Need Office Space for Lease or Sale? OfficeFinder can Help find your next Office. Leasing Office Space Buying Office Space Membership Online Toolkit OfficeFinder Advisor

Finding an Office Space for Lease: Maybe You Should Go For A Short Term Office Rental Instead

No Comments »

When you find the right office space for lease, it is tempting to negotiate a long-term lease. Yet is this really in your best interest? Critics of short-term leases have claimed as long ago as 2009 that this practice was on its way out the door. The New York Observer ran a piece that spoke of a “looming obsolescence,” which observers attributed to business owners’ willingness to once again think long-term.

Asserting that short-tem leasing was a clear sign of a clouded vision, the experts celebrated the companies that decided to commit to a decade-long stay at a variety of prominent office buildings. Fast forward to 2013, and – to paraphrase Mark Twain – it becomes clear that rumors of short-term leasing’s demise have indeed been greatly exaggerated.

In fact, business insiders now recognize that thinking short-term can actually cut costs and position your business for future growth.

  • Be flexible. Are you in expansion talks? A short-term office lease lets you be as nimble as you need if a quick physical relocation or shifts of your business’s emphasis are in your future. Rather than committing to a long-term office lease, you have the option of renewing the lease at some point in the near future or walking away to grow your company. If you are locked in a long-term lease, this move could be so costly that it might make it impossible to turn your plans into reality.
  • Test-drive the size. Do 1,200 square feet meet your needs? Do 2,300 square feet sound like a lot today but maybe meet your needs perfectly in a month or two? When you choose an office space for lease with an eye on trying out the size and the amenities, you have the option of upgrading or downsizing to meet your realistic needs and budget limitations. If you made a mistake in your initial estimate, you can fix it in a few short months.
  • Analyze the expenses. There are a number of short-term office lease buildings that feature a concierge and on-site business services. These costs are usually rolled into the leasing price. Taking advantage of these amenities has the potential of saving you money in the long run, particularly if you are paying staff members or contractors to provide these services.

Of course, there are also plenty of other reasons to consider renting an office space with a short-term lease in mind. If you are currently experiencing funding restrictions, are going through a bout of down-sizing or are in a recovery after a major shakeup of your industry or company, a short-term lease gives you the chance to get settled and plan for your business’s future. On the other side, if rental rates are on the up-swing, going short term will cost you more in the long run. At OfficeFinder, LLC, our office tenant reps make it their business to ensure that your company finds the perfect office space and leasing terms. Contact us today to discuss your business’s needs.

Find Office Space

By: James Osgood

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

Dallas Office Space - Office Market Conditions and More

No Comments »

Dallas, or “The Big D”, is the ninth largest city in the United States, and the third largest in the state of Texas.  Downtown is the hub of Central Dallas, with several hot spots such as Uptown, and West Village.  East Dallas is a trendy arts area close to Downtown.  The newer area of the city, Midtown, is currently undergoing construction of new restaurants, retail businesses, and apartments.  South Dallas contains large amounts of undeveloped land, due to slow growth in the area. 

Dallas is well known for its culinary cuisine, which includes barbecue, Mexican and Tex-Mex, and several top ranked steakhouses in the nation. The city is also home to a thriving arts community spanning across many districts throughout the downtown area, including the Arts District, City Center District, and Deep Ellum. 

Texans love their sports, and Dallas is home to many professional teams, spanning all four major leagues: NFL, NBA, MLB, and NHL.  The city has several sports stadiums and arenas to accommodate all of its teams, including AT&T Stadium, Texas Stadium, and Reunion Arena.  The number of stadiums makes Dallas a good candidate for the 2020 Summer Olympics.  If you are more of a participant than a observer, Dallas offers many recreational activities such as fishing, hiking, biking, and camping. 

The economy of Dallas is anchored by the telecommunications and engineering industries and is home to 12 Fortune 500 companies.  According to Forbes Magazine 2011, Dallas is also home to 17 billionaires.  In addition, the city has more retail shopping outlets per capita than any other in the U.S. and is the nation’s third most popular destination for business travel. 

The Dallas office space and commercial real estate market traditionally has a high vacancy rate, and was at over 23% in the first half of 2013.  Although, this rate is expected to gradually drop over the next few years.  As for asking rental rates, they increased in Q1 2013.  Dallas is expected to continue to be a leader in the economic recovery and a desirable city for expansion and relocation for businesses.

Sub-Market

Total Vacancy (SF)

Avg. Asking Rent ($ SF)

Downtown

Class A:    6,774,052

Class B:    1,688,743

Class A:    $24.31

Class B:    $18.62

Suburban

Class A:    11,434,527

Class B:    13,862,626

Class A:    $22.96

Class B:    $17.50

Source: Jones Lang LaSalle Office Statistics, Dallas, Q2 2013

More Dallas Office Space Market Information

Find Office Space for Rent in Dallas

Find Office Space Elsewhere

By: James Osgood

Dallas Office Space , Office Space

Portland Office Space Update

No Comments »

Portland, Oregon has been described as America’s most European city, and has earned several nicknames, including “City of Roses”, “Stumptown”, and “Rip City”.   Portland is also referred to as one of the most environmentally friendly, or “green”, cities in the nation because of its emphasis on building public transportation networks and efficient land-use planning. 

Portland is a city with liberal political values, abundant outdoor activities, a lively arts and music culture, vast green spaces, and numerous micro-breweries and coffee shops.  It is fast becoming a destination for “foodies” because of its robust culinary scene.  It has a wide variety of restaurants, catering to all genres and cultures, including vegetarians and those looking for vibrant street food offerings.

Located east of the Pacific Ocean, Portland is a city of many lakes, rivers, mountains, and forests.  With a temperate, oceanic climate, it is the perfect environment for outdoor activities such as fishing, camping, hiking, mountain climbing, biking, and walking.  Portland’s city park system has been designated as one of the best in the nation.  

Tourism plays a significant role in the local economy.  Offering beautiful scenic views, vibrant neighborhoods, many historical sites, and a close proximity to both the mountains and the ocean, Portland brings people in from all over the world.  Its location makes it beneficial to several industries, including import/export, and international trade.  In addition, the metro-area is home to more than 1,200 technology companies, including Intel.

The market for office space market in Portland and teh surrounding area is tight, with only San Francisco being tighter.  As things tighten in the Central Business District, suburban markets continue to recover as new developments come on the market.  Tenants should be prepared for a landlord favorable market.  All the more reason to engage the FREE services of a qualified local office tenant representative, like the ones we have at OfficeFinder.

Market

Vacancy SF

Avg. Rental Rate $

CBD

 

Class A - 1,008,454

Class B - 772,288

 

Class A - $25.88

Class B - $21.07

Suburban:

Eastside

 

Westside

 

 

Class A - 138,904

Class B - 451,635

Class A - 439,904

Class B - 1,264,034

Class A - $24.02

Class B - $17.90

Class A - $21.25

Class B - $16.68

  Source: Colliers International, The Knowledge Report, Q1 2013   

Find Office Space in Portland

Find Office Space Elsewhere

By: James Osgood

Office Rental , Office Space , Office Vacancy Rate , Portland Office Space , Tenant Representation

10 Keys to Managing the Flexible Workplace with Remote Work Capabilities

No Comments »

Today’s emerging office leasing trend includes reducing the amount of offices space square footage by reducing unutilized desk space and meeting rooms into office hoteling spaces where employees reserve a workspace, a meeting space or a quiet space when needed. This is the one way managing a flexible workspace and remote workers can reduce operating costs, cut overhead and allow your company to recruit and keep the best and brightest.

An office hoteling system, with effective hardware and software technology, combined with the best training and deployment, can be more easily managed by embracing the following 10 keys:

  1. Investigate, Plan and Train Managers: As you begin preparing for a truly flexible workspace you will want to investigate the latest in technology; especially the office hoteling reservation system you wish to implement. Measure and plan how to change the workspace layout to facilitate hoteling. Then provide effective training for your management team. For some baby boomer managers, the concept may seem alien since they have spent their careers where being IN the office frequently was expected and demanded. Management at every level need to understand their changing responsibilities in the new environment and the ways in which the new philosophies will benefit them as well as their employees.
  2. Manage the Flexible Workspace Change Deployment as Part of Changing Company Goals: Employee want and need more than just an “oh, we can telework now.” introduction to the benefits the company will gain from this new working style and exactly how the change will also benefit the employee and their families. The company will become more eco-responsible and employees can enjoy mobility, increased productivity without more work. Goals that have direct positive impact on employees will help acceptance of the office hoteling and flexibility. For example, you could tie pay to performance with periodic bonuses based on sharing out some of the money saved on real estate footprint or another carefully thought out place of your choice.
  3. Use Office Resources Flexibly: Rather than increasing office real estate footprint for those situations where there are peak office hoteling situations, use resources in multiple ways. Provide some mobile workstations and network connectivity so that a meeting room can instantly become additional productive areas.  Yh These resources also can be used as quiet spaces when an employee who needs to work  in in a quiet area finds all the quiet workstations reserved.
  4. Prepare for  “Short Visit” Workspaces: Short visits are those where an employee needs to be accommodated for where the length of expected visit is less than the possible variance. This is considered generally to be a situation where an employee needs office workspace for, let’s say, 10 minutes sometime in the next 45 minutes. Usually this sort of office hoteling need is made by an employee running into the office to do necessary work between clients. Create some space that has a small work surface, computer with network access, phone, power, pens and note paper, and task lighting. By taking so little space, more workstations are available and it also makes the employee unavailable for drop-ins.
  5. Regularly Perform Cost / Benefit Analyses Assessments: In order to know how and how much hoteling is saving or costing your organization, regular cost/benefit analysis is a must. Effective management teams know and live by the adage:”If you aren’t measuring it, you aren’t managing it”, and apply this concept to office hotels. At first, you may spend a significant amount upgrading employee computers, tablets, networks, and smartphones but you will also be able to reduce the size of your leased office space. Employee recruiting, training, satisfaction, retention, productivity, as well as internal and external customer satisfaction, should be compared to past patterns to indicate how effective your office hoteling system is impacting your profits. Wherever an aspect of the hoteling is identified as an area for improvement, fully buy into and support the effort to implement corrective measures.
  6. Manage Worker Effectiveness Through Achievement-Oriented Tracking: Employees in a flexible, effective office hoteling organization can’t be managed by face-time any longer. Instead, establish ways to track the achievements accomplished. Whether you choose to do this through action item tracking, input of progress into a schedule, or another method, you want to be able to assess the progress on project or tasks completed so that your office flexibility is not abused.
  7. Manage by Walking Around: Each day, stroll through the office workplace at random times at least twice per day. These walkabouts provide a refreshing break from your busy day, but that is not the only benefit. This time-proven management technique allows you to see that the hotel workspaces are being used effectively. Don’t just touch base with those workers in the office at the moment but look for safety issues, traffic bottlenecks, under- or never-utilized spaces.  Be sure that office hoteling reservations are being made realistically rather than on the “in case I need it” frequently.  Worker satisfaction levels may be revealed to you through repeated use of negative body language and facial expressions. not everyone is outspoken about their happiness with the office hoteling and happy employees Adjust your initial plan as you identify improvements.
  8. Encourage Communication at All Levels: Develop policies and procedures so that you have accurate, easy to use ways to reach your staff as well as how and when an employee should or must contact you. Prevent feelings of worker disconnection with co-workers by making sure your team knows how to reach each other. Hold staff meetings with flexibility and technology in mind; include those working off-site through video teleconferencing, ensuring team members feel connected and respected by other members of the team.
  9. Keep Employee Work / Life Balance in Focus: Flexible workplaces, at least in most areas of business, means that the old strict 9-5 schedule must flex as well. Empower your team to schedule meetings at the convenience of their customer wherever possible. Communicate policies that allow responsible workers to accomplish tasks at times and in ways that allow that person to most productive. Because employees using flexible schedules allow them to establish and communicate those hours when they can best be contacted for voice or video communications. For example, those staff members with infants or caring for parents in their homes may request no phone calls before or after certain hours except in dire emergency situations. If you must make contact outside those hours, do so in a less intrusive way such as text or email.
  10. Remember Flexibility Means Changes to Your Own Work Methods: Many times business owners forget that they can be work flexibly, too. For example, using today’s technology electronic devices can coordinate when you and all the other required participants in a critical meeting can be available. You’ll be able to save time and money by performing allowing assistants freedom from such tasks that in the past have eaten up their productive time.

The workplace flexibility emerging from the office hoteling systems can provide that competitive edge your organization wants. Leased office space is a huge percentage of your company’s overhead expenses, so reduce expenses while increasing workers’ feelings of job satisfaction, value, trust and loyalty and simultaneously lower turnover rates and everyone, from your customers to vendors, top level executives to workers far down the organization flow chart, will benefit.

A properly planned office hoteling reservation system can save money and increase productivity. Contact us so we can get you started finding out how Office Hoteling might work for your company.

Find Office Space

By: James Osgood

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

An Office Rental Can Help Your Business Grow

No Comments »

There comes a time for every start up business where you need to make a jump from a hobby to a full fledged company.  This could be anything from expanding your marketing base to hiring more employees.  The biggest step you can take, however, is deciding to rent a small office space to help your company grow.  By getting a small office space, you will not only be putting your company in the position for further growth, but you will also be able to look more professional to potential clients.

Potential Growth

Getting a small office space for your business is the first step to larger growth overall.  It is taking something that you started and have been running out of your house and putting it into the real world where real business takes place.  Ultimately, it is the best for you and your company when you reach the right stage.

Looking More Professional

Nothing looks more professional than running your business out of a nice looking office space as opposed to your home.  Working from home has some advantages, but looking professional is definitely not one of them.  If you want to be percieved as a threat to other people in your line of business, getting a small office space is a great start.  Potentialy clients will certainly begin rolling in and your business will begin to thrive from it.

There are lots of affordable options for you to choose from: the standard conventional office rental, an executive suite or even a virtual office. Any of them would help your company in  looking more professional

In the end, getting a small office space for your company could be the shot in the arm needs to get to the next level.  Whether it is because you cannot maintain it out of your home anymore or because you want to look more professional to potential customers, getting an office space is the right move.  If you would like to look into some office spaces, please contact us.

Find Office Space

By: James Osgood

Executive Suites , Flexible Workspace , Home Office , Office Rental , Office Space , Virtual Office Space