Welcome to Episode 32 of the Corporate Real Estate Podcast, brought to you by LeaseSmart.com. Your host is Craig Melby, the founder of LeaseSmart, whose objective is to find companies the best facilities and get them the best terms, making their business more profitable and less vulnerable to future, unpredictable circumstances.
Today we’re talking about leasing office space. If you are considering leasing in a high rise you’ll probably be dealing with a full service lease, where all of your services are included: your janitorial, your electric, etc. And, in terms of the size of the space that your renting, the portion that is actual walkable space is much smaller than what you’re paying for. That’s called a “loss factor.” The loss factor is your share of the elevators, the hallways and the lobby, etc. It could be 20% of the space you think you’re renting. Though, not all high rise situations will charge you the loss factor, so be sure to ask!
When you are picking an office space, high on your consideration list should be the amenities that will help you retain your employees. Acquiring and training good employees is one of your biggest investments, so keeping them is very important financially and integrally. If you can find a space that they are excited or that fits their lifestyle, they’ll be more likely to stay. For example, if childcare is offered in your building and your employees use it, they will think twice about leaving working with you.
For more information, be sure to visit LeaseSmart.com
If you would like any free Space Worksheets, Letters of Intent or Proposals then Craig Melby is more than happy to share the documents that he uses. Just e-mail him at firstname.lastname@example.org.