Advice for Selecting a New Office Location

Posted on November 30, 2020 by bafcorp20

Although online “influencers” and millennial moguls might insist that all you need for a successful new office location is a space with a little character in a trendy neighborhood, there is much more to commercial real estate leasing than just that. Take it from the experts in commercial space planning and preconstruction who know exactly what it takes to find the perfect new commercial site that meets all current and future business objectives for owners.

Continue reading to learn some of this professional advice, and where to get customized commercial space planning assistance you can trust.

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How to Select a New Commercial Location

Choosing a new commercial site is not as easy as picking out the best building in the biggest city in your state. In fact, the process is much more intimate than that, as there are several specific and personal variables that must be considered in order to make the best selection. Not only should you take into consideration your own business objectives and personal preferences, but you should also factor in your customers’ and employees’ needs. By balancing all of these difference variables, you can place yourself on a promising path toward finding the perfect fit for your new commercial location.

Factors to Consider for Commercial Site Location:

► Community Reputation. Is the neighborhood geared toward a specific industry? Are other businesses doing well? Or are there many businesses choosing to not renew their leases? Is the crime rate high? How is the accessibility in and out of the community? What are the average traffic conditions like? Is it close to other places you will be doing business or entertaining clients? Does it have many places for shopping, meeting, and dining?

► Employee Amenities. Is the new area easily accessible to your staff and/or clients? Are there nearby shopping centers, restaurants, and similar consumer amenities for them? You see, staffs tend to be more productive when they are happier. Being able to visit a restaurant or run errands on their lunch hour provides them with a level of convenience that makes them happy, which can be profitable for business owners.

► Wi-Fi Coverage. It is important to think about your office’s technology needs. How much wi-fi coverage does your new office need? Is there plenty of wireless coverage? Would you require a wireless booster for sufficient wi-fi coverage? Does the new area have adequate cell phone tower coverage?

► Accessibly. Does the location have highways, interstates, and exits that make it easily accessible to both staff and clients? What are the traffic conditions usually like? Is there adequate parking for employees and customers? Is there a fee for parking? Are there public transportation options? Is the city or government planning any upcoming road construction that would impact your business?

Once you have considered all of these factors, you can better narrow down a selection of listings with professional commercial space planning and permitting services. Talk to a local and trusted commercial construction company who specializes in helping business owners with real estate development. They can even help you understand the factors to consider before signing a commercial office lease, which is an entirely separate but equally important aspect of choosing a new commercial site location.

Commercial Space Planning and Preconstruction in Central Indiana

Contact BAF Corporation at 317-253-0531 for trusted commercial space planning and preconstruction services in Central Indiana and its surrounding locations. Our skilled and experienced commercial general contractors serve all corporate, commercial, and industrial industries in Indianapolis and all throughout the state. Call today to request free information or to schedule a consultation.

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Common Operating Costs as a Commercial Tenant

Posted on October 12, 2020 by bafcorp20

Whether you are preparing to perform a routine audit of your commercial lease portfolio, or considering a list of potential office spaces for rent, rent is not the only operating cost to review. Aside from rent, there are many other types of operating costs for a rented commercial space. Continue reading to learn some of the most common operating costs you can expect as a commercial tenant, as well as, where to get trusted advice regarding tenant improvements.

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The Cost of Rent

You can certainly expect to pay rent for your commercial space, but also expect this expense to be the bulk of your total operating costs. Review your base rent cost, then follow up by reviewing how that cost might evolve or increase overtime. Be prepared to learn that your lease allows the commercial landlord to increase rent at their discretion, as many commercial leases do. However, in such cases, the rate at which the rent will increase, and by how much, is usually defined in the lease agreement from the start. There are likely set caps on how high the rent can get. Variable indicators, like the Consumer Price Index, might also influence a landlord’s method of rent changes.

Property Taxes

Taxes are an obvious cost for a commercial tenant, and for anyone working in the country for that matter. In your commercial agreement, the portion of property taxes paid might be with a single, double, or triple net lease. Furthermore, property tax reassessments can result in sudden and unexpected operating cost increases. Talk to your landlord when reviewing your lease, and ask whether or not the property has been assessed recently, or if any assessment is in the books.

Insurance Coverage

General liability insurance might also be an obvious operating expense for a commercial tenant, but there is more to consider when reviewing your lease. For instance, if you have a double or triple net lease, you must pay for a portion of the landlord’s property insurance. When renegotiating your liability insurance premiums, be sure you understand that your space’s location will have an impact.

Utility Costs

Like any other modern building or space, it will require the use of electricity, running water, heating and air conditioning, and many other modern utilities. So, you can expect to pay utility costs on a routine basis, unless you have a gross or full-service lease. Talk to your trusted Indianapolis commercial general contracting company to learn how you can keep utility costs down by incorporating more sustainable infrastructure, operations, and technology.

Miscellaneous Fees

Your landlord might require their commercial tenants to be responsible for paying certain miscellaneous property fees, separate from rent and utilities. Some examples of such fees include parking fees, permits, property facility maintenance, exterior sign displays, a possibly even a hidden repayment of rent abatement. Also, some landlords will offer first months’ rent free, but then require that month’s rent to be repaid by the end of the year. Watch out for this too when reviewing your lease agreement.

General Maintenance and Upkeep

Commercial tenants are generally responsible for maintaining the property on their own dime. This commonly includes expenses like facility maintenance, custodial services, indoor plant care, garbage and recycling, minor repairs, landscaping service, snow removal, and security. Be sure to look for these fees in your commercial lease, and discuss who is responsible for paying what when the time comes. Also be sure to discuss your TI allowance with your landlord, and perhaps plan a needed tenant improvements or remodels for your commercial space or building.

Office Renovations and TI Improvements in Indianapolis, Indiana

Contact BAF Corporation at 317-253-0531 for trusted office and commercial-use construction services in Indianapolis, Indiana and its surrounding locations. Our skilled and experienced commercial general contractors are certified specialists in tenant improvements, office remodels, and commercial-use construction services. Whether you are launching, expanding, renovating, or relocating an office or professional space, our commercial construction and building contractors have the qualified expertise, first-class resources, and latest technologies to support your business’s objectives and generate long-term value. We serve all corporate, commercial, and industrial.

The Benefits of Natural Light in an Office Setting

Posted on May 14, 2020 by bafcorp20

Did you know that natural lighting can both increase productivity and enhance the overall well-being among employees and tenants in an office setting? Continue reading to learn all the proven benefits of incorporating natural light in your commercial office.

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Staff Fatigue and Contentment

According to a study performed by the esteemed HR advisory and research firm, Future Workplace, the number one office perk that employees really want is access to natural light and outdoor views. In fact, another study carried out by Northwestern University, “Impacts of Workplace Daylight Exposure on Sleep, Physical Activity and Quality of Life,” demonstrated that working in an environment without windows has a detrimental impact on staff, which happens to be a “universal phenomenon” among employees who work in such conditions.

The Future Workplace did a study and found that 47% of employees surveyed reported feeling fatigued as a result of an absence of natural light or without a window. Additionally, 43% of those surveyed reported feeling melancholy because the office setting did not have sufficient natural lighting or windows. You can argue that fatigue and gloominess can be higher in office settings in which staff are staring at a computer, tablet, or phone screen for 4 or more hours a day. Too much screen time causes staff to long for a visual break.

More Studies Support Natural Light Benefits:

A study done by Ergonomics International Journal showed that natural lighting has visual health benefits. 51% of those surveyed reported reduced eye strain, 63% reported reduced headaches, and 56% reported less drowsiness.

A study performed by the Space Place, “Daylighting and Productivity: A Study of the Effects of the Indoor Environment on Human Function,” suggests that staff is more likely to show up for work if they are siting near a window or have outdoor views in the office.

Another study done by The Center for Healthcare Design suggests that exposure to natural light and windows aids in recovery from surgery and illness.

A study performed by the National Renewable Energy Laboratory, “A Literature Review of the Effects of Natural Light on Building Occupants” suggests that natural lighting improves productivity, reduces workplace accidents, enhances mental performance, supports sleep quality, and even raises morale among third-shift workers.

Studies performed Human Spaces showed that being close to natural elements like foliage and sunlight increased well-being and creativity among staff by 15%, and overall productivity by 6%.

According to Carbon Trust, resource efficiency experts, their recent study showed that 40% of a property’s electricity consumption is artificial lighting. This means that business owners can also reduce their monthly utility expenses by incorporated more natural lighting.

Top Suggested Benefits:

☑ Better Mood
☑ Higher Attendance
☑ Improved Performance and Productivity
☑ Less Workplace Accidents
☑ Better Sleep at Night
☑ Improved Vision Health
☑ Reduced Electricity Usage

Too Much Light Can Have the Opposite Effect…

It is important to understand that, on the other end of the spectrum, lighting can have negative effects in the office. Too much, or uncontrolled, light, whether natural or artificial, can cause extreme heat, excessive glare, and similar environmental discomforts that can impact staff productivity and morale. It can even trigger medical conditions, like epilepsy.

Want More Natural Light in Your Commercial Office in Indiana?

Contact BAF Corporation at 317-253-0531 for trusted commercial general contractor services in Indianapolis, Indiana and its surrounding locations. Our skilled and experienced commercial general contractors can help you add more natural lighting into your office or commercial building. We serve all corporate, commercial, and industrial industries in Indianapolis, Indiana and its surrounding districts. Call today to request free information or to schedule a consultation.