What Are Tenants Looking For? Demand For Commercial Real Estate

Selecting an office is not an easy task. But it’s even more important to clarify a number of points during personal negotiations or when viewing an office.

It is clear that by acquiring an office, warehouse or retail space, the owner wants to receive income. But in order to sell something you need, you must first buy something you need. What is the demand for commercial real estate for rent today, and how the preferences of metropolitan tenants are changing.

Tenants are becoming more demanding on the quality of rented premises. However, in principle, the tenant is required to maintain the premises. He must thus repair all that has been degraded by him or by third parties.

In addition, tenants are ready to sublease small premises. Such offices are most often looking for individual entrepreneurs and organizations, in which mostly employees work remotely, or businessmen who are just starting their business.

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What does demand depend on?

In short and capacious, it depends on the economic situation in the country and the level of well-being of potential tenant companies. Therefore, it is clear that an office or warehouse of a considerable area will be more difficult to hand over than a small room.

If you look a little wider, then the demand for commercial real estate depends on several fundamental factors:

  • Building profile. A free-use premise is easier to “find” a tenant than a building converted to a bank office;
  • High passability of the location and convenient transport location will attract the attention of a wide range of tenants. Premises located on the outskirts or far from the metro – only if the cost of the company is more important than comfort;
  • Market conditions;
  • Recognition of a place (for example, a business center).

Offices

In the office space segment, areas of 100-300 m2 located in DLF cyber city-Gurgaon are most in demand. Such an area is optimal for companies representing small and medium-sized businesses.

Typical tenants are consumer services firms, the IT sector, trading and construction companies. While a fully furnished office space in Gurgaon speed up the entry of tenants, so it makes sense to furnish your property first and then put it on rent.

Blocks with an area of ​​500-1000 m2 are less in demand, so when buying or renting an office space, it is reasonable to consider the possibility of dividing the room into small blocks.

Warehouses

The most popular at the moment are spaces of 1000-3000 m2. As additional requirements, tenants indicate high ceilings, floor loads, a certain temperature, the presence of road and rail access roads, and a ramp.

The owner wants to get the maximum income from renting his premises, and the tenant wants to save. The intersection of their interests is the very point of adequate price. It is best to turn to real estate agents in Gurgaon for help: their objective assessment of the market situation and the potential of the space will be more accurate.

Tips For Choosing The Best Location For Your Business

Commercial rents have fallen in recent years, allowing businessmen to find a more suitable location to gain visibility and thereby increase their customers. A bad location can make the best business fail. And vice versa, a good one can bring people to almost any company.

The best location always depends on the type of activity. Commercial rental prices have declined in recent years due to the closure of many businesses. Some have even dropped by half, so it may be a good opportunity for you to pack and find the best location for your business, for example, you can shift to an IT office space in Gurgaon.

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What do I do?

The best space for a company will depend, first of all, on the activity it carries out. Those purely industrial are located in the industrial estates, a place that is also usually chosen for those companies that need a warehouse and central offices, but have several centers located in the interior of the cities.

Where is my audience?

The business must be located where your customers are or spend most of the time. Those who sell products or direct services, such as a hairdresser, have to look for premises at street level in areas with residents with age and purchasing power according to their services. For example, a luxury shoe store should not be in a popular neighborhood.

Within that zone, it is important to study the exact location. Normally, those at the intersections of two streets are more interesting because they have more visibility, something that also happens if you are next to a crosswalk, a bus stop or a subway.

On the contrary, very wide streets with boulevards in the middle or roundabouts are not a good idea, as it is difficult to see the establishment from the opposite sidewalk.

Conversely, businesses that do not have such a direct relationship with their public do not need to be on the street. For example, dental clinics or accounting consultancies are usually high.

In these cases, it is recommended that they choose the first floor, so that the advertisements with their services and their telephone number are seen well from the street.

What about the competition?

It is not always negative to be surrounded by other companies in the same sector. For example, fashion or accessories stores need similar ones in the same area, since shoppers prefer to go to areas where they have a lot of supply. For this reason, large stores or shopping streets are perfect for them.

However, there are businesses where the competition does not suit them. This is the case of veterinary clinics, whose offer is practically the same in all of them. Here a newly created neighborhood is a good choice to open a center and thus position itself before other competitors arrive.

Is it adapted for what my business needs?

It is also essential to take into account how it is conditioned. The owners of fully furnished office spaces in Gurgaon do not include this section in the rent, and that is a cost, often important. We must not forget that the premises that we want to rent have the appropriate permits for the activity that we are going to carry out, for example, it is necessary to have an approved smoke outlet in the case of a bar or restaurant.

Office, Co-Working Or Business Center, Which Is Better?

Many entrepreneurs and freelancers when they start a new business often work from home to save costs, but there comes a time when they need a comfortable and well-equipped workspace to carry out their activity or they may need a meeting place on occasion. At that time, they must choose: office, co-working or business center.

Each way of working has its advantages and disadvantages, so we are going to analyze them so that you can decide what is best for your business.

An individual or shared office

This is one of the most classic options, you simply rent an office for your business or you share an office renting an office with other professionals. They are usually offices with independent rooms that do not facilitate collaboration but individual work.

An individual office for you can only be a bit expensive option, unless you choose something further from the center. An office in a shared office can be a good option to work in a more central area.

Business centers

Business centers are used for two things: to have companies domiciled and to rent professional offices or other spaces for companies. Business center in Delhi usually have additional services such as the reception and attention of telephone calls, rooms for meetings and events, etc.

business Centre in Delhi

The advantage over renting an individual office is that with the price we pay, we also cover the cost of electricity, internet, furniture, office cleaning, etc.

The disadvantage is that they continue to be spaces, like the individual offices that do not foster the relationship between companies, since they work in separate spaces, making it very difficult for synergies to arise or for collaborations to be established.

Co-working

It is perhaps the most flexible option for an entrepreneur who is starting a business since they usually offer several options: renting fixed or few hours a month jobs or attending events (without the need to rent a job).

These are open spaces that foster the relationship between entrepreneurs and, in addition, the co-working centers themselves usually schedule courses and various activities so that the entrepreneurs get to know each other and can collaborate professionally.

They usually offer various complementary services such as: internet, organization of events and courses, meeting rooms, etc. Sometimes they are very original spaces and they are usually in central places of the big cities, even in some cases they have other centers abroad that we can go to if we travel for work.

Co-working centers are a good idea for entrepreneurs who have just started, they work from home, but sometimes they need a space in which to focus or receive a client. Choosing one of the three previous options depends a lot on the type of activity you carry out, perhaps a more consolidated activity is better suited to ab office space in Connaught Place for that company.

While if it is a more creative activity, the relationship with other professionals who carry out activities complementary in a co-working can be beneficial.

Main Mistakes When Choosing An Office Space

Often, many owners of the company take the choice of office space lightly. And this is a very big mistake. The thing is, people are the main labor resource, and their activity is a component of a successful business. But for the process to really move in a progressive direction, it is necessary to create comfortable conditions.

Therefore, you should not save on real estate, because the room that you choose directly affects productivity and success in work, maintaining a collective spirit, a cozy atmosphere, etc.

Independent search for premises

Most entrepreneurs have formed the opinion that it is not necessary to use the services of professional brokers and agencies to find a suitable rental space. You can find it yourself. As a rule, two criteria are important for business owners: if the office is in the center and if it is easy to get to it, then it is suitable.

But this is by no means the case. Everywhere there are pitfalls, most of which begin to appear after the conclusion of a lease. But then it’s too late to change anything. And then there are problems and inconveniences. Therefore, you should not neglect the services of professionals.

We recommend that you turn to real estate agents in Noida because they are not only highly qualified and know the real estate market, but they are also excellent negotiators, which implies that at the exit you will receive an excellent option of a room with a suitable budget and expenses.

Incorrect calculation of sq. m

Often, business owners try to calculate the squares of the premises on their own. From experience, professionals can say that forecasting is the wrong step. The specialists will competently calculate the office space, so you will not have the risk of renting a huge office too small or vice versa for business.

Incorrect location selection.

The location of the premises is one of the most important aspects in the choice, because the amount of time that you and your employees will spend daily to get to work or at home depends on it.

Specialists will help rationally choose options: the office will be within walking distance from the metro, have favorable transport accessibility, parking spaces and developed infrastructure. You can also look for office spaces in Bhikaji Cama Place.

Lack of expandability.

When signing a lease, tenants forget to consider future prospects. Experts will help you choose an office that could be expanded in the future. They approach the choice of rent thoroughly and calculate the footage of the commercial premises, because even a small difference can result in a round sum.

Misunderstanding of technical characteristics.

Many people forget to make sure in advance and check the availability of water supply, ventilation, fire alarm and air conditioning. Often, these factors are simply not taken into account, since they pay attention only to the appearance. All this happens due to the inexperience of business owners who simply do not know all the intricacies of renting premises.

How To Choose The Ideal Co-Working Space-2 Steps To Do It

If you are considering starting work from a co-working space, you only have to know how to choose one. In this article, we discuss how to do it in just two steps. Choosing the right co-working space is a task to which you must dedicate time and patience.

You must be clear that it will be more expensive than working from home or a cafeteria, but cheaper than in a private office. When you start your search, you will see that there are many types: different price ranges, services, amenities and the public they seek to serve.

Your mission will be to find the one that best suits your needs and budget. We believe that the two steps we propose will help you make a better decision. So keep reading!

Steps to choose a co-working space

  1. Evaluate your budget

In our opinion this is the first step. In your search you will see that there are lots of very attractive co-workings. From beautiful designs and luxurious decorations, cultural events, gourmet food to many other services and amenities that we would all love to have on a daily basis.

But can you afford it? For this reason, we think that defining the budget you have or are going to allocate to this item will help you quickly narrow your search and, therefore, make the process shorter and less tiring.

A very important tip that we give you is to see going to a shared office space in Gurgaon as an investment. That is, it will be a recurring expense that you will have. But, if you focus on integrating into the community and networking, you can generate contacts, clients, grow professionally and, as a result, make profitable that investment.

  1. Define your needs: services and type of cowork office you require

Why do I need to work in a co-working space? What do I hope to get there? How will it benefit me? These are questions you should ask yourself.

Detailing your goals will help you establish your priorities and know how to choose the services you need. You must be objective, and even strategic, in defining what you really need according to your situation.

For example, if you are a digital nomad who works while traveling the world and is looking to generate contacts and projects, you can choose a mobile desk or hot desk, consider the flexibility of schedules, as well as events, talks, workshops, etc., offered in co-working.

If, on the other hand, you are a more established professional and you need to have several belongings in your office, renting desks or fixed positions is the best thing for you.

Do you require meeting rooms, night hours or a specific location? Is your business starting and could you use advisory services? Do you need to take your baby or pet with you? Generate a list of your essential needs and wants. This will help you to further limit your search to choose a suitable co-working office space in DLF Cyber city-Gurgaon.

Where To Rent An Office?

For each company, regardless of its size and scope of activity, there comes a time when it is necessary to find a suitable room for a new office. The grounds for finding a room can be very different:

  • Staff expansion;
  • Opening a new representative office or branch of the company;
  • Optimization of company resources;
  • Search for a more convenient and advantageous location.

In addition, each business is characterized by specific features that may require a change in location. In any case, the question of how to find a room for a business is sooner or later asked by every developing entrepreneur.

For the successful implementation of this task, you must first determine the requirements of the business. Depending on which indicator plays a key role for the enterprise, you will choose the right office for the company.

To rent a fully furnished office space in Gurgaon that would meet your requirements, it is worth considering several standard characteristics:

  • Location of the office center: convenient transportation, proximity to public transport stops, busy streets and avenues;
  • Building infrastructure: security and fire extinguishing systems, the use of energy-efficient technologies, modern ventilation, air conditioning and heating systems, video surveillance systems, 24-hour security and access to your office;
  • Interior: the area and layout of the desired office space, the availability of repairs and the necessary communications;
  • Exterior: the appearance of the office center, the presence of spacious parking, the quality of building maintenance;
  • Company budget for office rental and rates offered by the landlord.

Having drawn parallels between the requirements of your business and what the market offers, you will be able to most fully answer the question of how to choose an office space in any area.

Where is it better to rent an office?

Today, on the commercial real estate rental market, quite often there are proposals to rent an IT office space in Noida without repair. Such a solution in some cases has its advantages:

  • The ability to make repairs on an individual project;
  • To carry out finishing work and office design taking into account corporate subjects;
  • Create the most convenient layout for company employees.

In addition, provided that repairs are carried out on your own, you can agree with the lessor on more favorable conditions for cooperation for your company. Considering the fact that the loft-style office is a popular solution for modern business, your expenses for the repair of the premises can be minimized.

Today, office rental in business centers is of increasing interest among companies. Each of the entrepreneurs who can rent an office in the metropolitan business center will certainly appreciate the main advantages:

  • Favorable location of the building in any;
  • Availability of own security systems and firefighting;
  • 24 hour security and video surveillance;
  • Cleaning service;
  • Developed infrastructure of the building itself;
  • Spacious parking and attractive exterior.

In most office centers, two indicators are used in pricing: rental rate and operating payments (service payments). In addition, it is necessary to take into account the indicator of total area.

The closer the office center building is located to the city center, the higher its status – the more expensive the rental. Do not forget about the golden rule: a company that rents a large area for a long term has every chance to agree on more favorable rental conditions and tariffs.

Where Is It More Profitable To Invest: In Residential Or Commercial Real Estate?

The crisis of COVID-19 significantly affected both the business and the real estate market. And the main question facing “micro” and “middle” investors is which is more profitable: commercial or residential real estate. The answer to it will not be unambiguous.

Residential real estate is clearly segmented: primary and secondary markets, apartments, luxury apartments, houses and cottages, economy, business and premium classes. Segmented and commercial real estate:

  • Offices
  • Retail
  • Warehouses
  • Hotels
  • Narrow-profile buildings: cafes, restaurants, banks, etc.

Therefore, to decide whether to buy commercial real estate, you need to decide: will it be an investment in your own business or a rental income?

Business premises

It is logical that the person who acquires the premises for the business is able to calculate their income and expenses. But in practice, many representatives of small businesses (especially in the retail sector) do not always calculate whether their store will make a profit if the company has to pay rent + utility bills and other expenses.

What does this mean? The store pays off. But investments in the room do not pay off. Is such an investment profitable? No, although outwardly everything looks quite acceptable. This is “business for business.”

The money spent on the purchase of their business center in Delhi could bring much more profit if put into circulation.

The second problem that the owner will face is the inability to assess the potential of the area. He does not know (or does not take into account) which objects will be erected here in the next 3-5 years.

Meanwhile, the opening of a large hypermarket in the neighborhood, the transfer of a bus stop, the closure of the metro exit can “kill” your own business.

Premises as rental income

In this case, the investor expects to receive monthly income from the rented property in Delhi, while the room remains its asset. For a long time, residential apartments remained the most popular type of such investments, however today their payback period has increased significantly, and profitability has fallen.

Commercial real estate wins in this regard: its payback period is 7-10 years against 20 for apartments. But both options have their pros and cons.

Apartments

Entrance ticket to this market is lower than in the commercial segment. Traditionally, apartments are bought for children, and while children grow, rents are a good help for the family budget.

A similar option is also chosen by people who want to ensure a quiet retirement life- they rent out their property and live on rent.

The advantages also include the fact that professional experience for renting an apartment is not necessary (which cannot be said about the store or office). Moreover, companies that professionally manage residential real estate operate on the market today- if necessary, they can be entrusted with the management of the apartment.

The third advantage is liquidity. An apartment or apartments is easier to sell. How easier it is to purchase housing at the construction stage, which means to save on the purchase. The fourth advantage is the ability to rent housing.

Is it profitable to buy commercial property?

In terms of payback – yes, of course. With one caveat: if this property is liquid. The trend of the last 20 years has been the purchase of apartments (or premises) located on the first floors of houses under construction.

Rules For Designing Entry Zones In Business Centers And Reception Areas In Offices

The lobby of the business center in Delhi and the reception area in the office are their face and business card. And since a person makes a first impression in less than 10 seconds, you need to pay special attention to these zones.

Office real estate experts shared their experience in organizing the entrance area, reception area and waiting area and gave advice on what to look for when organizing them.

Aesthetics and functionality

Do not be afraid to stand out. You can save on furniture and decoration materials in other areas, but not in these. An unusual reception desk will immediately attract the attention of visitors – they will want to take a closer look at it. By and large, you need a WOW effect. Typical solutions do not achieve it.

Aesthetics should not defeat functionality. Reception area – the place of work of administrators, secretaries, who have a “shock” load. Therefore, it should be convenient not only for visitors, but also for employees. It makes no sense to install openwork partitions in which you cannot place documents or buy a chair on which the secretary simply cannot sit.

It is important to plan the organization of the entrance zone at the stage of development of architectural and planning solutions, when the foundations for future design are laid.

Already at that moment it is necessary to think over logistics – how the flows will move in the reception area and how to distribute them correctly, how to organize a lounge area and where to put the reception desk.

To foresee where the security officer will be located so that he does not interfere with visitors, but at the same time he can control the space and respond promptly in case of an emergency.

Experts note that it is extremely necessary in architectural and planning decisions and during design to do everything possible so that at any time of the year the streams of street air do not cause discomfort to employees and guests of the business center.

The size of the entrance zone is always planned taking into account the number of employees of the business center in Noida and the potential load on it during peak hours.

Before the opening, it is worth planning the location of the panel with a list of tenants. One of the main trends in the organization of entrance zones today can be called functionality – a sufficient and yet inconspicuous place for correspondence of tenants, an equipped waiting area with chargers for gadgets and free Wi-Fi.

As for the visual design, you can achieve a wow-effect by working with light, a different combination of materials and geometric shapes.

To create a positive impression from the first minutes, the presence of a stand for the bag, a comfortable place where you can sit down to fill out documents, a soft light, a scanner that recognizes the guest’s passport data to quickly process the pass and save the guest’s time will help.

 

Office Space: Revolution And Evolution

Over the past decades, offices have changed beyond recognition. Generation Y and even less so Z is hard to imagine universal “leveling”, closed cabinets and massive doors – they are used to modern, open-type offices.

However, designers and architects are sure that everything new is a well-forgotten old, and besides, history develops in a spiral. So, you do not need to discount the traditions of the past. Moreover, not all changes in the organization of office spaces in Noida can be attributed to progressive.office spaces in Noida

Office type office: what you can only dream of

In the 18-19 centuries, offices – as offices were then called – were much more spacious than the current ones. For example, in banks, such cabinets were located behind the main building.

One clerk allocated 20–25 m2 of area: it was believed that monetary operations did not endure fuss and require silence and concentration. Perhaps, such standards in the 21st century can only be envied.

The composition of the furniture included not only tables and chairs, but also library cabinets, sofas and armchairs for visitors.

Open spaces and space reduction

Offices like open-space – what is it, an innovation or a completed stage? Open-space begins its history from the end of the 19th-beginning of the 20th century. The motto of this type of organization of space was “ultimate functionality.”

Chicago became the pioneer of the new office movement – after a grand fire, multi-storey buildings with a metal frame and wide glazed openings began to be built in it. Isn’t history really repeating itself?

Although the construction of skyscrapers was primarily associated with the high cost of land in cities, the economy found its justification in the philosophy of work.

Cohesion was believed to strengthen the team spirit of employees. Therefore, at the beginning of the 20th century, 2.5-5 m2 of area per person became the absolute norm – five to ten times less!

The design of open spaces of centuries ago is unpretentious: many desktops arranged in rows, small recreation areas with chairs, tables and ashtrays. Nothing should have distracted people from work!

Modern reading of history

The revolution of the “office genre” is due to the computerization and accessibility of the World Wide Web. Why do we need archives, cabinets and libraries, if everything fits in one device? For the work of the employee – and more productive work – there was enough desk, chair and computer.

True, since now employees are even less likely to rise from their workplaces, tables and chairs (or rather, chairs) have become more ergonomic to protect valuable personnel from osteochondrosis.

In the last decade, the metropolitan office market has been developing irregularly. In office spaces in India, all types of offices are represented – cabinet (closed), open space (open), and mixed planning spaces. Interestingly, the rush for the classic open space companies has subsided noticeably.

Not all employees agree to rally at the expense of their own comfort:

 

  • They do not like the inevitably high level of noise in the room;
  • Lack of personal space;
  • The inability to adjust the microclimate (one clerk is cold, the other is hot);
  • In general, people are much more likely to get viral infections.

On this wave, the interest of companies naturally turns toward mixed-planning spaces and transformable offices, in which you can change the volume and structure depending on the tasks.

Generation of ideas, not routine work

Global corporations have proven that the main thing in modern business is ideas, innovations and creativity. So, the workspace should be designed in such a way as to help generate these innovative ideas. Therefore, companies aimed at the result are very thoughtful about the design of their offices.

Creative Or Functional Office?

Introduced into everyday life in the 90s, the concept of “creativity” today is more popular with designers than with advertisers. It is not surprising to create something new, bright and unusual in the interior – a reason for pride.

What are the goals of company owners when they want to create a creative office? Improve the efficiency and creativity of employees. Office functionality is also aimed at improving efficiency. Will these directions complement each other and merge, or will the “lyrics” and the “physicists” go in parallel ways? Let’s try to figure it outfully furnished office spaces in Delhi

What is a creative office?

There is an opinion that in a creative office the concept of “work as work” is replaced by the concept of “work as a game” or “work as life”. It is unlikely that this is 100% true, but there is a healthy grain here.

Creative office implies the presence of areas for recreation, unloading and communication of company employees. This is achieved in a variety of ways – we will talk about them a little later.

Custom design workspace – the prerogative of the open space format and mixed layout. However, in popular open spaces, in addition to the undoubted advantage in the form of significant space savings, there are also disadvantages. To level them, you need to carefully consider the functionality of the room.

Functional office

The transition from classrooms to open spaces did not take place gradually, but abruptly. Therefore, companies did not immediately recognize the problems of open spaces:

  • Excessive noise;
  • Lack of personal space for employees;
  • Decreased attention span;
  • Difficulties with climate control.

To minimize these problems, specialists propose to select several zones in the fully furnished office spaces in Delhi that are designed for individual and collective work, as well as for focused tasks that require a high concentration of the performer.

Depending on the tasks, employees use a particular area for work. Of course, for the staff to learn how to use the zones for their intended purpose (and not just strive to take a convenient place by the window or in the acoustic booth), it also needs to be trained.

Office functionality is not limited to planning and design. This concept includes ergonomics of workplaces, navigation, optimization of engineering systems responsible for the microclimate, organization of “smart” lighting and much more.

Can a creative office space be functional at the same time?

In the case of offices, the question of creativity and functionality at the same time should not arise. Office spaces are created for work, so they are functional a priori.

But a creative office can be called in two cases – when we are dealing with an outwardly unusual modern design and when spaces are created in the office that “stimulate” employees to be creative.

If the first case is in no way directly related to the functionality, since it is just a fashionable shell, the second just makes the creative space a significant component of a functional office space in India, one of the tools to increase the efficiency of business