Foundation of Successful Office Space Transaction

July 9, 2018

I recently wrote about the importance of strategy when evaluating office space. In today’s post I’d like to address the significance of building a solid foundation to ensure success in larger office space transactions. In reality the concept applies to all office spaces although the benefit becomes magnified as the size increases. The foundation I’m alluding to is called many things including a space program, definition of requirements and needs analysis. Regardless of what you call it, this is a really important step that many companies seem to struggle with.

At a minimum a space program will project headcount and the number of private offices and workstations required along with common/shared spaces which quantifies the square footage required. While quantifying square footage is an important first step there are many other factors that should be considered, including: productivity of employees, collaborative space, private space, image, branding, location, amenities, budget, parking, furniture, technology and interior finish level. This all sounds pretty easy except for the fact that it takes time and focus of senior executives to create the vision and build consensus. Many times companies can be constrained by what they have done or not done in the past and it becomes difficult to look into the future. In addition, there seems to be a herd mentality with the latest space design and furniture system trends. While there are definitely aspects of current trends that should be evaluated and possibly incorporated into a space design, there is also a significant risk associated with the copycat mentality. The example that immediately comes to my mind is that many companies are now finding out that a full open plan can have detrimental effects on the morale and productivity of those employees who need to think and focus to get their work done.

We counsel our clients to really try and create a vision for the future of their company and workforce that will be supported by their office space. This step does take time, but when properly done ensures a space that everyone is excited about, has a positive impact on recruitment and retention and is cost effective. In addition, future costs and disruption associated with fixing problems are avoided.

In our experience the most successful office spaces that stand the test of time are achieved when this foundation is properly built.

Contact Jim, Sam or Ben to schedule a virtual or in-person meeting today.