The office brings out the character of your brand or business. Since your office space is visible and accessible to customers, employees, and visitors, you want to make it presentable and be suitable for everyone’s needs.
Setting up your office based on this goal entails a lot of customization in different aspects. You need to have the ideal location, size, well-coordinated colors and theme, specific corners for various work functions, and perfect lighting and furniture all set up.
You also want individual rooms for managers and meetings to exude professionalism, and at the same time, feature all the amenities that can spur productivity in the office.
You can achieve every bit of detail you have in mind under the build-to-suit setup. In fact, in the real estate industry, office space for lease using this type of setup has seen increased popularity and adoption, allowing you to translate your business’ imagined office look and feel to reality.
Here’s an infographic to help you grasp the concept of build-to-suit setup and see the value it brings to your business.
What Build-to-Suit Means Exactly
A build-to-suit setup refers to office space that’s constructed based on the tenant’s exact specifications. Instead of moving to an existing property, you lay down what you want or need in your office-to-be before your provider starts the construction of your office.
On the part of property owners and developers, build-to-suit leases protect them from risks of constructing an office structure without the guarantee of being able to find a tenant. This makes build-to-suit setups practical for both you and your office space provider.
Why You Need to Invest in Build-to-Suit Setup
Among the whole range of benefits for you, one of the most pivotal is the fact that you can save more money as a tenant in a build-to-suit office than if you were to buy and develop your own real estate property.
Real estate can be an unpredictable market. Depending on the location and other conditions, interest rates go up and down, and the cost of building materials and labor can be expensive. Instead of having to deal with these challenges, you can simply go into a build-to-suit lease agreement to preserve your capital and use it in other activities that can have a direct impact on your business.
Another way that build-to-suit lets you save resources is through tax deductions. Since rental is considered an expense that reduces your income, you can be entitled to tax deductions with this setup. The rate of tax deduction varies depending on how much rent you’re paying, but to give you an idea, home office deductions in the United States can reach as much as $3,000 annually.
Apart from financial savings, build-to-suit offices come with several advantages for business owners like you. These include:
On the one hand, owning real estate, such as commercial properties, is a long-term commitment. It may involve making a high down payment, building a structure out of it, and keeping it in good condition. When you put your money into real estate, you’re hoping that it will help you make a good return on investment (ROI) and grow your wealth down the line.
On the other hand, leasing a build-to-suit office is more short-term since there’s a limit to your lease period. If a new business opportunity arises during your lease period, such as an expansion of your company size or market, you can quickly work out more leasing options with the property owner or your provider instead of having to find a new space for your growing business.
In terms of design, build-to-suit offices are constructed with flexibility in mind. They mimic the current working preferences and styles of modern-day businesses and professionals.
As such, you’ll find the right balance of open spaces that make team collaborations possible, as well as enclosed areas for individual or small group work. The use of space-saving furniture means it’s easy to rearrange or reconfigure them for multiple functions around the office.
It’s worth mentioning that while owners of build-to-suit offices have a general idea of which trends to incorporate in developing flexible workspaces, your own design considerations and specifications always come first. Build-to-suit developers are adept at executing whatever you envision for your office to give it that distinct personality.
Build-to-suit offices are also ideal if you have particular needs for your business or industry. If you’re a BPO company, you may need a fully-serviced office with 24/7 connectivity and security, plus concierge-like amenities for your business partners and employees. With a build-to-suit lease, you can arrange a highly customized setup with your provider.
Build-to-suit setups are designed to last for long periods since they’re fitted with state-of-the-art technology. Apart from allowing you to meet high-quality standards in office design, an innovative office structure also helps in increasing the productivity levels of your employees since they’re able to make use of tools that enable them to work fast and smart.
Other Things to Know and Remember
Before getting into a build-to-suit lease agreement, make sure you’ve sealed the deal for the following:
Look for providers that offer at least a 5-year lease period. This should give you enough time to let your business settle and gain some ROI, too.
Commencement and Target Operation Date
You need to take into consideration the time it will take to build and complete your office, which will signal the start of your lease period. Generally speaking, the construction period is about two months, and it may take another month to plan and design the space.
This is why it’s crucial that you carefully examine the build-to-suit setup proposal with your chosen provider months in advance. You’ll want to make sure that all pre-construction and actual construction tasks are properly organized, with specific and realistic timelines indicated as well.
Build-to-Suit Redefines Business Office Design
Build-to-suit setups are the future of office design because of their apparent benefits, monetary and non-monetary wise. With this kind of lease, you’ll have experts working with you to help address the specific needs of your business, so it can flourish in its day-to-day operations.
This means you don’t have to concern yourself with the extensive work of office construction and unit maintenance (utilities, janitorial, internet, etc.). Instead, you can turn to office space for lease services, just like what Figari Group offers. Figari Group follows a unique and effective process in building and planning an office setup that’s perfect for your business nature and activities.
Schedule your free and personal consultation with our creative build-to-suit team at Figari today!
Michelle has been in real estate for more than 6 years and she’s handled various deals under residential and commercial real estate. She now handles Marketing and Business Development for Figari’s business lines. Aside from meeting clients, she enjoys traveling and practicing photography.