Timing Your Office Requirement

if you are looking for a new office or looking to expand or upgrade or relocate
then you should ideally begin your relocation process early, because you will be
conducting business as usual during this time, you should begin your relocation
efforts 3-6 months before your actual move date. By planning well in advance time
will be your ally and not your enemy.
If time becomes an issue, because most economic
concessions are made right before the deadline of the transaction. You should avoid
telegraphing/highlighting your need to close the deal quickly as landlords are typical
they can read this and then it may not be as sweet for you.

Attempt to work out
alternative solutions with your existing landlord rather than reveal that you are
under time pressure if you need an extension of a few months.
Allow enough times
to accomplish all of your objectives by establishing a time line of the leasing
process. Here is a quick overview of the process. Based upon how much time you actually
have to accomplish your move, you may have to compress the time frames suggested.
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Week 1
Develop a complete definition of your requirements. This could include meeting with
all your managers and department heads and perhaps your own architect.
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Week 2
Begin to survey the market and locate available properties that meets your requirements.
Begin inspection tours of the most qualified properties and follow the advice of
your agent as he knows more than you always.
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Week 3
Begin making preliminary proposals and open negotiations. Commence the space planning
process, allow one to two weeks turnaround time for plans. Cost estimates can take
up to another two weeks but you need to be on your architects back here as your
lease rent may be kicking in soon and you may also need to negotiate some rent free
period with the help of your agent.
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Week 4-5
Study the letter of intent, leave and license agreements, lease agreements and the
owners property papers so that you know what you are getting into soon. The legal
process can take anywhere from 1 week to 3 weeks and specially when the same is
given to the lawyers there is no time line they adhere to and whatever rent free
period you have negotiated usually goes down thanks to them.
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Weeks 5-6
Once you have the Agreements in place should be also getting your office planning
and layout planning completed. Weeks 6-8 Lease contract negotiations take place.
If all has gone smoothly you could find yourself at the point of signing a lease.
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Weeks 8-11
Working drawings for your tenant improvements, based upon previous iterations of
your space plan will begin after lease execution. Allow two to three weeks for these
plans to be completed.
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Weeks 11-14
Permits and any required engineering can take from 2 to 6 weeks (or longer) depending
on the various approvals required. Some owners will start construction upon application
for permits to expedite the occupancy.
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Weeks 19-26
Depending on the size of the job you should allow 8 to 12 weeks for the physical
construction.
Based on this typical time line, you should
allow 19 - 26 weeks for relocating, if everything goes very well. If time is short,
there are some short cuts to compress the time required, but they may be more costly.
Another alternative is to limit your choices to buildings with space that comes
very close to your needs and making only minor alterations, or looking for sublease
space meeting your requirements.