April 09, 2019

Contemplating Office Space Growth Needs? Plan Ahead...

David Stockel

David Stockel
Senior Vice President/CBRE

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As an office leasing professional for CBRE- the world's largest commercial real estate services firm- we often meet with prospective clients to discuss their business objectives, and how their hiring/office space needs will correlate. Some of the best feedback we have received from clients is our advice to plan ahead....even more so than a business leader would assume. Giving an organization time to properly assess their business needs and align them with a dynamic commercial real estate market takes time. And time equals leverage. The more time we have to identify opportunities in the commercial real estate market, the better outcomes we can produce for our clients. There are several long lead time items, including but not limited to: surveying the market, physically touring potential relocation options, negotiating a term sheet, properly negotiating a lease document, building out (or modifying) office space, ordering furniture and orchestrating a move for an entire organization. 

Even if you do not think your company has a need to consider its office space needs of the future just yet, meeting with a professional to understand the landscape is free advice that should be taken seriously. Given that office space and associated overhead costs are often the #2 company expense after payroll, business leaders cannot afford to react. They should take a proactive approach to office space needs as the business scales.

Comments? You can contact me directly via my AdvisoryCloud profile.

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