Building owners typically include a tenant improvement or TI Allowance (TIA) in a lease agreement. This TIA enables the tenant to customize a commercial or retail space to suit the specific needs of their business. This allowance is generally accompanied by strict rules covering fees (project management, designers and engineers, permits) and actual construction costs. [...]
At the beginning of 2020, Los Angeles office space was dominated by tech and entertainment/media companies paying record high rents. But exactly how much will the metro's office market change through this pandemic. In this blog post, Los Angeles area office tenant improvement contractors H.W. Holmes, Inc. look at a few things we're hearing from [...]
Needless to say, the COVID-19 pandemic has completely upended our work lives. Businesses who had invested so much into their office lease and design not too long ago are now left trying to figure out if their office layout makes sense in this "new normal." While offices have been attempting to accommodate an increasingly flexible [...]
The traditional office will probably look very different in a post COVID-19 world. With so many people working remote, many companies are reevaluating their office space needs. While some business owners may want immediate tenant improvements to better optimize square footage; for example, to accommodate social distancing requirements to give employees more personal space, others [...]
Tenant or leasehold improvements are improvements made by a landlord to attract or retain a tenant. The tenant can request specific customizations to the space's interior to better suit their needs or preferences. These improvements can be paid for by either the landlord or tenant. This is all negotiated and outlined in the signed lease [...]
Whether your company is looking for office space in a newly constructed development or a previously occupied space in an older building, the building owner will likely offer a tenant improvement allowance. A TI allowance is a dollar amount the landlord offers to cover the cost of any customizations you want done to the space. [...]
Despite some mid-year projections that office construction would slow in 2019 due to increasing construction costs, current real estate cycle uncertainty and zoning issues, Los Angeles area office construction projects continue to rise as part of a commercial construction boom not seen in LA since the roaring twenties. In this blog post, we'll take a [...]
Customizing a space you'd like to rent or lease to better suit your needs is called a tenant improvement. To defray the cost of this customization or buildout, a landlord will often offer a tenant improvement allowance. This is a sum of money, sometimes referred to as a TI allowance or a TIA, that's put [...]
The size of the average law firm office has shrunk in overall square footage over the course of the last five years. While many associate this with the emergence of younger smaller firms, there are other factors playing into this. In this blog post, Los Angeles office construction contractors H.W. Holmes, Inc. look at a [...]
2019 has seen a continuation of tech and media tenants grabbing up available office space in and around Los Angeles. According to commercial brokerage Savills, leasing activity in the second quarter of 2019 reached 5.3 million square feet - a three-year high. Leading this leasing frenzy are companies like Netflix, Amazon, Apple, Facebook, and Google. [...]
