Harbor Group International’s Post

How to reduce office costs without sacrificing quality 🤔 CFOs, FDs, and finance teams are all under pressure to cut costs without compromising on the quality of their workspace. But how do you reduce office expenses and keep morale high while staying in a space that reflects your company’s values? 💡 Explore every office option; serviced, managed, or leased. 💡 Compare costs for each, and don’t forget to factor in what's included vs what's extra: rent, rates, service charges, fit-out, furniture, cleaning, utilities, telecom, legal fees... Some spaces bundle everything, while others have hidden costs. 💡 Keep an eye on new developments; Manchester has recently launched some incredible new office spaces. Early movers can often secure discounts as these spaces try to attract their anchor tenants. If you’d like a FREE workspace report with detailed costs on office spaces aligned to your needs, book an appointment with our team 👇 https://lnkd.in/eE5mTS2X

PBC is approaching completion for three Flex office spaces in London, all under 10,000 sq. ft. Watch this space for more details.   According to a recent EG report, only 13% of office transactions were larger than 10,000 sq. ft in Q1 2024 compared to 21% in Q4 of 2023. A trend that looks set to continue in 2024.   Landlords realise that tenants expect a lot more from their places of work; they want boutique-like spaces that don’t look like offices. These spaces below 10,000 sq. ft, with high-quality break-out areas, are bolstering the office market, EG even describes it as the Flex Effect, and they are proving integral in driving people back to….the office. #FlexOffice #LondonRealEstate #BuildingConsultancy

I often get this question: Stefano, why did you out and spend money on a new office?  As a team dedicated to finding the perfect office space for our clients, we know firsthand the importance of a well-suited environment. Even when it came to finding our own office at The Tenant Advisors, we followed the same process:  • Needs Assessment: Clearly defining our requirements, budget, and timeline.  • Strategic Search: Identifying prime locations that aligned with our goals.  • Negotiation: Securing favorable lease terms and amenities. While coworking spaces might seem convenient, they often come with hidden costs that can quickly add up. For example, premium pricing for private offices, limited customization options, noise distractions, and additional parking fees or limited parking availability. In the long run, these factors can make coworking spaces more expensive than having your own dedicated office. Whether you should invest in a dedicated office or opt for a flexible space depends on your company's specific needs and growth stage. There's no one-size-fits-all solution in commercial real estate. We have worked with clients moving in and moving out from flexible spaces. I create tailored office space solutions for my clients and I offer free consultation. DM me if you'd like to discuss your needs! #commercialrealestate #projectmanagement #tenantrepresentation #costarica

Cost-Saving Tips for Businesses Seeking Affordable Office Space Searching for a budget-friendly office? Here are some tips to follow: Location: Look into areas with lower rent or new business hubs. Shared Space: Use shared office locations or coworking areas to cut costs. Negotiate Lease Terms: Negotiate with landlords for flexible leases and more affordable rates. Size Optimization: Estimate your space needs and select an office size that fits without extra expenses. What's your biggest office space pain point? We might just have the perfect solution! #AffordableOfficeSpace #CostSavingTips #BudgetFriendlyOffice #OfficeSpaceTips #LocationCosts #SharedOffice #CoworkingSpace #LeaseNegotiation #FlexibleLease #OfficeRent #SizeOptimization

Remote work is reshaping the future of real estate. As demand for larger homes with dedicated office spaces grows, companies are rethinking their office space needs. This transformation brings both challenges and opportunities in the residential and commercial real estate markets. Explore the key trends driving this change. #RemoteWork #RealEstate #HomeOffice #CommercialRealEstate #FutureOfWork. Read more at https://buff.ly/4bUDCzW

Colliers releases: Retail, Office and Industrial Market Views for H1 24. The Lansing office market is still struggling, we are reporting a second half- year period in a row with over 100,000 sf negative absorption. Average asking rental rates are holding steady (dropping just -$.16 to $16.04 psf. While office leasing activity has increased, tenants are still navigating post-Covid flexible work environments. Therefore many tenants are reducing their footprints when renewing leases, while others are delaying making long-term lease decisions. Those tenants making decisions, are more apt to downsize space requirements and choose to enhance their work environment with increased amenities.

Miami Office Market Resilience Miami’s office market is experiencing a unique situation where there’s a notable increase in the amount of new office space being delivered (12-month deliveries), even though there’s also a negative net absorption, meaning more space is being vacated than leased. This has led to an increase in vacancy to 8.8 %, still better than most markets throughout the country. Despite these challenges, rent levels have remained stable, which suggests that the demand for high-quality office space is still there, reflecting resilience in this market. #MiamiRealEstate #OfficeMarketTrends #CommercialRealEstate

Our Workspace team recently secured a lease on a managed basis at Grove House in Marylebone. ✅ This deal reflects a trend among businesses moving away from traditional flexible office spaces. 🚀 Commenting on the lease, our Senior Asset Manager, Jessica Leigh, said: “This is a growing trend for fitted spaces, providing an all-inclusive rent structure covering rates, service charges, utilities, and comprehensive office management services. This new approach is proving highly attractive to companies looking for greater convenience and efficiency in their workspace arrangements.” The shift toward fully fitted, managed office spaces allows tenants to enjoy a streamlined experience, with everything from cleaning, maintenance, and waste collection to teas, coffees, and fresh fruit boxes included. #CommercialRealEstate #OfficeSpace #WorkspaceSolutions

Avison Young's Q4 2024 Office Market Insights report reveals key trends shaping the office market landscape. Here are the top three takeaways from the past quarter: 1. **Flight to Quality**: Trophy office availability decreased by 22% year-over-year, indicating a persistent trend towards quality spaces. Midtown East in Tampa, exemplifies the strong tenant demand for premium office spaces with a remarkable 78% of the space being pre-leased. 2. **Absorption**: The quarter saw a net absorption of 186,295 SF, driven by significant lease transactions. Notably, there were 4 lease deals exceeding 30,000 SF, contributing to this positive absorption trend. 3. **Vacancy**: Secondary and tertiary markets are facing challenges as tenant interest remains concentrated in primary markets offering diverse amenities. Areas like Mid-Pinellas, Bayside, Gateway, and the I-75 corridor struggle with vacancy rates exceeding 20%, highlighting the ongoing disparities in market demand. These insights underscore the evolving dynamics within the office sector, emphasizing the importance of quality, absorption rates, and market-specific vacancy challenges. #OfficeMarket #RealEstateInsights

Office Tuesday The COVID-19 pandemic has reshaped how we think about office spaces. As businesses adapt, so must our office properties. Here are some trends to watch: Hybrid Work Models: Many companies are adopting a mix of remote and in-office work, affecting space requirements. Subleasing space has increased and landlords could tap unrealized demand. Flexible Spaces: Demand for co-working spaces and adaptable office layouts is on the rise. Health and Safety: Enhanced ventilation, touch-less technology, and sanitization measures are becoming standard. Location Preferences: Suburban office spaces are gaining popularity as companies seek less crowded areas. How are you adapting your office properties to meet these new demands? #realestate #business #commercialrealestate #investing #diversify #build #grow #challenge #results #service #professional #modesto #california #ca #stanislauscounty #centralvalley #investor #invest #REI #passiveincome #turlock #sacramento