Space Value
What to look in new office space
Opinions expressed by Entrepreneur contributors are their own.
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.
