The right move: finding an office that fits.

• Author: Campbell, Carolyn
• Position: Smallbusinessadvisor

WHEN TERRY H. BUCKNER, PRESIDENT and CEO of the Buckner Company, planned to move the 70-year-old commercial insurance company from its 45th South office last July, he wasn't going to just go on gut instinct. Buckner hired a consultant to help find the right space as well as to help consider future options regarding the new space.

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Gary Mangum, managing director and principal broker of Coldwell Banker, says that business customers often find that a commercial real estate professional who specializes in office sales can be of exceptional value in helping create a successful move to the perfect location. Such a realtor will ask the right questions to determine office space needs in regards to primary office space, conference rooms and cubicles.

A commercial real estate specialist can also analyze a business owner's individual preferences, adds Rick Bennion of Chapman-Richards & Associates. "While an advertising company might choose an upscale office with a snazzy front, someone else might feel freeway access is the most important quality. Another business might consider square footage as the prime criteria."

He or she will also take into account the factor of affordability. Bennion advises small businesses to be clear about where they stand financially. "It is important to have a good business plan and realize that office costs are a big portion of office expense. As a startup, you can ask yourself what [an] office expenditure will bring in terms of new business and how your business plan will help meet your goals," he says.

In discussing options with their consultant, Buckner and his associates decided against commissioning new construction. "We decided our capital was best used in our existing business rather than expanding our land holdings." They then considered their 60 employees and projected growth rate to determine that they needed 16,000 square feet rather than their former 11,000. "Once you commit to a long term lease, that is the office size you live in. We didn't want to overpay, but preferred not to be sandwiched tightly," recalls Buckner, ultimately choosing a Class A building. "We felt that a high-end building and prestigious address would attract the best and brightest insurance minds."

Location was another priority. "We felt it was important to be near other corporations that we felt were of equal quality to ourselves," Buckner explains. After considering Salt Lake's downtown, Sugarhouse and Cottonwood...