Key Considerations for Investing in New Commercial Office Space

Whether you are investing in a new commercial office building or looking to add another location to your fast-growing company, there are some key considerations you should discuss with your trusted commercial general contracting team to ensure that you optimize the profitability potential of your investment.

Continue below to review some important commercial office space acquisition factors that will have the most impact on your overall success.

Commercial Real Estate Contractors Indianapolis Indiana 317-253-0531

Office Investment Factors to Consider Before Signing the Dotted Line

Outlay

Cost is always a key consideration when it comes to investing in property. Your total costs for procuring, renovating, maintaining, and operating a commercial office space will have a significant impact on your level of success. Then you have to think about the expenses involved in running your office, including employee payroll, supplies, imports, exports, and so on. Although a cheap price tag on an old building or office strip might look enticing, it is important to take note of all the other costs associated with transitioning into that space. Sometimes, cheaper properties end up costing more as time goes on.

In the same breath, it is important to not overextend yourself on a building or property that is too pricey or turn-key. Think about what your actual needs are. For instance, do you need a brand new building directly in the city center within walking distance of everything? Or could you still do well with a less modern space just outside of the metro area, but with several retail and restaurant options nearby?

Location

Location is another top consideration when choosing a commercial investment property. It is important that your location accommodates the full range of individuals that are expected to use or pass through your building, like guests, employees, clients, customers, and more. Additional key elements to focus on when choosing a new commercial office space location include building security, local amenities (restaurants, retail stores, shops, gyms, dry cleaning, etc.), freeway accessibility, public transportation, and exterior property maintenance.

Square Footage and Design

The overall size and layout of your new commercial office space will have a major impact on your business’s overall success. These are two key focus areas to discuss with your Indianapolis commercial general contractor. To ensure that you’re optimizing the value of your investment, it is important to choose a space that is neither too large nor too small. It should be just large enough to accommodate your company’s daily operations for now, plus allow for potential for growth or build-outs. As for layout, it is important that the interior is designed in a way that allows for efficient operations and staff contentment. Fortunately, office and building reconfiguration is viable with the right commercial remodeling company on the job.

Parking

Parking lot ratios are important elements of commercial building design. It is wise to choose a property that can accommodate the expected number of individuals to use or pass through your commercial building. The parking lot should be large enough for both visitors and staff, plus incorporate ADA compliant features.

Current Leases

Acquiring a commercial building with existing occupancy might seem like the best case scenario, but that’s only if most tenants are planning on staying. You don’t want to invest in a new commercial office building only to have 50% of the tenants move out the following year. It is important to review all current leases of the potential building acquisition before signing on the dotted line.

Are you looking for a qualified commercial general contractor to help you with your real estate acquisition and space planning needs? Contact BAF Corporation at 317-253-0531 for professional commercial construction management and space planning in Indianapolis, Indiana.