5 Steps to Take: Looking for a New Office Space
Searching for a new office space in Atlanta can be a daunting task. But, if you have the right information and team on your side, it doesn’t have to be. Whether you’re in the market for a commercial lease or you plan to purchase new office space in Atlanta, the following steps will help you effectively navigate the process.
1) Consider your needs.
The most important thing you can do when you’re ready to look for new office space in Atlanta is to start early. Begin thinking about your needs at least six months before your current lease expires or your planned move-in date.
When it comes to your needs, the first consideration you should take into account is the area you’d like your new workspace to be located in. For this, you should think about your clients, staff and price range. Is it important for your business to be located close to your client base? If you’re looking to attract customers, look at higher foot traffic areas near coffee shops and restaurants. Or, if you’re simply seeking office space, look at the most fitting neighborhood for your company. In Atlanta, we’d ask, “Are you an ITP (inside the Perimeter) or OTP (outside the Perimeter) business?
Next, determine how much space you will need to accommodate your work environment. Take into account the operations of your business and/or potential for growing staff. You’ll want to be sure you have enough space for your needs now, as well as how your needs may change over the course of a lease term. Think about the type of work you do. Do you hold a lot of meetings, make many phone calls and need a number of conference rooms or private workspaces? By considering all your business’ needs, you can avoid paying for unused space.
Armed with this information and insights, you should prepare a list of specific features you are seeking and/or questions you may have for the broker/landlord once you begin touring sites of new office spaces in Atlanta.
2) Determine your budget.
As mentioned, you’ll need to determine your price range before looking at listings for your new office space in Atlanta. The last thing you want to do is fall in love with a property you can’t afford.
To establish your budget, you’ll want to factor in the following:
• Property price (per square foot)
• Moving expenses
• Utilities (gas and electric if they’re not included in the lease)
• Internet and phone (including initial installation fees)
• Ongoing maintenance and cleaning costs (if they’re not included)
In many cases, you can request an estimate for utility costs from the landlord and receive quotes from other providers.
3) Work with a broker providing Tenant Representation.
Arranging to lease or purchase an office space on your own is certainly doable. But, it can quickly become very time-consuming and overwhelming for many business owners. By working with a broker, you can more easily locate listings based on your specific search criteria. An experienced broker knows the area well and can provide you with advice on the best places to lease or buy. They also may be able to find available commercial spaces before they’re officially put on the market. And, most importantly Tenant Representation means, they’ll represent you when you’re ready to sign by facilitating the leasing/buying process to negotiate the best deal for you.
4) Tour properties.
Once you’ve identified several properties of interest (and within your price range), you’ll want to schedule tours to help you narrow down your search. Be sure to bring along your list of specific features and/or questions. And, while touring, plan to make a list of the pros and cons of each space. Consider how close the property is to public transportation, safety/crime rates and the overall quality of the building. Know your needs and think about your deal breakers in advance so you can more easily make a selection. See Property Listings Here.
5) Sign the lease.
Signing a lease is a major decision in bringing you one step closer to your new office space in Atlanta. The biggest piece of advice we can offer is to know the terms of your lease/property agreement. You’ll need to think through how they may affect you/your business before you sign the dotted line. Some areas to pay special attention to include:
• Maintenance, cleaning and trash removal
• Repairs (what are you or the landlord responsible for)
• Right to break lease (what circumstances give the landlord the right to ask you to move out)
• Liability (any property issues that may affect your business)
For a lease, it’s best to negotiate a limit on rent increases if you plan to stay in the area a while. Is the lease rate net or gross and is there a relocation/expansion clause in your agreement in case your business grows?
All of these factors and more can either be the best- or worst-case scenario for your business. Hiring a broker to represent your interests could help you secure a solid deal.
Selecting a new office space in Atlanta is a big step for any business in not only finding a property that meets your business’ evolving needs; but, it also establishes the face of your business by providing your clients/customers with a physical location to visit. Follow these steps and you’ll be more prepared to find your new, ideal workspace throughout the entire Atlanta metro area. Let Us Help You Find Your Perfect Property Today!