Things to consider during the site selection process
When planning an office relocation, one of the first steps is to think about where you want your office to be located. The location of an office can boost employee retention and make a business more appealing, due to nearby amenities, access to public transportation, building features and parking accessibility. While it can be a fun element of office relocation, it’s important to add a little strategy to the process. Here are some things to think about:
Current and Future Employees:
Most business owners would prefer to retain their employees after a relocation, so factor these individuals into choosing the right part of town. Think about demographics, such as where the majority of employees commute from, and if the relocation will be more or less convenient for them on a daily basis. In addition, your location can expose you to a new and bigger talent pool, so think about what kind of employees you want to attract, and what is most important to them.
Accessibility is a key aspect. If you’re in an urban location, nearby public transportation will make it easy for employees to commute to and from work. Other conveniences include bike racks, parking and proximity to major highways.
Each commercial building comes equipped with its own set of amenities. Part of the site selection process is to prioritize which amenities are most important, and which are going to add value to the lease. Building amenities range from a 24-hour doorman, janitorial services, updated building systems, on-site parking, exercise facilities and shipping services. Another bonus element includes green or sustainable features, that could help reduce occupancy costs.
One of the largest building amenities that is oftentimes overlooked is having a reliable management company. A company that is on-site will share the building with tenants, making sure that building systems are functioning properly. Larger management companies will usually be able to accommodate expansion into nearby buildings without penalty. Read reviews, talk to other tenants and get educated on your landlord before signing on the dotted line.
While the building itself is a key aspect of site selection, it’s also important to factor into the equation the actual suite where your office will live. Start by thinking about expansion opportunities. If you know your business is going to grow over the next few years, make sure the building can accommodate future space needs. If the tenant next door is locked into a 10-year lease, then expansion is probably not an option. Other things to consider are noise, elevator access, restroom facilities and natural light.
The most critical aspect of site selection is the cost per square foot. Once you narrow down a few areas that could be beneficial for your business, consider what each building is going to cost on a monthly basis. Most buildings are segmented into luxury classes, of A, B and C. Class A buildings in Chicago’s Loop will have a much higher price point than a Class C building in River North. Figure out what amenities make the most sense, then think about the cost per square foot as it relates to your budget. If you’re set on Class A amenities, look at sublease options that will be available at a reduced price point.
We know it’s a lot to remember. Rightsize can help introduce you to the right people to aide in the planning and site selection process. After all, the first step in office furniture is having a place to put it!
Rightsize Facility Performance, headquartered in Chicago, IL, is a nationwide office interiors and facilities services firm serving corporate clients in transition. Founded in 2004, Rightsize employs an industry leading “Design/Furnish” approach to ensure seamless workplace transitions and is a single source for interior design, furniture procurement, delivery and installation, asset disposition, facility decommissioning and ancillary project services. Through its Office Furniture Center brand, which includes OfficeFurnitureCenter.com and a 200,000-square-foot showroom, Rightsize also provides a single source for quality workstations, desks, seating, filing, conference and reception furniture.