Los Angeles-area restaurant operators and retailers considering remodeling to attract customers and stay competitive have an unexpected ally. The government. More specifically, the Internal Revenue Service or IRS for short. This is due to the finalization the IRS issued Rev. Proc. 2015-56 - better known as the Remodel Safe Harbor Rule - which offers certain [...]
Whether you're a real estate developer, architect, or a property owner renovating a space, finding the right commercial construction company for your project is critical. Commercial construction projects can be massive endeavors. There is often a time crunch and strict budget constraints. The worksite itself is hectic. Hardworking individuals moving different parts towards one common [...]
Disclaimer: H.W. Holmes, Inc. curates this monthly summary of commercial construction and development news in and around Los Angeles, Ventura, and Santa Barbara, CA. We have no association with any of these developments unless specifically stated. Construction Begins on North Hollywood Mixed-Use Development Construction has officially begun on NoHo West - the redevelopment of North [...]
Mistakes happen but making a mistake during lease & tenant improvement negotiations can be costly for any small to medium-sized business. This YouTube video looks at five common yet preventable mistakes to watch for when looking for a new commercial space, negotiating or renewing a lease, or agreeing to a tenant improvement allowance. There's an [...]
Cell phone providers like T-Mobile or Sprint will sometimes pay a prospective customer's cancellation fee to get them out of their current deal and into a new contract. Auto dealerships often have "No Money Down!" promotions. These are called incentives. In commercial real estate, a tenant improvement allowance (TIA) is a similar type of incentive. [...]
You've negotiated tenant improvements and signed your lease agreement. Now it's time to find a commercial contractor in Los Angeles to start your project. Choosing the right Los Angeles area commercial construction company to work with is pivotal to your project's success. You'll need meticulous construction planning, cost estimates, project management, and skilled/experienced laborers. Here [...]
A tenant improvement allowance (TI allowance) typically sounds great when first presented. The landlord agrees to reimburse the tenant a portion of the costs of any improvements or buildouts needed for them to move into a space. However, be cautious prior to signing a lease and binding yourself to TIA terms. Tenant expectations often differ [...]
The Southern California region is filled with a lot of companies - each doing whatever they can to stand out and separate themselves from the pack. When it comes to making a great first impression on a prospective client or customer, many companies rely on their staff to turn on the charm. While you definitely [...]
Even when you hear talk that it's a "tenant's market," don't think you're going to encounter a desperate commercial landlord ready to rent their space to the first interested tenant. Most landlords have certain criteria that must be met. Variables like background checks, references, credit reports, tax returns, or even your personality are factored in. [...]
As is the case after every Presidential election, there's a certain amount of uncertainty looming over the commercial construction industry. By the middle of Barack Obama's first term in office, the construction industry had cut its workforce by nearly 40%; eliminating roughly 2.3 million jobs. Although the economy slowly picked up, bringing us more commercial [...]
