According to a CBRE study the high-tech industry accounted for 19% of office leasing activity in the U.S. in 2014. Because of that it’s important for cities to understand and cater to the things that matter most to tech companies. The same holds true for landlords. If you want to entice tech companies to lease office space in your building then you need to create features, terms, & office space amenities that matter most. Below are a few things that tech companies want when leasing office space.
Scalable – When tech companies succeed they grow quickly which means hiring a lot of people in a short amount of time. They look for office space that can accommodate their current and future needs. Many of them ideally want shorter lease terms (3 years or less), however If a landlord requires a longer lease then it’s important that there be an option to grow in the building in the future or the ability to break the lease in the event there is no additional space to grow into.
Office Layout – Tech companies typically like open office layouts with a few private offices and/or conference rooms. Sometimes they like to build smaller rooms so the employees can make private phone calls. Break rooms, coffee/drink bars, and recreational areas are also nice to have for the employees to enjoy and get to know one another on a personal level.
Amenities – Close proximity or walking distance to restaurants is nice to have. Fitness centers, onsite cafes, and dry cleaning services are also preferred so employees don’t always have to go off site to get what they need.
Speed – Tech companies need speed! They want fiber & gigabit speeds. Transferring data takes up a lot of bandwidth and the more they grow their bandwidth needs grow.
Location – Tech companies attract a lot of young employees who like to live, work, and play in trendy areas. Office buildings in close proximity to downtown areas and/or hike and bike areas, restaurants, bars are ideal. Many employees these days don’t like long commutes and would rather bike to walk to work so being located close to the office is ideal. This allows employees to take much needed breaks and get back to the office quickly.
Having any questions or need help finding and leasing Austin office space? Give us a call at 512-851-0525