How Much Office Space Do I Need?

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Searching for commercial offices for lease is a time consuming task for many. For those who have gone through this procedure before, it may not be as tedious. However, if you are new to the office space leasing routine, you may be overwhelmed with how many things you need to do to get the perfect office space. Although deciding on the location is a prime consideration, you must also seriously consider how much space you will need for your next office lease. In order to determine the right amount of office space, the following will help.

Type of Business

The industry in which your business lies will often tell a lot about how much space you require when you lease office space. Certain businesses need a specific minimum amount of space in order to operate properly. The industry standards are ones you can look to in order to determine how much office space is necessary in your case.

Number of Employees

Another consideration to keep in mind when figuring out how much office space you will need is to factor in the number of employees. As you might imagine, if you are a small company with few employees, you may not need too large an office space. On the other hand, if your company employs hundreds of individuals, the office space amount will be greater.

Office Equipment

Also consider the office equipment which your business uses. Many business owners forget about accommodating their large office equipment such as printers, fax machines and more. You want to have ample space for all of your office equipment and not have to find spots to fit it in at the last minute.

Private Offices or Shared Office Space

Whether you want private offices or shared office space will also help you to figure out how much office space you need. You should also determine if you want all of the private offices to be similar sizes or if some of the corporate officers or company heads will get larger offices and then have smaller offices reserved for other employees. Shared office space may help you to limit the overall amount of office space that you need, especially if you share amenities with others in the corporate office building. For example, if you share a reception area and a conference room with other companies in the general office building, this may limit the amount of space you need for your individual office space lease.

Calculating the right amount of office space is essential in order to acquire the best possible office. Not only will choosing the perfect amount of space for your leased office premises accommodate your company in the best manner but it will also save you money in the long run. You don’t want to lease more office space than you need. Doing so can cost quite a bit of money, money which your company simply can’t stand to lose. Determining the right amount of office space will ensure that you get the office your company needs for the price it can afford.

Commercial Office Space And The Changing Office Trends

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Commercial office trends are seeing some drastic changes these days. Not only are companies as a whole undergoing transformations but the individuals who work for such companies are taking it upon themselves to pursue new varieties of working environments. The changing office trends are so prominent that it can be stated there will be major implications with regard to future office demand.

More Telecommuting Means Demand for Smaller Size Office Space Increases

In the past, telecommuting existed but was not as popular or readily available as it is today. More and more individuals are taking that step to turn rooms in their homes into home offices. There are many more ways to telecommute in a wide array of commercial industries. When more people select telecommuting as their employment option, this means that the demand for smaller sized office space increases.

As companies see their workforce working from home more often, they don’t need the large offices and corporate monstrosities which were once so necessary. This means that more commercial office space tenants will be seeking out small office space as opposed to large office buildings to ensure that they are not spending unnecessary cost on too large of an office building. In addition, competition will often be fierce when it comes to securing smaller office space as the demand for smaller office space increases.

Shared Office Space Amenities Increase in Demand

Shared office space is another office trend which is making an appearance in various industries. Shared office space is where commercial office tenants have their own set office area but share business necessities such as a receptionist, mail room, conference room and more. The existence of shared office space means that the commercial office space tenants will not have to pay extra to have their own individual amenities nor will they have to make extra space for a receptionist, for example. Shared office space is quite popular these days as it provides the necessary amenities to office space tenants and allows the tenants to save money in the long run.

Large Office Space Demand May Decrease

As the need for smaller office space increases, the need for large buildings and offices will lessen. The rationale behind this is simply that a business owner doesn’t want to pay for space which they don’t need and won’t use. Business tenants find it more practical to lease the right amount of office space and not acquire square footage which won’t be put to good use. This may leave large office space owners looking high and low for business tenants who still need a good amount of space for their company and their employees.

Although the aforementioned trends may seem like a serious concern, there will still be large companies with in-house employees which need the large office space for their company operations. However, there is certain to be a transitioning movement in the office space leasing area whereby smaller office space may be higher in demand in the coming years as opposed to the demand of the past.

Commercial Office Space For Chicago Startups

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Chicago startups have a lot on their plates when it comes to getting their businesses up and running. These new business owners have to think about staffing their entity, getting their products and services in order and compiling a client base. Another extremely important factor for Chicago startup business owners to think about is where they are going to lease office space. Leasing office space is a wise choice for startups in Chicago as they can pay as they go and have the option of moving should they find that the location they select does not suit their needs. With that said, there are two locations in Chicago in particular which are popular with Chicago startups.

River North

River North is a popular neighborhood for Chicago startups to choose when they are eager to lease office space. This area is located north of the Chicago River and in close proximity to Michigan Avenue and the Loop. Retail shops, galleries and design firms are all over the River North area. The eclectic atmosphere of River North provides a great way for Chicago startups to not only gain clients through their own marketing means but also get new clients simply by making their presence known to those who are in the River North neighborhood for other reasons as well.

Startup business owners also like the River North area for office leases as it has a variety of office spaces available. Whether you need a single office in a high rise building or want to rent out a small commercial building in its entirety, either option can be found in River North.

West Loop

Another ideal neighborhood for startup business owners in Chicago is West Loop. Situated between the Chicago River, Ashland Avenue, Grand Avenue and Eisenhower Expressway, West Loop is an extremely popular place to open up one’s business. This rapidly emerging neighborhood of Chicago offers residents and visitors a little bit of something for all. Retail boutiques, restaurants, galleries, commercial offices and residences are all present and accounted for in West Loop. No matter which commercial genre your startup belongs within, there is a place for you and your business in West Loop.

The beauty of the West Loop neighborhood is that those who go there don’t just visit the area for one particular reason. They may come into the city and West Loop, in particular, for a bite to eat, do some shopping and take care of some business as well. There are plenty of office space leasing options in West Loop and the price ranges are reasonable for city office space, also.

Chicago startup company owners have a lot to manage with their new business. This process can be made much easier by knowing where to set up shop. Whether you like the River North vicinity or prefer the wide array of amenities which West Loop has to offer, your Chicago startup will fit in perfectly within either Chicago neighborhood. Startup companies find it easy to make their new commercial home in either West Loop or River North.

Chicago Office Space

Chicago Office Space Listings

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Chicago Office Space

Chicago-area business owners know that location is essential when choosing where you want to set up your business. Picking the wrong location for your office space lease can be detrimental to business owners of all types. This is why there is a lot of research which goes into leasing office space in Chicago. In order to help business owners locate that perfect piece of commercial property to lease in Chicago, there are companies and websites which cater to commercial business leases.

Tenant Representation Firms

There are companies which aid commercial tenants known as tenant representation firms. Tenant representatives, or “tenant reps” help business owners with a wide array of leasing features. These innovative companies will help business owners find commercial real estate to lease, help them to secure the commercial real estate lease and guide them every step of the way.

One top-notch Chicago area tenant representation firm is Tenant Advisors, Inc. The employees of this reputable tenant representation firm will help you to locate the right commercial office space lease for your business, help you to understand the commercial office lease, guide you in your dealings with the future landlord and will be only a call away should you need anything during your lease term and beyond. Whatever your commercial office space leasing needs may be, Tenant Advisors, Inc. can help.

LoopNet.com Offers a Wide Array of Commercial Real Estate Lease Listings

LoopNet.com is a popular commercial business leasing website. Business owners can review Chicago office space listings in various neighborhoods throughout Chicago. By using LoopNet.com, Chicago office space lease seekers can designate which amenities they would like their leased offices to have, how much space the leased office will consist of and other specific features. Those who use LoopNet.com can also look through properties which come fully furnished as well as those which are empty and business owners would provide their own furnishings. No matter what type of office setting you want to lease in Chicago, LoopNet.com is a good place to start.

CoStar.com Helps Business Owners by Providing Chicago Lease Options

In addition to LoopNet.com, CoStar.com also offers great options for office lease seekers. The CoStar Company powers a website, Showcase.com, and allows site visitors to search through commercial property listings of Chicago office space. On this website, business owners can narrow down their search by selecting the area in which they want to lease office space, how much square footage they need, the amount of money they want to spend on rent and more. Also on the site you will find contact information to the realtors and leasing agents who are handling the office space lease. This provides you with easy access to contact those who can show you the office space as soon as you are ready to see it.

Rofo.com Leads the Way to Office Space Leases in Chicago

Since you want to explore your leasing options as much as possible, it never hurts to have access to quite a few different commercial office space listing sites. Rofo.com is another great commercial office space marketplace listing website to peruse. On Rofo.com, site visitors can pinpoint office space leases in various areas throughout the city of Chicago. On the individual listings, one will find information relating to the exact location, square footage, rent amount and nearby amenities. Within no time at all, you can find out exactly what your leasing options are in the area of Chicago which you want to be in.

No matter what commercial lease listing site you choose, LoopNet.com, CoStar.com or Rofo.com, you will gain insight into a wide array of options for commercial office space leasing in Chicago. These websites give you the freedom to outline your specific leasing needs and zone in on particular leasing options which suit your leasing needs perfectly. Regardless of the square footage you require or the amount of rent you wish to pay, you will find plenty of options on these commercial office space leasing websites for properties in Chicago.

Chicago Office Sublease

How to Sublease Chicago Office Space

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Chicago Office Sublease

When business owners move into their new office, the last thing on their minds is leasing it out to someone else. However, there are many instances when a business owner who leases commercial office space has to arrange a sublease for their office space. Perhaps the original tenant is relocating operations out of the area for a while or is moving to a new office space and needs someone to take over where they left off. If this sounds like a situation you may be in, here are some tips for subleasing your office space.

Consult Your Lease to Ensure Subleasing Is Allowed

The first thing you must do prior to subleasing your office space is to consult the lease you signed with your landlord to ensure that subleasing the property is allowed. Not all commercial office space landlords allow subleasing and the lease will show whether or not such property transfers are allowed. Remember, the lease governs so look at this document first prior to embarking on the course for subletting your property.

Meet With a Tenant Representative for Help

The best person to have help you with your office space sublease is a commercial real estate tenant representative. Once you know that subleasing your premises is okay, the next step is to gain help in doing so. With a tenant representative by your side, your subleasing goals can easily be accomplished. The office space tenant representative will help you to advertise your subleasing opportunity, help you to locate a tenant and ensure that the entire process goes smoothly.

Find a Tenant for the Sublease

Finding a proper tenant for the sublease is essential. Your tenant representative will help you to advertise your office space availability and do so through various marketing means. When advertising the sublease offerings, you want to include various components in the marketing materials. Items such as rent amount, what features are included in the rental, time at which the rental begins and square footage of the rental premises should all be included. You want the marketing materials to do the advertising for you and entice prospective tenants to sublease the property.

Iron Out the Details

When there is a prospective tenant lined up for the sublease, the details will have to be ironed out regarding the overall features of the sublease. At this point the landlord will be contacted for formal consent to sublease and once approved, the landlord will need to sign a consent form for the sublease. Upon obtaining the landlord’s signature, the sublease documents can then be drafted between the original tenant and tenant under the sublease arrangement.

Finding a tenant to sublease your Chicago office space is not as difficult as one may think it to be. There will be documents involved and it will take some time to secure the sublease but with a good tenant representative, this process is easy to achieve and well worth the time and effort if you need to move out of the premises for part of your lease period.