Corporate Site Selection - Key Considerations: Office Space Construction / Renovation

The costs to construct / renovate and furnish office space are key components in your company's overall cost of space, particularly under current economic conditions.

During the past few years, the costs of labor and materials have increased sharply while the lack of availability of each has become a significant problem. In addition, municipal permitting periods have doubled and even tripled in many areas. All of this at a time when corporate operations are less tolerant of delays and cost overruns.

There are, however, several steps that you can take to mitigate these issues including screening and choosing vendors such as landlords, contractors, architects and movers carefully. (A good tenant representative will help you locate and qualify these service providers). Also, be aware that unionized labor generally costs + 25% more than non-union labor. Lastly, understand "rule-of-thumb" costs for general construction / relocation items. The following should prove helpful:

ITEM	DESCRIPTION	UNIT	COST
General Conditions	Supervision, Clean-up, Permit costs, etc.	sq ft	$1.00 - $1.50
Demolition	Required for alterations	sq ft	$1.00 - $2.00
Partitions	Demising partition Interior partition: One lineal foot, ceiling high per 12 sf of office space leased. Includes vinyl base and building standard products.	In. ft. In. ft.	$38.00 $32.00
Doors, Frames & Hardware	Entrance door unit 3' x 7' solid core oak veneer, steel frame, mortise hardware, installed. Interior door unit 3' x 7' solid paint graded steel frame; lever-style cylindrical hardware, installed.	each each	$625.00 $350.00
Ceilings	Acoustical tile ceiling 2' x 2' fine line grid with regular ceiling tile	sq ft	$1.60
Flooring	Carpet - Commercial grade - 28oz. Face weight	sq ft	$1.60
Electrical	Ceiling fixtures - one 2' x 4' parabolic fixture per 80 sf of space leased. Switches - one per 250 sf of space leased. Duplex receptacles - one per 250 sf of space leased. Telephone receptacles - one per 250 sf of space leased.	each each each each	$150.00 $65.00 $68.00 $50.00
Contractor's Fee	Assumes 8%		8%
Wall Covering	Vinyl (installation) Fabric (installation) Acoustic wall panels (installation)	sq ft sq ft sq ft	$2.50 $4.00 $10.00
Plumbing	Sink (includes rough-in) Drinking fountain	each each	$1,500.00 $1,500.00
Telephone	One time system purchase	sq ft	$1.00 - $6.00
Cabling		sq ft	$1.00
Moving		sq ft	$1.00
Architectual Design Fees	Above building standard, not usually provided by the landlord.	sq ft	$2.00 - $5.00
Millwork	Wood base, wall cabinets PL counter Shelving - closet, storage, etc.	In. ft. In. ft.	$250.00 $130.00

The day-to-day responsibilities of your core business are demanding enough. A qualified project management team acts as an extension of your internal team and can help you realize significant savings and operating efficiencies through their expertise and past experience. The tenant representation team at The Acclaim Group provides a full complement of national tenant project management and space disposition services. We provide a proven methodology that is thorough, meticulous and extremely versatile in scope. To learn more about the Acclaim advantage please call us at (908) 653-0880 and ask to speak to one of the principals of our firm - Michael Maroon or Todd Smith.

back to Resources main page