Traditional Office or Executive Suite

When searching for office space it may make sense to consider executive suites over a traditional office.  Executive suites are used by small tenants all the way up to Fortune 500 companies.  Office space is important for productivity but is also one of their biggest expenses for companies.  LeaseWithEase can guide you in making your decision of leasing a traditional office space or an executive suite.
The first step is to understand your business both short term and long term.  What is the current employee count and what is the projected employee growth for the next six months to the next five years.  What is the budgeted monthly expense for office space and remember to add all the expenses associated with renting office space.  Select a desired office layout and estimate the employee count in order to calculate the total usable square feet needed.  Typically, a company will need about 175 to 250 square feet per person.  How many and how big are the offices, cubes, conference rooms and break rooms you need in your layout.  Now decide the locations you desire to lease space.  Much like buying a house, the perfect space and location may not exist and you will need to be flexible on what is not a priority.

Traditional Office
Benefits of a traditional office space:

• Long term lease
• Professional Image
• Amenities
• Less expensive costs
• Larger growth flexibility
• Flexibility on office layout

Cons of a traditional office space:

• Long term commitment
• Potential higher upfront costs
• More deal points to negotiate

A traditional office search will typically take longer than finding space in an executive suite so start your search early.  A traditional office lease is a longer commitment so a tenant should spend more time searching for space as well as negotiating the terms of the lease.  LeaseWithEase empowers tenants to make their own leasing decisions and can save a tenant 10% to 20% on their next lease negotiation.  LeaseWithEase is similar to Lending Tree, Travelocity and E*Trade in that we provide free data and tools that were previously only available to the professionals.  LeaseWithEase was built for tenants wanting to make their own leasing decision and at no cost to the tenant.

Visit “The Tenant Handbook:  A Blog For Tenants” for free professional advice.

Executive Suites
Benefits of an executive suite:

• Short term lease
• Turnkey space (No out of pocket costs)
• Flexibility for change
• Less deal points to negotiate
• Similar amenities of a traditional office space

Cons of an executive suite:

• Perception of less credibility
• Higher overall cost
• Restricted from medium to large growth
• Less flexible on office layout
• Short term lease

Executive suites service clients from individuals to Fortune 500 companies.  Executive suites lease large blocks of space and then build out the space for small tenants.  Most landlords will consider leasing large chunks of space to an executive suite operator with hopes that the tenant grows out of the executive suite space and will lease space with the landlord.  Executive suites offers tenant a professional image with a mailing address, phone service, receptionist, conference rooms and other amenities available with traditional space.  Tenants of executive suites still carry a perception of the business being in its infancy versus a traditional office tenant having stability.
Hear are a few of the executive suite operators in the Dallas market:

• Regus
• Meridian Executive Suites
• Premier Business Suites
• Boxer Property

There are numerous executive suite operators in the Dallas market. Each operator will vary in their monthly rate and what is included in that monthly rate.  Amenities can be different from one operator to another operator.  If considering an executive suite location then select an area and drive the larger buildings in that area to see if they offer executive suites.  LeaseWithEase can assist you in your search for both executive suites and traditional office space.

Take A Test Run
Fell free to go to www.leasewithease.net and test our site for selecting office, medical office and retail space.  All you need to do is select “Test” submarket when entering your search criteria.  For more information please go to www.leasewithease.net.

The Move
Need help with preparing for “The Move” then feel free to contact LWE with any questions or if you need a referral for getting your office moved and set up smoothly.

Join Our Tenant Vendor List
If your company offers services to office, medical office or retail tenants we would like to include your company in our vendor list for our clients.  Feel free to forward information about your company and what you provide tenants.

Follow us at:
The Tenant Handbook, @LeaseEasy, LinkedIn, Facebook, Google+
www.leasewithease.net

Note: Each state and each market will differ from other states and markets. It is advisable to ask a real estate professional any questions you might have about a leasing commercial space. The above article used general terms which could apply to your state or not. LeaseWithEase provides free consulting to our clients who use our free website to find their office, retail or medical office space.

LeaseWithease, LLC
www.leasewithease.net
“Bringing The Local Office Market To Your Desk”
Contact: agore@leasewithease.net
Texas Broker License #0449773