With so many choices for rental spaces, especially in the Washington, DC metro area, each one has their advantages and disadvantages. The two main choices are between a “Build-Out” and a “Built-Out” practice space. The former refers to a space that is a newly constructed shell without an interior, allowing you to design most aspects to your liking. The latter is an already finished space where almost all interior work is complete, but only gives you the option of remodeling if there are major design elements that don’t suite your practice- it’s already been “built out”.
Build-Out Space
If you are leasing a space in a brand new office development, chances are you are getting the “shell” of your new space. Leaving items such as wall extents and locations of mechanical fixtures open to change so you can create the office space of your dreams.
Advantages
Creative freedom
Good investment for a long-term practice
You can create the office of your dreams and start from scratch
Disadvantages
Most expensive option
Specialized architects and interior designer are needed
Landlord may not approve of all design choices
Built-Out Space
Built-out spaces are much more prevalent in the market and are by far the more popular choice for any healthcare professional’s first practice.
Advantages
Lower cost
Remodeling can be undertaken with the help of architects, interior designers, and construction firms
Process is often faster, enabling the practice to open its doors sooner
Disadvantages
Less creative freedom
More overall restrictions
Landlord’s remodeling allowance (“Tenant Improvement”) won’t cover all costs
A “Build-Out” office is the dream of every medical professional, or any business owner really, but they are often hard to find and often significantly more pricey than spaces that already have been built out and just need finishing. With the right architect and construction partner on your side, however, you can make the most out of either type of commercial space to adjust the design to fit your business’ needs. Make sure to also seek out a real estate brokerage firm with strong experience in assisting clients in the same business as yours; for example we recommend HPRG for any of our healthcare clients. These companies are more equipped to ensure you receive a “market deal” with respect to monthly rent, rent-free months to build the space, tenant improvement dollars and other germane issues. Giving Liberty Group Construction a call today will be the first step to turning your dream space into a reality!