Defining the Requirement, a Worksheet
The company’s Internal Team, as described in the previous post, defines the space requirements. This is a list of criteria for evaluating space to share with the company’s real estate representative. This criteria, listed below, defines the parameters for the market search for the company’s next location. The more firmly these details are established, and the more time given to the search, the better are the company’s chances of finding that ideal space efficiently. It will help your broker to focus on properties your company actually wants.
Office Space Criteria
- Lease expiration date
- Current space location
- Current square footage
- Current rent and options of present lease
- Length of time at present address
- Future square footage needs
- Future term length sought
- Reasons for considering relocation
- Move-in date
- Amenities sought
- Number of employees involved
- Hours of operation
- Parking requirements
- Company paid or employee paid parking
- Rent budget
- Construction preferences, new or existing
- Special transportation requirements
- Special utilities or technical requirements
- Preference for finished or unfinished space
- Space allocations for reception, common areas for manufactured office systems, work areas, private offices, conference rooms, and storage areas
- Geographic preferences
- List of members of internal team and their responsibilities
- Tour and inspection availability
- Equity requirements
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WHPounds Commercial Real Estate, LLC is a commercial real estate agency located in Southern New Jersey. Founded and owned by William H. Pounds, II, its Broker-of-Record, the company has assisted in the leasing, purchasing, or sale of over 15 million square feet in Southern New Jersey. As a boutique agency, WHPounds provides a range of services, including asset management under WHPounds CRE Management, LLC.
Disclaimer: The information herein contained is in no way meant to substitute for competent, professional real estate and legal services and/or advice for the commercial or residential real estate market in your area, which may or may not conduct commercial or residential real estate transactions in a way similarly described in this blog series. WHPounds Commercial Real Estate, LLC and/or its agents is/are in no way responsible for poor decisions made or the making of poor decisions, which may or may not be based on the information contained within this blog series. WHPounds Commercial Real Estate LLC and/or its agents strongly recommend the employment of proper, competent, and professional real estate and legal services for the leasing or purchasing of a commercial or residential property.
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