5 Considerations to Make When Shopping Flex Space
Flex space is typically for companies who are looking to have a warehouse and industrial space with manufacturing under one roof. The idea of flex space is to have multiple business needs and processes under one roof which can allow for a more efficient business flow, but it may not be the right setup for every business.
Here are some factors that need to be considered when looking to the possibility of utilizing flex space:
When looking at a potential space, it is important to factor in the size of the building and if it will fit your current need or could handle possible expansion in the future as your business grows. Tenants should make sure to verify the square footage as it can be calculated differently from landlord to landlord. What is important when looking at the square footage is the actual amount of usable space for you.
It is important to note what comes with the space. If it is not new construction, then the previous tenant may have made improvements to the property to suit their needs. This could include HVAC which may be a gift or a curse depending on how properly it was maintained. It is also important to understand who has responsibility for existing systems as well, whether it be the landlord or the new tenant.
3. Exterior of the Building
While most of what is happening at the building may be happening on the inside, it is important that the outside matches your needs as well. This includes looking at the outside space from a logistical standpoint if there may be heavy truck traffic or frequent deliveries. Also, a yard may be needed if your company works with carriers who will leave trailers to be unloaded later.
Parking is another consideration. There should be enough for current workforce and more for future growth. It is important also to clarify with the landlord who maintains the outside.
4. Building Capabilities
Aside from being able to contain everything that you plan to put inside the building, you need to ensure that the building can withstand what you will be doing inside as well, especially if you will be doing some type of manufacturing. Depending on the machinery and equipment you will be using, there may be certain types of power sources you need, and the floor will need to be able to withstand it as well.
As with all forms of real estate, location is incredibly important when it comes to flex space as well. Do you need to be closer to customers, vendors, or maybe corporate offices? No matter the case, this is something that should be determined by looking at multiple factors and deciding what will be the most important for your business.
Taking these into consideration can be a lot to work with, especially if you are looking for your first space, but Coldwell Banker Commercial can help guide you on the path to the right space to fit your needs.