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Financial Institution Tenant Improvement

Financial institutions often are in need of tenant improvement services to help modernize the facility not only for customers, but for the employees and overall operations. When it comes to tenant improvements for a financial institution or bank branch, this means much more than applying a fresh coat of paint to the facility, it entails a restructuring of the lobby, modernizing the employee lounge, kitchens, bathrooms and conference rooms. Sometimes bankers and managers think that a remodel isn't worth it and that the best decision is to start from scratch, this isn't always necessary or the case. The goal of the financial institution tenant improvement project is to bring the location up to modern standards not only for your clients and prospects, but to create a more vibrant location for employee satisfaction.

The team at CREW Builders has the experience to execute a design build approach to your tenant improvement project providing a one-stop project management from everything including design and architecture, to budget analysis, obtaining necessary permits, managing specialized subcontractors, and taking the lead from the project start to completion.

To reach CREW or request a bid, please fill out our "Request Information" form or give us a call!

858-587-0900

Some of the more common reasons we come across that a financial institution is looking for tenant improvements include:

Reallocate Misused Space
Update / Modernize Conference Rooms
Update / Modernize Lobby
Bathroom Improvement / Employee Lounge
Integrate New Technology
Reduce Staffing Requirements
Update the Exterior
Experience a Shorter Project Timeline

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tenant improvement financial institution

Integrate New Technology

When you decide to remodel your financial institution, this opens up a terrific opportunity to integrate better technology in to the overall operations. Lobbies are often designed around functionality, and while often overlooked, technology can also play a role in functionality.

As the banking technology continues to evolve at a rapid pace, a bank branch remodel with outdated technology is not set up properly for providing the best client experience. By modernizing your financial institution this can help to enhance current client relationships and attract prospective clients as well. Not to mention the employee satisfaction that comes when their place of work provides a modern and comfortable setting in which they can provide banking services for clients.  

To reach CREW or request a bid, please fill out our "Request Information" form or give us a call!

858-587-0900

tenant improvement contractor finance business

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Commercial General Contractor Frequently Asked Questions

What is a commercial tenant improvement?Frequently Asked Questions

A commercial tenant improvement refers to the renovations or alterations made to a commercial space by a tenant to meet their specific business needs and requirements. When tenants lease a commercial property, most times it requires modifications to remodel or renovate the space into a suitable environment for business operations. Examples include full interior remodeling, electrical & plumbing, HVAC systems, technology implementation, accessibility enhancement, and code compliance. In some cases, the landlord may provide a basic build-out while in others, the tenant is responsible for the entire project.

Are tenant improvements an operating expense?Frequently Asked Questions

Tenant improvement projects are usually categorized in to either an “operating expense” or a “capital expense”. If tenant improvement projects are relatively small and do not significantly increase the value or extend the useful life of the property, they are often treated as operating expenses, in which case they are expensed in the period they are incurred. If the tenant improvement project is substantial and results in a significant increase in the value or useful life of the property, it may be considered a "capital expense". Capital expenses are usually depreciated over time rather than being expensed immediately. NOTE: It’s important to talk to an accountant or financial professional for accurate guidance and applicable accounting rules.

Who is responsible for paying for commercial tenant improvements?Frequently Asked Questions

The responsibility for paying for commercial tenant improvement projects varies on the terms negotiated between the property landlord and the tenant. There are 3 common approaches. Tenant Pays: the tenant is responsible for covering all costs of the improvements or modifications in the commercial space. Often seen where the tenant has specific requirements for customizing the space. Landlord Pays: the landlord may agree to cover some or all of the costs associated with tenant improvements and is often seen as an incentive to attract tenants and make the space more appealing to a particular tenant’s requirements. Shared Costs: a situation where the landlord and tenant agree to share the cost of the tenant improvements. Could involve a split in expenses based on a predetermined percentage with each side contributing accordingly. The “cost-sharing” terms need to negotiated so both parties are clear on their financial responsibilities.

How long does a commercial tenant improvement typically take?Frequently Asked Questions

The duration of a commercial tenant improvement project varies on several different factors including scope of work, size of the space, and the complexity of the renovations. For smaller projects involving minor renovations or modifications such as cosmetic changes or space reconfiguration can usually be completed in a few weeks. For larger more complex tenant improvement projects that may involve significant structural changes, extensive plumbing work, or construction of a new room or facility can take longer as these projects usually require architectural and engineering design, obtaining permits, coordinating specialized sub-contractors and obtaining compliance with building codes and regulations. As a result they can take several months. It is advisable to note that unforeseen such as design changes, material availability, or unexpected construction challenges can prolong a project.

Are there any specific building codes or regulations that need to be followed during commercial tenant improvements?Frequently Asked Questions

Yes, there are usually building codes and regulations that need to be followed during commercial tenant improvement projects. The exact requirements vary per location and the specific nature of the project. For building codes and regulations these can include electrical systems, fire safety, zoning regulations, environmental regulations, and ADA (American Disabilities Act) compliance. The commercial contractor being used to renovate the space will have a full understand to the local codes and regulations in the region of business

Is it common for landlords to offer a tenant improvement allowance?Frequently Asked Questions

Yes. It is common for property managers or owners to offer a tenant improvement allowance. It varies on various factors such as location, type of property, and the market conditions. A tenant contribution allowance is a contribution made by the landlord or towards the cost of modifying or improving the leased space to meet your specific needs and requirements.

What are the benefits of a design build commercial contractor?Frequently Asked Questions

A design-build contractor offers several benefits that help business owners and key stakeholders to minimize the stress that can come from the “traditional construction methods” used in the past. The biggest benefit of the design-build approach is that the contractor takes on both design and construction responsibilities. All aspects of the renovation, or build-out, are handled by one company, taking the stress off the business to manage all the aspects of the project from design and architecture, obtaining permits, managing sub-contractors, and construction.. Every phase is handled by the design-build contractor so there is one source of management, and one source of communication. This reduces risk as the design build contractor assumes all responsibility for coordinating and managing every step of the project.

How does a tenant improvement contractor manage timelines and budgets for a project?Frequently Asked Questions

A tenant improvement contractor manages the timelines and budget for a project in a few different ways, the first way is through project planning. The contractor will begin by obtaining a full evaluation of the requirements and scope, which includes architectural plans, space assessment, and the client’s expectations. Through cost estimation, the contractor will consider factors that include permits, materials, equipment rentals, subcontractors and any other project expenses. There will also be a detailed schedule that outlines all tasks, milestones, and deadlines, with this sequence a realistic timeline will be created. And finally, one of the most important aspects is communication. A qualified commercial contractor will have a dedicated project manager to communicate with the project key stakeholders on timelines and updates. This includes regular progress meetings, reporting, and documentation to address any issues quickly.

What is the process for obtaining permits for tenant improvements?Frequently Asked Questions

The process for obtaining permits for tenant improvement projects varies depending on the specific jurisdiction and local regulations. In general, the scope of the tenant improvement will determine the permits you will need to obtain, these changes that need to be identified include interior renovations, electrical work, plumbing modifications, or structural changes. The contractor will need to prepare the permit application documents which usually include detailed plans, drawings, specifications, any other supporting documents the local building agency requires. Once the documents have been reviewed, you will receive the necessary permits to proceed with the tenant improvements. Make sure to keep the permits on-site so they are accessible for inspectors.

Can a tenant hire their own contractors and architects for tenant improvements?Frequently Asked Questions

Yes. Tenants do have the ability to research and hire their own contractors, designers, and architects for their tenant improvement needs (subject to the terms and conditions outlined in the lease agreement). Hiring a specialized commercial contractor for the project is the smart way to go as it takes the stress off the tenant to manage the entire build-out process from design, architecture, obtaining permits, managing specialized sub-contractors, and construction.

Commercial General Contractor

CREW Builders is a specialized team of professionals dedicated to enhancing and customizing commercial spaces to meet the unique needs and requirements for our clients. We have decades of experience in transforming commercial spaces into functional and aesthetically pleasing environments, tailored to the needs of businesses. Our responsibilities include everything from interior design and layout planning, structural modifications, electrical and plumbing work, and the installation of fixtures and finishes. As a commercial tenant improvement contractor, we work closely with property owners, tenants, and architects to make sure that the result aligns with our clients’ vision and operational demands, leading to a conducive and productive workspace.

Tenant Improvement Specialists
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Commercial Contractor

CREW Builders offers a comprehensive design-build approach to commercial projects. Unlike the traditional “design-bid-build” method, where the design and construction phases are separate, as a general contractor, CREW seamlessly integrates both aspects under one roof. This collaborative approach streamlines the construction process, creating improved communication and coordination between designers, engineers, and builders. By bringing together design and construction expertise, the team at CREW is will-equipped to deliver cost-effective, efficient, and innovative solutions to our clients, making sure that our projects are not only visually appealing, but also functional to meet the needs and goals of a business. The design-build approach we take not only saves time, but also minimizes the potential for conflicts and change orders.

Our service areas

Crew Builders, Proudly Services Southern California And Arizona

San Diego Office

8130 Commercial St
LA Mesa, CA 91942
PH: 858-587-0900

Orange County / Los Angeles Office

660 West Baker St.
#B-103
Costa Mesa, CA 92626

Arizona Office

#1122 2501 West Happy Valley Rd.
Phoenix, AZ, 85085