Finding a commercial office space for lease isn’t an easy task. Unlike residential properties, there’s no one-stop shop like Zillow or MLS for commercial real estate properties. While tools like Craigslist and LoopNet can ease your search, they are difficult to use and often not updated. However, this doesn’t mean you can’t find an ideal commercial office space to rent. The following tips can ease your search.

1. Work with a Commercial Real Estate Brokerage

Hiring a commercial real estate broker is certainly the easiest way to find a perfect commercial space. Commercial brokers are dedicated to connecting clients to available commercial space. Commercial real estate brokers also provide expert advice and recommendations. Since commercial properties don’t have a centralized listing database, local brokers, like York Property Company, can help you find available space in the market.

Brokers also help negotiate the lease, rental rates, rent abatement periods, build-out allowances, and more. The best part about hiring a broker is you incur nothing. Like real estate agents, the property owner pays the brokerage fee.

2. Evaluate Your Office Space Needs

With a broker available, the next step is evaluating your commercial office space needs. This essentially requires that you determine your business and employee needs. Consider the following when evaluating your office space needs:

• The number of employees – Each employee can occupy 75 to 150 square feet. Department heads and managers need 150 to 400 square feet.
  
  
• Your preferred type of workspace – Your business may benefit from a specific interior layout. You should choose between open, shared, and closed office layouts.
  
  
• Do you need conference rooms, a kitchen, a break room, or a copy room in your office?

3. Estimate Your Budget

You should start by researching the average rental costs per square foot in your locality to estimate the rental budget. Multiply the average rental cost by the total square feet enough to accommodate your business needs. You should also factor in maintenance and utility costs.

While the average rental costs per square foot vary, office spaces cost between $1.74 and $1.92 per square foot in Dallas and Atlanta. High-end cities like New York and San Francisco cost between $5.43 and $6.16 per square foot. Rental costs are also influenced by the class of the building and its location.

Your budget should include maintenance and utility costs. You should pay for common areas maintenance costs like the elevator, hallways, and lobby. Most landlords charge 15 to 35% of the total lease amount.

4. Tour Available Commercial Office Space for Lease

You should narrow down your options and plan a physical tour of office spaces that meet your criteria. You should take note of the following in all locations:

• Surrounding area – The surrounding area is important for employees and business guests. Ensure the neighborhood suits your business model.
  
  
• Ease of access – This is also important for employees and guests. Access to the space should be convenient for everyone, including the disabled.
  
  
• Age of the building – Don’t lease office space with old or outdated elevators, heating and cooling systems, plumbing, and other important features.
  
  
• Security features – Security is important for your office equipment and employees.

Endnote

Choosing a commercial office space is a crucial business decision. You should find an office space that accommodates your current and future business needs. The office space should also be appealing to employees and guests.