Tag Archives: office space

Office Space Planning: What Your Space Says About Your Company

Your office space planning & design reveals a lot about your company–to both employees and customers. While connecting floors with a giant slide like Google may not be affordable or functional for your group, chances are you could use an upgrade. Excite your team with a new and improved design in your office space planning! Express your vision; start with these ideas when searching for your new digs.

  • Room to grow: It’s better to have a bit more space than not enough. A crowded office complex with a cramped connecting hallway not only feels claustrophobic, it stifles creativity. By giving your company extra room, you’re saying, “We are on the grow!”
  • Easy to access: You’ve got posh new headquarters but unfortunately, HQ is located a few hours away from home. Your key players have to spend a significant amount of time on the road–just to come to work. When selecting a new office space, consider the commute. Show your team some “love” by choosing an office space that isn’t at the opposite end of a gauntlet or at least implement a teleworking policy that would permit flexible commuting. Also, think about the parking situation. Your office setup needs to have an easy to locate entrance and exit that doesn’t require a hike to get there.
  • A clear flow of traffic: If you were a stranger visiting your office, would you be able to navigate the workflow areas without a map. It doesn’t take a rocket scientist to determine that visitors should be met by a reception area, not walk into the fulfillment warehouse. Still, there are more subtle traffic concerns to consider. For example, if your company has started the new year with a significant investment in public relations, shouldn’t this department be located closely to management? Also, think about walking a document through an average purchasing process. Bottom line–your flow of traffic decisions should be practical and make sense.
  • Achieve the right balance:When clients arrive at the business, they want to see success and a professional environment, not question where their money is going. Your office space design should encourage confidence, but not create a cause for concern.

Office space planning and design takes some care and time. Let us help you begin the search for an office you’ll be proud of! Contact Us to us today. We’d love to help!

Atlanta Office Space Market Overview

The most populous city in the state of Georgia, Atlanta originated as a railroad town in 1837, and has had a rich history ever since.  The city became a distributor of military supplies during the Civil War because of its railroad network.  This is the same reason that the capital was moved there in 1868, and is one of the reasons for its vital role during World War II.

In the 1960s, Atlanta became the major organizational center for the Civil Rights Movement.  It has since become one of the most multicultural cities in the U.S. due, in part, to the influx of new immigrants over the past ten years.

Atlanta is home to more than thirty colleges and universities.  The most prominent university being the Georgia Institute of Technology, with programs in engineering, computing, the sciences, and liberal arts.  Young, college-educated professionals have contributed to much of this decade’s demographic change in the city of Atlanta.

The increase in Atlanta’s diverse population has led to a unique cultural combination which is no longer strictly Southern.  Encompassing opera, ballet, music, and theater, Atlanta has become a national center for the arts.  This culture has contributed to making the city a hub for tourism – the seventh most visited city in the U.S.

Atlanta Economy

Atlanta’s economy is largely driven by corporate operations headquartered within the metropolitan area, making it the eighth largest economy in the nation.  The highly educated workforce in the city has drawn many Fortune 500 companies to headquarter here, including The Coca-Cola Company, AT&T Mobility, UPS, and Delta Airlines.

Atlanta Office Space

The majority of the metro Atlanta office space is located in Downtown Atlanta, with the second-largest concentration being in Midtown Atlanta.  Buckhead is the city’s uptown district, located north of Downtown, and the third-largest business district.  The current market conditions for these market areas is below.  For more information regarding office space in Atlanta, see also Atlanta Office Space sister site.

Sub-Market

Vacancy Rate

YTD Net Absorption

Avg. Rental Rate

Downtown

24%

119,927

$20.89

Midtown

21.9%

69,375

$24.76

Buckhead

18.4%

264,171

$25.52

Source: Atlanta Office Marketview, q3 2013; CBRE Global Research and Consulting

3 Important Considerations When Looking For Office Space For Rent

Having an office is essential for the vast majority of businesses. Searching for the right office space for rent is critical for those who are serious about their company and employees.

A few considerations to start:

  • The Location of the Office Building
  • The Security of  the Office and Office Building
  • The Amount of Space Required

The Office Location

This aspect is usually one of the most important factor to consider. With the constantly increasing traffic problems, easy access for clients and employees tops the list. Transportation options for your  employees also needs to be considered, if you want to retain them. Having a building that is near a bus stop or other means of transportation may be a good idea.

Amenities that are near the office building itself are also important in keeping a happy workforce. Locations that have a few restaurants and shops in the area is a good consideration.

Office Security

Having a secure building is more important than just keeping the documents and information that is in the building secure, it is also about the mindset of the employees who are working there. It is best if they are able to have peace of mind while working. Security in the building is a big part of this.

Installing a business security system is the way to go. Some may also consider having an armed guard in the building depending on the type of business that is housed there. Find out more on office space security.

Office Space Required

How much space is just right? That is the question that everyone interested in looking for office space for rent or lease. Needless to say, it is important to not take on too much or too little space. Try our office space calculator to help in determining how much office space you might need. it is not intended to be exact, but will give you a good estimate of how much you should be considering.

These are just  three important considerations when looking for just the right office space for rent or lease. Also, check out our office space planning checklist to all the considerations you need to take into account.

If you want to rent office space and get the best deal possible, avoid costly mistakes and have a hassle free experience. Engage the services of a qualified office space tenant Rep, like the ones we have at OfficeFinder. For more information, contact us.

A Downside to Downsizing Employee’s Office Space Allocation

We have all been reading for quite a while how many companies are downsizing their office space by making it more efficient; allocating office space to as low as 100 sf per person. The past recession made it very popular and was supported by employees… to help save their jobs. Now that the recession is nearing its end, is it still such a good idea? There are ways to do it the right way, like the Agile Workplace, but also some diametrically opposed forces in an office  tenant’s life when it comes to the amount of office space they’ll take; then, of course, there’s reality!

The Parking Dilemma

On one hand, you have a landlord who wants you to take more than less office space.  Then you have the furniture vendor that wants to sell you new furniture by telling you can add more people per square foot and take less space. Then there’s the reality of existing parking.  If the general parking ratios are 4-6/1000 sf leased in suburban markets and 1-3/1000 in downtown markets, then a tenant must evaluate the realities of achieving a higher parking ratio and the associated cost if they are heeding the furniture vendors prodding and work to achieve a 100 sf of office space per employee allocation.

The best approach is to design the space as efficiently as possible and then overlay existing parking need on existing parking availability.  Once you determine the delta, if any, a good office tenant representative can investigate all available parking to address the overage, to include negotiating a higher ratio in your existing lease.  Beware of planning an office space showing a much higher body count than parking ratios allow or the landlord may mandate a lower density layout to avoid any future parking showdown.

Find A Good Tenant Rep

By: James Osgood and Sarah & Craig Castor

Expansion Office Lease Clause – Know What You Are Getting

You are negotiating an office lease with the landlord for the office space you have decided you would like to lease or rent. Your letter of intent, outlining the business terms, includes  an expansion option to meet your growth expectations. Hopefully you have a good office tenant representative, like the ones we have at OfficeFinder, to help you through the process. In any case, you need to understand the different types of office lease expansion options available to you. It sounds simple, but it is not.

Was the agreement for a ROFN, ROFO, ROFR or Pocket Space? They are all expansion options, but mean very different things and will subject you to very different rights under your office lease.

ROFN – Right of First Negotiation gives the Tenant very few rights other than to negotiate a new deal with the landlord. You can be assured of the expansion capability so long as you are willing to agree to whatever the Landlord is asking. In other words, you pretty much have no rights.

ROFO – Right of First Offer or Opportunity. This also give the Tenant very few rights. It simply means that you get the opportunity to be first in line to negotiate with he landlord, but once again, you are still at the mercy of the landlord and the terms he wants.

ROFR – Right of First Refusal does provide the Tenant with rights. Specifically the right to match a bona fide offer to lease within a certain period of time. This is the best option so far. you get an opportunity to meet the terms that a 3rd party is wiling to pay for the space, guaranteeing that you will get a market deal of the expansion office space.

Pocket Space is space that the Tenant commits to take either after a period of time or when they start to use it and is generally included as a part of the original office space premises. This option is good for you only if you are sure you will be growing into the additional space within the time period specified or sooner, usually within a year or two, or when you start to use the space, whichever occurs first. This can be a good option for fast growing companies by providing them with the flexibility they need to expand.

Having a clear understanding of these various terms will help ensure you are getting the office space expansion option you think you are getting. These various types of expansion options vary market by market and vary based upon market conditions. Contact us to engage the services of an experienced office tenant rep who knows the market and what options are available. It won’t cost you anything, but will save you from making costly mistakes and also ensure you get the best deal possible.

Find A Good Tenant Rep

Upgrade Your Office Space Security With These 4 Items

Pad LocksIn an age where businesses face a greater risk from hackers and identity thieves than they do from their competition, digital security has become one of the must-haves of today’s business world. No less than 90 percent of businesses suffer from some type of online crime, according to a 2011 survey conducted by Ponemon Research and sponsored by Juniper Networks, making it nearly impossible to avoid by chance alone. Whether your office has dozens of employees or just one, protect your valuable assets and information with a few safeguards.

Shredders

Don’t think identity theft requires an Internet connection in order to drain a bank account or create bogus credit cards with your name. The Paperless Project reports the average office worker goes through no less than 10,000 pieces of paper each year, according to data from the U.S. Environmental Protection Agency. Any one of these pages can be used by an enterprising thief to gain access to company logins, passwords, sensitive information or finance. A shredder eliminates that gamble. Any given piece of paper put in the garbage can or recycle bin may come back to haunt you if not properly shredded.

Software Inspectors

The operating systems your computer runs likely have firewalls and failsafes that all but the most enterprising hackers cannot get through. The same cannot be said, unfortunately, about the applications your operating system runs. PC World reports the applications on a computer or mobile represent the primary target for hackers. In annual hacker challenges sponsored by software companies, the prizewinners who crack the security features do so through the apps instead of the operating system. Prevent your office computers from becoming a target by installing software detectors onto every system, updating you about security patches on older systems that have huge loopholes.

Install Security Systems

If a thief cannot breach your office computers and make away with valuable information, what is stopping them from breaching your office windows and making away with the computer itself? Protect yourself against thieves looking to steal physical material by using a wireless security system that alerts you to breaches and maintains round-the-clock monitoring. ADT offers some tips on securing your office with a security system.

Back Up Everything

Small Business Computing reports the largest threat to data does not come from hackers or identity thieves, but from accidental deletion, power failures and equipment malfunction. Data backup services give a business owner the security needed to maintain a failsafe in the event of inadvertant failure. Companies such as Microsoft create small business-oriented data backup and retrieval packages in order to provide affordable solutions for companies that need the minimum amount of bandwidth storage. What’s more, they offer cloud backup platforms so anyone linked into the company’s servers may access data from anywhere in the world with a Wi-Fi connection.

Biggest Mistakes Office Tenants Make When Looking to Rent Office Space

Over the years we have posted lots of information about the mistakes that office tenants most frequently make. A big one is thinking that the landlord’s listing agent will look out for their best interest when they’re looking for office space for rent or lease. They won’t. They have a responsibility to the office space manager or landlord to get them the best deal possible. They have a contract that says so. If a listing agent tells you otherwise, beware.

Price is not the only issue you need to be concerned about. The terms of the lease can have a huge impact on your cost and ability to avoid mistakes that will end up biting you in the rear.

So where does that leave the office space tenant looking for office space? Set up for another big mistake – not having your own agent who knows the market and the business as your office tenant representative. In the US and Canada it won’t cost you anything. In fact, it will save you money by ensuring you get the best deal possible and avoid costly mistakes. A good tenant rep, like the ones at OfficeFinder,  represents office tenants every day. They  negotiate leases for a living, while chances are you will only have to do so a half-dozen times in your business career. Who do you think will do a better job?

What we have seen over the past 10 years is a transition from business owners and managers who recognize the value of a good office tenant rep to many that think they can do it themselves and are suspect of real estate agents. This has come about from the plethora of information and listing sites on the Internet and too many unqualified agents claiming to be good office tenant reps.

What you see on the Internet related to available space is only the tip of the iceberg and much of it is simply out of date or wrong. There is no way to really determine the deal points of recent office rentals or leases from information on the Internet. The only way to really get good information is from someone who is in the business day-to-day.

So, if you want to rent office space and get the best deal possible, avoid costly mistakes and have a hassle free experience. Engage the services of a qualified tenant Rep.

More on Office Leasing | More on Office Rental

The 3 Biggest Mistakes Tenants Make (SlideShare)

What To Look For In Your Office Rental

When looking at an office rental space, it is clearly important to consider what kind of place you really want to have. It has to be a good balance of needs and wants in the space in order to make it perfect. The business owner has to consider things like how much money he or she has to spend on an office rental, but it is more than that. Other factors such as space requirements and employee morale have to be weighed in as well.

In an entrepreneur.com article, author Christopher Hann quoting a man named Bill Armstrong, treasurer of the National Association of Realtors, when he says:

“If you lease more space than your business requires, your monthly rent could consume an excessive chunk of your precious resources. If you’re a startup, you’ll want to account for future growth. But how much? Be thrifty.”

That speaks to the point that one must think about how much office space they honestly need to rent in order to keep their operations running.

Once a reasonably priced office rental space has been located, it is important to lock in what kind of layout and design you are going to approach for your office. Some of the existing layout may well work for you to get certain things accomplished, but it may not work out exactly as you had hoped in the long run. It is important to consider all of these factors and think about if this is something that you want to stick with.

An office rental is important to every business owner because this is the centralized location where one will be doing all of their work. It is where workers will come in for perhaps years to come. Give it plenty of thought and find the place that is going to fit your needs just right.

It makes sense to get assistance from a professional office space tenant representative like the ones we have at OfficeFinder. It is a free service to you. Contact us about any questions you may have about how to find the perfect office space.

Prince George’s County Office Space Market Conditions

Prince George’s County, Maryland, is named after Prince George of Denmark.  Nestled in the Atlantic coastal plain, its landscape is a beautiful mix of gently rolling hills and valleys.  The county is part of the Baltimore-Washington, D.C. Metropolitan area, and is home to the Joint Base Andrews, the Census Bureau, and NASA’s Goddard Space Flight Center.  Historically, the county was once inhabited by dinosaurs in the Cretaceous Era, whose fossils are now preserved in a 7.5 acre park in Laurel.

Prince George’s County economy has always been predominantly agricultural, with tobacco being the main crop through the 1900’s.  With the end of the Civil War, the slaves that worked the tobacco fields were freed, but the economy was still majorly supported by the tobacco farms.  The 70’s and 80’s County leaders sought to expand the economy through industry and commercial enterprise.  Despite these economic changes, Prince George’s County still retains its rural character and agricultural lifestyle.

Prince George’s County Central includes the area between Bowie and Landover, and through the south.  Central county has a diverse employment base, fueled by Andrews Air Force Base.  Limited demand and tenants vacating space contributed to this submarkets’ sluggish office market conditions during the 2nd quarter of 2013.  The Central county submarket had an overall vacancy rate of 18.1% in Q2 2013.  Average asking rents for Class A office space are at $22.67 per square foot.  Class B office space is slightly lower, at $19.95 per square foot.  The overall outlook for this sub-market remains subdued as tenants are reluctant to take space.

Prince George’s County North encompasses Laurel, Greenbelt, College Park, and Beltsville/Calverton.  The NASA Goddard Space Center is the major contributor to this area’s economy.  As in Central county, the North county sub-market has been experiencing a slowdown in the office sector.  In mid 2013, net absorption was at -104,000 square feet, with the overall vacancy rate at 21.5%.  Average asking rents for office space in Prince Georges County North are at $22.40 per square foot for Class A space, and $19.90 per square foot for Class B.

Despite the current lull in the office space market for Prince George’s County, overall, the conditions are expected to improve, positioning the county for long-term growth.

Find Office Space in Prince George’s County North or Prince George’s County South