The alternative is to negotiate with the landlord to build out the space before turning it over to you. You will then be charged an additional fee per square foot for the improvements. When you do that, you limit yourself to previously built-out space and you give the landlord more power. According to Broadhead, it takes about two weeks for a prospective tenant to review existing office space and determine what will suit his or her needs. It takes another two weeks to negotiate the lease document.
Revisions mean additional time is needed.
Next comes the lease negotiation with all parties involved, which averages about four weeks, then the permitting process, which, prior to the preliminary plans, will require working drawings. After that comes the actual build-out, which averages 45 to 60 days. Broadhead noted the necessity of utilizing a broker in lease transactions, pointing out that experienced brokers understand landlords, know the local market, the prevailing options and concessions and can assess the pros and cons of various locations. Of course, it's a two-way street. The more information prospective tenants can provide us, such as their size requirements, what their needs are, their signage requirements and timetable, the easier it makes the job.