Considering A Build To Suit Monroe Office Lease?
When looking for a new place to call home for your Business in Monroe, you have four options that are readily available at any time:
- Lease out an office that is vacant
- Purchase a building and potentially renovate the interior
- Build your own office and own the building
- Utilize a build to suit lease
If you are looking to create a new office that is completely designed and customized to the needs of business, but do not wish to fork over the large upfront payment for construction, then a build to suit lease may be the best option. In this particular option, the company would look for a commercial real estate developer to completely design and create a new custom building on a site that is preferred, but will then lease the property from that development company. In this scenario, the business never actually owns the property.
Since this building is designed with the business in mind, space efficiency and location will not be an issue as the completed commercial real estate will provide answers to all previous issues the company may have faced at their last location. You can also be assured that the newest cost-effective energy systems and technology will be a part of this long term project. Employee retention can occur much easier as the entire building can be built with the company in mind, even from an exterior standpoint, projecting their image and branding wherever possible.
With all of this being said though, you must weigh out the pros and cons. A build to suit lease will be more of a long term lease as the market today is showing that properties may have some vacancy from a rebound in the economy. On top of this long term lease, build to suit leases are typically more expensive than renting space from a pre-developed office. Although, in the end you may end of saving money in the long run due to the new energy efficient utilities.
Each company will want to look at the four available choices to choose the one that best fits where their company will be in the near and distant future. Each choice does have their advantages and disadvantages, but if the company can benefit from the uniquely designed office structure, then hiring a Monroe Commercial Real Estate Developer may be the best option to get this project underway.