Posted by on December 18, 2018

If your company has outgrown working from home or in shared spaces, it’s time to upgrade to a new office. This is an exciting step for any company, but knowing what to consider as you begin the leasing process is vital to the continued success of your business. Space, cost, company growth, and many other factors need to be considered.

Company Growth

When choosing an office space, you should consider what your five-year plan is as a company. That means having a rough idea of how many employees you will have, how much storage space you will need, and other variables of growth. Try to keep realistic goals for growth so you don’t bite off more than you can chew with a leased space, but don’t settle for a space you’ll outgrow within a year or two.  Some property owners offer an option to increase space mid-lease with no penalty—ask about this possibility.

Stick to Your Budget

It can be easy to get tempted by luxurious office spaces that seem only a little out of your budget, but that “little out of your budget” amount will rapidly grow. Be sure to consider all other costs your company is responsible for in addition to the lease. Utilities, parking, fees for snow removal, phone, and internet are just a few things to keep in mind. Be sure you have a clear understanding of what’s included in the lease and what will be an additional cost before signing. The space you choose should be well within budget, preferably with some room for unexpected costs that may arise.

Location is Everything

As you view office spaces for lease, be sure you keep location in mind. Discuss with your employees what location they would be willing to travel to or be prepared for relocation costs. If you’re looking to hire more employees, it’s best to get a space in an area with a large applicant pool to choose from. The happiness of your employees and customers is important. Stakeholders should be able to walk into the leased office and be impressed by the space. The same can be said for potential customers and new employees.

Choose an office space you can be proud of. At Dunham Ridge, we have a variety of offices to choose from, all with their own unique qualities. Whether you need a first-class office, medical office, or lab, we can provide a custom space to meet your requirements.

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