Timing Your Search for Office Space
Many of the business people I talk with wonder when they should begin their search for office space. Is a year out too early? Is a month out too late? The answer is typically somewhere in between.
Lease negotiation delays, design, permitting and construction setbacks, are just some of the reasons why it is important to begin your search for office space early. The biggest risk in waiting too long to start your search is that you end up limiting your options.
I recommend the following timing for starting your office search:
|
Space Size in SF |
Timing |
|
1,000 - 2,000 |
2-3 Months |
|
2,001 - 5,000 |
3-6 Months |
|
5,001 - 10,000 |
4-9 Months |
|
10,001 - 15,000 |
6-10 Months |
|
15,001 – 25,000 |
8-12 Months |
|
25,001 + |
12+ Months |
Keep in mind, if you intend to have a facility custom-built, or if you anticipate significant remodeling of an existing location, additional time may be required. Conversely, if you are a small-user and think you might be able to lease space on an as-is basis, you may be able to complete the leasing process in a shorter timeframe.
Most importantly, the less time you leave for your office search, the more you may find yourself compromising. Hiring a commercial real estate broker early and having that broker looking for your ideal space with time to spare will almost always result in financial savings and an office that fits your needs to a T.
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