Your company has customers and needs room to grow – perhaps to accelerate production or to so there is a more professional place to meet with customers than the local coffee shop.
Entering into a lease for physical space may be one of the larger financial commitments the start-up will make, and it can either support growth or threaten financial survival. Access to adequate space, suitably located, zoned and equipped, fitting within budget, can be a challenge.
Should the startup lease or sublease, or even buy? Is a shared office arrangement suitable? Or can you get by as a virtual company with everyone working from home? If you lease, should you retain a broker? Do you err on more or less space? Must the founders sign personal guarantees?
Michael Schwarzmann is a Senior Vice President of PIMCO. He has a CTP, JD, and MBA. Read More
Howard has been involved in commercial real estate for over 39 years now as both an attorney, broker, arbitrator and now radio show host and founder of CRE Radio & TV, since… Read More