The simple answer is zoning. Retail spaces are put in areas that can handle high traffic demands with people going in and out. While office space has high traffic demands twice a day for people coming to work and leaving work. Other differences include types of leases where most retail spaces will have triple net (NNN) leases and office space will have Modified Gross (MG) or Full Service (FS) leases.

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Tenant improvements refer to renovations or alterations made to a rental space to meet the specific needs and preferences of the tenant. These improvements can range from simple cosmetic upgrades like painting or carpeting to major structural modifications like adding walls
or elevators.

The payment for tenant improvements is often negotiable between the landlord and the tenant. In some cases, the landlord may agree to foot the bill for certain upgrades as a means of attracting and retaining tenants, while in other cases, the tenant may agree to cover the cost of
the improvements. Current market conditions play a large role in dictating who has the leverage in the negotiations.

The specifics of who pays for tenant improvements are typically outlined in the lease agreement between the landlord and tenant.

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The square footage required per employee varies greatly depending on the industry, type of work being done, and company culture. However, a general guideline for office space is between 125-225 square feet per employee. Some companies may require additional space for equipment or storage, while others may have a more open floor plan with shared workstations. The trend has also shifted towards more flexible and collaborative workspaces, allowing for hot-desking and remote work options. Additionally, some companies may prioritize employee comfort and amenities, such as lounges, kitchenettes, or wellness areas, which can increase the required space per employee. Ultimately, the amount of square footage needed per employee should be determined by a careful analysis of the company’s specific needs and goals.

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In general, you do not need a broker to tour commercial spaces, but it can be helpful to have one. If you are looking for a commercial space to lease or purchase for your business, you can often contact the property owner or the listing agent directly to arrange a tour. However,
working with a commercial real estate broker can provide a number of benefits. Brokers have access to a wider range of properties, can negotiate better lease or purchase terms on your behalf, and can provide valuable advice and expertise throughout the process. Additionally, using a broker typically does not cost anything for the tenant or buyer, as the broker is usually paid a commission by the landlord or seller. Ultimately, whether to use a broker when touring commercial spaces depends on your individual needs and preferences.

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A triple net lease is a commercial real estate lease agreement where the tenant is responsible forpaying property expenses such as insurance, taxes, and maintenance in addition to the base rent. The triple refers to three expenses: insurance, taxes, and maintenance. The landlord is responsible for structural repairs, but the tenant is responsible for repairs to their leased space. In a triple net lease, the tenant takes on a significant amount of risk and responsibility. Triple net leases are most common in retail spaces, but can also be found in office buildings and industrial facilities.

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