Costs play a major role in the selection of new or existing facilities. They will vary from location to location, depending on such factors as the age and condition of the base building, tenant improvements already in place, planning efficiency, the amount of square footage required and the cost of future improvements. All costs need to be evaluated against the landlord allowance, and possible capital expense.
Gibraltar provides comprehensive project budgeting to assist in evaluating every situation, so our clients are not surprised by any items they may be overlooking.
Costs can fall into many categories. Gibraltar’s goal in determining which planning scenario ultimately works best is to provide cost information for each building, and evaluate the options prior to making a lease commitment. Improvement allowances are usually determined on a per rentable square basis and, thus, will vary from location to location. A more efficient plan requiring less square footage may provide a less total dollar amount for tenant improvements, and therefore should be weighed against the other potential costs anticipated.