Adapt your rented space for form and function with commercial tenant improvements from the experts at Cook Builders. We can help you improve your leasehold to meet your business needs. As a tenant, the commercial space you have leased may require extensive renovations in order for you to operate, or you may wish to alter the space for aesthetic reasons. Your project may be minor, but essential and you need a trusted contractor to execute your vision. Our commercial tenant improvement contractors can provide complete renovations, including changes to mechanical and electrical systems. We’ll complete your commercial tenant improvements in Utah on time and on budget.
WHAT WE DO
Build Outs
Trust your Utah commercial tenant improvement project to the pros at Cook Builders. We are experienced, licensed commercial contractors who will be your construction partner during every phase of construction.
When it comes to commercial build-out projects, communication is key. Our tenant improvement contractors are pros when communicating with our clients and we work hard to understand your priorities on your project.
You’ll receive top-notch customer care, efficient time management, reliability, creativity, and special attention to workplace safety. We’ll work hard to complete your commercial tenant improvement project on time and on budget.
What we do
Office Renovations
Not only are we licensed commercial general contractors in Utah, we’re experts at office renovations. We’ve renovated a wide variety of buildings to accommodate various functions, including call centers and open-office layouts. When you hire us, we’ll work with you to create the design that fits your needs and industry.
Existing commercial spaces can be challenging, but we can help you make custom tenant improvements such as adding windows, doors, and skylights. Not only do we help tenants in commercial office spaces, we have converted residential properties for commercial use and provide new construction as well.
Cook Builders Tenant Improvements FAQ
Frequently Asked Questions
What are tenant improvements?
The basic definition of tenant improvements, otherwise known as leasehold improvements, are any customized alterations a building owner makes as part of a lease agreement. Many tenants or business owners buying a new lease may ask for changes to the physical space that better accommodate their company’s needs. A few examples of tenant improvements include adding offices, kitchen, additional bathrooms, conference rooms, or customized color schemes.
Is tenant improvement an asset?
Incentivizing lease buyers includes tenant improvements, which are considered an asset of the lease. These improvements usually come in the form of a TI allowance. The improvement allowance is either a fixed amount or based on a certain price per square foot. You should discuss the terms related to the taxable asset with a financial advisor for distinct information.
How does a tenant improvement allowance work?
One of the most common tenant improvements that landlord pay for in a commercial lease is a tenant lease improvement allowance. The changes that a tenant asks for should fit within those pre-arranged means. If the cost of improvements exceeds that TI allowance, the tenant must pay the difference. Usually, those numbers breakdown by price-per-square-foot or a total sum. Some landlords are flexible and willing to negotiate the TI allowance, especially if the rental market is doing well.
What is the difference between leasehold improvements and building improvements?
A building improvement is a change done by the building owner that improves function, increases value, or extends use. Leasehold or tenant improvements are made for a specific tenant’s benefit. The Internal Revenue Service also treats these different types very differently.
What are the most worthwhile tenant improvements?
Tenant or leasehold improvements are made to the interior of commercial spaces. The type of tenant improvements that are the most worthwhile, depends on the business leasing the building. If you are making changes beyond the basics, a few to consider include break rooms, additional meeting spaces, reception areas, high-efficiency lighting, upgraded HVAC systems, and increased ceiling height.
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