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Entries for month: March 2013

Weekend Reading - Recent OfficeFinder Tweets

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OfficeFinder #OfficeSpace News is out!  Top stories today via @OfficeFinder

Is Office Space a Thing of the Past? | The Commercial Observer http://ow.ly/jtxfW 

Assigning an Office Space Lease - what you need to know » OfficeFinder Blog http://ow.ly/jqFT3 

Having Your Cake and Eating it Too – Achieving the Delicate Balance in Negotiations http://ow.ly/jpyke 

Thinking Green when Seeking Office Space for Rent » OfficeFinder Blog http://ow.ly/jqG64 

RT @nuwire: US Housing Market Supply Up: Real estate research firm Trulia reports that the number of available homes for s......

Downtowns: What's Behind America's Most Surprising Real Estate Boom - Forbes http://ow.ly/jr6pl 

Rethink Your Office Design: Designing a More Effective Workspace | Entrepreneur Magazine

Startups - Focus On Your Team, Not Your Space » OfficeFinder Blog http://ow.ly/jqFOQ 

5 Things to Clean in your Office to Alleviate Stress http://ow.ly/jpxOu 

Rentable vs Useable Square Footage - clearing up the confusion http://ow.ly/jbsBy 

I understand that there are some markets that require the existing Ethernet cable in the office be disconnected (cut) before transfer. Make…

10 Questions to Ask Yourself Before Choosing an Office Space http://ow.ly/jg2Wt 

10 Office Space Terms You Should Know http://ow.ly/jbsJc 

China's real estate bubble - 60 Minutes - Big trouble on the horizon for China Real Estate http://ow.ly/j3mtN 

Regus and Shell launch city-wide workhubs in Berlin http://ow.ly/j66lJ 

OfficeFinder #OfficeSpace News is out! http://paper.li/OfficeFinder/1318021671 …

Superhero office - a company that encourages its employees to dream big and be happy http://ow.ly/j0fnK

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By: James Osgood

Office Space , Lease Negotiations , Office Space Design , Twitter , Office Leasing Tips

Regus Opens 1,500th Business Center

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Regus, the world’s largest provider of executive suite and flexible workplaces, continues to expand its network across the world opening their 1,500 office center in Pune, India. They now cover 600 cities in 99 countries. Regus is on track to achieve a network of at least 2,000 business centres globally by 2014 and dominating the global market for flexible workspaces.

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By: James Osgood

Executive Suites , Flexible Workspace , Office Rental , Office Space

Startups - Focus On Your Team, Not Your Space

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Starting a business is hard work.  Actually, those words don't really do justice to the amount of work it is to begin a business from nothing and build it into something.  Along with finding the right location that will suit your needs now, as well as in the future, you have to conduct interviews and put your staff into place.  You also have to make sure your products or your services are ready for the launch of your new company.  In everything that you have to do to ensure the success of your business, finding an office for rent is a job that might be handled better by someone who is a professional, a tenant rep.

Every business owner knows that the real strength of your business lies in the strength of your employees.  The team you put together will be an indicator how of successful you are.  Once the right people are in position, you'll want them to focus on getting your business ready to make money. And your focus will be there too.

However, you still need an office to rent.

That's the part you should leave up to the pros.  At OfficeFinder, that's what we do.  We not only asssit exisiting businesses with their office space needs, but also help startups just like yours find the office space that will fit their needs perfectly.  We understand the challenges that come along with searching out properties, viewing them and trying to decide whether or not they'll work for you.  We've helped countless businesses find homes that have served them well for a very long time. We have the expertise and the track record that proves that we know what we're doing.  

We'd love nothing better than to help you find the perfect location for your business.  Let us, your OfficeFinder professionals locate the best location for your startup.  Once we find it, and once your staff is ready to go, you'll enjoy the growth you've always dreamed about.

For more information, contact us today.

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By: James Osgood

Office Space , Office Rental , Tenant Representation , Office Leasing Tips

Assigning an Office Space Lease - what you need to know

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One of the office lease clauses tenants should pay attention to is the assignment clause. The basic idea behind the assignment clause to allow the tenant to assign the entire lease to a sub-tenant, the assignee, if need be. Typically, an assignment will require the landlord's approval in writing. The assignee must be qualified and the assignment is made without the release of the assignor’s liability. What this means is that you, the original tenant, will still be financially responsible to pay the rent in the event the assignee fails to make payments. This can add quite a liability on your financial statement.

There are ways to try to get around this. The first and foremost important requirement is that the assignee's financial statement is comparable or better to that of the original tenant’s. If that is the case very often you can negotiate with the landlord to a release after a period of time in which the assignee has paid rent on time and that the assignee is never in default of the lease during that time period. Another way to achieve a release is through a buyout option. If the subtenant is creditworthy you could offer the landlord a sum of money to release you from any future obligation.

Of course, the best way to go about this is to engage the services of a tenant representative when you anticipate the need to assign the lease, whether it is to downsize or to upsize. Tenant reps not only are intimately familiar with the market in helping you relocate, but also knowledgeable about the landlords in the area and what they may be willing to negotiate. If the tenant rep has brought other tenants to the building, the landlord may be interested in staying on their good side, in order to bring more future business.

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By: James Osgood

Office Rental , Office Leasing Tips , Office Space Negotiations

Finding Office Space for Lease in a Tighter Market

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Despite—or perhaps because of—the slow economy, the office vacancy rate across the nation declined slightly in the last quarter of 2012, to 17.1%, according to the real estate analysis firm Reis, Inc. This is because new office construction is virtually at a standstill in this economy, so businesses must find office space within the existing supply.

What does this mean for you? It means that you will need to be aware of some trends when finding office space for lease in this tighter market.

  • Asking and effective rents grew by 0.8% in the last quarter, meaning that it could cost you more to rent that new office space than it would have last October. This is also the ninth consecutive quarter in which rents have increased, meaning that while the economy is still generally sluggish, there is some recovery for commercial real estate.
  • The sharing of office space is becoming increasingly popular. Small startups and shrinking businesses are sharing space, and rent, in an effort to save money. This can work, and if you find the right fit, it can even be synergistic for complementary businesses. However, there are also pitfalls to avoid, in terms of assumptions and expectations, differing company cultures, and—most important—making sure that you get the parameters of the relationship in writing.
  • Leased office space per worker continues to shrink. According to the Memphis Business Journal, “Leased office space averaged 600 square feet per worker in the 1970s, but that number had dropped to 176 square feet in 2012.” Companies continue to find efficiencies, push for collaboration, and re-engineer existing space to accommodate more workers. This trend will doubtless continue in the face of increasing rental rates.

So how can you address trends such as these when seeking leased office space? We suggest that you start with us. Our tenant representatives are very familiar with these trends, and with local office trends, which vary from one metropolitan area to another. They will help you find the best possible options for leased space in your city, at no cost to you. Contact us today to get the process started!

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By: James Osgood

Flexible Workspace , Office Leasing Tips , Office Rental , Office Space , Office Space Negotiations , Tenant Representation