Q: How much does it cost to move my office?

Moving your office seems to be an overwhelming task to many people, however, once it is broken down into several phases the project becomes manageable. Planning and an attention to detail are key to a successful move. The first step is to discuss the move with your computer and phone vendor(s) to obtain a preliminary estimate. An industry standard cost is approximately $150 for each phone and computer line. Next contact a reputable moving company for an estimate on the physical move. Modular furniture (cubicles) cost approximately $300 per station to break down and re-construct. The physical move and cost of the electrician to hook them up is additional. The most important thing is to always get competitive bids for each element of your move. Your long time phone vendor may be more competitive with his estimate when he learns that he must compete for your business. Moving is also a good time to consider upgrading technology, replacing furniture and other changes to your office environment. An experienced team of vendors can move most offices over a weekend. Don’t forget to order new stationary, business cards and send announcement cards with your new address to all key business contacts. Many landlords are offering incentives for tenants to move including relocation allowances.

Q: Due to the slow economy, my company has cut back and now we do not need our current office space. What can we do with it?

The most important thing to remember is that your company has signed a legally binding agreement with your landlord to pay a monthly fee for your office. However, you do have some options to consider. If you have a good relationship with your landlord, the first step is to discuss your situation with the landlord openly and honestly. Sometimes a landlord will offer you a few options such as a payment plan to get you over the slump or assist you with finding someone to take your space. Also speak to your office neighbors. Do they need additional space? Would they be interested in your office? Do they know another company that might need office space?

Q: We want to renew our lease with our existing landlord. We have been here for years, so why would we need to use a real estate broker?

You want to make sure that the playing field is level when negotiating your lease renewal. Your landlord negotiates leases everyday and you do it perhaps once every three to five years. Who do you think understands the process better? The most surprising fact is that your landlord will pay your real estate broker, so you have no out-of-pocket cost in using one. Your real estate broker should know the current market conditions and have information about recent transactions in order to use this information to assist you. Just make sure that you are choosing a real estate broker who focuses on the type of commercial real estate you occupy.

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Filed under: May 2010

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