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 [...]
Retail store owners spend a lot of time looking at their store. They're constantly looking for ways to freshen up its appearance. Perhaps they'd like to give it a more hip or trendier look. Make it more inviting to those walking by or easier for customers to navigate once inside. Yet, in our line of [...]
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. BISNOW PANEL LOOKS AT THE STATE OF LOS ANGELES RETAIL MARKET BISNOW hosted a Los Angeles State of the [...]
A TI Allowance is a huge selling point for both tenants and commercial property landlords. The landlord is looking to attract a desirable tenant with a sweet deal to renovate the space to accommodate their specific wants or needs. The tenant is looking for a space that won't require much out of pocket expenses to [...]
Tenant improvement projects used to be pretty cut and dry. Specifically, office tenant improvements. Make some aesthetic improvements to the reception area, maybe spruce up the break room, add some storage space, build-out some private offices for the bosses, make an accommodating conference room, and insert rows and rows of cubicles for workers. Today, there [...]
