Lee & Associates recently published a report on the market for office space in New York City for the previous quarter. The report is rather interesting, but I really enjoyed their map of New York City with relevant statistics. The graphic shows the inventory, vacancy rate, availability rate, and direct asking rate compared to the ten year averages. What does all this mean to the average small business? I will tell you!
Make Sense of Your Work Space: Do Away With the Clutter
LuLulemon may seem like it targets a niche of yoga inspired apparel, but it has become a branding empire with a $12.1 Billion dollar valuation and revenue approaching $1.5 billion in 2013.
Check out our new interactive infographic of Coworking spaces in New York City. If you are interested in learning more, click a space to see additional pictures and more information.
Whether your business operates out of a retail space, a warehouse, corporate office space or a food truck, one thing is certain. Appearances are everything! Customers form an early impression of both you and your business before they even walk through the door.
Here at TheSquareFoot we help clients out not with with leasing office space, but also with everything else they need to get their business ready for business. One thing that everyone thinks about when setting up their new home away from home is the paint for office space
With Father's Day having recently passed, it made me reflect even more (I do everyday) on my father who passed away almost 6 years ago. I began to think about my life and where I have been since that fateful day. I pondered if I would have continued my career path in a secure corporate job with a known path or still ended up in the position I am in today as an entrepreneur with no visibility beyond the next several months. When I read Andy Dunn from Bonobo's post about The Risk Not Taken, it really hit close to home and helped me crystallize how so many variables ended up being a catalyst for my transition.
Matt Schexnayder is a guest contributor from Austin startup, SpareFoot. SpareFoot makes renting self-storage easy. Their free marketplace lets customers find and reserve storage units online.
The 2013 Entrepreneur Roundtable Accelerator Summer Class launched this month at Microsoft's New York City office in midtown on 52nd and 6th Ave. It took place at Microsoft's office at 1290 Avenue of the Americas, which was very impressive. It had a sleek design and was very welcoming and warm. The look and feel of the midtown office space were about what you would expect from the tech giant, surprise meeting and collaborative areas around every corner-sprawling richly illuminated corridors, and simplistic finishes throughout.
Getting accepted into an accelerator is an exciting time for a startup. Visions of the program being the last piece of the puzzle to becoming a young, hip company loved by all enter the mind. Dreams of what the daily life will be like and how the company will be lifted into a new stratosphere due to the connections one will make during the program flow through the mind.
We are obviously big fans of both startups and New York City commercial real estate here at TheSquareFoot. Take the HELM is an awesome opportunity put on by our friends at the New York City Economic Development Corporation and we encourage anyone thinking about moving space in the next year to apply...a quarter of a million bucks to the winners ain't too shabby!
Patrick D. Murray is the manager of media partnerships at Reis Reports
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Have you ever rented commercial space in a retail center? If you have, you know how many moving parts there can be in locating the best options, securing the space, and then modifying it to your business's needs. If you haven't ever rented retail space, we've created this fun infographic that lists most of the steps and the time frame each can take. We thought using the most popolar board game in history as the backdrop seemed like a no brainer!
It seems like when anyone gets into the startup game, one of the first things that they begin to hear is that they need to have thick skin. A hard exterior is necessary protection from all the "No"s and "That won't work"s that s/he is going to hear over the ensuing months, and hopefully years.
With Fresh Markets, Trader Joes, Central Market, and Whole Foods adding Houston locations, it creates a large impact on Houston retail space. A few tidbits about the infographic on Houston specialty grocers -
About a month ago TheSquareFoot moved our base of operations to New York City to begin the Entreprenuers Roudntable Accelerator. The following are some of my initial thoughts and impressions after the first month:
Hello from New York City. For the next several months, TheSquareFoot will be going through one of the premier accelerators in the country: Entrepreneurs Roundtable Accelerator. We will be spending time working on our business with some of the best and brightest (mentors and advisors) helping us along the way. Alumni from previous classes have grown into great business receiving funding from VC firms like ff Venture Capital, First Round Capital, 500 Startups, FirstMark Capital, and more.
I joined my first startup about 4 years ago, early in the life of that company. We had about 50 paying enterprise customers using the product and who willing and eager to share feedback to make the product better. While I was there, we were lucky enough to grow and continued to add customers to our subscription service. We grew enough to get our cash burn down to zero and eventually became profitable (20mph – 100mph). However, we faced many challenges along way. Some of which at the time made it seem like we were never going to make it through.
After reading all of the recent articles about the dominance of Apple stores and as avid Apple users ourselves, we decided to take a deeper drive into the numbers. Not only are most of the facts pretty mind boggling, we believe there is a trend emerging. In retail real estate, the anchor tenant is usually a big box retailer like Nordstorm or JC Penny, that gets a sweetheart lease rate and terms in order to attract traffic and smaller tenants. However, it is smaller Apple stores (many of which are under 6,000 square feet), that are becoming the attractive brand to attract traffic and tenants to retail real estate. It will be interesting to see if Apple is able to reduce its average price per square foot and how it might effect the big box retailers.
We had the pleasure of touring CultureMap's Houston office space, located on Wood Street in East Downtown. Given CultureMap's hip and trendy vibe, our expectations were high and the offices did not disappoint. With hardwood floors and the sun shining through the windows, the space has a happy, warm tone. The main area of the space includes a spacious open room for the writers to work and a large kitchen, where almost any meal could be prepared. In the back is the living room type set up with great artwork and great looking (and very comfortable!) furniture. We finished off the tour in CultureMap CEO Stephen Newman's office and saw why CultureMap is inspired by great design.
Since Trader Joe's just opened a new store in The Woodlands and is in the process of opening another store in Upper Kirby, it was an opportune time to see how big Trader Joe's really was. The Houston retail real estate Trader Joe's uses is 14,000 square feet on average, which is 40% bigger than their average store size (10,000 square feet) across the country. This is an interesting departure from the norm, since many feel Trader Joe's competitive advantage comes from its small store size.
For the next generation of workers, an office space is much more of a destination location than it was in the past. Businesses that hire Millennials have likely found that if they design an office lease that is conducive to collaboration, they are better able to attract and retain these younger workers.
If your company is preparing to move to a new office building, it’s prudent to keep in mind what you might want to do in terms of building out your office space. Landlords have different approaches toward how they will reimburse you for this kind of work. Expect your real estate broker to handle the negotiations with your landlord.
Are you starting a new company and in need of a place for your headquarters? Perhaps you have an established company that is starting to do very well and you want to move to a new and improved location. In such cases, you will want to consider looking for executive office suites in Houston to make a good impression.
Do you have a great idea for a new company? If so, you may be able to work from your home temporarily as you work out your business plan and figure out how many people you will initially employ, what kind of audience you are targeting with your goods or services, and what your supply chain or other logistical requirements will be. As you become more certain about your plans and the requirements to reach your goals, it will be time to get some Dallas office space.