When it comes to office buildings, you generally get what you pay for, but first you need to know what you want. Colliers International Workplace Strategist David McEwen shares his guide to selecting the office building right for your business.
Defining your requirements starts with a solid understanding of your business strategy and a well formed workplace strategy, identifying who is going to occupy the building and how they will use it. Prioritizing your requirements (other than cost and lease terms) can be broken down into these broad categories:
1. Risk Mitigation
What is the risk profile of the business activities to be undertaken?
What is the impact of unexpected loss of power, phones or data circuits?
What is the security profile of the operation? Is it at elevated risk of industrial espionage, theft, hacking / social engineering attempts, or public protest?
Is the building in close proximity to any location specific hazards?
2. Spatial Needs
Will the floor plates, core placement, column grid, ceiling heights and features like internal atria work for your business?
Are there any groups requiring high levels of floor space density such as call centers or clerical processing teams? Or are there areas where typical occupancy may be higher than expected, such as non-territorial environments?
Conversely what’s the expectation for the density of built zones such as personal offices and meeting rooms?
How large are your various teams? How much do their sizes vary and what are their needs for interaction and collaboration?
How long is the facility required and what are the expectations for changes in team sizes, work practices and technology over that period?
3. Building Performance
Will capacity, sustainability (eg. energy and water efficiency) and other characteristics of the various building services including electrical supply, air conditioning plant, telecommunications risers and elevators meet your business needs?
What are the operating hours? Is shift work undertaken? Will the building’s plant be able to service your needs efficiently outside normal business hours?
Is there to be a computer room or data center? Does it host applications or web services used by customers or users in other sites? Does it need to be on site?
Are there any specialist requirements such as labs or clean rooms?
Do you require particular delivery access or garaging? Do you have areas requiring high floor loading?
Is the building located close to a public transport hub? If not, is adequate car parking available?
Are there end of trip facilities like secure bicycle parking, shower and locker services to support employees’ lifestyle choices?
Does it provide access to cafés, banking facilities, other retail, gyms and child care facilities nearby?
5. Cosmetic appeal
Will appearance and fit out standards for the building exterior, lobbies, lifts, bathrooms, and the floor and ceiling finishes within the proposed tenancy area align with your brand?
What types of employees are you trying to attract? What will they look for in a building?
What is the profile of visitors or clients attending the site? What are their expectations? Are signage rights important?
Armed with this information you can start to prepare your property brief and prioritize your requirements. In practice it’s a complex juggling act with many traps for the unwary. At the outset, it is useful to assemble a team of internal and external specialists headed by an experienced Project Director, typically covering the following disciplines:
While this sounds like a long list, a good Project Director will help ensure timely and efficient inputs from the necessary experts to develop the right strategy and property brief, and provide effective due diligence on short listed sites.
The story was originally published on Colliers International.
About The Sundance Company
Established in 1976, The Sundance Company has the experience to help you with your commercial real estate needs throughout the Boise Valley. If your requirements include property management, leasing, real estate development, project planning, construction or space planning then look to us. The Sundance Company has more than 1.5 million square feet of office and industrial space available in prime locations in the Boise metropolitan area. More information is available at www.sundanceco.com or 208.322.7300.