Leasing a new office space comes with many decisions to be made, and one of them is what type of office to lease. A newly constructed space or a preexisting space? Both options are good for different reasons depending on your needs. To better understand a newly constructed office space, let’s discuss the pros and cons.
Design Input: The most notable pro of a newly constructed office is the input that comes along with it. You may be able to suggest design and layout ideas to get the most use possible out of the space at hand. If this is appealing, look for “build-to-suit” opportunities.
Energy Efficiency: This newly constructed space will likely contain the latest and most energy-efficient building materials, which means lower utility bills each month.
Tech-Friendliness: Technology will be easily accessible and implemented in the new space, more so than it would be in an older space. You’ll be able to plug in projectors, routers, and a variety of other gadgets, and have the ability to customize the space to meet your tech needs.
Compatibility: Most importantly, by finding a newly constructed office space, you are more likely to meet all of your needs and wants. Older office spaces have likely been changed to meet the needs of past tenants, but new construction is yours to customize. In addition, the fixtures and features included in the space are unlikely to need to be replaced in the coming years since they’ve been newly installed.
Price Tag: The biggest con of a newly constructed office can be seen in the price tag. The new space might be more expensive than older options on the market, but if that higher cost is within your budget, it’s well worth it.
Move-In Timeframe: Signing a lease without determining when the space will be ready for occupancy could lead to your business being temporarily “homeless.” Newly constructed spaces will take longer to move into if they’re still under construction at the time you view the property. That waiting period is a personal choice, and each business owner must determine whether it’s worth the wait.
Overall, a newly constructed office comes with many advantages. Before falling in love with the space and signing a lease, however, consider the items above.
Dunham Ridge, situated along Route 128 in Beverly, MA, features first-class offices, medical offices, and lab spaces in both existing buildings and buildings currently under construction. Property highlights include LED lighting, a masonry brick veneer exterior, and covered parking below the building or via a bridge to the garage.
Our team is also willing to construct and sell properties on a build-to-suit basis. The property is zoned for office, research, assembly, distribution, and industrial use.