Office real estate properties come in all sorts of sizes. Which is best for your operation?
If you are on the lookout for a brand new office real estate location for your company, you are likely facing hundreds of vacant commercial lots or properties to choose from. But, especially for a brand new start-up or rapidly expanding company, you may be having trouble figuring out what size of office real estate will work best for your company. Many people that are inexperienced in the world of office real estate may simply look at a property and say, “This will do” and sign a lease, even if it, in reality, will not suit their company’s needs properly. Make sure to read this if you are looking into purchasing or renting office real estate to make sure your company will be getting the right size for its operations!
Load Factor
The first thing to understand about any office real estate property is its load factor. Essentially, the load factor is a calculation based on square feet that determines how much of the space you are purchasing or renting is actually usable. For example, part of the square feet calculation may include kitchen spaces or bathrooms that cannot be used for any other purpose. This, depending on the desires of your company, may actually cause spatial issues. For example, if the kitchen takes up a substantial amount of room in the office real estate location, then you might want to look elsewhere just because of the load factor loss.
Old vs. New Office Real Estate Accommodations
Believe it or not, there has actually been a huge shift in recent years in how office real estate layouts look! More modern accommodations will likely make use of open floor plans, which emphasize a much more open, collaborative space and corporate lifestyle. Older office real estate properties probably have a more traditional look, with many executive offices and built-in rooms, such as designated kitchens, dining areas, and meeting rooms.
Forget the Square Feet!
Most importantly, do not always use square feet as the sole deciding factor of your choice in office real estate. Just because a building or office space offers a lot of square feet does not mean it can adequately support a large company. For example, you must not only take into account how much space you want each employee to have but also leave enough rooms for waiting areas, hallways, and meeting spaces where no one can be placed. This is especially important for closed floor plans where many walls and other dividing structures take up parts of the square foot calculation. Make sure to always consider the load factor!
Trust the Professionals at Clagett Enterprises for Your Realty Needs
If you’re looking for an experienced property management company, the perfect realtor for your property, or a professional to assist you during your purchase of any home, you can rely on Clagett Enterprises. Clagett Enterprises is a full-service real estate company with almost 30 years of experience in the Frederick and Western Maryland area. For assistance with commercial sales, leasing, management, and development and consulting, contact us online or give us a call at 301-665-6009. To meet our team and see some of our beautiful homes, follow us on Facebook and Linkedin.