Any new facility lease, lease expansion, lease renewal or a facility purchase involves much more than just negotiating a favorable transaction.
Relocations or expansions can create significant demands on key personnel to manage numerous issues. As only one example, almost every relocation or expansion (whether via lease or purchase) involves some level of interior construction, called Tenant Improvements (“TI”) construction, ranging from relatively minor (new carpet and paint) to very significant when this build-out starts from a “shell” condition.
Who in your organization will:
Oversee the design process to achieve the company's goals while maintaining the required construction budget?
Manage the actual construction process to assure that questions are answered, issues are resolved and the project is constructed in compliance with the agreed plans?
Manage specification, procurement and installation of new furniture and tenant improvements?
Manage IT infrastructure design and installation, including relocation of existing phone and data lines?
Procure new stationary?
Coordinate the actual move?
Keep the project on schedule (thereby preventing hold-over rent at the existing premises or loss of free rent at the new location)?
Communicate effectively with all interested parties and address all issues as they arise?
“All of these tasks require a significant investment of time and draw key personnel away from their primary responsibilities.”
Norman S. DeHart –
Principal and Managing Broker
The Challenge of TI Construction
Even if the Landlord delivers the TI construction on a “Turnkey” basis (where the Landlord manages the process), the construction drawings must be created with a high level of detail, and the construction carefully supervised to assure that you are getting what you need and expect. In cases where the Landlord provides only a TI Allowance (where the Tenant oversees all aspects of the build-out), these funds must be managed carefully to ensure they fully cover the costs of construction.
Engaging Experienced Project Managers
Guidance can help! We offer a full range of Project Management services including:
Interior Architect Selection and Contract Negotiation
General Contractor Pre-Qualification, Selection and Contract Negotiation
Construction Pricing Review and Value
Furniture design, procurement and installation
Phone & data cabling design and installation
IT design, relocation or modification
Phone and data services relocation coordinated to minimize or eliminate downtime
Office technology specification and procurement for phone system, photocopiers, etc.
Move vendor selection and move coordination
Project tracking to assure that the entire project stays on budget and on schedule
contact us to discuss ways in which Guidance Project Management Services can help you save time and money, and deliver your project on schedule.
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