Commercial Real Estate

Understanding Your Commercial Lease: Tenant Improvement Allowances

Tenant improvement allowances are often one of the most important issues for a new tenant when finding and negotiating a commercial lease, especially when the tenant is a start-up. In basic terms, the tenant improvement allowance is the amount of capital the landlord is willing to put into the space for the specific requirements of the tenant’s particular use of the space. Another way of saying it is that tenant improvement allowances are the amount of money the landlord will spend to alter the structure, including on building walls and other partitions, modifying building systems, like plumbing, electrical, and HVAC, and making common space adjustments to facilitate your intended use. “Tenant improvement allowance” can mean many different things, but they...

Read More

Commercial Real Estate

Understanding Your Commercial Lease Agreement Series

When starting or expanding your business, you’ll likely be looking at leasing a new commercial space. Some small (and a few large) businesses may go from startup to dissolution without entering into a commercial lease agreement, but the vast majority of businesses will at some point need a place to house employees, store inventory or supplies, and meet with clients and customers.

Indeed, for certain businesses, the location of a commercial space can be one of the most influential factors in their entire business plan; a commercial lease agreement may be one of the largest contracts into which a business will enter.

Understanding what goes into a commercial lease, what landlords want from tenants, and what tenants can expect and should ask...

Read More

Commercial Real Estate

A Guide to Leasing Commercial Office Space

Leasing commercial office space often involves a unique set of complexities and elements. Today’s post will boil these complexities and elements down to a very basic level. The goal is to provide a simple guide to assist startups in finding the ideal work space, under reasonable terms.

Typical Pricing for Commercial Office Spaces Generally, commercial office space is leased on a “dollars per square foot per year” basis. For example, you may see lease pricing in terms such as $15/foot; 3,000 square feet. Under this scenario, the lease would be $45,000 per year, paid off in monthly installments of $3,750. The landlord may also require a security deposit, similar to when you rent a residential space.

Useable Square Footage Often, the numbers aren’t as...

Read More

146 N Canal Street, Suite 350   |   team@invigorlaw.com