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Estimating a Timeframe
Some of the major factors impacting timing are your
company's real estate requirement, the complexity of your specialized needs,
particularly telecommunications, trading floor and/or special engineering
requirements, the efficiency and timeliness of your company’s decision
making structure, financing and funding hurdles to meet the costs of the
relocation and the extent of construction required in your chosen site.
Some phases of the three-part process (i.e. Search, Negotiate, Finalize) are
generally easier to predict. For example, lease negotiations, particularly
for users under 10,000 square feet, should be concluded in two to four
weeks. Oftentimes, the landlord’s attorney will not send out the first draft
of the lease for about a week. While this will presumably change with the
advent of the Internet, as of early 2000, lease negotiations are a manual
process in most cases. Our projections exclude any delays caused by existing
leases or obligations. Further, they are only estimates and will be impacted
by any special circumstances. Based on our experience, and with the above
factors in mind, we provide some rough benchmarks for each of the major
phases of the project.
| Square Feet |
| (in weeks) |
Up to 10,000 |
10,000 to 50,000 |
50,000 to 100,000 |
| Develop Requirements |
0.5 |
1 |
1 |
2 |
1 |
2 |
| Search for Space |
1 |
3 |
1 |
4 |
1 |
4 |
| Evaluate Alternatives |
.5 |
2 |
1 |
2 |
1 |
2 |
| Develop Short List |
.5 |
2 |
1 |
2 |
1 |
3 |
| Finalize Lease |
2 |
3 |
2 |
4 |
2 |
4 |
| Construction |
|
|
|
|
|
|
Minor |
0 |
4 |
1 |
5 |
2 |
9 |
| Raw Space |
8 |
12 |
8 |
12 |
12 |
24 |
| TOTALS |
4.5 |
23 |
7 |
26 |
8 |
39 |
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