If you’re looking to enhance your office space, there are a few options you can explore. These include reconfiguration, redesign, and renovation.
When renovating your office space, take into account how the changes will impact you and your team. Depending on the project, these renovations could cost a considerable amount of money.
In an ever-evolving market, office tenants are always on the lookout for ways to enhance their workplaces. They want modern offices that will keep them productive and motivated, as well as attract new talent.
According to WorkPlaceUSA, a design firm based in Dallas, two key office improvement trends are shaping the future of commercial real estate: flexibility and sustainability.
Jeff Hickok, director of sales and marketing at WorkPlaceUSA, notes that many tenants are now searching for office space that can be easily reconfigured into various suite sizes and floor plans. This makes the most efficient use of the property, keeping costs low while increasing productivity levels for tenants.
Improvements like this can be expensive, so it’s essential to consult a reliable commercial real estate agent for guidance. Some owners may take on the task themselves, while others require the expertise of several specialists to make things work smoothly.
Another significant cost factor is maintenance. While tenants may be responsible for keeping their offices in good condition, landlords usually oversee the upkeep of common areas and structural elements within a building.
It can be easy to overlook this aspect of leasing, but if something goes awry with your office, you could face a major inconvenience. In such cases, you might be left with no choice but to fix the issue yourself or pay for repairs out of pocket.
If your office building is old, maintaining and repairing its interior can be expensive. This includes things like painting and carpeting – something tenants often have to bear the cost of.
Though these improvements can be costly, they’re usually worthwhile if it keeps your employees contented and productive. A clean environment helps retain current staff members and attract new talent alike; green features also increase the energy efficiency of an office space and contribute to its environmental sustainability.
The most expensive office buildings are those situated in central business districts (CBDs). These high-rise properties usually reach 16 stories or higher and command higher rents to cover increased construction and land costs.
Your most costly retail space may actually be a hindrance instead of an asset. A knowledgeable scout can maximize your commercial real estate dollars by looking past the big boxes to numerous small and medium sized properties that offer just enough traffic for your business needs. While you may need to put in some extra time and effort to find the ideal fit, the rewards will be tremendous.