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9 Things to Look for in an Office Space for Lease

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Are you thinking of moving from your home office to a leased office?

Renting office space is a huge decision that requires careful thought and planning. Looking for office space is the first sign that your business is beginning to expand.

It’s essential to find a productive environment to run your company. But you have to put both strategic and monetary issues into account.

Choosing your first office space for lease can be an overwhelming venture. Focus on making the right decision for your company, employees, and clients.

The choice you make can either make or break your business. Identify space with all the amenities you need for your business to function well.

It’s not advisable to choose the most expensive lease payment. Keeping your rent costs and terms in check is crucial.

Here are nine things to look for in an office space for lease. Put them into consideration to ensure the success of your business.

1. Location Is Key

Choosing the best location for your employees and clients is very important. Location will help to optimize work-life balance and help in recruitment efforts.

A good space will boost your company’s long-term performance. A poor site can cost you a lot in terms of capital, productivity, and talent. Price may be the most crucial aspect of finding the best location for your business.

For retail spaces, factor in what other competitors do before making a final decision. Analyze the area and customer demographics. It will dictate the business atmosphere, foot traffic, and your company’s success. For office space, employee retention and recruitment is key, with an eye on convenience and comfort.

Consider an office rental that’s a reasonable distance. Your employees need to travel to work easily. If it’s located far away, they may have to look for employment elsewhere.

Your clients may also need to be close to you to support your business. The parking situation, neighborhood, and accessible space are other things to consider. A startup needs a convenient and safe location to attract clients and employees.

If you have not yet hired a team, consider an office space located in an area populated with top talent. In Austin, this often means being in the northwest corridor between downtown and north Austin. At Austin Office Space, we can help you in determining the best location for your current and future employees.

Keep in mind that there is nothing like a perfect office space. Come up with a list of all the essential amenities and office space you need. Be practical to avoid wasting time looking for a ‘‘perfect’’ space.

If you’re starting a small business, don’t rush to choose a ”fancy” office. You don’t want to rent a space and then move out within a short time as it may impact your profitability. Do a lot of research and consider rent as they all play a vital role in your success.

2. Come up With a Budget

After location, the next big concern should be a budget. Don’t make the mistake of renting an office space that will put you into debt.

Before you even start looking for an office for lease, have a budget in mind. It should allow you to operate your business comfortably.

Renting comes with many expenses, and it’s easy to get overwhelmed by the bills if you’re not well prepared. So, the amount of money you are willing to spend will determine the office space you intend to rent.

Decide on the monthly cost you are ready to pay. They include rent, insurance service charges, maintenance costs, and daily operational costs. Knowing about all these costs in advance will ensure that you don’t spend more than you can afford. In Austin, the typical lease has pass through operating costs, called a “triple net” lease, or NNN, which needs to be factored in above the base rent.

Leasing an office space means that you’ll be in a legally binding agreement for a specific period. Your goal is to enhance your business to be more productive and profitable.

An office lease is a huge responsibility, so you have to ensure you are in a position to commit. Find out about any hidden costs in advance. They can include janitorial services and utilities.

It’s much more common for most business owners to focus on base rent and ignore the incidentals. Before you sign the lease, get detailed information about the actual cost of the office space.

Onec t you have an idea of the numbers, create an income statement forecast for a long-term lease.

Break down each item, knowing that the price can fluctuate over time. Evaluate your expenses to see if they make sense depending on the projected revenues. The aim is to ensure that the office space will increase your profitability.

3. Lease Term

Signing a lease is a crucial step in renting an office space. It protects your business from the financial burden that may occur.

Renting has a specific time length. A lease agreement determines the terms of the lease the landlord and the tenant have agreed upon. Reviewing the lease will ensure that both parties have a clear agreement.

Every office lease is not the same. Even though they are different, they are usually drafted to favor the landlord.

As a tenant, decide whether the office lease terms work in your best interest. Consider issues like break clauses, rental increases, lease length, etc. At Austin Office Space, we can help you negotiate the business terms of your lease.

Clarify these issues in advance to avoid misunderstandings during negotiations. The lease should be clear and straightforward. You need to know what you’ll be accountable for and what you will be getting.

All the provisions need to be in the lease. You don’t want to find out later that the landlord is signing the lease to a different person. Or, they are increasing your rent up by a huge percentage.

Also, find out what deposit the landlord needs. Deposit for office rental space can be anywhere from 1 to 12 months’ rent.

As a new entrepreneur, don’t lock yourself in a long-term lease. You should expect your business to grow or make some cutbacks with time. Most landlords provide at least a length of 3 to 5 years.

Look for subleasing opportunities that provide shorter terms, usually 2 to 3 years, and often come with furniture. There is a good chance that your business will outgrow the space before the expiry of your lease.

Find out if you can terminate the lease beforehand. Ask about what restorations are necessary before leaving the space.

4. Evaluate the Building

Buildings are designed using different engineering systems. Their condition may not be evident when leasing. But there are maintenance issues that are easy to detect, like walls with cracks or peeled paint.

Evaluating the building will help you identify opportunities for managing energy consumption. Check whether the type of building and the space is appropriate for your business. Your office space reflects your business, and you want to give it a good first impression.

Before choosing rented office space, it should comply with the local laws. The landlord should provide the basic amenities and security.

Consider the layout. An office space may appear smaller, but it proves to be more efficient for your team with a good setup. Natural light is a plus as no one wants to work in an environment that feels like a cave all day.

Revisit the building at different times and on different days of the week. Check how the lobbies, elevators, and parking lots are crowded.

Consider the client as you visit potential office space for lease near me. View the impressions the surroundings will give your company. Then, decide whether building matches your brand image.

Visit multiple office spaces before making your decision. Talk to your broker to find out about the landlord’s reputation. Making comparisons will help you settle on an office space that fits your needs well.

5. Get Professional Advice

Negotiating the terms of your office rental is a complex and time-consuming process. It’s best not to do it yourself. Identify a reputable commercial broker, such as Austin Office Space, to give you professional advice.

Pick one within your area who understands the market to help you with the process. A professional will ensure that your business gets a profitable outcome.

Hire a broker who deals with startups and specializes in lease negotiations. A lease negotiation has many terms that can often feel overwhelming.

Choose someone who will clarify what you don’t understand. Your broker should represent your best interests, and tenant only representatives will provide you with the least biased feedback. Ask around or do a quick online search to find a commercial real estate broker in your target community.

Failure to hire a professional could result in signing a lease blindly. A  professional will review the contract thoroughly and negotiate the terms for you based on what is market in your area  and.

Their expertise will save you plenty of time in the long run. Hiring a broker to negotiate the business provisions of the contract for you will allow you to save money, in both the term, tenant improvements, and obtaining market rates.

Hire a lawyer to review your office space for lease. As a business owner, working with a real estate attorney also saves time and can help you understand the legal provisions of your lease. Attorney review may  ultimately save you money by clarifying the legal risks inherent in your lease and will help you make sure you understand your responsibilities and rights.

6. Start Early

First, think about whether you need office space. There are many entrepreneurs today that either  work from home or co-working spaces. If your company can function in this environment, you could save money. A shared workspace or coworking space may be ideal, since commitments tend to be shorter..

Renting office space for the first time can be a daunting process. Starting your search early is crucial since most transactions involve many professionals. The entire process can take several months. If you find that there is a need to rent an office space, it’s best to start looking for an office rental as early as six months to a year before moving in. That’s enough time for you to make a careful and informed decision and will allow you to engage a broker to work on your behalf.

Your sales projections should indicate when you expect to outgrow your current space. So, plan accordingly.

7. Consider the Amenities Offered

Amenities are available in various forms like delis or on-site fitness centers. Also, consider the building’s cell phone and internet capabilities. Nearby amenities can also impact your location decision when renting an office space.

Amenities are what will keep your business thriving. Many employees and clients appreciate an office close to coffee shops and restaurants. Prioritize places you frequent for business purposes like banks or meeting spaces.

Choosing an office space with the best amenities will help attract best in class employees, and will boost employee productivity and morale. A building without essential amenities nearby could mean losing clients and employees to a competitor.

A great location is also vital for businesses. There is a connection between the well-being of your staff and infrastructure. Increased stress levels occur as a result of the inconvenience of traveling. Have the best of both worlds by choosing an ideal location with first-class amenities.

8. Ask Important Questions

Before signing the lease, ask all the questions you may have on your mind. Find out about parking spaces allotted to your business.

Ask if it’s possible to sublease your space. Discuss the type of signage the landlord allows. All this will help you clarify what is allowed and what is not.

The answers to the specific questions you have will play a massive role in your final decision. Never make the mistake of viewing the lease provided as a final document. Prioritize your demands before you start negotiations and engage your broker and attorney to provide suggestions to the lease document.

If you have a lot of requests, ask the landlord if you can sign a long-term lease as a concession. A long-term lease facilitates the landlord’s willingness to customize your space.

During negotiations, list any possible requests you may have for support services. Discuss any special requirements such as server rooms, lobby services etc.

Also, find out who are your neighboring tenants before you proceed to sign the lease. Choose a building with businesses that complement your industry. This will increase your chances of success.

Synergy is increasingly becoming a prominent buzzword. Increased foot traffic is one of the benefits of choosing a synergetic space. Companies become more productive around those who help each other.

Every business aims to experience rapid growth. Identify an office space that will meet your needs and provide suitable options.

9. Flexible Office Setting

Identify space with flexibility. Flexible growth options are ideal when you’re just starting. Your business may quickly expand since the future is unknown. Determine if the building has adjacent spaces to expand or contract in the future. 

Moving into a new office space provides you with an opportunity to make radical changes. It can be a great way to help develop your corporate culture. Discuss what needs to be retained in the new location by employees. Think about the necessary improvements on employer image and the company’s brand.

Flexible office space will emphasize more on the identity of your business. Furnishings and renovations can transform any space to match your needs.

Identify an area that your employees would be most convenient using a heat map. There should be room to make adjustments to fit your company’s growth and changing needs.

Co-working spaces have become popular alternatives to traditional leases. They often allow for a flexible alternative with short-term agreements and allow you to decrease and increase depending on your changing business needs. Co-working can also enable you to add extra desks when necessary. You can move in fast and efficiently with little downtime. The equipment, decor, furniture, and other amenities are provided. You don’t have to worry about installing internet lines or hiring a receptionist. Most of these services are included in your monthly rate.

Co-working spaces  are often designed to encourage collaboration and foster creativity. Team members can utilize the space for different projects effectively.

Choose the Best Office Space for Lease

Finding an office space for lease is a big step. Before you start looking at potential premises, consider the above points. Hire a professional, such as Austin Office Space,  to help you with the process. We will provide you with a smooth leasing experience.

In Austin, tenant representatives get paid from the landlord’s representative’s commission. So, the assistance comes at no cost to the tenant.

Contact us today for trusted tenant representation in Austin, Texas.

How to Negotiate a Lease for Office Space, Austin TX

How to Negotiate a Lease for Office Space, Austin TX

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Are you looking for ways to ensure you’ve found the best office space for your company? Does negotiating with a landlord seem overwhelming?  If so, then you need to learn all you can about negotiating a lease for office space in Austin.

Doing so can help you find the perfect fit for your company both now and in the future. It can set you up with tenant-friendly terms, a reasonable amount of rent, and much more.

See below for an in-depth guide on how to negotiate a lease for office space in Austin TX and find the best fit for your needs.

1. Set Yourself Up With the Right Real Estate Advisors

If you set yourself up with the wrong set of real estate advisors, then you’re sabotaging your own chance to negotiate a deal.

Imagine this scenario: you bring in a real estate agent to help you negotiate a potential commercial lease with the landlord of a property they’ve pointed you to. 

During the talks, the landlord is surprisingly unwavering with what they’re looking for in terms of lease length, rent, etc. After the fact, you’re shocked to find out that the commercial real estate firm you hired doesn’t just represent you, but also the landlord that you were unsuccessful at negotiating with. 

That’s exactly the scenario that you’re walking into with most real estate agents. Most firms generally represent landlords as well, and will only point you towards the properties of those they represent. Doesn’t seem like a good start for negotiations, does it? Equally at issue is consider that you, the tenant, is the smaller party, and one that will only make a transaction every 3-5 years, versus the deep pocket landlord with several buildings, lots of spaces, and leasing to a different tenant monthly, It’s not hard to figure out where loyalties lie,

Thankfully, there are ways to avoid this problem. By using a conflict-free real estate company such as Austin Office Space, you are setting yourself up for successful negotiations. We only ever represent clients like you and never landlords. Even better, we have worked with these landlords over the past 20 years and know their sticking points and their typical gives. 

2. Create a Budget

Cost is likely on the top of your priority list, and rightly so. If you’re going to protect the future of your company, then you need to make sure rent makes financial sense both now and in the future. 

Start the process by creating a budget. How much do you currently pay for your office space in Austin TX? Are you looking to lower the price from what you currently pay? Are you looking for a larger or more attractive space that can support your growing company (and therefore willing to spend more)?  Your annual company budget can help you in your office space budget.

Having a budget will help you in several ways as you search and negotiate for a new office space. First, with a solid budget, we can browse the Austin corporate listings and find options that fit your financial parameters.

Also, a budget can help guide negotiations and help ensure affordability.

3. Know the Conditions for Termination

The termination conditions on a lease are typically unwavering. If you’re intentional about upholding your lease obligations, then you likely won’t run into any situations that warrant a termination of the commercial lease.

That said, you’ll want to have a firm understanding of what those conditions are, which we can help negotiate for you. The last thing your company needs is to be blindsided by a canceled lease.

Don’t worry, in Texas, landlords can’t just terminate a lease on a whim. The only time they’ll consider terminating the lease is when you don’t meet up to your end of an agreement. This could be for things like not paying rent, certain unethical events taking place, or your company becoming a danger to others around it.

4. Ask About Additional Fees

Those of you that have been renting office space for a while know that a commercial lease is never as simple as paying for the agreed-upon price of rent.

There will be additional fees—commonly referred to as “incidentals”—that you will need to pay. Why not get out ahead of these by asking for them in advance.

Such incidentals might include costs like lease renewals, tenant improvements, maintenance for a shared lobby, and so on. Some of these can be negotiated as well!

5. Think About Renovations

There may be some spaces that are in perfect shape when you move into them, but they also may be above your budget range.

It’s okay to walk into an office space in Austin TX that needs a few renovations; you’re likely going to make some aesthetic changes to match your brand anyways. 

But who will pay for those renovations? How much of the renovations does the landlord expect you to pay for? If it’s a substantial amount, then would they consider giving you a month or two of free rent? After all, it’s an improvement to their property that they won’t have to pay for. With a long enough term, many landlords will provide tenant improvements at no cost to the tenant. These are highly negotiated provisions, and we negotiate these often on our clients’ behalf.

Negotiate the Perfect Office Space in Austin TX for Your Needs

Now that you have seen several key things to consider when you go to negotiate a new office space in Austin TX, be sure to use this information to your advantage.

Take the time to read this article to learn more about Austin Office Space and why we’re the best fit for your needs. To get started, call us at 512-349-0003 and we will be happy to assist you further.

 

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5 Ways to Evaluate Potential Office Space for Lease, Austin

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Are you looking for ways to support the growth of your Austin-based company? Do you want to find a setup that brings your entire staff together? If so, then you need to learn all that you can about how to find office space for lease in Austin.

Doing so can help you understand what to look for when renting office space. It’s all about finding the right service to help you, as well as considering what your company’s needs are both now and in the future.

See below for an in-depth guide listing several key ways to evaluate potential office space for lease in Austin TX.

1. Consider the New Business Model

The 2020 pandemic opened many companies’ eyes to the productivity that employees can have when they work remotely. While nothing beats being in person with your fellow colleagues, overlooking the opportunity for some remote workers will put your company behind.

Applicants now see the beauty in a company that allows them to work remotely, even if it’s only for a couple of days each week. That said, workers understand that the demand of your industry might require them to be in person most or all of the time.

Regardless of whether you choose to offer some fully remote positions or a hybrid concept, be sure to factor it in as you’re finding office space to inquire about. 

Take a headcount of your current staff; how many of them are interested in working remotely? If you are offering hybrid roles, how often will you require your staff to be in the office? Will they need their own designated area/office, or can you create an open desk concept on your office layout?

Asking these questions beforehand can help you in your search. You’ll understand how big of a space you need to fulfill the in and out of your staff.

2. Plan for Future Growth

The current state of your business isn’t what it will look like two or three years down the line. Coming off of the pandemic, most industries are still finding their footing; that means that you can expect ample growth as the economy continues to flourish.

Even with the 2020 pandemic and all of the stress that experts figured it would cause on the market, the economy has recovered rather quickly; so it isn’t ignorant to expect continued growth.

Economy aside, your company will continue to grow year by year. That means a larger staff, which in turn means more technology hardware, more desks, more coffee in the breakroom… you get the idea!

When looking into office space for lease in Austin, make sure you aren’t just fixated on the current size of your company. If you’re going to be renting this space for the next three to five years (the common length of a commercial lease), then you want to factor in the growth potential.

What are your company’s long-term goals for revenue, profit, and growth? What kind of staff headcount would you require to keep up with that growth? Can the office space you’re looking at fulfil that need?

3. Find a Conflict-Free Real Estate Advisor

While they may not realize it, most company owners doom their search for office space from the start by choosing the wrong real estate firm for the job.

Most real estate firms represent both clients (you) and landlords, which can easily become a conflict of interest. They aren’t necessarily looking for the best fit for your needs on the market, they’re just looking for something that fits you best among the landlords that they represent. 

Here at Austin Office Space, we operate on what’s called a conflict-free real estate service, which means we only represent the client (you). We’re focused entirely on the Austin market, scouring commercial listings to find one that fits all of your needs.

The best part? Our service is of no cost to you. We earn a commission paid by the landlord, so all you have to worry about is covering the costs outlined in your new commercial lease!

4. Think of the Amenities

Today’s workforce is all about the perks. They want to find companies that offer innovative and attractive amenities to recruit their top-tier talent. Why? Because it shows that the company is reinvesting in their staff. 

When looking for new commercial rentals, be sure to keep amenities at the front of your mind. Does the area come with any built-in amenities? What amenities does your office currently offer and will they fit in the new space?

Get creative with this. Research some cool concepts for company amenities and find an office space that can help you turn them into a reality.

5. Consider the Location

Location, location, location. Every company owner since the dawn of time has heard that expression regarding the importance of your company’s headquarters.

Don’t sacrifice location for the price. Try to find an up-and-coming area or a community that’s working its way back up; that way you can have a hand in the revitalization of that community.

What resources are nearby? Is there public transportation available for your staff? Are there several options for lunch spots around? 

Find the Perfect Office Space for Lease in Austin Today

Now that you have seen an in-depth guide on several ways you can evaluate potential office space for lease in Austin, be sure to use this information to your advantage.

Take the time to read this article for more information on how to find the perfect office space for your company. Reach out to us right away at 512-349-0003 to get started!

 

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Types of Commercial Lease Agreements: Office Space for Rent, Austin

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Are you looking for a commercial property to lease in Austin? Whether you’re relocating from your current address or opening a shop for the first time, there are numerous rental options available.

The lease agreement is the mechanism by which a tenant can lease a commercial space directly from a landlord. Commercial leases are different from residential contracts and often vary from state to state city to city, and market to market.

If you are looking to lease office space in Austin, this overview of commercial lease agreements will give you more insight into the market.

Inclusive are tips on finding the best office space in Austin, some red flags to be aware of, and leasing costs. So let’s get right in.

Commercial Lease Types

Before you sign on the dotted line, you need to know what kind of agreement you’re getting into. This is because a lease determines what you’ll pay for and stipulates your liabilities as the tenant.

Legally, the three main types of commercial lease agreements are set forth below. In Austin, leases are customarily full service (rent is inclusive of all expenses) or a Triple Net Lease or “NNN.”:

Single Net Lease

Although it’s the least preferred by tenants, the single net lease is one of the lease agreements you may come across. Here, the agreement lists the tenant as the party responsible for paying the building’s base rent and property taxes.

The landlord covers other costs arising from operations in the property.

Double Net Lease

This type of lease agreement is similar to a single net lease. But, only some of the costs are more rationally distributed. In double net leases, also known as ‘NN’ agreements, the tenant pays two of the three property expenses. 

Depending on the contract details, these can be taxes and utilities or taxes and insurance premiums. Either way, the landlord covers the remaining expense.

Triple Net Lease

A Triple Net lease is the most common lease structure in the Austin market. It also tends to be the most complicated lease because the tenant absorbs most of the landlord’s financial responsibilities. In this type of agreement, the lessee pays all property expenses, including taxes, insurance, and maintenance.

On the bright side, NNN leases have lower rental amounts as the tenant covers most of the cost. 

Common red flags in Lease Agreements to be Aware of

Now that you know the types of leases and each category, what remains is signing the dotted line. Before you pull the trigger be aware of these common red flags:

Landlord Financial Woes

General knowledge about the landlord is beneficial. Consider doing background research of the owner’s financial situation. Our brokers are familiar with the Austin market and the reputation of various landlords, but here are a few things you may want to consider:

Look at the current state of the building, check to see if it’s uncared for or there are unoccupied office spaces. Plus, if the tenants have a poor track record of making payments, it could be that the landlord is struggling financially.

Unclear Charges and Rights

Our brokers review every lease agreement for commercial terms. Some landlords don’t clarify the tenants’ rights and net charges in a lease, which are severe omissions. This is because you’ll need them for a financial audit at the end of every year. 

Furthermore, if the landlord fails on their obligations such as maintenance, there must be consequences for these actions.

Poor Delivery Conditions and Repair Terms

Depending on the lease agreement, tenants may inherit the problems that come with the premises. 

If there are problems with major systems like HVAC, plumbing, and electrical,  the lease should stipulate who will cover these costs. 

Ambiguity

Ambiguous statements or varying numbers in the figures can cause confusion.

The best way to avoid misunderstandings down the road is to have a professional tenant representative and your attorney review and assist you with lease negotiation.

Tips on Locating the Best Office Space for Rent in Austin

Settling a lease agreement could be a complicated and lengthy process, and one our brokers are equipped to assist with. These tips will help you minimize errors and negotiate a feasible price offer for the space you intend on leasing. They include:

Consider Tenant Representation

Tenant representatives, such as Austin Office Space, are agencies that represent the tenant during lease agreement negotiations. Other agencies often represent both the tenant and the landlord, which can, at times, cause a conflict of interest for the tenant. Determine Your Requirements

What will you be using this space for? This is the first step to finding a property that suits your business needs. 

If you have a growing workforce, you’ll need a property with growth possibilities.

Send Proposals to Potential Landlords

Before getting to the actual lease signing phase, sending out lease proposals is often beneficial to ensure that the space, and the potential landlord, are a good fit. After stating your terms, you will know if they’re willing to consent to them or not.

It is best to consult with a tenant representative to help you draft a complete commercial lease proposal that you don’t have to bargain for yourself. Tenant representatives understand the market, what concessions a particular landlord might be willing to make, and they can also help analyze any feedback proposals you get to determine the best offers.

 

Cost of Leasing a Commercial Space in Austin Texas

While other factors matter, none is greater than the price because it can break or seal the deal. But, the cost may vary from one market to another, and the Austin office market continues to grow.

Unlike some other commercial real estate markets, landlords in Austin calculate rent monthly as opposed to annually.

So, to get the exact amount you’ll have to pay, add the base rent to the operating expenses, or “triple net”and multiply the figure with property square feet. Then, finally, multiply the resulting figure by twelve if you want to get an annual fee.

Getting the Right Office Space for Rent in Austin

Finding an office space for rent in Austin is a big step, and leasing an even bigger one. Before you start hunting, consider these points and hire a professional to help you succeed. In Austin, tenant representatives are paid out of the landlord representative’s commission, so generally, their assistance to a tenant is at no cost to the tenant.

If you want a smooth leasing experience, please contact us for trusted tenant representation in Austin, Texas.

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8 Mistakes to Avoid When Choosing Austin Office Space for Lease

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For your business to be visible, you need to choose a suitable location. You will need to have information on renting an ideal office for your business and avoid making mistakes.

Even minor errors can be costly to your company. You might think that everything has been thoroughly thought out and that all possible scenarios have been considered. Regrettably, unexpected events can occur that hinder any renting office space plan.

Are you considering relocating your current business to Austin, TX? If so, continue reading this article to learn 8 mistakes to avoid when choosing Austin office space for lease.

1. Not Hiring a Broker 

When searching for ideal office space in Austin for lease, don’t ignore brokers to save cost or move fast. Brokers are essential in the real estate business. They will provide you with all information if you are considering renting office space.

Brokers are also equipped with the skillset to help you find a space for businesses that meets your needs. They will also negotiate a good lease on your behalf. Don’t worry about the cost of hiring brokers; your landlord will cover the fee.

2. Not Understanding Lease Terms

Before signing any commercial lease agreement, ensure you understand all the terms. Failure to do so can result in future conflicts with the landlord or other tenants.

For instance, checks whether the terms are clear, especially regarding using facilities like a gym. If the terms for office space for lease Austin Tx are unclear, you can ask the tenant representing the broker or an attorney for clarification.

Check important things like the type of lease term, nature of rent requirement, maintenance and obligations, assignments, subletting provision, among others.

If the terms negatively impact your business, you can consider negotiating a better deal.

3. Focusing on Price Alone

Though office space budget is one of the main factors to consider when choosing a commercial space, your decision should not solely focus on price. There are other important factors to consider that are beneficial to your business.

These benefits include the location of the commercial space, accessibility, the amenities available in the space, and the versatility of the space. Don’t let the price be the only determining factor. Look for office space for lease in Austin, TX, while considering all your business needs.

4. Overlooking the Future Needs

Many business owners only rent a space depending on their current needs. However, this should not be the case. Consider future growth or economic crisis before signing a lease.

Renting an office space that only meets your immediate needs may hinder future growth or other business dynamics. For instance, you may want to hire more employees and increase your product range. In that case, you may need more space.

So, before signing a lease agreement, ensure a clause is provided to allow you to rent additional space as it becomes available. Also, seek an early termination clause or sublet in case of a shaky financial situation.

 

 

5. Not Being Sure About the Space Needed

It is difficult to determine the amount of space your business will require when starting a new business. It is also difficult to predict the rate your business will expand. The best approach in such a situation is to start with a small space and then rent more space as your business grows.

If you are starting a new business, consider the equipment and furniture your business will need. Consider the number of employees you will hire in the first few years.

Avoid overestimating the space your business requires. Why pay a higher rent rate? Choose a small cheap space that will enable you to grow.

6. Moving too Fast

Getting an ideal commercial space for rent in Austin TX may take time, especially for first-time business owners. A perfect space is determined by the terms and conditions of the lease contract.

When you move fast with the leasing process, you may overlook the terms and conditions. This will bring unexpected results, like being tied to a longer lease. Don’t rush into obtaining a lease contract. Give yourself time to understand the terms and conditions before signing a lease.

Negotiate lease terms and conditions to suit your business.

7. Ignoring Your Business Brand

After considering all essential factors regarding the lease, never forget the business image you want to create. The outlook of your business office must give the right impression.

Consider how your employees interact with clients before choosing the office space to rent. Maintain an impression that best represents your clients even when it cost more.

8. Not Sure About the Duration of a Lease

Depending on your finances, you may want to lease for a long or a shorter period. Take it slow if you are unsure, you may find yourself with a lease that you will not use.

Also, when considering relocating, make sure you allocate plenty of time in search of a new space. Most suitably, 12 months before the current lease contract ends. When the lease contract expires, don’t rush into finding a new space or get stuck in your existing space.

Avoid the Above Mistakes When Finding Austin Office Space for Lease

Avoid making leasing mistakes and choose an ideal office space for your business. Use real estate brokers to guide you in finding an Austin office space for lease that will suit your business needs.

At Austin Office Space, we represent tenants looking for office or industrial space to buy or lease. We handle every aspect of the process, including analyzing your long-term requirements, searching the whole market, negotiating lease documents, touring, advising on site selection, construction management, negotiating terms, and even moving a desk.

Contact us today to help you find the perfect office space for your business.

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What to Consider When Picking Commercial Space for Rent in Austin, TX

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Congratulations on taking the daring step to become an entrepreneur. But do you have office space ready to go? When looking for commercial space options, remember you need the right environment for your management, administrative, and marketing activities to take place. 

Whether you are starting, relocating, or expanding your business, picking the right commercial space is invaluable. However, finding commercial space for rent in Austin, TX is not a piece of cake. There are multiple factors that you ought to consider before making the final decision.

For example, did you know the average rent for offices in Austin was around $36 per square foot in 2019? That can be significant, considering the size of your business. You can’t afford to make the costly mistake of picking the wrong commercial space options.

What are the specific features to check for when choosing a commercial property for rent in Austin? Here are some factors to help you pick a suitable Austin office space for lease.

Location

Do you know the location of your business will significantly affect its growth? When renting commercial space, location is key.

What kind of business do you operate? Do you expect customer and employee walk-ins?

These questions help determine the right location for your business. You want to make your business easily accessible to everyone who needs access to it. The right commercial space location should be located near your customers.

Do you need a central or remote business location? When renting space for businesses, choosing a remote location doesn’t matter if no customers are expected. However, if the flow of clients is expected on a daily basis, you might need to think about picking a remote location.

In addition, check on the amenities provided in or near the commercial space.

Is the neighborhood safe? Is there ample parking and accessible public transit? What about a coffee shop or restaurant for your employees?

You also don’t want to choose a space close to a busy highway or railway if your employees need concentration.

Depending on the type of business you run, you should also determine exactly where your business will be within the property. If you expect many clients, such as in a clinic, salon, or grocery store, you might want to have your physical location on the ground floor.

However, if your business is online and only requires desk-work employees, then any location within a building should suffice. Remember to take into consideration handicap accessible locations.

Check the Price

You already have a budget for the amount you wish to spend on rent. A budget is essential when determining commercial space options within your price range. However, come up with a reasonable budget if you wish to get a suitable space for your business.

Commercial spaces at prime locations, such as central business districts, are likely to cost more than those in remote areas. Also, a less secure neighborhood is likely to be much cheaper than a secure one. You must pick a space that strikes a balance between your must-haves and the price you can realistically pay.

Choosing a costly space can easily lead your business to financial turmoil. If you are a startup, pick a low-to-mid rent range until your business picks up. However, a well-established business can opt for high rent areas, since they already have the capital.

When evaluating the price of commercial space, don’t forget extra costs such as cleaning, water, and electricity.

Services and Facilities

Does the space offer all the services and facilities your business needs to get up and running? Imagine renting a space, only to find out after signing the lease contract that it doesn’t have an internet connection.

Don’t hurriedly choose an office space; create a checklist of the crucial amenities, facilities, and services that are a must-have in the space you are renting. 

After setting up your business in your new office space, you should be able to operate smoothly and without any interruptions. If you find there are interruptions, such as excessive noise, contact your landlord immediately. 

In addition, services and amenities will affect your employee’s motivation and productivity. Think about your employees having to work in a noisy place without air conditioning during hot summer months. Such an environment might increase the rate of employee turnover within your business.

Check on details such as security within the building, neighborhood crime statistics, internet connection, air conditioning, and CCTV surveillance availability. 

Lease Terms

Before signing a commercial lease agreement, do you fully understand the terms? You don’t want to be legally bound after signing a bad lease. Check through the terms and conditions to confirm they are friendly to your business.

If it is a long-term lease, work with a lawyer who will help you understand the terms and conditions of the lease. They can check to see if the terms of your lease comply with your specific needs. 

In addition, you want to check details such as the duration of the lease and break-lease fees, when applicable. Do you need the lease for a few hours, days, or months? Your business goals and needs will determine the time period you need the space for.

Furthermore, you don’t want to lease a commercial space for a month when you only need it for a few days.

Regardless of how great the location is, a bad lease can hinder your chances of establishing a successful business.

Choosing a Commercial Space for Rent Austin, TX

Commercial space is more than just a physical location for your business; it impacts every aspect of your business. It’s vital to review all the factors influencing the functioning of your business when picking a commercial space for rent in Austin, TX.

Here at Austin Office Space, we simplify your search by providing you with a list of available commercial spaces based on your needs. After you have identified a retail space you like, we will organize office tours for you.

Contact us if you need to rent a commercial space today.

5 Reasons You Should Rent Office Space in Austin

5 Reasons You Should Rent Office Space in Austin

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Are you interested in finding a place that your company can call home? Do you want to establish a headquarters to help your staff feel more unified and included? If so, then you need to rent office space in Austin right away. 

Doing so can help you improve your staff’s production, build more morale among your staff, and is even considered to be a crucial step when starting a business. That said, you should focus on finding the perfect fit, not just renting the first option you find.

See below for an in-depth guide listing all the different reasons you should rent office space in Austin and ensure a perfect fit for your needs.

1. There Are Conflict-Free Options Out There

Perhaps you’ve been burned by a landlord in the past and are hesitant to get into a rental agreement again. Maybe you’ve heard horror stories from fellow entrepreneurs on leasing corporate space. 

Whatever the case might be, those situations were likely doomed from the start. If you use the wrong corporate real estate advisory service. 

Believe it or not, many corporate real estate firms have their obligations and agendas when they go to “help” you find your new space. Even though they state that they have your best interests at heart, they’ll only connect you with landlords that they’re also representing.

That’s why you must reach out to a conflict-free real estate advisory service, such as Austin Office Space. Austin Office space is breaking the real estate mold by offering 100-percent conflict-free services for tenants.

This means that we have no financial ties to any of the landlords we connect you to. We don’t receive any divided loyalties from referrals to landlords, which helps us ensure one thing: We’re out to find you the best deal possible.

Traditional real estate firms are focused on things like property management, representing landlords, and managing their own assets. Here at Austin Office Spaces, we’re 100-percent focused on the tenant (you).

2. It Builds a Team-First Mindset

So much talk has been made about whether or not companies get more production out of an in-house worker or remote worker. Some experts point to higher productivity in the office, others point to more productivity when a worker is at home. 

Whatever the case might be, there’s one fact you can’t dispute: remote workers feel less attached to their company and coworkers. The phrase “Zoom Call” is dreaded by most modern workers after having it forced upon them in 2020.

Most workers feel unattached from the “team” they’re on. This will quickly lead to lower production, as they feel their work doesn’t contribute to a worthy cause.

With corporate office space, that entire mindset is shifted. By working and collaborating near their coworkers, your staff will feel the buzz and excitement that comes from working for your brand.

Don’t get us wrong, there’s certainly room for remote workers among your business model; many companies are adopting a hybrid philosophy on that. But there’s no denying that renting office space can help your workers focus on the team, not just their own productivity. It gives greater purpose to the tasks they perform each day.

3. Gives Your Brand a Professional Image

Customers these days are smarter than ever. They realize the importance of investing in companies that are professional, yet personal.

Your digital marketing strategy can help you show the personal side of your brand. But how can you capture the professional side? That’s difficult to do if your company is entirely online. Customers will feel that your company is doing the bare minimum to run a profitable business.

Meanwhile, an in-office workplace offers your brand the professional image that’s needed. It can be a tremendous place to hold in-person meetings with prospects, long-time clients, business partners, and more.

Your office space in Austin will wrap a beautiful bow on your brand: personal and approachable, yet professional and dignified!

4. Embrace Your Community

Another important aspect of your brand that clients look for is to see how involved your company is in its local community. If your company is entirely online, then it’s hard to identify where your community is. 

With an office space in Austin, you know where your community is: Austin! This can help you pinpoint initiatives that your company can get involved in, as well as help you give back to those within your community.

Some companies are even creating quarterly community outreach days where they take an entire workday to help a local nonprofit. That might be something for your business to consider moving forward!

5. More to Offer Your Employees

Not all workers are on board with the push for more remote work. Some are finding it hard to focus or find inspiration when they’re bogged down inside their home.

If your company is entirely online, you might miss out on top-notch talent solely because your business doesn’t have an in-office environment those workers thrive in.

Having an office space in Austin allows you to attract the best and brightest employees by giving them an option for in-office or remote work (or a mixture of the two). Not to mention, your business is located in one of the most thriving cities in America.

Invest in Office Space in Austin for Your Brand

Now that you have seen an in-depth guide and several reasons why you should invest in office space in Austin, be sure to use this information to your advantage.

Take the time to read this blog article for more information on our unbiased tenant representation business model. For more inquiries, please begin by reach out to us by phone at 512-349-0003 and we will be happy to assist you further.

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How to Find an Office Space for Rent That’s Perfect for Your Company

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Most people will spend about 90,000 hours or 1/3 of their lives at work. If you’re a small business owner, manager, or entrepreneur, add 33% to that already whopping total.

With those numbers in mind, it goes without saying (but we’re going to say it anyway) that choosing the right office space is a big deal. Don’t you wish there was a button you could push or a link you could click that would immediately show you the perfect one?   

Unfortunately, if you’ve been considering a move or are looking to open the doors to your first real office space, then you’ve probably figured out that it’s not exactly the easiest wish to grant. 

How will you find the place that will essentially be your home-away-from-home? 

Don’t worry, we’ve got you covered. 

With hard-working, people like you in mind, we’ve put together this guide to finding an office space for rent that will meet your needs now and in the years to come. 

The Self Survey

Before you start your search, it’s a good idea to answer these 4 questions so you’ll have a solid idea of what to look for in an office space for rent.

1. What’s my budget?

You knew this was coming. This is the most important question and it needs a definitive answer. Sort of. What we mean is that you should be defining a range of rent amounts that your business would be comfortable paying. 

It should be noted that the price in most listings for office space for rent is for base rent, which is only for the space. The listed price doesn’t include additional fees or taxes. 

So be realistic and remember to include some cushion in your monthly rent range that accounts for an estimate of CAM fees (common area maintenance fees) and tax, as well as additional charges for amenities like parking. Many office buildings also include electric and janitorial services with your lease and ALL of the fees together are called NNN expenses or “triple net”. 

There are likely to be a few one-time fees involved with moving into a new space such as the issuance of security keys or cards for each of your team members.

2. How much office space do I need? 

You don’t have to know the exact square footage, you just need to consider how many separate parts of an office would be necessary for your ideal and most effective workflow. 

When we say “separate parts of an office,” think about: 

  • How many individual offices are needed? How many people need separate offices with their own doors? 
  • Do you need a reception area that’s separate from the rest of the office? This is sometimes a preference and sometimes a requirement. If you love everything about an office space but it doesn’t have a reception area and you need one, it might be possible to make it happen. 
  • Do you need a break room or lounge? If you have or would like to offer your staff something extra, say a yoga or meditation space, a juice bar, a gym- anything, you want your future space to have room for that. 
  • How about a bathroom? Most buildings will have common area restrooms, which are restrooms that are shared with other building occupants (usually by floor), but if you’re looking for an exclusive one, be sure to keep that in mind because it’s not always a simple matter to add a restroom to an existing space. 
  • Does your business have special needs? No, this isn’t a trick question, we know that all businesses have special needs, but in this case, you want to think about things like servers and copiers. Do you have a massive collection of servers that need a temperature-controlled climate? Maybe your business includes 3D printing and your 3D printer needs its own space? Or maybe you have files that have a minimum or secured storage requirement? 
  • Future expansion? If you expect to add to your team in the next 2-5 years, you don’t want to have to move again, so leave some cushion in your square footage for additional team members.  

3. Where is my ideal office located?  

Location, location, what about location? We don’t just mean “Austin, TX” or “Dirty 6th Street.” Although we can certainly see the appeal for both of those. Yes, you should know which city, but also think about the kind of neighborhood that your business would thrive best in and around.

The downtown metro area? More suburban? Industrial? Is there something that you need to be close to for maximum business model effectiveness?

A big part of the answer to this question should take your target demographic into consideration. Where are your customers? Where would they think it would be most convenient for you to be located. 

For example, many businesses opt to be in what’s known as the “CBD” or “Central Business District” of a city even though it’s mostly a Monday through Friday business potential because they see the advantage of being right where their customers are for most of their waking hours during the week. 

Keep in mind (for your budget’s sake) that you’re very likely to pay a premium for a hot spot CBD location, no matter which city you choose. But it might be worth it, so be sure to consider that option.  

4. What kinds of amenities am I looking for? 

In real estate terms, “amenities” refers to any property feature that isn’t considered essential, but adds comfort, convenience, or enjoyment. It’s a good idea to make two lists for this question. One list will be for things that you can’t do without and the other will be a “wish” list.  

If you need some inspiration for this question, we’ve put together the following lists of “common” and “uncommon, but popular” amenities offered in the world of commercial office space for rent:

Common

  • High-speed wifi 
  • Fitness facilities
  • Showers
  • Secured access, such as key card or code
  • Conference or meeting rooms
  • Covered parking
  • Reserved parking  
  • Concierge or Lobby Reception
  • Lounge areas
  • Bike racks
  • Additional storage space
  • EV parking spaces
  • Green spaces 
  • Dining options on property

Uncommon But Popular

  • Pool
  • Rooftop lounge areas
  • Exclusive restaurant for tenants and their guests
  • Child daycare services

 

Keep in mind that A (amenities) = MMM (more money monthly). This equation is the reason we suggested that you have two lists for this question.

Ask yourself if an amenity is “Must Have” or “Wish For.” You’ll thank yourself for that later. 

These lists are by no means exhaustive, but they’re a good start. 

Putting it all together 

Don’t shoulder this consideration process all on your own, get together with your leadership team and get some feedback from them. Ask them if they have any ideas or suggestions for what they’d appreciate in the next version of a workplace. What kinds of amenities have they always envied others for? 

In addition to the different perspectives and information you’re likely to get from these brainstorming sessions, you’ll score with your team for including them in the discussion. Whether or not their suggestions make the final cut, they’ll feel like they’ve been heard and have contributed. That goes a long way, too. 

Construction, Contractors, and Keeping it Together

Let’s talk about building out space.

What’s a “Build-Out”?

For anyone unfamiliar with the term, a “build-out” is the process of retrofitting an existing space to meet the needs of an incoming tenant.

Build-outs are often referred to by real estate professionals as “TIs” or “tenant improvements.” TIs are the same as build-outs, the name change is really just due to perspective. Tenants see it as building out their space and real estate professionals see it as a tenant making improvements to the space. 

Build-outs come in all shapes and sizes and vary greatly across the different types of real estate (office, retail, warehouse, etc.). 

If you’re looking for ideas about what kind of layout might work best for your team, we can help. We’ve put together some information about the 3 most common office layouts. 

In the world of office space for rent, build-outs will usually follow one of these types of layouts: 

1. Open Concept

This is where walls might get blown out (but not really “blown” so much as carefully taken down) to create a layout that’s about 70% open with cubicles or free-standing desks or tables and seating areas, 20% private offices and conference rooms, with the last 10% being restrooms and breakroom (or karaoke rooms) or any other shared facilities. 

The open setting of Open Concept layouts results in communication usually being more informal and casual, which can be great. But, it also means there’s less privacy and more distractions. 

Construction costs for this type of build-out are typically the lowest of the three, but as with anything, it depends on what the existing space offers and what the incoming tenant wants. 

2. Traditional Private Office 

Basically the opposite of Open Concept, this is the kind of layout that most of us envision when we think of the word “office.” The distribution is the same for shared facilities (10%), but reversed for the other two types of spaces, so 70% private offices and 20% cubicles or desks, including the reception or front desk area. 

This concept is about privacy. It makes for an outwardly more formal mode of communication and supports quiet, focused work. If your business deals with a lot of sensitive materials or information, this is likely the route to go. It’s not a favorite of some of the newer start-ups because of its intended privacy, but that is up to each business. 

Construction costs will vary greatly for this type of layout and largely depends on what you start with. Remember that this is the typical layout of office space for rent up until about 5-10 years ago, so if your new building was built prior to that, it will likely be in this layout, so costs would be less. If you choose a more recently constructed building, it might require putting up a few more walls, which means more money. 

3. Collaborative 

Our final type of layout is a mix of the first two and is a favorite amongst the startups. For this type of layout, there is no “standard” formula for how the space is distributed.  

Instead, the distribution is based on function or task. It includes small and large meeting areas, team “zones,” community areas, as well as a few private offices sprinkled in. The mix of private and open spaces seems to work well and supports the business models of many start-ups which encourages strong company culture. 

Construction costs for this type of layout can be pricy, depending on the complexity of the configuration and how much of the existing space can be used. 

Your broker can help

It’s always a good idea to talk with a professional. Potential build-outs are no exception. Whether or not you’re sure about the kind of build-out or not, speaking with an experienced broker who can give you more specific information and help you get estimates for different options is definitely to your benefit. They’ll have a much better idea of whether a space would work well for what you want or not.

In addition, they’ll be familiar with all the processes involved for getting preliminary bids prior to signing a lease and help estimate the  timing for permitting and occupancy. 

The Low-Down on Listings

Now that you know what you need, you’re ready to start identifying potential spaces that would work for those needs. Right? 

We don’t want to rain on your parade but the truth is that real estate listings are sort of written in code. We’re sure you’ve heard about the residential listings that read “cute mid-century bungalow with free parking” which actually means “really tiny studio space with street parking.” 

The commercial listings can be just as misleading and even more vague than their residential equivalents. Enlisting the services of a real estate professional is an excellent choice at any point, but especially at this point. 

What are the benefits of hiring a real estate professional?

The right real estate professional or agent can make a big difference in many ways. Here’s why:

  • They know your target area and are very likely to be familiar with any vacancies in the market
  • They work for you and have your best interests as their priority
  • They can decipher the code in listings
  • They know the ropes because they have done this many more times than you hopefully will ever have to

And don’t forget that they don’t get paid unless and until you find the right fit for you and your team. 

Going on Tour 

You’ve found a few places that you’re excited about and your real estate agent has set you up to take a look at potential new office space for rent. It’s easy to get caught up in the potential of a space and forget to ask key questions or see a potential problem. We’ve got your back.

The following is a list of features and functions that you should be aware of. They may not all apply to your specific situation, but most of them should.

On Property or Outside the Space

(These are features of the property to check on)

  • Ease of access (including ingress/egress, how many access points, and their positioning)                                                     
  • Parking                                                          
  • Condition of property (paint, paving, sidewalks, elevator, stairwell, parking lot, anything that stands out to you, good or bad, make a note)         
  • Traffic and Noise                                                       
  • Common area conditions (incl. trash and restrooms, if shared)                                                    
  • Security?                                                       

Inside the Space 

(These are features of the space to check on)

  • Air conditioning/HVAC system. If the space is fitted with A/C and it’s not already on, turn it on as soon as you open the space so you can see if it gets cold, if it makes a lot of noise or smells, or if there are any obvious problems.  
  • General condition (clean/not clean, does it smell, any noticeable damage)
  • Configuration – easy to work with or lots of work to make it work for you?                                           
  • Lighting and electrical check: electrical box (if possible), lights, outlets, and anything else hooked into these systems
  • Plumbing/water fixtures check water pressure for sinks, drains, toilets (TIP: flush a piece of toilet paper so you can see if there’s an issue)
  • Storage area/s                                               
  • Ceiling: Damage? Water spots?                                                        
  • Wiring: Check for existing cable, telephone, internet lines                                                    
  • Noise                                                                                                         

These lists of questions are just to start you off and point you in a productive direction. Discuss them with your real estate agent before and after the tour and make any adjustments that you see fit. 

The Office Space For Rent is in Sight

You’ve found The One. The office space for rent one, that is. The next step is where your real estate agent will take the lead. It’s time to make a deal. 

The Proposal

This is also referred to as the “LOI” (Letter of Intent) or just “the offer.” The first offer is usually given by the prospective tenant. You’ll sit down and discuss the terms that you, your contractor, and your real estate agent are comfortable with. 

The terms included in each LOI are intended to be deal-specific but a few things that are standard include:

  • Official name that will be on the lease 
  • Rent amount (per square foot or a total monthly amount)
  • Term dates
  • Square footage 
  • Common Area Maintenance fees and what is included
  • Parking allotments and price, if any
  • Commercial insurance requirements
  • Brokerage commission fees (this outlines who pays)
  • Build-out information (your agent can provide this)
  • Security Deposit

Proposals will be exchanged between you and the landlord (or their agent) until an agreement is reached. 

Tenant Incentives

Also referred to as “Lease Incentives,” Tenant Incentives are concessions sometimes offered by landlords to encourage a new tenant to enter into a lease or to sweet talk an existing tenant into renewing their lease. They’re not guaranteed to be available but if offered, should become part of the lease agreement. 

Tenant Incentives can be anything from free rent to a commitment to contribute a certain amount to a tenant’s planned improvements. Your real estate agent will advise you as to whether your offer should include a Tenant Incentive and what kind. 

It’s a Sign!

Well, it’s TO sign. Once the terms have been agreed upon by both parties, the lease will be drafted and it’s time to sign on that dotted line! 

Congratulations, You Did It!

You have your brand office space for rent in the place you had hoped for, with the configuration that will work best for you and your team, and you got a great deal on terms. That is quite an accomplishment and definitely something to be proud of! Now it’s time to make it happen!

Let Us Help!

If you’re interested in leasing office space in or around the Austin, Texas area, we’d love the opportunity to fill the role of the real estate agent in your story.

Our team has exclusively represented tenants in Austin for over 20 years. We have the experience, the knowledge, and the resources to become a resource and an asset to you and your team. 

Click here to connect with us so that together, we can make this story a reality! 

Site Selection in Austin’s Current Market

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When people/companies are coming to Austin for the first time, they’re often wanting guidance on where or what areas to place their first office. We find the common idea surrounding such is that being near downtown or being central to all the hustle and bustle that makes Austin unique would be ideal but we think for most companies this is actually a mistake.

Why?

First, when looking at a map, downtown Austin is actually somewhat south of the central Austin market. Not only that but downtown Austin is about 30-40% more expensive to lease in when you factor things like ease in accessibility for your workforce and clientele. Truth be told, it can be quite challenging to get employees committed to driving and parking in the downtown area. In contrast, it can be a more appropriate choice for companies who looking to attract a young workforce like financial services, high tech industries and legal firms because of the more desired “walk to lunch”, “post work happy hour vibes” that are readily available. It’s no surprise Austin’s Downtown atmosphere is energetic, urban and fun, but as a company, you have to have a specific reason to choose that location over a more easily accessible suburb of Austin.

Our preferred area and or best suggestion would instead be Northwest Austin, right around the Arboretum and the Domain (a high density, high traffic, office, shopping and residential center). More specifically, around the cross streets on Highway 183 and Loop 1. This is very near the demographic center of the Austin MSA.

Additionally, Downtown Austin, much like many other metropolitan cities in the US is getting very pricey to live in. So most employees choose to reside in surrounding suburbs like Cedar Park, Leander, Georgetown, Round Rock, Pflugerville, and Hutto because they have great schools, and are much more affordable to live in. So as a business, if you won’t pull and recruit from the entire marketplace then the Arboretum and Domain areas are your safest bet because you can still have people from South Austin that are willing to drive a bit North. Another consideration, if a company already has an office in Austin, it’s important to identify where the bulk of that employee base lives. We like to use a “heat map” to figure out where the epicenter of that area is. In general, it’s a good rule of thumb to know people living and working in Austin are really desiring the most efficient way to get to work. If you’re coming from California it might not be that big of a deal to travel 45 minutes to work but in Austin, people will quit if their commute time is that long in exchange for a 15 minute or 20-minute commute. All in all, it’s vital to consider where your people live in order to keep them happy and retain your workforce.

Lastly, the consideration of your client base, especially for medical and retail customers, is crucial. Will they be able to easily find you? Will they be able to get there in a considerable amount of time? and Will they have convenient parking?

Have any further questions? Please give us a call. We’re here for you.