At Tenant Advisors, we posed the question : what does this generation value in a workplace?

We spoke with millennials that recently entered the workforce to discover what inspires and fuels their passion in competitive work environments.

Data Analyst: office size 75-100 people

 “ I work at a company that has outgrown its office space, currently we’re forced to have to maximize office space by sacrificing efficiency.

A lack of common space is detrimental, the only place you have is your desk area. If you need to take a phone call, we don’t really have anywhere in the office you could step aside to.

On the flip side – the office is in a great location. It’s very convenient to hop on the El and get to work in 30 minutes.

Our office has a great view of the city, we also have great facilities available in the building. Often times I’ll take advantage of the gym”

Inside Sales: office size 750-1,000 people

“ I think my favorite thing about my office is the layout and location. I am incredibly close to public transportation and am able to utilize the CTA to get to the office quickly, my commute is usually like 45 minutes.

My office has great amenities, they have a great common areas and a nice kitchen.

What I love about my office is the open collaborative, layout.

You can talk and interact among your coworkers, being able to get advice or ask for help from someone close by is really nice.

Something I think could be improved on is the aesthetic, I think the office could be better decorated. Don’t get me wrong, it looks really nice as is, but some fresh paint or new artwork would make a big impact in my opinion. Some more colors in the office would really brighten up the place and I would argue inspire creativity “

Financial Planner: office size 200-300 people

“ A lot of the work we do is collaborative and involves usually a whole team of people working together. Our meeting rooms are great, they are linked up with great technology so we can video chat among other offices really without having many problems.

Our clients depend on us to have a quick turn around so not having to worry about this or that going wrong, knowing we have reliable equipment allows us to better tackle the problem at hand.

Something I would improve on in my office would be to reconsider cubicles. Often times I find it acting as a barrier for productivity, often sending emails to people across the room.

I understand it’s how a lot of offices have been traditionally laid out, but this doesn’t necessarily mean this is the way it needs to be, ya know?”

There you have it, a first hand account from rising young professionals. For all your Chicagoland Office Space needs, Tenant Advisors will guide you every step of the way. Give us a call today at 847 778 0296, we look forward to hearing from you.

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Here are a few things to know about cubicles in today’s office space:

Distractions Are More Apparent With Cubicles

When you have a cubicle setup within the office, you’ll find that your employees tend to get distracted more easily. The constant foot traffic, conversations and office machinery noise will interrupt your employees in their daily work and make it less likely for them to concentrate. When you have individual office space and less cubicle-like structures throughout the office, you’ll find that your employees are more productive and happier while accomplishing their daily work.

Cramped Setups Often Cause Work Disruption

An employee who is comfortable at work is one who will get more done throughout the day, and do so with peace of mind. Cubicles often equate with cramped setups and leave your employees looking for extra room, not only for their belongings but to allow them to sit easily and comfortably. Consider taking down the confined walls of the cubicle or expanding the walls so that it is more like a single office space but not completely closed in like one. You’ll find that your employees work with greater ease, and a more positive attitude as well.

Cubicles Are Not The Best Health-Wise For Your Employees

Cubicles hinder mobility and, for this reason, may be one of a variety of contributing factors related to certain health conditions. Those who work in constricted spaces every day are less mobile, less active and may be more likely to be at risk of experiencing various health conditions, such as Type 2 diabetes, heart conditions and more. This sedentary work setup will make it easier for the employee to stay seated too long and not be as mobile as others who have their own office or are located in a more open setting where they are able to move around more often.

Making the Decision to Omit Cubicles

Many business owners like the aspect of cubicles because they allow the employer to fit a good amount of employees within the office space and provide each employee with a bit of their own private space, even though it’s not a completely closed-off office area. However, if possible, it may be wise to redesign the office in a cost-efficient manner to thereby eliminate the cubicles and produce a more employee-friendly setup.

Some employers may like to make all executive decisions without consulting their employees while others may be more open to employee input on office space layouts. If you fall within the latter category, provide your employees with a few possible office space layout options and ask them which office space layout works best for them and the reasons why this is so. By having this information, you may find that cubicles should be eliminated, or maintained, and know which layout will be best suitable for your employees and provide them with a seating area which allows them to be most productive and content.

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Consult a Real Estate Agent

You may be tempted to research properties alone. However, when looking for a new office space you should consider consulting a real estate agent. It can be hard and time consuming to find an inexpensive space that fits all of your business needs. An agent will be able to take on the burden of finding a space to fit your specific needs while you concentrate on your business and preparing for the eventual move. These professionals have plenty of experience and know exactly how and where to look in order to get you in your new space as soon as possible.

Consider the Location

It can be hard to find the perfect office space at the right price. However, one thing that is very important when searching for the perfect space is the location. You want to choose a location that is easy to get to for your client’s convenience. You also want to be in a safe and secure area. Another thing to consider is if there are amenities such as restaurants or coffee bars nearby for both clients and employees.

Determine the Perfect Size

When choosing a new office space, you may be tempted to select a very large office. However, you should consider the size of your business before decided on the size of the office and how soon you may need more space. If you only have a few employees, you should choose a smaller location. Still, you also don’t want to choose a too small space that will make employees and clients feel cramped, especially as you grow. You need to find the middle ground.

When choosing a new office space, you should first decide which properties are the most important for your business. Once you do so, you should contact a real estate professional who can assist you with finding the perfect office space for your needs.

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• Use Resources Wisely – When deciding how to budget the money going back into your business, consider cultural and environmental factors. This includes the space in which your employees spend most of their time. An office that has high satisfaction for employees can lower the turnover of your business. It can actually be a key factor when an employee is deciding to stay with, or leave, the company.

• Placement for Prosperity – Knowing where your office will be located in proximity to cafes, lunch places, markets and fun environments is also an important factor when choosing an office space. When your employees enjoy their surroundings, it makes it a productive environment within your office. It can lead to employees working harder during office hours to enjoy time in the local surroundings.

When youre looking for the office space for your business, be picky. Make sure that you take the time to analyze every detail of your new space to make your budget, and most importantly, your employees happy. Looking for tenant representation services? Check out TenantAdvisors.com for more information, today and find the perfect place in the Chicago area for your business.

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What Is a Subordination and Non-Disturbance Agreement?

The subordination and non-disturbance agreement is one which will be signed at the time of the lease signing. Basically, this agreement states that should the landlord default on their loan, the rights of the tenant are subordinate to the lender. The non-disturbance portion of the agreement safeguards the tenant by stating that, even though the lender forecloses on a property, the tenancy and tenant’s rights under the lease will go undisturbed. This agreement acts as a way to cover any issues which could possibly arise in the future with a property that is in some way involved with a lender.

Is This Form of Agreement Common?

In commercial office space leasing, you will often find a subordination and non-disturbance agreement present within the paperwork. With real estate transactions such as this one, it’s important to consider all possible instances which could occur in the future and ensure that there is an agreed-upon solution stated in writing should such an instance occur. Office space tenants should not be hesitant to sign a subordination and non-disturbance agreement as it will safeguard their tenancy in the future and ensure that their lease term will go undisturbed throughout the length thereof.

The Importance of Reading the Agreement Thoroughly and Ensuring It’s Part of the Lease Agreement

When presented with the subordination and non-disturbance agreement, office space tenants should read through the agreement thoroughly and make sure that their rights under the agreement are known. A tenant representative can help the office space tenant to understand this document and explain in further detail the different components of it. With an agreement of this type as part of the lease arrangement, the tenant knows exactly where they stand should the lender choose to foreclose. It’s also readily agreed to by the lender, as the subordination portion benefits their rights to the property, especially when there is a tenant in possession of the property under the lease term.

The subordination and non-disturbance agreement is just one more necessary piece of the leasing puzzle which helps to outline the rights of the parties involved in the real estate transaction. It will not be put into the motion in most instances, however, it is vital to have this type of strategy in place should a loan default and foreclosure become an issue during the life of the lease term. Tenants should be sure to inquire with their tenant representative about any questions they may have related to this type of agreement prior to signing it.

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1. Location – Considering a location that works for not only you, but your staff and clients can be a daunting task. However, when you look for a space that can please everyone, you will see infinite rewards! Look into the environment nearby like places to grab lunch or host client functions as well as possibly outdoor space or a place for easy parking.
2. Size – Nothing could truly be worse than an office that is too small or too large. A space that is too small can feel cramped and uncomfortable. It would be possible that clients do not like to visit such a tiny space that they cannot bring fellow colleagues or spend any time. Also, a space that is too large loses its personal feel. Allow for enough space that you can add a few more employees to let everyone know there is the possibility of growth, as well as room for lunches, meetings, social areas.

Yes, the cost of the property is important. However, it is also important to think of the comfort of your employees and clients. Take the time to tour office spaces and pick which will suit the needs of your business. Looking for Wheaton office space in Illinois? Check out TenantAdvisors.com to look at new spaces available in the Wheaton, IL area!

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1. Experts will Be Life Savers – Consider all the experts that you can find as fantastic resources to get the best possible value for the property. Experts can determine all the answers to the who, what, when, where and why of commercial real estate. A tenant advisor can also provide insight into the current state of the market and when it would be ideal to move in on a property.
2. Take a Tour – When considering a property, even a rental property, take a tour of the property. You never want to be unpleasantly surprised with your rental office space. Even though you can trust your broker, advisor, etc., you can still look into how the property will fit you and the goals you have for your team.
3. Strategize – Knowing your business strategy can also help to decide your best options when it comes to a real estate venture. Looking at what your business’s needs and wants are now, and also what they will be in the length of time that the lease in binding. Consider all aspects from growth to expectations that will be affected by you choice in real estate.

If you are looking for Chicago office space rentals, check out TenantAdvisors.com to get the latest updates on properties in the area!

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1. Strategy Development – When looking to either move your business or to renew your lease it is important to consider what your strategic plan is for the space. Experts are able to achieve maximum value and flexibility within the market to your best advantage.
2. Extensive Market Experience – A broker will not be playing “both sides of the fence” so to speak. So when looking for space options, an expert will be able to leverage their existing relationships with previous tenants, landlords and brokers to ensure lowest prices possible for your business.
3. Financial Analysis – A financial analysis will be performed by your tenant advisor to enable you to shop spaces and price ranges that fit your overall strategy. This budget planning can help with how much you pay overtime and to make sure that your investment is safe.

Consider all of the options when choosing tenant representation for your company. Are you looking for Chicago commercial tenant advisors? Check out TenantAdvisors.com for more information about finding your perfect commercial space in Chicago.

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Why The Landlord Wants This Lease Term Included

A commercial landlord likes to have this type of term included within the lease because it is a safeguard for them, and a monetary one at that, should an interested party want to lease a larger office space which could be available should the landlord move a current tenant into a different space. This type of lease term enables the landlord to rent out more of their office space and gain  more income simply from doing so.

Although this is a standard lease term, it is one which not all landlords are able to have included due to some resistance from office space tenants at the time of the lease signing. Should the landlord be successful in having the office space tenant agree to this term, the landlord will be responsible for all costs associated with the tenant relocation should the landlord opt to put this lease term into play.

Why The Tenant Doesn’t Want This Lease Term Included

Frequently, an office space tenant will not want this type of lease term included within their commercial office space lease. Those who lease office space, usually choose their office space of choice due to its location, size, view and more. After all, why would the tenant want to be moved around after they carefully select their office space? However, during the negotiations and prior to signing the lease, this term often comes up in conversation and has to be decided upon at that point.

How an Office Tenant Can Have This Term Excluded

Most commercial tenants would want this term excluded. Therefore, it’s important to review the lease terms thoroughly to make sure relocation provisions are not included or, if they are, this can be discussed during lease negotiations with the landlord prior to signing the lease. By removing the relocation provisions term from the lease, you will ensure that you will not have to move to another spot during the lease, simply because the landlord wants to make more money off of an additional tenant who may want to occupy your space. Should the landlord not agree to omitting the relocation provisions term, just be sure that it is as fair to you, the tenant, as possible and that you know what could happen in the future should the relocation provisions term be put into play.

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Why You Need Financial Analysis for Negotiations

Negotiations for commercial real estate leasing are time-consuming and involved in nature. You are not simply renting a home or an apartment, you are securing an office space lease which often carries with it a lengthy lease term. There is plenty to discuss during commercial leasing negotiations and large amounts of money at stake. Therefore, you want to be sure that the negotiations work well in your favor, the tenant. Financial analysis figures will help to show the landlord what you will be paying, outside of simply the base rental payments.

There are many other costs to consider with commercial office space leasing and you want to bring such costs to the attention of the landlord. This will also be a beneficial path to pursue, since you want to determine what your landlord will pay for and what you will be responsible for paying on your end of the tenancy. A financial analysis will lay it all out on the table and ensure that no stones are unturned during the leasing negotiation process.

Steps for Using Financial Analysis Figures During Negotiations

When a landlord is figuring out how much to charge a tenant for rent, they look at the effective rental rate. This rate takes into consideration factors such as market rental rates seen in comparable buildings, building operating costs and total transaction costs. With these three encompassing factors in mind, the landlord comes up with the rental rate. How do tenants go about reducing the rental rate asked for at negotiations? By completing a financial analysis of their own. By doing so, the tenant can show that certain aspects should be less, or more, in cost to get the negotiations to favor their side and, ultimately, result in a lesser amount on the overall rental rate.

To have your points duly noted, use a proper financial analysis program to come up with the figures. This will hold the most weight when you are in the negotiation phase with your landlord as you have concrete figures to show for your point of view. Also, have a tenant representative along with you for the negotiations. It’s important to be properly represented so that you are not going it alone in negotiations with the landlord. Lastly, be reasonable with your requests, especially if the office space is a highly coveted one and there is a bit of competition as to other prospective tenants wanting the same location as you. The landlord will be less likely to be flexible if there is another business owner out there who will pay the asking price for the office space lease.

Financial analysis is extremely important in commercial office space lease negotiations and you want to make sure you sit down at the negotiation table with financial analysis paperwork in hand and a tenant representative by your side.

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