March 10, 2010 ( PowerHomeBiz.com )
- Location
of Vendors - The
location of vendors and various third parties can be important in selecting
the location of office space. Companies which have a strategic alliance with
vendors or routinely access parts from vendors must consider the location of
their vendors when selecting a location. Attorneys who routinely make
appearances in civil court or criminal court often select a location close
to the courthouse. Property tax consultants often select a location near the
appraisal district office. Consider whether you need to be close to either
vendors or other third parties when selecting your office space.
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Additional Location Factors
Following are addition considerations that may be relevant for you when
selecting the general location for office space: Is it near highways (to
reduce travel time)? Is it near the airport? Is there abundant parking? Is
parking free? Is the area safe? Will female employees feel comfortable
walking to their cars and driving through the area after dark? Is traffic
light or heavy?
Evaluate Location Factors
Determine which issues are most important for your firm. Consider using a
weighted average ranking system to a value at which area works best for your
firm. In this system, you assign each factor a relevance index from one to
10 (with 10 being most important). You then evaluate the quality ranking for
each factor. For each factor, multiply the relevance factor times your
quality rating for each of the general location sure considering. Then total
the score for each location. The building with the highest score should be
best suited for your business if the quality ranking and scorer were
correct. Reflect upon the result and see if it is reasonable. Is this really
the best location for your business?
The Market Research and Consulting division of O’Connor & Associates
provides information necessary to make decision to commercial real estate
professionals. Occupancy and Rental Data, ownership and management
information are routinely gathered for four major land uses – multifamily,
office, retail and industrial. This information allows investors to compare
competitive properties, facilitate business decisions and track market and
submarket performance. In addition the data is useful to brokers who for
example continually monitor Houston retail space leasing, Houston office
space leasing, Houston industrial space leasing, Houston apartments, Dallas
apartments, Ft. Worth apartments, Austin apartments, and San Antonio
apartments.
This capacity to research, analyze and interpret market trends and the
impact of specific transactions is a major reason for why developers and
acquisition experts rely on O’Connor & Associates for market studies,
feasibility studies, rent studies, tax credit studies, market research,
project design guidance, property performance evaluation and lease audits.
O’Connor & Associates is an acknowledged source of trends in real estate
investing and market activity.
About the Author:
Patrick C. O'Connor has been president of O'Connor & Associates since
1983 and is a recipient of the prestigious MAI designation from the
Appraisal Institute. He is also sa registered senior property tax consultant
in the state of Texas and has written numerous articles in state and
national publications on reducing property taxes. He continues to set the
standard in direction and quality of our appraisal products, adding services
ranging from business valuations and business appraisals to cost segregation
analysis for income tax reduction.
http://www.poconnor.com
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Patrick C. O'Connor
