- Joined: 3/28/2006
- Location: portland, OR
tenant improvement costs for new space
Tue, 03/28/06 7:01 AM
I am putting together $$ estimates for opening a restaurant in a new plaza. Since there is absolutely nothing in the building...it's basically a shell...the initial costs is staggering if I had to shoulder it all. Has anyone had experience in a similar start up? Can you typically negotiate a tenenat improvement allowance? Is the HVAC installation paid for by the tenant or does the developer usually take this on? I'm not sure what a developer typically pays for and gets into place before a tenant steps in and hire their own general contractor for the improvements.
I grew up in a restaurant business...working since I was 12, so I have a handle on what equipment is needed and cost for the business. My family bought an existing store so I have no experience about a virgin site. The location is the driving factor for this adventure.