If you can find the right 2nd generation space that matches well with your businesses construction needs, you can save BIG money.
Finish out of a first generation space can be easier since you are building on a blank canvas, but you are also starting from nothing. First generation spaces allow you to select where you place walls, power and phone outlets, and duct work, but all these items require work and cost money.
Their can be efficiency in repurposing a previously occupied commercial space, otherwise known as a second generation space. Good examples for this would be restaurants or hair salons. Most times these tenant build outs can be limited to tailoring a very specific need, like finishing out a front reception area or installing doors on open areas, while utilizing the pre-existing walls and duct work with minimal work.
When the previous occupant had a similar operation and you can utilize a large portion of the existing construction, this is what is known as a “Quick Turnaround” space. This allows for minimal permitting and build out time which helps keep costs down.
However, sometimes there aren’t any similar previous use spaces in your area and you have no choice but to take a pre-existing space for a completely new use. Don’t worry, there is still money to be saved. The biggest savings would be maintaining the existing electrical service (i.e. where the main breaker panel is), the existing plumbing if at all possible, and minimizing changes to the HVAC. Those three trades alone could save you up to $100,000.
