Raw Space

Many commercial buildings offer tenants space in “raw” condition. A raw space is minimally finished with four walls and a door. To complete the raw space is commonly known as a “build-out”.

DEFINITION of 'Shell Lease'
A “shell lease” is when a tenant rents an unfinished interior space and completes the construction. The tenant will finish construction, fixtures, equipment, and furniture. Any improvement necessary to the space will the tenant’s responsibility. A “shell” or unfinished space is likely to be found in a new office unit or retail space.

Negotiations between a property owner and potential tenant are extensive and will include: 

    • Any proposed improvements or construction.
    • The party who will be responsible for the payments.
    • The party responsible for completing the work.
    • Any permitted improvements that may or must be removed at the end of the lease

BREAKING DOWN 'Shell Lease'
There are many forms of a “shell” lease contingent on the already completed work and the remaining work. In a “shell” lease, the tenant may complete substantial work and construction. Portions of construction may include installing plumbing, lighting, ceilings, interior walls, electrical wiring, elevators, and HVAC systems. Other “shell” leases will indicate what construction the property owner and the tenant are responsible for completing. Many leases include a financial incentive to the tenant for finishing construction.

Build-To-Suit: Utilized in commercial properties to lease space designed and completed to a tenant’s specifications, typically by property owners.

Office Construction in the City Raw Floor Plate

Summary

If you are searching for a raw commercial space in Manhattan, contact one of our established brokers. Our brokers have the details and spaces available in buildings throughout Manhattan. They can assist in finding a space to fit your needs and requirements.

If you are interested in or just considering renting or purchasing a raw space and would like more information, call us – as a tenant brokerage – our services are available to you at no fee. If you would like to ask some questions and receive some information, we can help at no obligation.





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Office Space Amenities / Features:
ADA Access
Attended Lobby
Balcony
Boutique Buildings
Breakout Rooms
Brick Walls
Bullpen
Carpeting
Close to all Transportation
Coffee Lounge
Concierge Service
Conference Room
Copy Room
Creative Space
Direct Elevator Access onto the Floor
Drop Ceilings
Efficient Layout
Exposed Beamed Ceilings
Exposed Ducts
Flexible Leasing Terms
Freight Elevators
Full Floor Office
Furniture & Phones
Glass Accents
Glass Fronts
Guest Seating Area
High Quality Finishes
High Speed Elevators
I.T. Closet
I.T. Room
Loft Layout
Mail Room
Move-in Condition
Onsite Management
Open Layout
Operable Windows
Oversized Windows
Pantry
Penthouse Office
Polished Hardwood Floors
Pre-wired for Voice & Data
Private Offices
Private Restrooms
Raw Space
Reception
Remodeled
Renovated
Roof Deck
Secure Keypad Entry
Skylight
Split AC
Stainless Steel Appliances
Storage Room
Sunlit Exposure
Supplemental AC
Tenant Controlled HVAC
Terrace
Turn-Key
Water Column Access
Whitebox

Services We Provide:
Architectural Coordination & Design
Architectural Requirments
Construction Supervision
Drafting Offers & Counter Proposals
Expansion of Space
Floor Layouts & Design
Landlord Concessions
Lease Exopirations
Lease Extentions
Lease Renewals
Leasing Space
Legal Consultation
Listing your Property for Sale
Listing your Space for Lease
Moving Details
Negoitate Lease Terms; escalations, rental rates, and utilities
Negoitate Rentals Rates / Increases
Office Space Touring
Real Estate Investment Advisement
Real Estate Tours
Satellite Offices
Tax Analysis

 

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