Is Build-To-Suit Office Space The Right Choice For Your Company?
Every company starts somewhere, and most start in office space that would be generously called a garage. Limited money, space and resources are the first chapter for many businesses, and keeping a tight belt can be crucial to a company’s eventual growth. If the company starts growing, it may soon be time for better office space. Businesses have a number of options for office space expansion. While build-to-suit office space is not for everyone, it’s an option that Capital Realty Group urges businesses to consider.
Build-to-suit office space is an intriguing alternative to the more common modes of office expansion, such as leasing preexisting office space, refinishing an old building, or buying or constructing an entire building. While the first option is often the smartest for businesses with limited credit and an uncertain future, all three options run the risks that come with old, used buildings and (for the last two) owning real estate. Build-to-suit office space may be the best choice for your company.
What is Build-to-Suite Office Space?
Growing businesses make agreements and draw contracts with developers early in the process of building a new structure. The business and builder collaborate on the design of the office space, suiting it exactly to the businesses’ needs while keeping it marketable. After construction is complete, the business moves into the space, leasing it for however many years the contract requires (or longer).
Build-to-suit office space is very customizable, allowing companies to improve efficiency and cultivate their personal brand and company culture. However, while it avoids the total risks of building and owning real estate, it is still an expensive venture that requires upfront capital, good credit and time commitment. While companies can lease preexisting office space less than six months in advance, the planning for build-to-suit office space spans at least two years. A company must have the time, money and confidence to last that time.
While not for everyone, build-to-suit office space may be what takes your growing enterprise into the big leagues!
How To Use This Information
Do you have more questions about build-to-suit office space or are you interested in leasing office space? Then talk to our Denver and Houston real estate experts at Capital Reality Group, who are thrilled to help you move your company forward. Call our Denver office at 303-573-0377, our Houston office at 713-452-9000 or contact us online.
What would your dream office space look like?
Categorized in: Houston Real Estate News
This post was written by Capital Realty
