How Executive Real Estate Decisions are Made
When corporations are looking for office space, they typically start by casting a large net. This involves taking the interests of all key players into consideration before narrowing down the choices.
For example, we recently met with a client looking to rent commercial space:
- The chief marketing officer and the sales manager wanted an attractive space to impress clients. It should be noted that their vision was the most costly.
- The facility manager moved up from the building maintenance department and was motivated by one question: Will it be easy to maintain?
- The CFO’s main function is evaluating costs and saving money, so she advocated for the space that was the most economical.
- The CEO was aware of all aspects involved and wanted a space that was inspirational – a space that would drive the workforce.
Ideally, it is best to have everyone on the same page. The end result of this could lead to finding spaces that are well designed, easy to maintain, economical and inspirational – spaces that provide some aspects of what each department is is hoping for.
In the final analysis, we like to see a company achieve long-term success within a space. Understanding the decision-makers as well as the underlying business factors is a crucial part of that process, and one of the many ways that Mohr Partners serves tenants.
What factors will you consider when you make your next real estate decision?
George E. Grace
Mohr Partners, Inc.
232 Madison Avenue
New York, NY 10016