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.

Office Space Rentals: Changes and Trends in Office Space Density

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In the past, many different service and product providers would have offices which were large and all encompassing. Whether it was rows of office cubicles or a vast array of individual offices, many of the offices of yesterday were quite larger than many company facilities today. There have been quite a few changes with regard to office space density, largely due to business owners wanting to cut costs. The following will explore the changes and trends in office space density and highlight what the features of office space density are likely to consist of in the future.

Office Space Density Has Decreased As Costs Have Increased

Although there are many more office space facilities being built, many of the individual offices for various companies have been decreasing in size. Cost is a big factor in this regard. It is costly to pay for employee space as well as employee workspace materials. Many companies are downsizing as they simply can’t afford to have large offices due to the high cost associated with these areas. Utilities cost more as do office furniture purchases to properly accommodate many employees. The business owners have had to look to other alternatives in order to be able to afford operating their workspace. Fortunately, with technology on our side, many other options are readily available with regard to properly staffing a company while keeping office space density to a minimum.

Cloud Computing Enables Companies to Downsize With Regard to Office Space Density

Cloud computing is one technological advancement which has allowed business owners to cut back on their office space density. Cloud computing is a type of shared service option which makes it possible for businesses to get the services they need without having to have a bunch of extra employees taking up office space. The options available with cloud computing keep increasing and businesses are taking advantage of these features on an increasing basis.

Telecommuting Options Have Increased For Employees

Another change which is seen with regard to office space density is the increased availability of telecommuting options. Many company owners realize the advantages to having employees work from home and employees love the convenience associated with telecommuting. Basically, it is a win-win situation for all involved. This is another trend seen with the reduction of office space density and one which is quite popular for both business owners and their employees.

The Future of Office Space Density

The trends currently seen with office space density do not seem like they will be dwindling any time soon. As more business owners face the high costs associated with a large employee base, they will keep exploring options as to how they can reduce their office space density. Telecommuting options are bound to increase as are cloud computing services. Business owners are figuring out that by utilizing these options, they can decrease costs all the while having their staff properly in order and doing business with ease. Reducing office space density is possible and there are bound to be countless amounts of additional resources available to business owners who wish to decrease their office space density while maintaining their current operations effectively.

Sublease and Assignment Clauses in Commercial Leases

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Commercial leases can be a bit overwhelming when it comes to understanding their contents, especially for the novice commercial office space tenant. However, there are certain clauses to be on the lookout for within the lease which will dictate how you can engage in your tenancy. The sublease clause and assignment clause are two clauses which you will often find in a commercial office space lease. These two clauses let the tenant know how they can occupy their tenancy and whether or not anyone else may come into possession with their permission. Here are some things which you as a commercial office tenant must know about sublease and assignment clauses:

What Is The Difference Between a Sublease and an Assignment?

There are distinct differences between subleases and assignments in commercial leases. A sublease is when the office space tenant transfers only a portion of their office space lease term to another. On the other hand, in an assignment situation, the office space tenant transfers their entire interest in the remainder of their lease term to another individual. Some landlords will allow one, both or neither. It basically depends on the individual landlord and oftentimes what the current area trend is with regard to assignments and subleases in commercial leases.

What Do The Sublease and Assignment Clauses Contain?

The sublease and assignment clauses contain all of the factors surrounding these two types of tenant transfers. In general, the clauses will either state that the tenant is allowed to sublet or assign the property during their tenancy or that they must refrain from doing so. Some commercial real estate clauses pertaining to these issues may take the middle of the road approach and allow the tenant to do one or both of these transfers but with restrictions.

Are These Clauses Negotiable?

Sublease and assignment clauses are usually negotiable items in the lease.  It never hurts to inquire with your future landlord as to whether or not you can change the terms within the sublease and assignment clauses. A tenant representative can help you to make this request and provide valid arguments for why certain changes or requests should be granted.

Must You Follow These Sublease and Assignment Clauses?

Once the sublease and assignment clauses are in the commercial office space lease and the lease has been signed, they are permanent fixtures of the current lease. Therefore, you must follow the guidelines listed in these clauses. These sublease and assignment clauses not only benefit the office space landlord but also the tenant by detailing how the tenancy must be carried out during the lease term.

Sublease and assignment clauses are commonplace in commercial leases. The terms of assignments and subleases will vary depending on your individual lease. Before you sign your commercial office space lease, make sure you read the lease thoroughly, especially the assignment and sublease clauses if you intend to transfer any part of your tenancy during the lease term.

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How to Lease Office Space

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Leasing office space is a popular choice for business owners these days. Some company owners lease rather than buy office space as they want to try out a new area but don’t want to commit to the location for a long period of time. Other business owners choose to lease office space as it is a cost-efficient method for them and the operating budget of their company. No matter what the reason may be, office space leases are high in demand and there are plenty of commercial landlords out there ready to answer the call of company owners.

Even though you are not purchasing the office space, you still want to proceed in the right way and have a game plan in effect before choosing just any location. When considering how to lease office space, the following tips will help:

  • Research Prospective Locations: The first step to leasing office space is to research the prospective locations. Do you want to lease an office in the city or do you prefer the suburbs? A single office setting or three floors in a high rise building? Parking available or indifferent as to this feature? Before you choose to sign a lease anywhere, you need to be certain that the area you choose will suit your business best. Therefore, research possible locations first before looking at individual office spaces.
  • Know Your Budget: It’s also important to know how much you can afford to spend on an office lease. Whether you are a startup company or have been in business for many years, you have to acknowledge how much you can spend on rent and know that once you sign the lease you are responsible for making the rent when it becomes due.
  • Consider the Square Footage On Your Current Location When Choosing an Office Space to Lease: In order to have a good idea as to how much room you will need in your new office space, consider how much square footage your current place of operations contains. If you are planning on expanding your company at the new location, make sure that you account for this expansion when it comes to evaluating the size of your new office space.
  • Have A Tenant Representative By Your Side During The Process: The best way to make sure that you find the right location for your new office space lease is to have a tenant representative help you out. A tenant representative knows the ins and outs of commercial office space leasing and will guide you in the proper direction the entire way. This professional will help you to find the right place to lease as well as enable you to have the right representation when negotiating your new lease with the landlord.

These are some helpful hints for leasing commercial office space and ultimately choosing the right location for your company. When you have a firm grasp as to what you want in an office space lease and know how to obtain that lease, the end result will be the ideal office space setting for your company.

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Chicago Office Space: Attractive Qualities of Leasing Office Space

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Business owners located in the Chicago area have plenty of options when the time comes to lease commercial office space. Some choose to lease office space in the Chicago suburbs while others find that downtown Chicago holds many attractive qualities and draws them in. Although the suburban area has its own distinctive qualities, there are many great features which propel business owners to the city streets of Chicago and entice them into leasing commercial office space throughout the city. The following will highlight some of the many attractive qualities of leasing an office in the Chicago downtown area.

Leasing Options Are Wide and Varied

Office space leasing in Chicago is a wise choice as the leasing options are wide and varied. From single-room office spaces to multiple floors of high rise buildings, business owners can find the right style of office space to lease in downtown Chicago. When compared with suburban locations, Chicago has so much more to offer with office space style variations. In addition, commercial office space seekers can look in different areas of the downtown area and find the location which is most akin to their industry.

Public Transportation Makes Commuting Simple

Chicago has another attractive aspect which is the public transportation options. Taxis, buses, trains…practically every public transportation option you can imagine is available in Chicago. Commuting is simple in Chicago due to the wide array of public transportation. Not only does this allow business owners to get to their place of business but this goes for their staff and clients as well.

Large Client Base Opportunities for Chicago Businesses

The city draws in clients from all over town and the suburbs as well. When you lease office space in downtown Chicago, you can rest assured that your client base is readily available. The city atmosphere allows prospective clients to find your door, especially if they are in the commercial neighborhood for another entirely different reason. Having an office in the downtown Chicago area is a great way to draw in new clients and provide goods and services to your current clients as well.

Restaurants and Shopping Nearby

Leasing commercial office space in the city means that there will be plenty of amenities located nearby. Restaurants and shopping venues make it easy to draw in clients who may be in the neighborhood for a different reason yet find their way to your office. Also, you should be located close to restaurants and stores so that these amenities are available to your employees. The downtown Chicago office space leasing location ensures that you will have restaurants and stores galore at your doorstep, which is another great reason to choose Chicago commercial office space for lease.

Leasing a small office in Chicago or a large portion of a high rise building in the city is a great move, whichever route you choose. The commercial opportunities which go along with leasing office space in Chicago are priceless and will prove to be a good move to make when trying to find an office space lease location which will yield a large client base, ease of access and many options regarding office space types.