At Morris Southeast Group, we’ve been in the commercial real estate business for decades. During this time we’ve seen a variety of office design trends come and go. 2016 looks to be another year focused on flexibility and collaboration, when it comes to office space. Check out some of the top office design trends to get some ideas about upgrading your current space.
With a variety of research being released that attributes health problems with sitting for long periods of time, companies are promoting standing desks as a healthy alternative to 8+ hours per day of sitting at a desk. Standing desks also offer a much cleaner and more modern look, compared to the traditional bulky desks, which were prevalent in most office environments for so long.
While the executive suites may not be there quite yet, companies are investing in open concept designs for the majority of their office spaces. This helps to improve communication and foster team culture.
Office designers are now bold in their color and texture choices. Gone are the days of drab carpet and dark wood desks. Today, designers are using a variety of materials and colors to create a more inspiring work environment.
Flexibility is paramount in today’s business world. While years ago, permanent layouts were the norm for commercial office space, now modular office components are being used that can be mixed, moved, and stacked to offer an almost unlimited amount of potential configurations to promote creativity and collaboration.
As technology continues to become more wireless and mobile, companies are looking for ways to create designated lounge areas. These areas are meant to make work more enjoyable and relaxing in hopes to stimulate collaboration.
If you walked in any large office building 10 years ago you were likely to see wall-to-wall cubicles. Today, cubicles are disappearing and being replaced by more versatile, non-assigned seating. Companies are ditching cubicles and instead using multipurpose areas that can be utilized for a variety of things from multimedia presentations to small breakout sessions.
If you’ve been into any of the new, hip restaurants in South Florida, you’ve likely seen a shift to community tables as opposed to large numbers of smaller tables. This same trend can be seen in office settings where people are looking for more social interaction while at work.
As you can see from these popular office trends, companies are looking for ways to breed creativity and flexibility, while also promoting a more relaxed and collaborative environment. If you’re looking for new office space that shares some of these hot trends, contact Morris Southeast Group, a leading South Florida Commercial Real Estate Services Firm today at 954-474-1776 x 303.
If you’re in the retail market and looking for commercial space you likely have a variety of options. One of the most important considerations is whether to lease or buy your retail space. This is an extremely important decision and one that should not be taken lightly. In this article, we’ll try to outline the benefits and drawbacks of both leasing and purchasing a commercial property for your business.
The following elements may cause you to decide to purchase as opposed to lease your retail space.
While a lease may sometimes be more beneficial in terms of cash flow in the short term, a purchase is usually cheaper over the long-term.
Are you interested in doing major renovations or additions to the property? If so, you’ll likely be better off purchasing a commercial property as opposed to leasing. When leasing you’ll need to obtain permission from your landlord for any major changes.
For many retail businesses, location is everything. If you find a property that is for sale and not for lease, in a perfect location, it may be best to purchase to secure the property for the long term.
If you’re in an area where you think land will increase in value, it will likely be better to own the property rather than rent it. This is especially true if you’re able to secure a good deal on the purchase price.
By purchasing a property you’re able to utilize a variety of tax benefits including interest deductions and depreciation. It’s best to check with your tax professional for details on purchasing as opposed to leasing commercial property.
On the opposite end of the spectrum, the following factors, if relevant, could lead you to consider leasing as opposed to purchasing a commercial property.
A lease may be a better option, especially in the early years, for business owners lacking significant cash flow. This is due to the fact that upfront capital outlays are usually lower with a lease compared to a purchase.
Renting may be more beneficial, if you’re not sure the property you’re interested in will meet your future needs.
With many leases, maintenance duties are the landlord’s responsibility. These can include items such as roof repairs, heating and cooling maintenance, structural issues, and plumbing repairs. If you’re not prepared to deal with these costs, leasing may be a better option for you.
Depending on your company’s credit rating you may have difficulty being approved for a mortgage on a commercial property. While you will likely have to meet certain income restrictions to be approved for a lease, the standards are usually lower when compared to a mortgage.
Even if you’re interested in purchasing a property, you may have difficulty finding an adequate location. In this case, a short-term lease may be a better option until a suitable location is found for your business.
If you’re still unsure whether leasing or purchasing a retail space makes more sense for your company, don’t hesitate to contact South Florida’s leading commercial real estate brokers, Morris Southeast Group, today at 954-474-1776 x 303.