To Move, or Not to Move?
If you’re reading this, you may already be considering a move to new Omaha industrial space. Perhaps your current lease isn’t renewable, or you’re looking for a larger or more efficiently configured space. Whatever the case, be sure to review recent Omaha industrial real estate market trends with your broker to ensure that the operational costs of a move aren’t prohibitive. Costs aside, moving to improved Omaha industrial space can be an opportunity to increase your labor pool, strengthen productivity, streamline operations, increase workforce morale or reduce transportation costs. Ask your broker to help you weigh all the options with key company stakeholders prior to making your decision. Then, once your move gets the green light, follow these five simple steps to leasing success.
STEP 1: Plan Ahead.
Depending upon the size and complexity of your operation, it can take between six¬ months and two years to complete the relocation process. Colliers recommends starting your search for new Omaha industrial space a minimum of 12–18 months prior to the expiration of your current lease. This process should also be viewed as an opportunity to rethink the ways in which your existing facility affects operational costs. Can your operation be reconfigured, upgraded, expanded? Now’s the time to decide.
STEP 2: Create a Brief.
To take your relocation from notion to motion, start by assembling an all-star team of internal decision-makers, then developing a thorough real estate brief along with the help of your Colliers broker. The process of putting your needs on paper will help you consider every piece of the puzzle—from your company’s brand values to logistical needs to short- and long-term growth projections. Collaboration with your plant/facilities managers, manufacturing engineers and operations managers will ensure your Omaha industrial space plan is based on the best information. The planning stage should include vendors who supply and maintain your machinery, so you can factor in the expense of upgrading power, transporting and recalibrating equipment, etc.
STEP 3: Weigh Your Options.
When you’re ready to release your brief, your Colliers broker can streamline the process by approaching the market on your behalf or negotiating new terms with your current landlord. Once you have a “short list” of Omaha industrial space options to consider, you’ll conduct a design site audit to determine work space efficiencies and estimate tenant improvement needs. It’s important to involve your lead contractors—architects, space planners, and logistics or efficiency experts—at this stage. This data you gather during this phase will be instrumental in helping you to determine which Omaha industrial real estate option best suits your company’s needs.
STEP 4: Sign on the Line.
Once the particulars of your Omaha industrial real estate lease agreement are negotiated, both parties will sign a letter of intent; this document will be used to brief attorneys so that the final lease documents can be prepared. When your lease agreement is complete, the workplace tenant improvement process begins immediately. At this stage, you should have completed your needs analysis, space plan and test fit. This will enable you to engage your space planner and equipment vendor’s technicians with accurate information regarding your requirements.
STEP 5: Make it Yours!
The final stage of the process—design and project management—provides the perfect opportunity to re-think company imperatives and promote organizational effectiveness, logistics and productivity. Prior to beginning any work, be sure to download our Industrial Leasing Guide and review the important terms on pages 14–15, as well as the Frequently Asked Questions on pages 16–17. Making informed decisions will ensure that your new Omaha industrial space meets all your company’s needs. If there’s ever anything you’re unsure about, don’t hesitate to call your Colliers International broker right away.