IF you build it…
Before you even think about looking …If you don't know what you need, how will you know when you've found it?
What do you need to Succeed? Financials: OpEx versus CapEx Market Analysis Business Model Key Subcontractors: Riggers/Structural Engineer, Insurance, FF&E Planned Equipment Growth Plan & Goals These factors add up to determine your Studio's design and space needs!
The space hunt & Lease negotiations … There is no harm in asking.
Finding the space Broker versus Self search Pricing Comparables & Market Research- $/SF Location tours: Game Face Building systems: HVAC, Sprinkler, Electrical, Plumbing, Envelope/Structure, Elevator Look and feel: Entry conditions, Branding/Signage Opportunities, Finishes, Client Experience, Common areas/corridors Amenities: Parking, Access, Rules & Regulations Services: Full Service, Modified Gross, Triple Net (tax, insurance, common area maintenance) Talk to existing tenants! How well does each space fit your ideal? What trade-offs are required, if any?
Lease Terminology RFP submittal and initial Term Sheets/Proposals Lease Commencement Date vs Rent Commencement Date RSF, USF, Loss Factor Operating Expense and RE Tax base years Right to Sublease Signage TI allowance Tenant Improvement versus Landlord Build Hiring an Architect Filing for Permits Landlord OpEx versus CapEx Due diligence Open Permits Code Compliance
Lease Draft Utilities Annual Escalations Handover Conditions Use & Alterations Subletting Common areas Signage
So now you've signed a lease If you can handle a room full of Pole Dancers, a Contractor is easy…
Finalize your layout Leave room for growth Nice-to-haves versus Gotta-haves Function, function, function Lighting Spacing Mirrors Partitions Adjacencies & Flow Branding, branding, branding
Start your engines Architect & Permits General Contractor Possession Buildout: Heavy trades to Finish trades Rigging MEP work Poles Floors Paint Mirrors
Project managing a buildout Owner supplied, Contractor installed Buy Local, pay Cash Schedule, Schedule, Schedule Written scope and timing commitments Punchlist & Payments
And now you're done? Pre-Worry so that you're prepared When, not If
Maintenance & Operations Building Super & Management Maintenance & Emergencies Building movement over time Pole Maintenance Cleaning & Mats Floor expansion/contraction Track all Issues Landlord Negotiations Lease Renewals & negotiating a Refresh