Minneapolis is the largest city in Minnesota. Next to St. Paul, these two cities are popularly known as the Twin Cities. With more than 392,000 people, Minneapolis is known for its vibrant nightlife and boasts of many high-rise office buildings. Numerous companies are located in the downtown area in skyscraper buildings. If you are looking for a new Minneapolis office space for lease, there are several factors to consider. Remember that the employees in your company need a workplace wherein they can learn, collaborate, focus, and socialize.
Benefits of Having a Well-Designed and Maintained Office Space
The appearance of your office space reflects the culture of your company. It portrays how you value your employees and business as a whole. If the employees like their office environment, it contributes to their productivity, health, and happiness. A Minneapolis office space for lease that is well-maintained helps increase employee satisfaction, lower employee churn, and sees fewer people taking sick days. Also, employees that are satisfied and engaged make positive contributions to the company. Therefore, keep your employees in mind when choosing an office space.
Location and Accessibility
Location is a vital factor when finding the best office space for you. Choose an area that is accessible to your employees and clients. It should also be accessible by both private and public transportation, so people can get to and leave your office with ease. Also, an office that is within the business district of Minneapolis contributes significantly to its accessibility. It can improve the morale of the employees if their workplace is close to coffee shops, restaurants, malls, bars, and other establishments.
Consider Office Expenses
Budgeting for your business is a tricky thing. Aside from the cost, you need to have money for office supplies, purchase furniture, decoration, services, and utilities. Does your business use a fax, commercial printer, or other office machines? Include these items in the cost of lease or purchase. Other factors to consider are printed materials and signage. You will need to put up a logo sign and company name at the door. Your staff and employees need business cards as well. Also, factor in-office signage such as brochures as a way to advertise your services and special offers.
Determine the expected expenses and think of ways to reduce costs. Find out what the office space lease includes and if you can negotiate any deals. Some contracts cover common areas, security, parking, and utilities.
Length of Lease
Choosing a longer office lease may save you money as the owner may give a lower monthly rate. However, make sure that the space is adequate for 1 to 5 years. If you are entirely convinced that the area is sufficient for the goings-on of your business, a long lease is beneficial for you in the long run. You are locked in, particularly when the rent increases. Moreover, you avoid the inconvenience and costs of moving the office again.
If your company outgrows the space before the expiration date of the lease, determine how you can break it legally. Usually, a lease has exit terms. Find out if it is reasonable. Know how much the exit provisions will cost you. Make sure to ask the owner about it before signing any documents.
