Key Considerations: Office Space Construction / Renovation
The costs to construct / renovate and furnish office space are key components in your company’s overall cost of space, particularly under current economic conditions.
During the past few years, the costs of labor and materials have increased sharply while the lack of availability of each has become a significant problem. In addition, municipal permitting periods have doubled and even tripled in many areas. All of this at a time when corporate operations are less tolerant of delays and cost overruns.
There are, however, several steps that you can take to mitigate these issues including screening and choosing vendors such as landlords, contractors, architects and movers carefully. (A good tenant representative will help you locate and qualify these service providers). Also, be aware that unionized labor generally costs + 25% more than non-union labor. Lastly, understand “rule-of-thumb” costs for general construction / relocation items. The following should prove helpful:
The day-to-day responsibilities of your core business are demanding enough. A qualified project management team acts as an extension of your internal team and can help you realize significant savings and operating efficiencies through their expertise and past experience. The tenant representation team at The Acclaim Group provides a full complement of national tenant project management and space disposition services. We provide a proven methodology that is thorough, meticulous and extremely versatile in scope. To learn more about the Acclaim advantage please call us at (908) 653-0880 and ask to speak to one of the principals of our firm – Michael Maroon or Todd Smith.
THE ACCLAIM GROUP, LLC
108 North Union Avenue, Suite 2
Cranford, New Jersey 07016