What is Tenant Improvement Construction?
12 Mar 2020 Custom Building
Understanding what tenant improvement construction is will give you a better idea of the work that can be completed to transform the space being leased. At Twin Maple Construction, they want to help you create the ideal space for your business. That is why they offer a range of tenant improvement services for commercial spaces.
What are Tenant Improvements?
Tenant improvements, also known as leasehold improvements, are modifications that are made to a commercial space by either the building owner or the tenant to configure the space to meet the tenant’s requirements. These modifications can include changes to the walls, floors, ceilings, lighting, etc.
Tenant Improvements in New Spaces
In a lot of cases, office spaces tend to be provided to tenants in shell condition in which most of the interior is bare or unfinished. This makes it easier for the tenant to customize the space to suit their specific needs. There are two different types of shell spaces that can have tenant improvements: grey shell spaces and plain vanilla shell spaces.
- Grey shell spaces, also known as a cold shell spaces, are part of an unfinished building in which the walls are bare, there is no electrical or plumbing, the floors are unfinished, and there is no ductwork or HVAC system.
- Plain vanilla shell spaces, also known as white boxes, are part of a building that is almost complete, as there is usually a ceiling, concrete or finished floors, electrical and plumbing, an HVAC system, and restrooms.
Plain vanilla shell spaces tend to offer shorter move-in times and tend to be less expensive when compared to grey shell spaces because the tenant improvements tend to be mostly for aesthetic purposes or the overall functionality of the space.
Tenant Improvements in Existing Spaces
When it comes to performing tenant improvements on an existing space, most landlords will offer a tenant improvement allowance so that the space can be reconfigured; however, since reconfiguring a space can be expensive, especially if it involves demolition, it is important to keep in mind that the tenant improvement allowance budget can be used up rather quickly. In most cases, it is a good idea to try to find a space that fits the majority of your requirements so that you can reuse or repurpose as much as possible.
If you would like to learn more about what tenant improvement construction is, or if you are interested in their commercial construction services, please contact Twin Maple Construction at 604-854-6790 or by filling out a contact form on their website.