Understanding the Common Area Factor: Usable vs. Rentable Square Footage

Understanding the Common Area Factor: Usable vs. Rentable Square Footage

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It’s not uncommon, nor unreasonable, for clients to question why they’re paying for space they think they aren’t “using.” This common area of confusion is caused by what is often called common area factor. Essentially, it is a formula used to set a rental rate that factors in the space being used solely by the client as well as a portion of the space that is accessible to multiple clients within a building, such as lobbies, stairwells, main hallways, shared restrooms, etc. Usable square footage Usable square footage refers to the space your firm actually occupies. It is measured wall-to-wall and typically does not include areas taken up by structural elements, such as columns or recesses. For clients that occupy full floors, areas such as hallway restrooms may also be…
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Embracing the Startup Industry

Embracing the Startup Industry

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From East Cambridge to the ‘burbs of Greater Boston, the local startup industry continues to boom.  Frequently operating with tight budgets and uncertain futures, however, these early-stage companies are not ideal prospects in the eyes of many commercial real estate firms. By focusing instead on the high potential of passionate, innovative entrepreneurs, Cummings Properties has found plenty of reasons to take a chance on the “little guy/gal” and has developed strategies to create win-win leases with startup firms. [caption id="attachment_964" align="alignright" width="950"] Image via mashable.com[/caption] Flexible lease terms Forecasting business growth beyond a few years can be difficult for well-established firms and is especially challenging for startups. As a result, young companies are often wary of signing long-term leases. By offering early-stage firms flexible short-term leases – with a guarantee…
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Let it Snow, Let it Snow, Let it Snow!

Let it Snow, Let it Snow, Let it Snow!

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“I had to trudge through snow up to my waist…” It seems that we have a new generation of Great Blizzard stories to share as a result of Boston’s record-breaking winter. The Cummings Properties Snow Team, however, was well prepared for the monumental snow-removal task presented by Old Man Winter. (more…)
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I Need Lab Space?

I Need Lab Space?

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Sure you do; you're a scientist starting up your own firm. You've been so focused on the science and business issues, all you think you need is "a hood and a bench" to get going. You probably left a larger firm or university that had a lab facility manager or team to deal with the infrastructure. Suddenly, you are the facilities manager. That's okay; we deal with these situations all the time. Let's start with the basics and determine your needs. (more…)
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Triple Net/NNN vs. Full-Service/Gross Leasing

Triple Net/NNN vs. Full-Service/Gross Leasing

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So you've found the perfect office space for your business. While locating the ideal space is important, understanding and negotiating the terms of your lease may ultimately have a larger impact on the profitability of your business. The two primary types of commercial real estate leases are triple net (NNN) and full-service (sometimes referred to as gross). (more…)
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4 Ways to Search for Office Space

4 Ways to Search for Office Space

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There are many ways to search for a new office space to lease. Whether you are new to leasing commercial property or a veteran, explore your options thoroughly to get the best possible space for your business. (more…)
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How Many Square Feet Do I Need for My Office?

How Many Square Feet Do I Need for My Office?

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When leasing or renting commercial real estate for an office, one of most exciting parts is planning the space. Every business has specific needs, and it is important to know what one's office space requirements are before signing a lease. If you rent too little office space, employees will be cramped and inefficient, and there will not be room to grow. Rent too much, and you will be tying up resources that could be better allocated. Ask yourself some simple questions to help decide how much office space is right for you. Try using this space planning worksheet to figure out how many square feet your office needs. (more…)
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