Top 3 Things To Consider For Your Office Space

November 11, 2019

We have represented many companies in many industries over the years with strategy and negotiation for their corporate office space. From a macro perspective the #1 cost that most employers incur is around their people and #2 is around their office space. There are a multitude of significant issues to consider when working on an office space project and I believe the 3 that have the most impact to a company’s success are:

  • Overall Cost Control
  • Flexibility
  • Recruitment and Retention of Talent

Real estate cycles ebb and flow and to some degree the order of priority may change. For example, in our current market recruitment and retention of talent may be #1, flexibility may be #2 and overall cost control may be #3. In a down market overall cost control may be #1, flexibility may be #2 and recruitment and retention of talent may be #3.

The location, quality of building and space design can have a major impact on recruitment and retention. Flexibility to handle growth, M&A or contraction is always important and often overlooked or not negotiated very well. Overall cost control should be important given the significance of the impact on profitability.

I will focus in more detail on each one of these in future posts.

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