5 Reasons to Move Your Office to the Suburbs During COVID-19

In this article, you'll learn:

How moving to the suburbs can lower your office occupancy costs.
How unconventional suburban locations can offer additional savings.
The potential benefits of following your employees as they move to the suburbs.

The coronavirus pandemic has caused major disruptions to every facet of life, and no matter what your industry is, your company is sure to have been impacted. Even with the rollout of vaccines, most experts predict that COVID-19 will continue to be with us throughout the coming year, so you'll need to take it into consideration when planning for the future of your business. Because your workplace has likely changed due to COVID-19, it could be the right time to consider relocating your office. Here are five reasons why a move to the suburbs may make sense for your company:

1. You'll Be In for Lower Occupancy Costs

As with consumer goods, supply and demand influences the cost of rent rates. Starting in the 1990s, companies began establishing offices in downtown urban location in hopes of attracting millennial talent that preferred city living over the suburban residences that many of them grew up in. This has led to huge demand for office space within crowded, congested settings, resulting in higher average rents in cities. By moving to the up-until-now less desirable suburbs, you'll be able to save on the cost of your rent.

2. Social Distancing Is Simpler

Because your dollar will go further in the suburbs, you can acquire more space without increasing your occupancy costs. With the extra room, it will be much easier to set up socially distanced work spaces. You may even be able to rent an entire building for your company, eliminating worries about neighbors bringing the virus into work. Even shared suburban locations are usually less crowded, and because there are likely to be many more vacancies, you have a good chance at getting a ground floor location that will keep your employees out of elevators.

3. You Could Save Big With Unconventional Locations

If you're willing to think outside of the usual office building box, you stand to reap even more savings with a suburban shift. The closure of retail businesses that began before the pandemic and accelerated afterwards has left shopping centers and malls with many open spaces. Because landlords are eager to attract tenants, you have a good chance of finding a former store front that can be remodeled to suit the needs of your company for a bargain price.

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4. Your Employees Might Be Moving, Too

A recent survey conducted by the International Council of Shopping Centers found that 27 percent of adults were seriously considering moving to the suburbs due to coronavirus concerns. Of that group, 43 percent of the surveyed millennials expressed interest in suburban living. By migrating with your employees, you can simplify their commutes and increase job satisfaction. You may also be able to draw talented new recruits from the pool of people who are fleeing the city.

5. A Downtown Location May No Longer Be Necessary

There's a good chance that many of your employees who have gotten to work from home during the pandemic will not want to return to the office even after the coronavirus is under control. As a result, you may not need a large office at all going forward. You can establish a small suburban home base for your teleworking employees to visit for periodic meetings and performance reviews and shift to a permanent remote workforce.