Unanticipated circumstances can significantly raise tenant improvement costs. Time is money. Nothing screws up a timeline or budget like a concealed or unforeseen condition. Some things just can't be anticipated - even after a seemingly thorough onsite inspection. This is why there's no such thing as a 100% accurate cost projection. In this blog post, [...]
As we near the end of another year, we thought it would be interesting to talk about some trends we've seen as California tenant improvement contractors in 2017. Lucky for us, it's been a great year for commercial renovations, which happen to be our specialty. But what kind of trends are we seeing overall in [...]
Disclaimer: This is a monthly summary of Los Angeles commercial construction news curated by H.W. Holmes, Inc. We will cover recent commercial construction projects and news pertaining to Los Angeles, Ventura, and Santa Barbara counties. We have no association with any of these developments unless specifically stated. WESTERN PACIFIC BUILDING IN DOWNTOWN L.A. BEING CONVERTED [...]
A booming pipeline of restaurant construction jobs has many Southern California commercial construction companies staring at a full plate right now. If you look at any Los Angeles-area commercial builder's portfolio, you're very likely to see many restaurant builds showcased. The LA area hasn't seen this number of new restaurant construction projects since perhaps 2008. [...]
Most retail lease negotiations will involve a conversation about tenant improvements or customizations. Naturally, who is funding any necessary retail tenant improvements will be one topic of discussion. The outcome of this discussion is usually the landlord provides a tenant improvement allowance as a way to entice the tenant into signing. However, it's not always [...]
Sometimes the tenant improvement allowance offered isn't enough to cover every improvement or upgrade the space needs. When this happens, you really only have two choices. You can either pay out of pocket to afford the build-out you've envisioned or you can be creative when it comes to getting the most bang for your buck. [...]
A commercial lease's Tenant Improvement Work Letter outlines any renovations needed to customize the space for the tenant's use. This work letter can be structured many different ways. However, it's ultimately the tenant's responsibility to decide whether they or the landlord will manage the design and construction process. There's no right or wrong choice. There [...]
It's important to iron out the details of any work a tenant needs to customize a space to their specific use or needs. Before anything is signed, both the tenant and landlord need to clearly understand who is responsible for what. This is most commonly done with either a Turnkey TI or a TI Allowance. [...]
Nobody thinks of business growth as problematic. But more business generally means you'll need to hire more people. Soon enough, you just may find yourself outgrowing your current office space. Ideally, you'd probably like to pack some boxes and move you and your team into a brand new space with more square footage. However, that's [...]
Small-to-medium sized businesses (SMBs) make far too many mistakes when renting or leasing a commercial space. In this post, we'll outline several key mistakes SMBs make. Rental and lease payments are one of the top expenses incurred by most SMBs. Making a mistake early-on in this process can be devasting to a businesses bottom line. [...]
