Selecting the Right Space

Posted by: Garrett K.

It’s not just about location. Below are the common factors that influence a business's decision about where to locate:

1.    Location, Location, Location: Not only a real estate adage, but a fact of life.
The location is usually described as the either the biggest benefit or biggest negative.
This includes both the neighborhood as well as the building’s location within the neighborhood.

2.    Commute Patterns: Take a preliminary survey of your company’s thoughts on their current commutes.
Employees may consider quitting if the new commute increases significantly in time, or expense.

3.    Amenities: What restaurants and coffee shops are available nearby? Being in an isolated office park can be a
very bad situation for the comfort of employees. At times in cannot be helped, but being in close proximity to the
amenities employees use during their lunch break can be a huge recruiting and productivity advantage.

4    Safety:  What is the neighborhood like late in the evening? Have there been break-ins
in the neighborhood recently? Would an employee feel comfortable working in the building alone, or walking
to their car or public transportation after working late on a project? All of these issues should be considered
when considering your next location.

5.    Layout/Quality of the Space: Is the space in good condition?  Have the buidling systems been well maintained?  Is it the optimal fit for your business?  All of these things will effect your opinion of the space long term.

6.    Image of the Building: The question depends on how you are trying to present yourself to your clients
and potential employees. If you are a law firm that caters to a large number of non-corporate clients, it might
not make sense to have the top floor of the nicest building in town. However; if you are the high powered corporate
firm, it might be absolutely necessary to display that image. The location, layout, and feel of your building and space
will leave an impression on your visitors and should be considered in your decision making process.

7.    Parking/Public Transportation: The proximity to public transportation and affordable and convenient parking
are extremely important.  The more transportation options the better.

8.    Recruiting: Will your location and building aid or hamper you in your recruiting efforts for top talent.
How will the location affect current employees?

9.    Expansion: Will your location allow for easy expansion? Is there space available nearby that can work if
there is not space within your building?

10.    Building Ownership & Maintenance: Is the ownership local? Is the HVAC system consistently broken? Talk to
the other tenants. Your landlord’s involvement and attitude and responsiveness towards tenant repairs should be a
critical element of your building decision.
 

Last updated: 10.30.2008 11:00 AM