A provision in a lease for an office or retail space that provides a certain sum or amount per square foot to the tenant to customize the space.
Leasehold improvements refer to any changes or additions made to a rental space by a tenant that are intended to enhance or adapt the space for their particular use. These modifications are typically attached to the property, involve investment in fixtures or installations, and must comply with the terms of the lease agreement.
A 'Shell' refers to the structural frame of a building that has been completed to a point where it is ready for tenant improvements. This typically includes the main structure, basic utilities, and HVAC installations, but lacks interior finishings.
Tenant Improvements (TIs), also known as leasehold improvements or build-outs, refer to changes made to the interior of a rented commercial property to customize it for the specific needs of the tenant.
Tenant Improvements, often abbreviated as TIs, refer to the customized alterations a building owner makes to rental space as part of a lease agreement to configure the space for the tenant's specific needs.
A Tenant Representative Broker represents tenants in seeking the best property to lease, negotiating favorable transaction terms, and assisting with related leasing processes.
