Why a Landlord’s Financial Position Matters More Than You Thought

During lease negotiations, a landlord will ask the tenant to present financial statements. This is done to ensure the tenant has the resources to carry out lease obligations. In fact, the review and approval of a tenant’s financials are contingencies in most letter of intent forms. This covers their rear end. Why not cover yours? […]

What’s Trending in Creative Office Design

Office design today plays an integral role in a company’s branding, success, and growth. Modern offices have evolved from the days of soul-sucking high cubicle walls and horrible fluorescent lighting. The workplace today is all about experimentation and breaking from tradition. Today’s employee can be as nomadic as they choose to be – thanks to […]

4 Untrue Myths About Tenant Improvement Allowances

Tenant improvement allowances (TI allowances) are a significant expense for landlords. Customizing even a smaller space can often cost a landlord up to six figures. As with anything carrying that kind of price tag, a lot gets said about the true value or worthiness of tenant improvements. Some of what gets said simply isn’t true. […]

Tenant Improvement Construction – What Your TIA Does & Doesn’t Cover

Tenant improvement allowances (TIAs) are greatly misunderstood. A TIA isn’t a cash advance. It’s an agreement between the landlord and tenant where the tenant gets reimbursed for any tenant improvement construction needed. The intent of this type of tenant build-out is to customize a space for their use. The caveat, however, is certain conditions must […]

4 Secrets to Negotiating a Killer TI Allowance

Ask For a Cash Allowance Before a TI Allowance

Although they’re basically the same thing, there is one key difference. With a TI allowance, a tenant will usually have to first pay the contractor out of pocket. When construction is complete, they present the landlord with receipts and they’re reimbursed whatever they paid out.

With a cash […]

What is a Tenant Improvement Allowance?

HOW MUCH WILL A LANDLORD PAY TO HELP CUSTOMIZE A SPACE FOR YOUR USE?
When you’re shopping for a commercial space, very rarely will you come across a location that’s seemingly tailor-made for you and move-in ready. Maybe it’s a great location but the interior hasn’t been upgraded since the 90s? Maybe a wall needs to […]

Consider Above the Ceiling Factors in an Office Build-Out

There’s a saying, “out of sight, out of mind” that can be applied to many different scenarios. However, when it comes to renovating an office space, let’s just say there’s much more than meets the eye. What’s above an office’s ceiling grid is often overlooked if not completely disregarded. But modifications made below the ceiling […]

Who Pays for Tenant Improvements?

While we are not legal experts, and advise anyone negotiating a lease to seek legal counsel, as commercial builders – we’ve completed our fair share of tenant improvements. If improvements are needed to turn a space you’d like to lease into a space you can actually use, here are some things to know going into […]

5 Ways to Get More From Your Tenant Improvement Allowance

Sometimes the tenant improvement allowance offered isn’t enough to cover every improvement or upgrade the space needs. When this happens, you really only have two choices. You can either pay out of pocket to afford the build-out you’ve envisioned or you can be creative when it comes to getting the most bang for your buck. […]

What’s Better for Tenants – a TI Allowance or Turnkey Approach?

It’s important to iron out the details of any work a tenant needs to customize a space to their specific use or needs. Before anything is signed, both the tenant and landlord need to clearly understand who is responsible for what. This is most commonly done with either a Turnkey TI or a TI Allowance. […]