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Originally Published MX January/February 2006


Weighing the Options

After a company has conducted its facility needs assessment and location analysis, the next step in selecting a new medtech facility is to define and contrast the pros and cons of existing or future property candidates within a selected location. This can be done in a methodical fashion by listing and weighting each relevant attribute of a property (see table below).


Attributes
Building A
Building B
  Weight Grade Total Weight Grade Total
Location
Prestige
Proximity to transportation
Proximity to services
Area amenities
Zoning and permitted uses
Property management
Total average rent over the term of the lease, including escalations, pass-throughs on operating expenses, and taxes, if applicable
Inducements from landlord, such as rent abatement
Useable square footage
Load factor
Tenant improvement contributions from landlord, if applicable
Expansion constraints
Tenant improvement flexibility
Moving expenses, including furniture, fixtures, equipment, phone systems, computer wiring, etc.
Timing to move in
Parking ratio
Signage
Window line
Covered parking
Truck decks
Yard area
Exterior appearance
Clean rooms
IT infrastructure, including fiber and satellite dishes
Power
Water
Comfort and productivity
Layout design and functionality
Floor size and layout
Building amenities
Building systems
Private offices
Conference rooms
Reception
Rest rooms
Kitchen and break rooms
Warehouse size
Manufacturing space
ADA compliance
Building standard finishes, doors, hardware, lighting, etc.
Functional obsolescence
Building age
Ceiling Height
Elevators
Elevator appearance
HVAC
Number of floors
Floor size
Floor load
Floor drains
Asbestos, environmental, and structural review
Clear span
Truck and roll-up doors
Loading dock
Freight elevator
Power for manufacturing
Water for manufacturing
Security
Janitorial
Life support
Storage
   
Table III. An example of a worksheet that can be used to compare the benefits and disadvantages of two candidate properties. To complete the worksheet, assign each attribute a weight from 1-5 (5 being highest) according to the importance of the attribute. Then assign a grade of 1-5 (5 being best) for each attribute of each building. The total of the weighted values for each building can help company executives determine which facility best suits their companies’ needs.