for a fixed period of time, reduced escalations, or tenant improvement allowances. They are usually for renovations of the space before you move into it. This is so you don’t have to pay for the space without working in it, but it is still yours while the buildout is taking place. Concessions will be negotiated with the lease and can vary depending on a tenant’s and landlord’s situation. Many times, free rent can be exchanged for other services to the building or something like taking on more space than you need. You will want to think deeply about your concessions wants and needs with your commercial broker before asking the landlord for them. Once the lease is signed they are set in stone. If you get the first two months’ rent off for construction before you move but need three, you are out of luck for that third month. When something is offered upfront it means that the landlord has covered it in the rent, but be wary because sometimes there are clauses in the lease that allow them to revoke the concessions under certain circumstances. Concessions are also given after some releases are signed. They are negotiated then, just as they would be for a new tenant.
TENANT IMPROVEMENTS
Usually, there is a set cost negotiated that allows for some of these on the owner’s dime. After that price is reached, then it’s up to the tenant to pay for improvements. It all depends on the lease and the state of the office space. In the manufacturing industry, this is a vital aspect for accommodating to different industries. With office space, it is
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