The main reason as to why a company will move to a new building is because their company is growing. The more individuals working for said company, the more space is needed for them. Basically, the more people hired, the less space a building has. It is not exactly a comfy situation when there are so many individuals in one place, especially during times like the pandemic. The best option would be to obtain a new space with more room, and maybe even extra space to hire even more hands for the company in the future.
With hiring more people, there is the option to expand on the building rather than buying or renting a new one. However, while the company continues working within the building as they usually do, that building is also aging. Issues may come up that may make the building no longer healthy or safe to work in any longer. When that is the case, sometimes purchasing and moving into a new building is not only safer but may also save the company more money rather than renovating. There is also the possibility that moving to a new building will save the company in transportation costs by being closer to locations where the material is located or where services are more commonly required. The same could be said about wanting to move to an area to attract a new and bigger market!
Believe it or not, owners may also move buildings in order to stay organized. As companies grow and branch out, owners may decide to adjust the layout of the office. As a smaller company in one building, departments may be mixed up, with another building or a new building, company owners have the ability to adjust the layout of the office and move their departments around to better display the different departments. It will also help by removing distractions from the other departments. Say for example sales representatives may be on their phone with a client, but a mover is in the next room moving a piece of furniture and it might be a little too loud for the sales representative to focus.
It could also be the complete opposite situation. With a smaller team, the company owner may want to consolidate, and in order to do that, they may need to move to a smaller location that may also be cheaper. If the owner has multiple offices An owner might have too many offices and can consolidate by merging offices together. Why pay for two buildings when you can have one, especially if one building is large enough to easily manage a team together rather than split up over multiple buildings. Saves money, and saves travel time if you have to meet with another employee in another building.
Relocating to a new building may also benefit the hiring process. If the company is looking for specific employees, a new location may be the hub of what the company is looking for. Maybe the company needs an artist or an engineer, they can choose their location based on their needs. The same goes for when they want to relocate their center of operations in order to support their current employees. Could be to have more parking or even better safety.
Relocating a company is based on the needs of the company, but it is also based on the employees too and how the company owner wants to support their employees.