How Long Does It Take To Move Into A New York City Office Space?
The timeframe of your leasing process will mostly depend upon the space requirements of your organization. Acquiring and building out new space can take anywhere from 6 months to a year and a half. Acquisition of “As is Space” can take as little as 3 months up to 1 year.
In most cases a firm has three options to consider.
1. A firm can Renegotiate or Renew their lease in their current space.
2. A Tenant can relocate within their current building.
3. Lastly they can move to another building entirely.
The best way to approach the office space acquisition is by understanding the systematic process involved. START YOUR SEARCH FOR YOUR NYC OFFICE SPACE LEASE
The following outline can be used as a guideline:
Preliminary Orientation (Can take 1-3 weeks):
- Develop a definition of the tenant’s requirements. This includes meeting with all of their managers and department heads, if necessary.
- Review and counsel on market conditions
- Thorough review and abstract of your existing lease documents.
- Prepare a preliminary market survey report on available properties which match your requirements.
- Evaluating of a lease renewal or taking other space in your present building.
- Assembling the team. Selecting, and coordinating with, the space planner/architect, telecom/data systems persons, lease counsel and any other required or desirable participants.
Planning Stage (Can take 1-6 Weeks):
- Conduct space planning and establish true usable square footage. This calculation should include both current square footage usage and expansion requirements.
- Infrastructure assessment must be completed. This can include requirements for air conditioning, electrical, computers, phones/communication systems, floor loading etc.
- Construction cost analysis.
Lease Negotiations (Can take 2-8 Weeks)
- Basic business terms are agreed upon.
- Legal counsel is employed to review the lease and negotiate.
- Space planning and construction should be taken into consideration when negotiating the lease to ensure maximum benefit for your company.
Construction of Premises (Can take 1-5 Weeks)
- A smooth transition between architect/Space Planner and Landlord approved construction teams are required.
- A constant vigilance of timing is required to ensure that data/telecom and movers are coordinated properly.
- Reassessment of the process at this time is required.
- Any special task such as subleasing any expansion space is reevaluated and begun.
A trained specialist can help you locate and move into your new space in a quick and efficient timeframe.
Call Erik Alberti at 212-672-1640 to utilize his expertise for your next move.