Tag Archives: turnkey

Pre-lease IssuesTenant Build-out

Tenant’s Guide to Minimizing Office Construction Costs

As the economy continues to expand (along with office tenants), office construction costs continue to climb.  That’s due in large part to the strong economy as well as a shortage in construction labor and certain materials. In this post, I … Continue reading

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Pre-lease IssuesTenant Build-out

Overview of Tenant Improvement Strategies

While many lease provisions never come to light for tenants, there is one that all tenants face after the lease is signed: the Tenant Improvement Provision a/k/a “Work Letter”. Given the amount of dollars at stake and its operational significance … Continue reading

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Pre-lease IssuesTenant Build-out

Tenant Improvement Strategies – Allowance Approach

Under the Allowance Approach, the tenant is allotted a cash allowance from the landlord for construction and related costs.  To the extent the total costs are less than the allowance, and if properly negotiated, the tenant retains the savings.  On … Continue reading

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