Retail suite improvements in a premium retail center
Champlin, MN - Stanley & Wencl was engaged to perform two tenant build outs in existing spaces in a premium retail center located in Champlin, Minnesota. The two commercial suites are located in a fast growing community. The work is a full ground-up renovation.
Commercial tenant improvements (TI), also known as commercial leasehold improvements or build-outs, are customized changes or repairs a landlord or tenant makes to their property as part of the lease agreement. This is most common in commercial real estate because property changes are needed to fit specific business needs. In exchange, the landlord will either pay for the changes directly, reimburse the tenant for the changes, or offer reduced rent for the tenant.
The specific business needs for each tenant improvement include:
Hometown Veterinary Parters - 4186 square feet of state-of-the-art animal hospital with multiple bays for patient treatment, offices and a light surgical suite will support local vetertinarians and their furry patients. This animal medical practice will be spacious and comfortable and include a wall of fame - pictures of patients!
Just Love Coffee Cafe - A newer franchise from Knoxville, Tennessee, this store represents the first Just Love Coffee Cafe franchise in Minnesota. Serving breakfast (try the famous waffles!), lunch, and coffee the concept was born of supporting families through the adoption process. The new space will be 1900 square feet incuding electronic menu boards, a new service window, and interior seating for 58 patrons.
In commercial real estate, tenant improvements are common, especially in the office, retail, and medical industries. Ensure you know the types of improvement agreements, the pros and cons of each, and how to negotiate the best deal that will help your business and the landlord-tenant relationship to be successful.
Contact Stanley & Wencl today if you are considering a project. We are your design-build leader!
Contractor: Stanley & Wencl LLC
Size: 1,900 SF and 4,186 SF