When leasing commercial real estate properties such as office space, retail space, or warehouse space, tenant improvement allowances (aka TI Allowance or TIA) to build out the space are a large part of any lease. KMC is able to review the existing site conditions, as well as the landlord work letter or lease, and provide a written report on the status of the space and if it meets standards as outlined in the lease.
The tenant improvement allowance is the amount of money that landlords are willing to spend or give to a tenant to renovate a space in the landlords building. It's typically offered as a total dollar amount or a dollar per square foot and negotiated up front. With a KMC Report on existing conditions and with our knowledge on what to look for in a space that can result in hidden or unknown costs, KMC has a successful track record of increasing Tenants TI Allowance during lease negotiations as well as decreasing costs during construction because of unknown issues that arise.