Here's the deal: Commercial Office Space May Require Construction.
If you are leasing over 1,000 SF of office space for 3 years or more, chances are there will be some type of construction required prior to moving in. In most cases the cost of the construction is paid by the landlord through the TI (tenant improvement dollars). If you are buying an office building, there will likely be renovations that need completed before the purchase.
The problem: Landlord's want to control the process.
Commercial office buildings often have their own project managers. The landlord typically structures the lease so that their own project managers control who bids on the project. The landlord typically charges 3% for this service. The lease will have a commencement date and for you to move in and utilize the space the construction will need to be completed prior to the commencement date. The problem is the landlord is often not motivated to spend the TI dollars to maximize what you get for the money. Also, the landlord is not motivated for the construction to be completed prior to the commencement date.
I can't emphasize this enough: These problems can be avoided.
Using our tips on how to negotiate a great commercial office space lease you can regain control of the process. We can then provide you with construction project management that maximizes your TI & gets the construction done prior to the commencement date.
Our Expert Project Management Services Include
- Construction drawing review & analysis prior to bid.
- We bid the construction to multiple qualified contractors. When the contractors see the request for bid is coming from our project manager, they know they must be more competitive.
- Bid document review.
- Contract administration.
- Permitting (if required).
- Performance & milestone monitoring.
- Risk management.
Learn more about our commercial real estate services or contact us today to get started.