Investors in commercial real estate work through many steps in the process of preparing and maintaining a property. Tenant improvement is a crucial part of that process that can be challenging and tedious. Rubicon Contractors can help you handle any size tenant improvement project on any property, whether it is industrial, multi-family, retail, office, or flex space. As experts in tenant improvement, we’ve had to conquer a wide variety of obstacles. Here are our best tips for making your next tenant improvement project go smoothly:
Take the time to find the right partner for your tenant improvement project.
Your construction partner will be your expert in everything from building materials and design to timelines and building regulations. You need someone who will finish the job on time, within budget, and is respectful of your tenants. Most importantly, you need a partner who is in line with your business’ goals, your company’s values, and your investment goals — choose wisely.
Communication is key.
It’s imperative that you communicate with your tenants regularly during the construction process in order to prevent and address any frustrations or needs that arise during the renovations. In order to do this, you need a general construction contractor you trust to transparently and consistently communicate with you. Each and every part of our team knows that communicating clearly and honestly is nonnegotiable — with our customers, with our trade partners and with each other. At Rubicon, we communicate any issues or concerns clearly and quickly so you know exactly where your project stands every step of the way.
Set a timeline and do your best to stick to it.
Your tenants are either displaced through the tenant improvement process or they are working in the midst of a construction zone. Once you’ve found a general contractor who has a proven track record of getting the job done right and on time, work with them to set a realistic timeline and regularly communicate progress and any delays or deviations to everyone involved, especially your tenants. This will ensure everyone involved is on the same page and can successfully complete the project while minimizing frustrations and headaches.
Add space and function through thoughtful planning and value engineering.
Value engineering makes the most of your business’ ideals, goals, and funds in order to maximize your property and space. You can achieve a luxury, first-class look that also maximizes the functionality of your space through value engineering. Work closely with your designers and engineers to take a holistic approach to your project. Consider your company’s and tenants’ values, business goals, and day-to-day operations in order to assess alternative ways to utilize your space and maximize its value and benefits. Hiring a general contractor with expertise in value engineering can save your company money while still achieving your desired end goal.
Balance your tenants’ wants and needs.
Consider the long-term implications of any renovations and how they add to or detract from the value and marketability of your space over the long term. Approach tenant improvement as a business decision and long-term investment in your company. Changes you make to your property and space can be both positive and negative. Regardless, communicate with your contractor and tenants to create the best environment for all involved. Rather than looking at only the bottom line in any construction decisions, consider the human element as well. Make construction and investment decisions that maximize the use and benefit for both owner and tenant.
At Rubicon, we realize that other tenants are occupying the space during this process. We pride ourselves on being respectful and flexible and we can work around any situation. Being a partner that can value engineer and help you achieve your goals is of paramount importance to us. Partner is the key word because we work to find thoughtful ways to add value to your project. We can support the culture and what you are trying to sustain by thinking outside of the box and bringing different ideas to the table. During your tenant improvement project, we will work hard to find different ways to improve and get more out of the space you have. Our commitment is to your investment, and we will do everything we can to make your space more productive and meaningful.
Want to learn more about our approach to tenant improvement? Let’s talk.