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FAQ: Time To Find A New Office? Now What?

We’re glad you asked! In all seriousness, this is the most basic, and yet, most important decision you’ll make when it comes to your corporate real estate strategy. Whether or not to move is generally and usually based on one primary factor: Does my current situation fit my needs, or is the office too big/ too small for my business (now and for the remainder of my current lease)?
Let’s assume you’ve decided it’s time to move. Now what? More precisely, where? Think through this carefully. You’ll, of course, need to start by assessing your company’s biggest needs (space per employee, likely growth over the next few years, etc.) to determine what that new office should look like . Don’t forget, however, to consider a few often-overlooked factors as you seek your new location or locations:

How will a new location affect your staff’s quality of life? Does most of your team live near the new office site? Don’t underestimate the impact of a long or difficult commute on workplace morale and work-life balance, which is becoming a huge factor when it comes to employee retention. Similarly, does the new location offer amenities your employees will enjoy such as dining or shopping? If it’s in a large urban area, is your office in close proximity to public transportation employees would likely use?

Does the location optimize the way you do business? Where is the best place to maximize your client contact? For example, a public affairs or lobbying firm probably prefers to be near the capital, rather than piling on transportation costs shuttling in from a distant suburban office park. Do you meet with and entertain clients frequently? If so, does the office location have ample parking and access to local hotels and restaurants? Is yours the kind of business that generates walk-in business? If so, is it near to foot or other kinds of traffic?

It can be easy to fall in love with a potential office location because of price or other positive factors. But it’s important to remember that this will be the home of your business for several years. Be sure to put that into the mix as you make a decision, too.

The Stone Group

12912 Hill Country Blvd,

Building F, Ste. 201,

Austin, TX 78738

Phone. 512-732-8700

 

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