Space Value

Entrepreneur magazine, January 1997

If you're in the market for new office space, take some advice from an expert. Jack Gold, president of Sterling Management LLC, a New York City relocation consulting firm, suggests some tips:

• Determine how much space you need. Don't guess or estimate; mistakes in this area can be extremely expensive.

• Establish a budget both for the space (your rent) and for your moving and other relocation expenses.

• When considering a facility, find out what the rentable space is vs. the usable space. The rentable space is what you'll pay for; the usable space is the functional room you'll have. Typically, you'll pay rent for space you can't really use, including hallways, restrooms, lobbies, elevator shafts and stairwells.

• Find out about the building's power supply. Older buildings may not have adequate electrical power to operate computers, air conditioners and other equipment.

• Ask about building service and access. During what hours are services provided? Many buildings turn off air conditioners and heaters at night. Will you have late-night or weekend access if necessary?

If you're overwhelmed by the relocation process, consider hiring a consultant. An expert will likely make the process go much more smoothly, allowing you to focus on running your company.

Contact Sources

Sterling Management LLC, (212) 446-9000, fax: (212) 446-9008

Jacquelyn Lynn is a business writer in Winter Park, Florida.