Whether you’re opening a single office location or planning many, the cost of a commercial buildout is arguably the most critical concern to address when getting started. The cost of an office buildout will vary depending on the age and type of building systems, existing conditions of the space, the type of business occupying the space, local permitting requirements, the quality and types of materials being used, just to name a few. Here, we will take a look at the major cost factors to consider before construction begins on your new commercial office space.
#1 – Building Space Type
The first factor to consider is the building and space you are planning to remodel. These are generally categorized into two types by the office construction services industry – second-generation (second-gen) spaces and shell spaces.
Second-gen spaces are the most common, as they’re spaces that have been used for business before by a previous tenant. Typically, these spaces are more affordable to build out because the basic structure of the space is already suitable, and work mostly focuses on updating older features, implementing visual changes to make it reflect your brand more accurately, and some updates to plumbing, communications, and electrical systems. One factor that can increase these costs significantly is the age and condition of the building itself, with prices and project scope increasing according to how out-of-date the building is.
Shell spaces tend to be more costly to build out, as they are new spaces that haven’t been utilized before. While you have the advantage of being the first tenants and setting up everything exactly how you like it, the project itself is usually more complex and time-intensive. Also called capital improvement projects, building out a shell space involves major aesthetic, structural and infrastructure changes in order to create a completely custom space.
#2 – The Size of the Commercial Space
Bigger spaces are usually more costly to create, although you do gain the benefits of economy of scale by leveraging wholesale buying of materials, furniture, and so forth. In larger-scale projects, it is important to work with a partner who can properly manage this, balancing fixed costs like labor against discounts for bulk supplies to lower the project’s cost per square foot.
#3 – Layout, Amenities, and Intended Use
The more complexity and customization in your design concept, the more expensive the buildout is going to be – and the sky’s the limit here. While the amenities of, say, the Google campus are renowned as an exceptional workplace, it’s simply not achievable for the vast majority of businesses. This is where prioritizing certain aspects of a project becomes key in controlling and managing costs effectively, while delivering a space that is enjoyable to use, functional and impressive to clients. For example, a high-end café and break space for employees is going to carry significant costs in terms of equipment, furnishings, and design, as will a state-of-the-art conferencing space.
Office layout can also affect price, with private office spaces costing more per square foot than open-concept spaces. Your office construction services partner is invaluable not only in terms of laying out the costs per square foot of your project, but also in developing more flexible, creative, and cost-effective solutions that can deliver a completed space. One that matches your brand’s values and goals without overreaching on budget.
#4 – Quality of Materials
Quality comes at a price, and it’s up to each client to decide where their value point lies. However, it’s important to evaluate different materials and furnishings thoroughly to find those that are functional, aesthetically pleasing, and durable for your space – the aim is to land on great value, not cheapness. Simply choosing the materials that cost the least is not going to save as much as many people think. Not only can it result in a space that doesn’t present business accurately to clients and employees, but it also tends to wear faster, break more often and have a shorter lifetime, costing you more in the long run.
General Estimates for NJ Commercial Office Buildouts by BE Builds
As you can see, many different factors influence the ultimate cost of an office buildout. As a general guideline, however, you can expect to budget for your buildout as follows:
- A low-range buildout can cost $50-$80 per square foot
- A mid-range buildout can be between $80-$135 per square foot
- A high-end buildout can be from $130-$200 and upwards per square foot
As an experienced office construction services provider, BE Builds understands the challenges today’s businesses face in terms of designing and creating a functional, brand-centric commercial space that supports business growth. With decades of industry experience behind us and an end-to-end offering that takes each project from design through construction, we leverage our resources to ensure every client gets a custom office design that works for their business, industry, and budget. To find out more about our commercial office buildout services, contact us today or visit our website at: https://bebuilds.com/
Originally posted at: https://bebuilds.com/cost-factors-to-consider-for-your-commercial-office-buildout/