repairs could be costly on your part.
Is There Enough Parking?
Ideally, you want commercial space that fully meets your parking needs. Whether space has a large parking lot or a nearby parking garage, this can be a key factor for future customers. Additionally, ease of parking will be an important factor in employee satisfaction.
What Kind of Transaction do you Want?
Is this going to be a permanent expansion into the area? Are you planning on finding something bigger and better as soon as possible? All of these plans play into the type of lease you want or if you should purchase. If the office space is going to be temporary, it might be better to sign a shorter lease, even if it limits your options and raises the cost a bit. If this is a long-term move, then a longer lease or a purchase would be appropriate.
Finding the right commercial property can be a stressful process. The Ullian Realty Corporation offers professional services in every phase of Commercial, Industrial, Investment, and Real Estate Brokerage and Development, including, Sales, Leasing, and Consulting, specifically for the Brevard County Space Coast market area. With 50 years of combined experience, we will help you in choosing commercial space for your needs. Contact us to take the first steps towards finding the right commercial space.