What to Consider Before Looking for New Office Space

March 23, 2018

A new office space is an exciting change for your business, but you want to be sure that you find the right place. When selecting a property, there are many factors that can influence the success of your company.

It’s important to keep an appropriate distance to the competitors. Encroaching on their territory can cause a rivalry to flourish and put an unnecessary pressure on your business. On the other hand, you do not want to be far enough away from competitors that you lose segments of customers as a result. Striking the right balance with regards to separation is critical for success. Proximity to other factors is essential for your new office space, as well. Staying close to suppliers and customers is something to keep in mind when looking at properties. Being near partners should also be considered.

When signing a lease agreement, it is imperative to consult an attorney before making any legal commitment. The last thing your business needs is to be locked in to a contract with disagreeable terms. A lawyer will read the entirety of the leasing documents to ensure that the agreement favors you instead of the landlord. Speaking with an attorney is not as necessary when you are renting a workplace on a monthly basis, but it is still beneficial to do so. To protect your company’s interests, do not sign a lease if you are not completely confident on the terms. Lawyers exist to look out for your welfare, so it is advised to utilize them.

Accessibility is another contributor towards a fruitful business. You must make sure that your new office space is easily reachable for customers, employees, and suppliers. This includes having an adequate amount of parking spaces. You may lose clients if they find it difficult to get to your office. You should also consider if the space compatible for those who are disabled. Receiving shipments can be problematic in urban environments, so this is something to keep in mind if your business has frequent deliveries.

When you want a new office space, you should contact a tenant representative first. They also are looking out for your best interest and will simplify the real estate process. Tenant reps comb through listings in order to find the most suitable properties for your needs. They know the market and specialize in getting clients the best value possible. This knowledge is helpful to get you a fair deal when they handle the negotiations on your behalf. They exclusively work for tenants and are experts at brokering deals. Before inquiring about a listing, you should first speak with a tenant representative.

At NAI Isaac, we are a property management and commercial real estate firm. We offer a variety of real estate services including tenant representation. Our extensive expertise gives us the necessary tools to successfully tackle any real estate challenge or opportunity we are faced with. We have comprehensive knowledge of the market, which allows us to find clients the option that best aligns with their needs. We are located in Lexington, KY and serve the surrounding area. Call us today.


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