17 Tips to Find the Perfect Office Space for Rent in Columbus, Ohio
Doesn’t it feel as if you only just moved into your current office? And already, here you are searching for the next perfect office space for rent in Columbus, Ohio, to suit your expanding team better.
Acquiring office space for rent in Columbus, Ohio has never been a wiser decision than now. Ohio is home to the headquarters of 27 companies on the U.S. Fortune 500 list. Six of those companies are headquartered in the Greater Columbus area: American Electric Power, Bread Financial, Cardinal Health, Huntington Bancshares, L Brands, and Nationwide. In fact, Columbus ranked as the #1 metro area in the United States for Global 500 headquarters!
With all that you have on your plate, when you search for office space Columbus, Ohio has to offer, it can feel overwhelming. But it doesn’t have to be. So, how can you get started on your quest today? And what should you take into consideration? Find the answers to these questions and more, below.
The number one factor you should consider when looking for officespace is your needs. Financial obligations are significant; however, you want to rent office space that is adequate for its purpose. Take the time to find affordable office space that will suit your short- and long-term needs. When renting a space for business, think about working with a commercial real estate firm in Columbus, Ohio. A commercial broker can better help you search for office space listings. And having local and industry market expertise, a Columbus-based commercial broker can help you find the right space that suits your goals and budget.
How Do I Find Office Space for Rent in Columbus, Ohio?
Finding commercial real estate, such as office space rentals, isn’t as easy as residential real estate with a widely available MLS. However, there are several ways to find commercial office space listings.
- Hire a commercial tenant broker. A commercial tenant broker can rather easily find office space for rent in Columbus, Ohio that meets your needs and budget. A commercial tenant broker is knowledgeable in all facets of finding commercial properties. Commercial brokers know how to look, where to look, what pricing is acceptable, and how to negotiate. They also have access to many tools and resources that most people don’t.
- Browse commercial listing sites. Crexi, Loopnet, PropertyShark, 42Floors, and CityFeet are among the sites that enable you to search office space rental listings.
- Drive around the neighborhood. Once you decide on an area that interests you the most, take a ride there. See if any office buildings have “office space for rent or lease” signs up.
- Network online with local business owners. See if they can provide you with any leads. Try LinkedIn Groups, Facebook Groups, and Meetup; let members know you’re looking for office space for rent in Columbus, Ohio.
9 Points to Consider Before You Search for Office Space
Before you search for office space rentals. consider these nine factors:
- Which location? Ah, location, location, location. Location is the most critical decision when you search officespace for rent. A “prime” location will cost more, so consider what that means for you and whether it is a priority. Also consider accessibility to transportation, proximity to target clients, and employee commute.
- Calculate square footage. Calculate the necessary square footage per person rather than as a whole space. The average office space needed per person is 150 square feet. When you search office space listings, remember that some landlords list total square footage, including areas in the space that are not usable. The terms you’ll want to look out for are usable square footage vs rentable square footage.
- What’s your move-in timeframe? Finding office space to rent in Columbus, Ohio can take time. The average timeframe, generally speaking, is two to eight months; however, this estimate can vary depending on the factors mentioned in this list.
- Calculate your budget. Consider how much you can spend annually renting office space in Columbus, Ohio. The cost of office space can significantly vary based on the neighborhood, building type, building class, size, amenities, and more. Remember to estimate a deposit, maintenance fees, utilities, etc.
- What type of office space for rent do you want? Decide which type of office space is ideal for your needs: Traditional office space; office space sublets; shared office space; or coworking space.
- What are the list prices? Determine the average cost per square foot per year of office space in your desired location in the Columbus Metro area. Here is how to calculate office space rent: Price Per Square Foot x Total Square Feet = Total Annual Office Space Rental Rate.
- Review the rental agreement or lease.* Are there parts of the agreement or lease you cannot oblige? Can you make changes to the property? How flexible are your rights as a tenant?
- Is there growth potential? Is there room for your business to expand in this office space for rent? Columbus, Ohio has many professional spaces for rent, so choose wisely.
- Determine the function of the office space. What purpose will your office space serve beyond a place for your employees to perform their duties? Will clients visit the site? Will you need conference rooms? How about parking spaces?
Know that every rental agreement and lease will come with fine print. Whether you choose to buy or rent office space Columbus, Ohio has to offer, there are certain things you must oblige. Are you prepared to be held accountable for the fine print?
*Related Article: 52 Tips to Negotiate an Office Space for Lease in Columbus, Ohio
4 Pertinent Precautions to Take Before Deciding on Office Space Rentals
Once you have decided on a commercial office rental property, consider taking these necessary precautions:
- Obtain a property appraisal (if buying office space for sale).
- Carefully review and understand the mortgage/rental costs and terms, as well as your rights.
- Consider property insurance (if buying) or rental insurance (if renting).
- Fully understand all costs involved besides the rental or purchase price. The biggest mistakes you can make are investing in office space without understanding the additional costs and not budgeting correctly. You do not want to take your business’s success and turn that into a setback with a new office rental space.
Hire a Commercial Tenant Broker to Find Office Space to Rent
When you work with the commercial listing agent handling the office space for rent, they have the property owner’s best interests in mind. However, when you hire a commercial tenant broker, they have your best interest in mind. As a tenant, you must have proper representation from a skilled commercial real estate broker specializing in office space for rent in Columbus, Ohio. Local area knowledge allows the broker to search office space listings better and find office space that meets your requirements. A commercial tenant broker knows the market well and utilizes many tools and connections. They do the legwork for you and excel at negotiating rental or lease agreements on their client’s behalf.
When it comes to commercial real estate, there are no questions too small. Consider speaking with the professionals at The Robert Weiler Company, which has provided top-notch commercial real estate services since 1938. Whether you need assistance with appraisal services, managing a commercial property, or finding the best office space for rent in Columbus, Ohio, contact one of our commercial brokers at 614-221-4286 to get started today.