With commercial real estate being so closely tied to an organization’s top and bottom line goals, it’s crucial to understand when your space is no longer serving as an asset for your business. We’re sharing insight on four major telltale signs to help you identify when it’s time to move:
- You’ve outgrown your space
Cramped corners usually lead to less productivity and reduced employee satisfaction. This is because there is limited space for work or ongoing projects; but lack of space can also fuel unwanted distractions—costing your company big in the long run. Although we’ve helped many clients negotiate growth options in their current space, this option is only viable when you’re in the right space. If the aesthetic or architecture of your office no longer fits your company vision, then space isn’t your only issue.
Not sure if it’s tight? Conduct a survey to get employee feedback to ensure you’re getting the right insight before making such an important decision.
- Company culture is changing
At Bespoke, we are focused on making your space a key component of your business development strategy, and so, we firmly believe real estate is a down payment on culture. Identify the best attributes of your office and amplify them through space planning, office design and supporting tools and technologies. An office move can act as a reset to form new habits and with a little guidance from management, teamwork and productivity will thrive.
- Space Inefficiencies
Oftentimes, business owners move into a space without properly accessing space programming and future growth needs—usually resulting in disconnected departments.. Aim to consolidate your square footage into a single floorplan, whenever possible. This helps to build a positive company culture as there is an uptick in face-to-face communication, informal chats and impromptu greetings.
- Limited remodeling options
While your current office may have adequate space, if the interior is outdated, it might be time to assess how much an update could cost you. Updating interior design is one thing, but a major overhaul that includes knocking down walls to start from the ground up can inconvenience employees and the disruption can cause major distractions. A new space gives you the opportunity to remodel it to your specifications before your employees move in.
Our proactive team of commercial real estate professionals work to ensure business leaders recieve ongoing strategic counsel and deep expertise of an objective real estate partner. We’re focused on creating cost-effective, custom-made real estate solutions, while providing resourceful problem solving and skilled negotiation to add value for clients long after a lease is signed.