Lease Your Office

Market Insights

Lease Your Office

Oct 27, 2017

Lease Your Office

So let’s get this office up and running. Your company is busy helping people, pushing progress and now it’s time to make a move. The first few steps we’re going to need to think through are:

Needs

  • What is our current and projected headcount?
  • What is our current and projected space layout?
  • What is your ideal size?
  • What amenities are most important?
  • What building image and type fits our company culture?
  • What budget do we have in mind?

Checklists

  • Prepare financial statements and/or tax returns
  • Prepare additional costs associated with move in and setup

Facility Search

  • Where would we like this office to be located?
  • Where are our employees coming from?
  • What are our parking needs? Surface free parking? Paid structure parking?
  • What length of lease term?

Deal Negotiation

  • What should we offer the landlord?
  • Who pays for tenant improvements?
  • Will the tenant improvement allowance cover our intended build out?
  • What changes are needed to make the lease document agreeable to both parties?

Permitting & Construction

  • Finalize space planning
  • Plan and schedule infrastructure and security
  • Construction of tenant improvements
  • Install furniture, fixtures, and equipment
  • Move all personal effects

Additional Considerations

  • Subleasing – Finding a space to sublease can be a golden ticket to a below market deal and it could be a total nightmare with a defunct sublessor. When you choose to take on a sublease space you must remember that there are now three parties involved. Three consents. Three attorneys. Three approvals. Make sure you do your homework on both parties.
  • Warehousing – Perhaps you take additional space with room for growth and then sublease some of it out as plug and play space until you need it. This might be too risky or it might line up just right to allow for the future growth space at a time of your choosing without relocating again.

And this is only 10% of the tasks involved in leasing your office. We help people plan their office leases every day and can share our detailed checklist. Contact Justin at jbsmith@lee-associates.com, 949-790-3151 to learn more.