In real estate, a tenant improvement, or leasehold improvement, is “the customized alternations a building owner makes to rental space as part of a lease agreement, [to] configure the space for the needs of that particular tenant. These include changes to walls, floors, ceiling, and lighting, among others.” When your business/company upgrades to a larger space, the space you’re working in should be customized to your needs and fit the look and appeal of your brand. Often there is a clause for tenant improvement in the lease. It would be valuable to get the most out of it.
What have we seen done in our Tenant Improvement projects?
We’ve seen a smart use of materials and creativity let loose from fun paint colors, wallpaper designs, and murals to laminate/vinyl flooring with soundproofing beneath.
With our recent project On Glendale Blvd, the tenants had various colors to match their company logo throughout their walls. The designs and patterns were refreshing and different.
In the individual offices, they made use of wood wall paneling to add texture and character.
Our Tip: Know Your Design + Budget
We highly suggest consulting an interior designer that specializes in tenant improvements. They understand the functionality and use of an area from corporate offices, retail, restaurants, and such. A simple understanding of electrical outlet placement, flow between desks/tables/chairs, hiding acoustic paneling to absorb sound makes a considerable difference to the efficiency and productivity of your employees.
Budget. Budget. Budget. With the cost of materials fluctuating because of supply shortages, always leave an allowance in your budget for variation and last-minute changes.
Tenant Improvements Post-Pandemic
We’re now seeing a significant impact from remote work. Many companies are downsizing their office spaces. However, if your employees cannot work remotely, then the spacing between them must expand.
We’d love to chat with you about your tenant improvement. Contact us today.
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