I Need New Office Space. What's Next?

Making an office move can be an intricate, time-consuming process, and there are a lot of factors to consider when signing a long-term office lease. Will the space meet your current and future needs? What's the location like? Is it in your price range? Will the office vibe align well with the company culture?

You may not know what to expect when searching for a new office or where to begin. Here, we walk you through the steps of finding your next location.

Step 1: Start Your Search Process Early

You should give yourself a minimum of six months to plan and make your new office transition. Of course, if you have a smaller team, the process can move along more rapidly, while bigger spaces to accommodate more employees may take longer.

Why so long, you wonder? When it comes to real estate, sometimes deals fall through. Depending on the market in your area, there might be more competition for fewer openings, which can cause negotiations to drag on longer. Or, you might be overwhelmed with so many options that you have to build in the time to explore them all. Then, even after you commit to a space, renovations and set up could require a few weeks or more.

Step 2: Determine Your Needs and Hire a Professional to Help with Your Search

Moving to a new office is an opportunity to choose the perfect space for your growing company. Start by thinking about your current workplace, and what you like and don't like about it. Then, create a wishlist for your new office, including your must-haves and your like-to-haves.

Once you have a general idea, you can estimate your preferred square footage. Having that number will help you narrow down listings once you begin researching your options.

Once you know what you are looking for, working with a commercial broker is the smartest way to fast-track the process of finding a new office space. They not only know the market well, they can also help you pinpoint offices that match the items on your checklist. In addition, a good listing broker can identify and alert you to property concerns you might not have thought of on your own.

Step 3: Start Looking at Properties

Location is important for your next space because you want to be in an area that is conducive to the kind of business you operate, especially if clients visit your offices. You want to make it convenient and accessible for your employees as well. How will the new location impact their commute? Is it close to public transportation? Is there parking? Is the surrounding neighborhood safe?

As for the actual inside of the office, you may end up looking at big empty rooms, or ones that are partially built out from previous tenants. This is where your prior assessment work comes in handy, because you'll have your square footage and layout plans already sketched out so you can envision how they'll fit each space.

Step 4: Weigh Your Options

If you find a few office spaces that have potential, you can further narrow down your office leasing options by requesting proposals from the building owners.

Try your best not to choose based on cost or convenience alone—think big picture. Which space is best if money was no object? How much investment will each office space require before its move-in ready?

If you're struggling to find potential properties, you might have to broaden your search a bit. Perhaps you can expand your target area. Or, if you're having trouble envisioning the potential of an outdated or empty space, bring along someone who has a good eye for design for another opinion.

Step 5: Once You Think You've Found a Match, Enlist Additional Help

Between the negotiation process and office leasing contracts, commercial real estate deals can be tricky and can take a couple of months to finalize. Hire a commercial real estate attorney to walk you through the process and understand the lease options available to you.

Then when you're ready, you will submit a Letter of Intent and begin negotiating. A good broker, although they work for the building owner, should help guide the negotiations. Having an attorney or tenant representative in your corner will ensure there are lease protections built into your office leasing contract.

Finally, work with a reputable property inspection company to confirm that the space is safe and meets your standards before signing the lease.

Step 6: Get to Work on Your New Space

Once you've entered into an office leasing contract, it's set-up time. Depending on how much work is needed, this step can take a couple of weeks to a few months.

If you're doing more than painting and setting up furniture, you might wish to hire an architect or use software to help you plan out where everything will go, especially if you're putting up walls and building out rooms.