Many creative and technology companies gravitate to loft office buildings due to their unique character as they are typically renovated warehouse buildings (either concrete or timber construction). In addition to the usual office building due diligence, below is a checklist that tenants should use in evaluating loft office buildings. To thoroughly evaluate a loft office building, a tenant should consider the assistance of a knowledgeable tenant representative, project manager, architect, engineer and general contractor.
- Building infrastructure including power, mechanical systems, plumbing, HVAC
- High-speed internet service
- Building structure, roof and windows
- Common area restrooms
- Elevator access
- Utility cost allocation
- HVAC maintenance and replacement obligations
- Historic or Landmark preservation issues
- Zoning (permitted office use?)
- Sound issues (concrete vs. timber floors)
- Floor load capacity
- Rights to access outdoor areas
- Parking & Public Transit
- If there is residential and/or retail use, how are expenses and ownership allocated?
- Life safety systems
- Code compliance, including, ADA
- Window Coverings
- Common Area Maintenance
- Suite Janitorial Service
Blackacre Advisors LLC
DISCLAIMER. Our writings are from a real estate transaction perspective and for informational purposes only. Nothing herein shall be considered legal, accounting, tax, or architectural advice. Please consult with the appropriate professional(s).