Warm Shell Lease - Extent of Improvements?
For all my office developers/investors/brokers: I'm a bit confused by the extent of work done for a "warm shell" building. I've done office construction, but only core and shell or full fit-out (never separate TI work), and on the development side I only have multifamily experience.
So I understand that a cold shell building is just a bare floor, no ceiling, walls, flooring, etc. with just the stubs of the MEP coming out of the core (this is the work I've done in construction), but I don't understand how you can deliver a warm shell, with some of the TI work already done. How can you lay out any HVAC, electrical lines, studs, etc. before you know the tenants floor plans?
To sum, what exactly does a warm shell consist of?
Hi jarstar1, check out these links:
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If those topics were completely useless, don't blame me, blame my programmers...
OK since I didn't get any responses here I did some digging and had a good conversation with a GC about this. Unsurprisingly, my understanding of what a cold shell is was off. A cold shell is just the superstructure, facade, and elevators, with enough MEP to service it, that's it. A warm shell is adding the rest of the MEP backbone (HVAC equipment, electrical bus, sprinkler loops, plumbing/mechanical risers, etc.) and can have different degrees of "warmth", so to speak, such as if the core bathrooms are installed or not, extent of MEP installation, etc.
Anyway, I put this here just in case anyone else stumbles on this and is just as curious as I was.
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