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Entries Tagged as 'Office Rental'

Millennials will be 75% of the Workforce in 11.5 Years

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What does this mean for the changing workplace? A lot! The Facebook generation is not only quite comfortable with working via the Internet, but actually prefers it. So what? As work becomes less of a place and more of an activity, businesses that expect to be able to attract the best and the brightest, will need to change how they perceive and manage their employees. Productivity measurement will be the key, not hours spent at the office.

How to change? A good way is to take a look at your office space. As a general rule up to 50% of it will be unoccupied during a good part of each day. If this is the case for your business, consider using an office hoteling system that can allow you to reduce your office space footprint, while allowing your employees to use office and meeting space as they need it and want it. It will not only save you up to 40% of your office rental costs, but make for a happier and more productive work force.

We can help. Contact us so we can get you started finding out how an Office Hoteling Reservation System might work for your company.

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By: James Osgood

Agile Workplace , Flexible Workspace , Office Hoteling , Office Rental , Office Space , Office Space Design

Omaha Office Space Market Conditions

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Founded in 1854, along the banks of the Missouri River, the city earned its nickname “Gateway to the West” from a crossing called the Lone Tree Ferry.  The largest city in the state of Nebraska, Omaha consists of a diverse population of approximately 427,000 residents.

Once a pioneer town, Omaha was home to one of the world’s largest stockyards.  Due to its central location, the city soon became a national transportation hub.  During the 19th century, Omaha’s railroads and breweries were important industries to the local economy.

Today, Omaha is headquarters to five Fortune 500 companies and boasts a modern economy of diverse and skilled knowledge jobs, including banking, insurance, telecommunications, and architecture/construction.  The annual College World Series, which Omaha has hosted since 1950, provides a great deal of tourism activity and revenue to the city.  Omaha is also the birthplace of the “richest person in the world”, Warren Buffet, where he made his fortune in business.

Omaha has a thriving cultural community, rich in musical and theatrical history.  A number of jazz and rhythm and blues musicians/bands got their start in Omaha, including drummer Buddy Miles, and jazz great Preston Love.  The community offers many historical attractions, such as the Omaha Community Playhouse, the largest community theatre in the United States.  Sports also has a long history in Omaha, with both the U.S. Olympic Swim Trials and the College World Series returning to the city in 2012. 

The city appears to be on a steady pace of economic growth and recovery this year.  This has led to new jobs and a resilient office market. The Omaha office space market is expected to stay vibrant through the end of the year as confidence in the local economy stays strong.

Market Area

Vacancy Rate (SF)

Asking Rent (Class A $/SF)

Downtown

474,815

$20.13

Central Dodge

174,605

$23.10

Miracle Hills

51,381

$20.75

Regency

108,360

$29.57

South Central

621,055

$24.40

Southwest

203,215

$19.73

Source:  Colliers International Omaha Metro Area Research and Forecast Report Q2 2013         

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By: James Osgood

Office Rental , Office Space , Office Vacancy Rate , Omaha Office Space

Deloitte, Consulting and Financial Advisors, Saves Millions Using An Office Hoteling Reservation System

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Deloitte, a New York-based company with dozens of offices in the US and many more spread around the world, entered into the world of office hoteling very early, soon after the concept began being discussed. Today, they continue to save big money by continuing to utilize an office hoteling reservation system in many of their offices. The company provides accounting, financial advisory, auditing, consulting and other services related to finances involved in doing business.

Adversity Drives Change

Deloitte leased office space consisting of three complete floors of the World Trade Center in NYC when it was initially attacked 1993. Due to problems resulting from the bombing damage, the CEO decided to break the lease and moved their staff to the World Financial Center, just one block west.

The 2001 attack on the World Trade Center also collapsed the World Financial Center, resulting in 3,000 employees being dislocated. One employee was killed and several injured. Everyone involved was injured emotionally. During this trying time, many Deloitte employees became teleworkers, learning they could do their jobs outside the traditional office workspace.

The Mother of Invention

Needless to say, even with a huge operation, the destruction of a single office and cost of rebuilding records from back-ups, as well as the fact that office space was at a premium in the Financial District of New York due to the loss of the World Trade Center complex, saving on real estate by reducing the footprint only made sense. Reviews revealed that only around 60 percent of many worker’s productive time was spent working with clients in their office spaces.

Officers at Deloitte decided the best way to address the empty space and high square footage cost of office space was to organize the workplace by implementing office hoteling through a reservation system. The plan was to share workspaces by placing a reservation, much like making a reservation for a hotel accommodation. The plan involved employees each having standard gear: a cell phone, a blackberry and laptop computer.  This equipment allowed employees to work from any location: a client’s office, a coffee shop, at home, or even sitting in a park. This same equipment worked well in the office as well.

The Details Define Success....or Failure

When Deloitte designed their office hoteling reservation plan, they too into account their design would affect employee motion, comfort, creativity and productivity. The shared workspaces and open workspace concepts had to benefit professional who traveled extensively as well as those who worked locally. Each employee must have a storage space of their own, perhaps roll around file cabinets to keep their on-going work in and maintain file records.

Central copiers, perhaps fax machines and, when appropriate, support staff should be available. Conference rooms should be available but also should have multiple uses; a mobile workstation can be placed in the room when no meetings are planned.

A properly planned office hoteling reservation system can save money and increase productivity. Deloitte saved 40% as soon as the plan was instituted. When fully deployed in all their locations, the Chicago office was able to give up an entire floor and that’s a lot of money saved.

Contact us so we can get you started finding out how Office Hoteling might work for your company.

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By: James Osgood

Agile Workplace , New York Office Space , Office Hoteling , Office Rental , Office Space , Office Space Design

Rent an Office Space: Office Tenant Improvements and Have They Become Too Expensive?

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When you rent an office space, the size and shape are always going to be the first things you're going to scope out to suit your business. What happens, though, when you'd prefer doing some improvements in that rented office space after you move in? Called tenant improvement, you'll need to negotiate with your landlord in order to get the improvements you want. But will you really be able to do that when the cost of tenant improvements have skyrocketed?

Negotiating the Price with Your Landlord

If you're a startup business, paying for the entire improvement of the office is likely out of the question. That's where negotiating with your landlord comes in and whether he or she would be willing to pay at least half of the costs. Whether you get an affirmative answer or not may have to do with the length of your lease. Should you have plans to stay at least two years or more on your lease agreement, the landlord might agree to pay 50%. Otherwise, if the landlord thinks you'll be out of there within a year, the cost wouldn't be much of an investment.

Keeping the Tenant Improvement to What You Really Need

There's such a thing as asking too much out of your tenant improvements and expanding to the point where it's extraneous. Your landlord may balk at paying half for something that isn't absolutely necessary. As well, your own budget could suffer if you add things that won't be needed for the type of business you have. Even so, have a lawyer read over your lease so you know all your rights are covered.

The Exploding Costs of Tenant Improvement

We wrote on the matter of TI costs skyrocketing a while ago. Many people think costs should be lower. Inflation, however, has made construction prices rise due to the higher cost of materials. This plus rising minimum wages for the workers might make tenant improvement out of the question unless you're lucky enough to find a budget construction company.

Regardless, you also don't want inferior construction work done.

In today's economy, it's best to approach any office improvements judiciously and mainly look for an office space that can already accommodate your needs. And there's no better place to do that than OfficeFinder. We'll help you find an office to rent or purchase without the usual hassles.

Contact us so we can get you started finding an already improved office without any hassles.

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By: James Osgood

Lease Negotiations , Office Leasing Tips , Office Rental , Office Space

Burglar Proof Your Company's Office Space

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According to FBI's Crime in the United States statistics, 26.1 percent of burglaries took place in business environments, especially office space. When a little over 1 in 4 businesses experience burglary, it's time to think about security measures you can put in place to protect yourself, your money and your property. Keeping your office safe goes beyond simply installing a security system.

Secure Your Mail

You might have your office locked up like Fort Knox, but when you leave your mail delivery in an easily accessible location, savvy thieves will be smiling. If your mail drop off is outside of the secured area, thieves can get access to your packages and even worse, your bills. Credit card and utility bills give thieves an easy blueprint for identity theft, leading to plenty of paperwork and headaches for you down the road. You also need to be careful when handling sensitive customer information, as a data breach on your part can lead to regulation issues that can cost you big time. Lifelock explains how keeping aware of your security weak points, developing policy to mitigate the issues, and staying on top of detection reduces the risk of identity theft from burglary.

Is Your Security System Actually Effective?

The last thing you want is to install an expensive security system, only to have it utterly fail when you need it most. Don't let heavy handed business-security sales forces pressure you into making a fast decision on purchasing a system. Each business has specialized needs that prevent a one-size-fits-all solution from applying to business environments. "Expensive and full of features" doesn't matter if the features don't work with your office situation. Redwire reports that one of the main factors driving the type of security system you should invest in is the location and type of business. If you don't have a lot of physical, expensive products to draw in a burglar's interest, you don't need as extensive of a security system. Determine where physical entry points are accessible to thieves and make a note of the lighting conditions around your office. Each insecure entry point needs security monitoring, and if possible increase the lighting outside of the building.

Don't count on external security measures entirely, however. Supplement this with internal security systems such as fingerprint door locks or key card access to deter most burglars who do manage to get past the outer security system. Once you've selected a system, have a third party test its effectiveness before you put all of your trust in it.

Reduce Theft Targets

Most businesses can absorb the loss of some product, but if a thief targets business equipment, you're going to have a harder time bouncing back from that. Reduce the chances that your business suffers a substantial technology loss by securing expensive electronics and technology out of immediate view of the burglar. Sheriff.org reports that most burglaries are committed by amateurs who aren't going to want to spend a lot of time in the business office. Use discrete hiding places or safes to secure expensive mobile devices, remove all keys and access cards from business equipment you can't move. Be sure to also keep the truly irreplaceable equipment in rooms with deadbolts, pinned hinges, and other security measures, as Sheriff.org highlights.

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