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Hobbs Properties Blog

The magic formula for estimating your office space needs.

3/8/2018

 
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Estimating your office space needs.

If you’ve perused the listings at Hobbs Properties then you’ve probably noticed that for every office space we offer, we include a little section labeled “Ideal For.” This section lists the number of employees that we believe would fit comfortably in the office space.

In the example below, we believe that Suite 150 at 100 East at Anderson Plaza would be ideal for a startup or small business with 10 - 20 employees:
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Recently, we’ve received several questions regarding how we calculate and arrive at the range for each space.

Now, most companies like to hide their secrets, but here at Hobbs Properties we believe in trust and transparency. So, we’ve decided to reveal how we get that magic number so that you can estimate your own office space needs.

**Disclaimer**
The formula below is not guaranteed to produce a perfect result. As all businesses are unique, their space requirements will differ. It would be impossible to develop a formula that would spit out an exact number for every business. The rule of thumb and formula provided below gives a base range that you can use to estimate your space requirements.

If you’re hoping to find the exact space size for your needs, please get in contact with us today.

All right, now that that’s out of the way, let’s get down to the nitty-gritty.

​The rule of thumb.

At Hobbs Properties, we use the following rule of thumb:

1 employee for every 125 – 200 sq. ft.

Please keep in mind that this is not a hard and fast rule. The number of employees you can fit in a given office space depends on many factors, including the number of offices within a given space and the number of employees per office.

​The formula.

Now that you know the general rule of thumb, calculating your estimated office space requirements is simple, just multiply the number of employees you have by the low and high end of the range provided above.

That being said, the formula would look like this:

Office Space Requirements Estimate (Low End of the Range) = Number of Employees x 125

Office Space Requirements Estimate (High End of the Range) = Number of Employees x 200


So, using the formula above, if your business has 25 employees, your estimated office space range would be 3,125 sq. ft. to 5,000 sq. ft.

Conclusion.

Using the rule of thumb and formula discussed in the post can help you establish an estimate of your office space requirements. However, there are many factors that go into finding the ideal office space for your business. So, if you’re looking for a new office space, we recommend you work with a broker, like us!

One year later: The fire that changed the NCACC.

3/2/2018

 
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Photo courtesy of the NCACC.

Displaced.


"It looked like a war zone."
- Kevin Leonard
Executive Director of the North Carolina Association of County Commissioners (NCACC), describing the aftermath of the fire that destroyed the NCACC offices.

At approximately 10:00 PM on Thursday, March 16, 2017, a fire broke out at the construction site of an apartment building in Raleigh.

By the end of the night, it would devour the entire 241-unit project and spread to 10 nearby buildings.

When the blaze was extinguished and the smoke disappeared, it would be remembered in the record books as the largest fire to scourge Raleigh in over 90 years.

After intense investigation, the cause of the fire was ruled inconclusive.

In the wake of destruction, businesses, families, and other entities of all shapes and sizes were left without a place to call home. Among them was the NCACC, an organization that advocates for the well-being of North Carolina’s 100 counties.

When NCACC employees left work to head home on March 16th, their offices were located in the Albert Coates Local Government Center and 15-story Quorum Center.

“It was a normal night,” Kevin recalled, “but it was unusually cold.”

When they returned the next day, their office space was hardly recognizable. Windows were shattered, office supplies were melted, and what wasn’t ruined by the ferocity of the blaze was damaged by smoke and water.

They knew they wouldn’t be going back anytime soon.

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Fire engulfing an office building on the fateful night of March 16, 2017. Photo courtesy of the NCACC.

"It was a normal night, but it was unusually cold."

Refusing to be stopped by the record-setting five-alarm blaze, the NCACC leadership team sprung into action.

The following day, they set-up a temporary command center at the Café Carolina in Cameron Village, where they could get their feet under them and put together a plan of action

Realizing that they couldn’t manage everything from the café, they moved their command center to the Wake County Library, where Kevin tasked NCACC CFO Elizabeth Floyd with finding a new office space.

On Monday, March 20, 2017, Wake County offered the NCACC a site. However, due to certain constraints and needs, the NCACC had to pass on the site.

Time was running out.

It was at this point that, through a strange series of events and connections, Elizabeth got in touch with Greg Hobbs, Owner of Hobbs Properties.

As luck would have it, Greg had a space open up at the top of his Six Forks Place III office building that had the infrastructure that the NCACC was looking for.

Greg invited them to the space and personally gave them a tour.

“As soon as we walked the space, we knew this is where we were meant to be,” remarked Kevin.

Knowing that it was crucial for the NCACC to get back on its feet as soon as possible, Greg quickly structured an arrangement that would allow the NCACC to get things up-and-running without skipping a beat.

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Six Forks Place III, the new home of the NCACC.

"As soon as we walked the space, we knew this is where we were meant to be."

On Friday, March 24, 2017, the paperwork was signed and the NCACC began the process of moving into their new home.

“It took one week,” Kevin recounted, which is important because, “For some people it’s an office, for others it’s life.”

The NCACC is now fully operational, advocating on behalf of North Carolina’s 580+ county commissioners from the 3rd floor of Six Forks Place III.

​To view our availabilities at Six Forks Place III, click here.

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Legal Disclaimer
The information above has been obtained from sources believed to be reliable.  While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it.  It is your responsibility to independently confirm its accuracy and completeness.  Any projections, opinions, assumptions or estimates used are for the example only and do not represent the current or future performance of the property. This information does not represent any offering and is subject to availability. Nothing contained herein shall be binding. 
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