Six considerations for spec suites in an evolving office market
Answering a call for speed and value from office tenants, the marketplace is making the shift from tenant allowances to speculative or “spec” suites. In the past, landlords offering a tenant allowance gave the tenant more control over their finished space. But the need to engage an architect, hire a general contractor, plan the layout, and purchase furniture greatly extended the amount of time needed for the tenant to complete the space. And frequently, projects were delivered late and over budget.