Parking and office tenants

It remains a big concern and cost, especially when space is limited

While driverless cars might be a game-changer in the future, parking is one of the biggest concerns for office tenants when looking for new space. They want to know that their employees and customers will be able to park reasonably close to the office building, and they want to understand the costs connected with parking.

This is an easy issue with office parks that have large parking fields. There are no extra charges for parking, and landlords provide parking based on how many square feet are being leased. When you hear that parking is 4:1, it means that for every 1,000 square feet that are leased, the tenant gets four parking spaces. If the tenant leases 5,000 square feet, they get 20 spaces.

In most cases, the parking spaces are not exclusive or assigned; the early birds get the spaces closest to the building. But a tenant can negotiate for some assigned spaces for clients, with the business name put on a plaque or post next to the space(s). And it’s important for the lease to state the number of overall spaces that are being provided.

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