7 tips for using CoStar to search for your next workspace solution
The office rental search process can be overwhelming and exhausting. But you know finding the right office space for your business is crucial to success. The space you choose will affect how your company is perceived, and how attractive you are to the employees you want to hire.
CoStar is a commercial real estate search platform that collects all the most important information about office space options into one place, vastly simplifying the process of reviewing your options.
This isn’t just your run of the mill, Googlable data. The company employs 2,000 researchers who go out into the field to check properties out in person. Their tools have information on over 5 million properties, and they’re involved in 86% of commercial real estate transactions.
In addition to being comprehensive, their tools are easy to use. They even have an app, so you can take all that knowledge on the go with you.
If your company is in need of a new office, here are seven ways using CoStar can help you find the right office space for rent.
1. Know your top priorities
Define what you’re looking for before you start your search. One of CoStar’s great benefits is making it easier to hone in on available spaces based on specific details you want. You’ll get more out of the tool if you have a list of priorities in hand clarifying what you want in an office space by the time you pull it up.
Consider factors like:
- How much space you need
- What your budget is
- What type of neighborhood you want to be in
- What amenities you value most
Rank each of those preferences based on their importance to you.
2. Search based on what matters
Now that you have your list, you can easily narrow down your options based on the priorities you’ve defined. CoStar lets you filter results based on:
- Size of the space
- Property type
- Property age
- Occupancy level
Don’t waste your time looking at properties that don’t meet your needs. With CoStar you can quickly and easily create a list of all the available office spaces that check your boxes.
3. See how it looks
The aesthetics of your office space matter. Whether or not the space has a clean and inviting feel will influence how your employees feel throughout the day. Before you take the time for an in-person visit, you can get a glimpse of what the office space looks like through the photos and floor plans CoStar provides.
With CoStar’s images, you can start to picture yourself in the office. That makes it easy to rule out spaces that lack the ambiance you want your company to have.
4. Learn about commute opportunities
Commutes play a big role in employee happiness. Your workers care about how long they’ll spend getting to and from the office each day, and what options they’ll have for getting there. CoStar provides data both on what public transportation options a property is close to, and what the area traffic is like.
For many talented workers, knowing they have the option to bike to work or take the bus instead of sitting in traffic all morning can be a deciding factor in whether or not they choose to work with you. Understanding commute options for an office space should therefore be a key consideration in your search.
5. Learn about the neighborhood it’s in
CoStar also provides details about area home values and demographics of the neighborhood each property is in. You can check to make sure that the cost of buying a home nearby is in line with the salaries your employees make—another factor that can influence their commute time.
And you can get an idea of what the neighborhood is like. Are there a lot of food options, grocery stores, or retail spaces nearby? For some employees, knowing they have a range of delicious options for lunch everyday, or that they can hop over to their favorite store after work can make a difference in how happy they are in their job.
6. Review tenant information
CoStar also lets you in on who your neighbors in a building would be. That’s valuable for gauging networking opportunities. If you have the potential to run into future clients or partners in the lobby and elevator on a daily basis, that can have a real business impact. And being located close to impressive businesses can be a way to boost your own brand’s reputation by association.
7. Get contact information for the owner and broker
With all of that information in hand, you can identify the top few properties you want to consider. Once you know which are worth your time to check out in person, CoStar also delivers you all the contact information you need. You can contact the broker or owner with any remaining questions you have, and set up a visit to check the space out.
WeWork office spaces will be among the options to see in CoStar. We offer spaces of various sizes, with especially amazing amenities, worker-friendly office designs, and pricing suitable to businesses of all sizes. For more information, get in touch with us directly to see if we can set you up in the perfect office space.