Business is booming, which means you need extra workspace, an opportune location, and a newly tailored lease agreement to reflect your current needs. Notwithstanding, the commercial real estate market in Orlando is not something you have the schedule or skillset to tackle before your current lease expires. If you think relocation or expansion is the right move for your business, here is your guide to getting it done.

Audit Yourself First

Your future location will depend on a mixture of your current and projected operations. If you run a small business with fewer than 50 employees, you will need anywhere from four to six months of time dedicated to making the move. With this size workforce, you could secure anywhere from a two to ten year lease depending on your objectives. In extreme circumstances, it may be prudent — albeit risky — to secure a month-to-month contract.

On the other hand, if your business exceeds 50 employees, or pushes over the 100-man mark, you could be looking at six to ten months of relocation time. This projection, however, is assuming that you are leasing — relocation will take longer when buying and selling space. Since you will need a space that supports a sizeable staff, you will also be looking at lease negotiations starting at as few as five years. When understanding how the size of your workforce will impact the type of building to go after, you must also consider:

• your growth rate
• visibility and accessibility to your customers
• your staff work style (desk space, technological needs, etc.)
• where your employees live
• the breakdown of your staff seniority (how many employees are executives, entry-level associates, etc.)

Weigh Your Options

With a detailed picture of what your next location will look like, you can actively start your search for commercial opportunities in your city. But do not just skim the surface of each listing; compare the details that will make the biggest difference to your company, such as:

• Location and how it will affect accessibility for your customers
• Current size and the ability to expand (expansion rights in the building)
• Technological capabilities and the cost to make updates
• Location and how it will impact employee commutes
• Amenities like a kitchen and private restrooms
• Expansion, relocation, and termination rights

Encourage key staff to give input and inform them about major updates throughout the selection process. Once you have started seriously considering properties, make sure your employees have photos, videos, and digital models to picture their fit and voice their honest opinion.

Prepare to Play Hardball  

There are multiple analyses that can help you narrow properties and project which will suit your staff and your brand. But once you find strong candidates, you will need to perform a structural analysis as well. Do not let any red flags, failed inspections, or code violations slip past you in the process. And keep in mind that any issues you do uncover can be used as leverage during negotiation.

To successfully negotiate your chosen commercial property, you need to have an advanced level of local market understanding. However, you also need to sharpen your acumen throughout the process and harness that knowledge to your advantage. Otherwise, you could end up in a deal that does not suit your long-term goals or provide the flexibility necessary for your company’s growth rate.   

Find a Commercial Real Estate Partner in Orlando  

Instead of taking time away from your current business to find a new space, partner with the commercial real estate professionals at Acquisition Consultants. As your tenant representative, we will join our local market expertise with a needs analysis of your business to compile a list of personalized commercial fits. Once you weigh the options and select a space your company can call home, our real estate professionals will negotiate the terms that suit your brand in the long term. To keep the stress out of relocations, expansions, and renewals, contact Acquisition Consultants today.