So you’ve recently signed a new lease agreement and are looking forward to moving into a new office space. Now comes the fun part - you want to set it up properly so that it functions for your business all the while giving it some flair with customized branding. Here are some things to consider when fitting up a leased space.
Find the Best Team for Your Project
Every good project starts with a good project team – a good team that can work together for the benefit of the project is invaluable. A team that understands your company values is realistic about schedules and is honest about hidden costs will make the project significantly smoother and can be the ultimate difference between success and failure.
When building out your team, be concise in establishing a clear process for decision-making. This can save significant time and money in more easily maintaining both project schedule and budget.
Office Space Planning
Getting to the "meat and potatoes" of the project, review what your current needs are while also considering future roles space will have. Maintaining flexibility in terms of the fit-out of the space might be considered for such things as a growing team, future technical requirement changes, subletting down the road etc. Things like building in the infrastructure of pathways for future requirements, partition locations and so on can ultimately save time and money in the long run.
Do you have any sustainability goals? Are you interested in pursuing a certification such as LEED, Green Globes or WELL Building? While building to ‘green’ standards can come with significantly less of a premium than it once did, there are still additional costs if a certification is required (think additional building material, higher quality materials, time spent to record and administer applications etc.) That said, there are also numerous incentive programs, by region, to help with some of these upfront costs. Keep in mind, too, that investing in sustainable design can lead to reduced replacement and utility costs down the road and may also be valuable in your company’s recruiting and marketing efforts.
Once functional programing is solidified through the space planning exercise and sustainability considerations are accounted for, budgets can be firmed up. Planning for contingencies will vary by project, but in general, are inversely proportional to the quality of design information available and the knowledge of site conditions. Contingencies are generally on a reducing trajectory as the design is refined and site verification can be undertaken.
Another important factor to keep in mind is the influence of global trade, particularly during pandemic times. With pricing changing weekly in some regions and some products remaining out-of-stock for undefined lengths of time, the reliability of per square foot cost estimates is becoming problematic. Having the means to verify major budget items with the industry is more and more important for office space rental.
Does your project have a quick turnaround requirement, or do you have months to prepare? If time is of the essence, consider a phased approach, allowing your team to get in and use the space between phases.
Does the project only involve minor work? Can your team remain on site while the work is taking place, or does the work need to be scheduled after hours? There are a number of routes that your project team can suggest to fit within your schedule and budget, so be sure to review expectations early on to decide the option that best suits your team.
Whether your project’s big or small, a quick turnaround or a year-long venture, KRP Properties has the means to turn your leasing office project into a reality. Contact our Leasing team today!