That “Offices for Sale” sign catches your eye, at the same time sunlight beams into the windows of a modern glass office building. It isn’t too far from your company’s current, but somewhat crowded office. It could be the new home of your business – but at what cost to you and your bottom line? How do you decide what to spend on your new office?
While looks and location are important there are some other practical matters that determine what you will spend on a group of offices for sale. These can include:
- Ease of parking (or lack of it) can affect whether or not a client, customer or employee remains your client, customer or employee.
- Do you have plans for selling your company? Make sure your lease is clear about owner responsibilities.
- The offices for sale should allow room for your company to grow beyond its current size.
- Proximity to businesses that can distract from your business goals – i.e. you are opening a non-profit for substance abuse, but your potential new location is next door to two bars.
- Factor in potential operational costs like heating and cooling of the building, in addition to your investment (many rentals include these costs).
- Determine if sharing the offices for sale with another company would work for you. It could mean lowering costs to get the workplace you desire for your business.
Spending on offices for sale around the United States vary based on the above factors and others. Local per-square-foot costs for 2015 in Phoenix and Scottsdale can range from $21 to about $23, but this is subject to many factors and, of course, should not be taken as conclusive data.
Lastly, it goes without saying, you should have the financial resources and a well-defined plan to support your spending on those offices for sale. Should you need assistance with implementing a plan of action, contact Menlo. Our agents and brokers are here to help you.