business space for rent in Overland Park

6 Differences Between a Business Space for Rent in Overland Park and a Retail Space

When thinking about an office space location, it is important to remember that convenience is key to a business selling a service. Which means that if you are a dentist, optometrist, veterinarian, or any another type of professional who wants to set up an office in a retail space, this could help bring in costumers because of the location’s convenience and accessibility. However, when trying to decide if a retail style space is good for you it might be a good idea to keep a few points in mind when making your decision, as outlined in the article “One Lease Does Not Fit All,” which narrows down the important differences between different types of spaces and leases:

Gross Income Reports

Most spaces that have a retail lease may require the tenant to include a report of the amount of sales the tenant is projected to make in a term (monthly, quarterly, or annually). This could potentially be avoided if the tenant makes it so in the lease. It is worth noting that these kinds of reports are not significant for most professional office leases.

Operating Expenses

It is important to understand the differences between the retail space and an office space when looking at what you are actually paying for. Most retail spaces make the tenants pay for everything from maintenance to insurance on top of the base rent. Whereas in an office lease—depending on the type of lease—the tenant has different payments and usually only pays operating expenses on top of the base rent.

Maintenance

As discussed above, the tenant pays for the maintenance in most retail spaces. In a professional office lease the maintenance and repairs are usually controlled and paid for by the landlord, who should make sure that the office space is up to date and standard quality. Tenants should make a point of including this in their lease.

Changing your name

In most cases the landlord in a retail setting must approve a change in the business’s name. This isn’t true for most trade names in office spaces, where the landlord generally considers it irrelevant to the lease.

Redesigning the Interior

Design of the interior space in a retail store is very important to the overall image of the property. Design can affect how many people enter the store, which in turn affects the income of both the store and the general foot traffic and profitability of the whole property. Because of this, interior design might be one of the things that the landlord will want the power to sign off on. This isn’t the case for office space, where the interior space or other alterations might not be significant to sales or the landlord’s bottom line.

Competition Restrictions

In most retail spaces, the landlord will not let you set up your business in a premises where there’s competition near by. Some places might have an exception, but when the landlord sees a potential problem with the gross sales in a certain market, they could refuse you a space. On the other hand, this kind of radius restriction does not happen often in the world of professional office space.

With these points in mind, you can be better equipped to make a decision on whether or not you want to open a space in a retail section or a professional office space. Once you have made your decision, be prepared for differences in leases and landlord relations.

If you are looking for professional office space in Overland Park, KS, give a commercial real estate broker in Kansas City a call at 913-685-4100!

10 Questions to Ask Yourself Before Signing a Lease for an Office Space in Overland Park, KS

Signing a lease for a new office space can be a big move for a small company., whether you are upgrading to a new, hipper office or needing a downgrade to fit your more modest needs. Before you sign that contract here are ten questions you should ask yourself, as outlined in the article “Top 10 Tips for Planning your Office Space.”

1. Did I try to negotiate?

Negotiation is important to any big decision when dealing with landlords. Contracts should fit your terms and theirs, so don’t be afraid to ask for a break clause in your contract as well as a rent-free period.

2. Is this the location I want?

Location is obviously very important to a business. Not only must it be a good place to do business but also a place that attracts potential clients or an attractive area to work for new employees. Consider places for lunch, banks, places to entertain clients, parking, accessibility; these are all important to look for.

3. Is the office right for what I am doing?

Ask yourself what you will be doing in the office space. Will you be meeting clients or just holding staff meetings? Depending on what you use your office space for you could consider different types of office options.

4. Do I have the financial stability for this lease?

Financial stress can really hurt a new business. So before you go signing a lease for a brand new office remember to look at the price tag and weigh out what that means for your business. There are many alternatives to a traditional office and considering different options could make a huge difference.

5. Do I feel secure in this building?

Security is something everyone needs to consider when looking at new office space. You may want to consider facilities with security for employees or lockers where staff can place their things. Also will the building be safe both day and night? Especially when staff and clients are coming and going.

6. Have I considered all the different types of offices?

What kind of staff do you have? How many people will be coming in and out of your office? If it is just you working in the office it might be wise to consider office communities or some sort of work hub. They promote introductions, meeting new people and networking in ways that other offices do not.

7. Can I knock down walls?

How much freedom over the space will you have when you move into your office? If you want to make renovations could you? In a fast paced and changing market it is important to have an office that represents you as a company.

8. How much space do I need?

Variety in workspace is very important to productivity, creativity and energy. So when trying to decide on your new office space, make sure that the offices have everything you need from places for meetings to contemplation spaces for personal assignments.

9. How much will the extra stuff cost me?

It is important to remember that when renting a new office that there are many things that come after the initial purchase. Things like internet, phone lines, kitchen dishes and utilities could all come into play after the initial purchase. It’s easy to forget that you might need a coffee maker after moving in all those computers and desk chairs.

10. Have I thought about the future?

One thing that is very important to new business is to think whether the space will be the right fit five to ten years from now. Prepare to commit to your lease; you need to think in both the long-term and the short-term goals of the company.

Make sure to look these questions over before signing the contract for your new office space!

If you’re looking for business space for rent in Overland Park contact a commercial real estate broker in Kansas City at 913-685-4100 for more information!

4 Tips for Your First Office Space Lease in Overland Park Negotiations

Finding an office space to rent for your growing business means opening a new chapter in your future. While the real estate market has been improving recently, there are still some advantages that tenants can leverage in negotiations, and the best way to obtain these advantages is to be prepared. Here are a few negotiation tips to consider, as outlined in the article “How to negotiate your first office lease”:

#1 The Lease Term

One of the most important elements of a lease is deciding the lease term. A stable business should consider a longer lease if possible, because landlords prefer these long-term leases and it will give you a little more leverage in negotiations. However, if you are just starting out, you may not want to commit to a long lease because new businesses typically need some flexibility while their trajectory is still uncertain. Unfortunately, most landlords prefer multiple year leases, so this does lower your negotiating leverage and might prevent a landlord from agreeing to certain requests, for example, improvements to the space. But fear not, there are landlords out there willing to offer short term leases, so be sure to look for those and try to find as many options as you can in order to compare.

#2 Evaluate Your Requirements

Before you start seriously looking at spaces, it is important to have an outline of what kind of office space you want for your business. How many private offices do you want? Do you need break rooms or a kitchen area? Conference rooms? What kind of office design are you envisioning – will desks be in a traditional office layout or a more innovative arrangement? There are pros and cons to both of those office layout options: traditional cubicle setups are more cost-effective, but more open spaces are becoming popular as a way to promote creativity and give an office a modern feel. Other things to consider when coming up with your office space layout is what kind of customer or client interactions you have, and how much privacy is needed.

#3 Study the Market

Do some real research on what is out there before you settle on a single space. A good way to really get a grasp on the market is to work with a professional. Even if you feel like you can find a space yourself, it is helpful to have a real estate broker to assist you in navigating all of the lease terms, clauses, fees, etc. Bear in mind that tenant’s brokers are paid by landlords, so bringing your own representation to the table might help you get the best deal possible.

#4 Work for Favorable Terms

Take nothing at face value, particularly the rental rate of a space. One thing to ask for if you are looking for a longer lease term is a few months of free rent, which lowers the overall costs for you but allows the landlord to still charge the listed rental rate. Also talk to the landlord about allowances for improving or customizing the space. Finally, ask about what options your business has if you grow rapidly during the term of your lease and need more space – for example, can you expand into another space on the property.

As a small business owner, it is important to enter the search for a rental space with an idea of the overall process and what you can do to get the best deal possible.

If your business is interested in business space for rent in Overland Park, give a commercial real estate broker in Overland Park a call at 913-685-4100 to find out about our office space options!

4 Things to Consider When Hiring Recent Grads at Your Office Space in Kansas

This time of year, plenty of recent college graduates will be on the hunt for jobs. Here are a few things for your small business to consider as you look for potential employees in this group, as suggested in the article “Handling Job-Hungry College Students: 3 Key Factors to Know When Hiring”:

#1 Be Careful of the GPA

Of course big gaps in GPAs can be indicators of candidates’ levels of qualification, but it is important not to over-rely on this measurement. Consider other areas in which the student might have excelled or other qualities that make them fit for this position.

#2 The Importance of the Interview

If possible, try to conduct multiple rounds of interviews with recent graduates. Consider starting with a group, then inviting back a few of these individuals for another round, with each interview becoming increasingly focused on the specifics of the job until you narrow it down to a few great candidates.

#3 Find Your Own References

Know that references from candidates are probably going to be biased, so do a little research and see if you can find some other people that could provide a more unbiased opinion, for example a college professor whose class they attended.

#4 Look for Passion

Remember that though resumes are important, so is the enthusiasm the candidate shows for the position. Be open to individuals who are really passionate about the work you’re doing and how they can contribute.

Try to do the little extra work and research when looking at recent college grads, and hopefully you will be able to discover loyal new employees who will make good contributions to your business.

If your business is interested in business space for rent in Overland Park, give a commercial real estate broker in Overland Park a call at 913-685-4100 to set up a tour of one of our spaces!

5 Lease Renewal Strategies for Your Overland Park Office Space

Lease negotiation is something that should be taken seriously by businesses, especially considering that real estate can be the second most expensive cost for businesses. Particularly when thinking about negotiating a renewal for your lease, be wary of the ways that the market can drive up your rent or an aggressive landlord can push for unfavorable terms for your business. Don’t be hasty to sign an agreement; make sure you really understand what you’re getting yourself into, especially in a long-term lease. Often tenants end up at a disadvantage because they find it an administrative hassle to take care of the lease negotiation, but they also want to avoid the time and expense involved in relocating. Here are a few tips for you as a tenant to educate yourself before entering renewal negotiations with a landlord, as suggested in the article “Five secrets for successfully negotiating a commercial or retail lease”:

#1 Don’t fall victim to bullying.

Landlords often try to strong-arm their way into more favorable terms for themselves by approaching tenants early and proposing a lower rate if the tenant doesn’t use a broker. Even though hiring an experienced broker might be an expense for your business, it could save you a lot of money in the long run because they have the expertise to help you negotiate a more favorable lease for your business.

#2 Consider the costs the landlord.

If you as a tenant are thinking about relocating, consider that it’s not only a financial burden for you but also for the landlord, which gives you some leverage. Landlords have to pay construction costs, potentially retrofit the space, and spend a lot of time and therefore money preparing, marketing, and negotiating a new space. On top of that, commercial space does not normally yield a profit for the landlord until nine months after the previous tenant leaves. You as a tenant need to be aware that the landlord is just as anxious as you, if not more, about the money, time, and risks associated with you vacating the space.

#3 Do your research.

Even if you know you don’t want to relocate, It is still important to research the cost of relocation opportunities to both give you some leverage and help you reevaluate your space needs.

#4 Think about the bottom-line costs.

If you’re starting to feel like renegotiation is a hassle, take a moment to calculate what a poorly negotiated lease could cost you over the course of 5 or 10 years. In addition to thinking about your overall rental rate, also think about other factors, such as expansion options, landlord responsibilities, taxes, and operating expenses. These kinds of things can really hurt a tenant, especially if you’re not used to dealing with leases and unprepared to work for favorable terms.

#5 Start early.

Conducting all this research and negotiating effectively is a long process, one that you should aim to finalize at least six months before your lease expires, which means it’s worth thinking about around two years before the end date of your lease term. Additionally, taking charge and being proactive shows your landlord that you are seriously committed to finding the best deal for your business and you’re not willing to simply accept the terms they offer.

If your business is approaching the point where you need to start seriously thinking about relocating or renegotiating, consider a few of these tips to give you an upper hand in the negotiation process.

If you are interested in business space for rent in Overland Park, give us a call at 913-685-4100 to find out more about our office space in Overland Park, KS, or to even set up a tour.

3 Ways To Cut Office Space in Overland Park Costs

The goal of every prospective tenant is simple: to find the best office space for their budget. In order to achieve this aim, the tenant has to understand what constitutes office space costs and how to handle these costs effectively. Another important aspect of this equation is seeking professional advice throughout the leasing process, which helps tenants – especially those new to the commercial real estate market – to make solidly informed decisions. Here are three factors to consider when trying to understand the bottom-line cost of an office space, as suggested in the article “Office Space, If You Only Do Three Things”:

#1 The Location

One of your top priorities should be to thoroughly search the market for the most cost efficient but visible locations. Remember that location will have an effect on both your rent and the cost of labor. These kinds of costs will vary greatly based on the market or a property owner’s situation. It is important to thoroughly evaluate a marketplace go to make sure that you will be satisfied with the office you choose and to let landlords know that they have competition for your tenancy.

#2 The Lease

The next step in managing costs for your office space is the actual lease transaction. Make sure that all of your objectives are met by the lease and work on negotiating favorable terms with an eye on current market conditions. Sometimes great deals are available in unexpected places with a solid negotiation strategy. In poor markets, landlords often are more willing to offer concession packages or flexible terms to put tenants in their buildings. Look for ways to create leverage and take advantage of market conditions by doing research and considering your timing.

#3 The Layout

Finally, it is important to remember the effects of design and construction on your costs. You want to position yourself to be as in control of these processes as possible. Build out costs and office space efficiency can be major contributors to the cost of an office space. Consider ways that you can do more with less space by taking the time to evaluate the most efficient design for your space and the most cost-effective construction options to save yourself significant costs in the long run.

Professional Expertise

The process of achieving cost efficiency in an office space requires professional help. In the leasing phase a broker or tenant representative can help you identify an ideal space and negotiate a favorable lease. For projects revolving around the design of your space, having an architect or space planner in your corner can help you make decisions about build outs based on space efficiency strategies. During the actual buildout process, working closely with a construction manager can also result in you getting exactly what your business wants for the best price. Consider also the possibility of legal counsel with experience in real estate to help you finalize a lease contract.

Acquiring a good lease for your business takes a lot of time, research, and planning. It is important to identify exactly what your major expenses are going to be and seek the proper guidance to help you manage these expenses. Taking the time to do this legwork before signing a lease can help your business’s finances in the long run.

If you are interested in business space for rent in Overland Park, give us a call at 913-685-4100. We can also help your business calculate square footage needs so that you know the size and kind of space that your business requires. Call us today to set up a tour or talk about how we can help design and office space to meet your business’s needs!

2 Potential Layouts for an Overland Park Office Space

Designing the layout of an office is an important part of setting up a functional business. It can be difficult to balance employees’ need for privacy with the desire to create an atmosphere of open communication. Recently, the trend in office furniture and design has been shifting from traditional layouts to accommodating concerns about making offices more teamwork friendly. Here are a few ideas to utilize in your small business space to create a productive and welcoming environment, as suggested in the article “Office Workplace & Workspace Designs That Work”:

Open Space

The traditional image that comes to mind when imagining a large office space is a maze of cubicles—but this has become associated with an overly divided and sanitized space that blocks communication between employees and stifles corporate culture and personality. Designers have been trying to change this approach by creating open office spaces that allow employees to see each other, experience natural light, and communicate more easily. An option with this layout is also to add a small meeting table to the middle of a department space for meetings, as well as adding more private spaces for confidential gatherings.

Hub Layout

Another way to foster natural communication and gatherings in an office is to create a central hub at which these interactions can take place. This area can contain shared equipment such as fax machines, copiers, and scanners, and a break area with coffee, snack machines, and water coolers. If you want to make it more comfortable, consider adding tables and chairs to encourage informal meetings, birthday celebrations, or just casual conversations. This can also be the location of a company bulletin board, employee award postings, and any other important messages. By centralizing shared resources, you can encourage interactions between employees who might not otherwise talk.

Office design has to be a strategic process that starts when a business first moves into a space and continues throughout the duration of a tenancy. Too often it can be dictated by random expansion as new employees are brought on board. The most functional office layouts are created by carefully considering employee interactions and productivity at every step of office changes with the ultimate goal of encouraging collaboration and maximum efficiency.

If your business is interested in a business space for rent in Overland Park, give us a call at 913-685-4100 to find out about our available Overland Park office space for lease!

Determining Your Leverage in Negotiations for Business Space for Rent in Overland Park

An important part of successful commercial lease negotiations is understanding where your landlord is coming from and using that information to determine what your leverage is. Here are a few questions to ask yourself to figure this out, as suggested in the article “Develop Negotiating Skills”:

Why does the landlord need to rent out the space?

Did a business recently fail in the space and now the landlord needs to find a new tenant in order to stay financially stable? Have there been issues with the location or a high turnover rate? Educate yourself a little on the recent history of the space.

How will the landlord benefit?

A landlord might be extra motivated to rent the space if there is some extra benefit for them. For instance, if you are particularly compatible with another tenant who is considering leaving their space if a business like yours doesn’t move onto the property, they might be more motivated to rent to you.

What leverage do you have and what leverage does the landlord have?

Once you know a little bit about the landlord’s motivations for renting you the space, make yourself a simple list—a column with leverage you have and a column with leverage the landlord has. Consider both sides’ vulnerabilities and pricing power, and use this information in negotiations to determine where you can be tough versus where you can be flexible.

Doing a little research and planning before negotiations can help you enter them with more confidence!

If you are interested in office space in Kansas, give a commercial real estate broker in Overland Park a call at 913-685-4100!

Qualities of a Good Workplace Team in an Overland Park Office Space

Many business today are realizing the advantages of teamwork and trying to foster more collaborative environments in their offices. If you are committed to growing teamwork in your workspace, here are a few common traits of team-oriented staffs to keep in mind, as suggested in the article “Building a Sense of Teamwork Among Staff Members”:

Honesty – people tend to trust each other more when they feel that they can be more open about things, which leads to tighter knit groups that avoid suspicion and gossip.
Acceptance of Work – while most people would rather choose what to do at work, good teams are made of people who can accept assignments from others, which is a more realistic work model. People who work on teams are also often held accountable by peers to get work done on time and done right the first time.
Goal-oriented – people who work well on a team have already collectively accepted their purpose and direction and collaborate to achieve these aims. A good team leader motivates a team by explaining clearly how their specific project goals fit into the bigger picture of the goals of the company.
Results-directed – a good team constantly asseses their progress, rather than just getting mired in the process of something. By consistently assessing their results and adjusting any future action accordingly, a good team continues to operate smoothly and effectively.
Empathetic – good team members are also able to put themselves into each others shoes and consider how their actions and attitudes effect other members of the team. They are also able to listen respectfully to each other’s points of view and keep in consideration the needs and work styles of their coworkers.
Hardworking – the reality is that sometimes projects take longer than expected, but a good team is able to work together until a job is finished. Some teams can begin to fall apart when things get down to the wire and some members start to contribute less time and effort.

If you are trying to promote a team oriented environment in your office, consider how you can promote these values among your employees—often this kind of mentality starts with good leadership! If you are interested in business space for rent in Overland Park, give a commercial real estate broker in Overland Park a call today at 903-685-4100 to learn more about our available spaces and talk about setting up a tour!

Simple Steps for Finding a New Kansas City Office Space: Part II

When you are planning to relocate to a new space, it is important to break the process down into logical steps. Here are some suggestions for steps to consider, as listed in the article Planning for a New Office Space in the New Year:

Budget

This seems like an obvious thing to review and consider when planning a move, but there are often things that businesses forget to consider when moving. For instance, if you are leasing a space it is important to research current market lease rates and expected trends in drops or increases. Do not let yourself be surprised by unexpected expenses. Here is a list of top budget considerations to go over

Security deposit and first month’s rent
Gathering your balance sheets, profit/loss statements, etc. for a landlord to look at
Phone and data cable cost estimates
Internet costs
Insurance – both property and general liability.
Cost for movers, equipment, and furniture
Any updates to websites, social media, or business cards
Cost of build out or any finishes to a space.

Free Services

Think about asking a commercial office tenant representative to help you with market research, area information, trends, and any other questions that might require expert insight. Doing this will help you save time and money in the long run. Sometimes business are hesitant to seek help finding a space because of fees, but often they do not realize that a commission will be paid whether they seek help or not because leasing commissions are often negotiated in advance between listing agents and building owners.

Make sure you do some preparing before even beginning your actual search for office space!

If you need help finding a business space for rent in Overland Park, give a DDI Commercial real estate broker in Overland Park a call at 913-685-4100!