A tenant improvement is the process to configure a space to better suite the tenant's needs. A Tenant Improvement may include the design, construction, and furnishing of a physical space.
The cost of tenant improvements can range widely in scope based on the tenant's needs and geography. For this guide, we assume a vanilla shell, adequate power, and no change of use or development permits required.
All costs are industry sourced.
This guide is based on the average costs of projects across BC.
All costs assume a full tenant improvement from a warm shell.
A "cold shell" isa. space that has no furnishings, infrastructure, heat or plumbing. A "warm" shell, by comparison, could have heat and some other features already in place. To standardize costs included here, all figures represent the cost from a warm shell condition.
What is a tenant improvement allowance?
A tenant improvement allowance is money given from a landlord to a tenant to help pay for the improvements of a space.