A Perfect Space Analysis

If your needs are changing maybe this will help you to sort it all out.

The Perfect Space

Of the total square footage what per-cent would be:

• Office                              ______%
• Showroom/Display Area      ______%
• Warehouse                       ______%
• Storage                            ______%
• Other:                             ______%

Estimated total square footage        ______ Sq Foot

• Parking spaces needed   ______
• High Speed Internet access needed:   Yes/No
• Hours of access needed:    Normal/24 Hour
• How important is expandability:  Very/Not Very
• Signage:   Building/Marquee/Directory
• Total Rent Range (Monthly) $________to $_________
• Optimum Location would be _____________________
• Offices or open area:  Offices/Open Area
• Other     _______________________________________

Note: Space utilization recommended standards exist. For example; the office of a president is usually 250-400 sq ft, V.P. 150-250 sq ft, clerical (open space) 60-110 sq Ft. As a general rule of thumb, estimate 175-250 sq ft per person in your business, not counting display or warehouse area if applicable. E-mail admin@prudentialcresdb.com for a full list.

The Mental Picture

Forming a mental picture will help you know the right location and space when you see it. If you do not find the perfect space, the mental picture will help you quickly evaluate the alternatives. Consider the following:

• How close do I want to be to my home? (Don’t laugh! proximity to the owner or executive’s home is one of the heaviest weighted parts of a location decision. After all, it is your business).
• What amenities should the area or space have for myself, employees and customers?
• What image do I want to project to staff and customers?
• What are any special requirements of the business?
• What size will the business be in three years; staff, storage, work areas, etc.?
• Do I expect any big changes in the business?
Once you have a good mental picture of the perfect space, analyze your current space.

The Current Space Analysis

Of the total square footage how much is:

• Office                          ______ %
• Showroom/Display Area  ______ %
• Warehouse                   ______ %
• Storage                        ______ %
• Other:                         _______%

Square footage of the current space _____ Ft-Useable

• Parking spaces available                            ______
• Speed Internet access available?               Yes/No
• Hours of access allowed:                         Normal/24 Hour
• Can space be expanded?                         Yes/No
• Current signage option:                          Building/Marquee/Directory
• Total monthly rent (Include CAM chg):      $________
• Optimum Location:                                 _________________________
• Layout is primarily:                                 Offices/Open Area
• Other                                                   ______________
• Othe                                                    ______________
• Other                                                   ______________

Considerations:

• Is too much expensive space used for storage?   Yes/No
  If yes, elaborate____________________________________
• Does the interior and exterior portray the Image you want for your business? Yes/No
  If no, elaborate____________________________________
• Is there wasted space in the existing facility? Yes/No
  If yes, elaborate____________________________________
• Is the facility to small in some areas? Yes/No
  If yes, elaborate____________________________________
• Can the current facility be expanded? Yes/No
• What are the top two advantages of the facility?
  ___________________________________
  ___________________________________
• What are the top two disadvantages of the space
  ___________________________________
  ___________________________________


• What are the consequences of a move?  _________________________

The Decision Point

Of course, before a final, informed decision to stay, move, or build a facility is made, you need more input. Other professionals you should involve would be your attorney, accountant, banker and commercial real estate broker.

A commercial real estate broker can coordinate the entire team and the entire process of finding, building, buying or leasing a business location, leaving you to concentrate on running your business.

At Prudential Transact Commercial Realty we work as “Transaction Brokers”. That means we are focused on structuring transactions that provide a win/win for everyone. We inform you of your options; help you sort through the consequences; assist you to make your own decision as to what is best for your business; and work with your attorney and accountant to make it happen.

Brokers are typically paid by the landlord or seller. In most cases there is no cost to the tenant or buyer.

We hope this text helps. If you want further information or assistance, call us at (386) 253-8565, or e-mail admin@prudentialcresdb.com

We can get it done!

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