The following are questions that need to be asked in order to develop a cogent real estate plan.

Are you familiar with the basic terms of your existing lease and lead times for extension option or termination exercise?

Who will be the team that makes the real estate decision? (CEO, COO, CFO, Facilities Manager etc? It is often best to limit the number of participants in the process) And what is your internal methodology for such decision making?

Is your current facility one that helps your firm retain and attract talent? (Note: building, design, telecom and cabling systems, accessibility, building and neighborhood amenities etc.) How would a move impact key staff?

How far out are you effectively able to project growth? What are your projections?

Are you familiar with the current commercial real estate market-place and occupancy costs? (And therefore the impact on your balance sheet and cash flow of attendant costs associated with a transaction such as 'credit enhancements', 'LC's, moving, and overall setup costs)

If contemplating expanded facilities do you have a contingency plan in place for subdividing and subleasing? (ensure that any lease agreement into which you enter allows for this)

In the case of a merger or acquisition will your space be an asset or liability? In other words imagine how another business 'partner' would regard the outcome of your facility decision. Or said another way, benchmark the facility standards of other good companies as a basis for your decision making.

Who will manage the internal process of lease negotiation, architect coordination, telecom and workstation evaluation and acquisition plus move coordination? Upper management should understand clearly the time demands on facility managers on a day to day basis. As well as understand the additional work load associated with a move.

May we help you with your real estate plan, or assist in your search for facilities?