The General Services Administration (GSA) is a federally funded and ran real estate organization that leases spaces such as labs, offices, clinics, and warehouses for federal agencies all over the country. When pursuing and obtaining a GSA lease, there are several operational requirements that must be met in order to be compliant with the GSA, which is why working with a company that understands GSA lease requirements is imperative.
One aspect of GSA lease requirements is GSA Tenant Improvements (or GSA TI). GSA TI include all finishes and fixtures that are added to the shell of a space that bring it up to a usable condition. Some of the areas that require improvements include:
When signing a GSA lease and making GSA TI, you, as the lessor, are financially responsible for all tenant improvements but will be reimbursed for all of your expenditures, plus interest, by the government.
At Urban Investment Research Corporation (URIC), we understand the complexities of GSA Leases and GSA Tenant Improvements and work with our clients on three main pillars of GSA TI: TI funding, TI negotiations, and TI project management.
TI funding must come from a source that allows for a full buildout, but can’t be used for personal property, only for structural improvements, and should be managed by a company that is well versed in TI funding requirements and overs a wide breadth of financial planning services.
Negotiating TI funding, planning, and reimbursement needs to be handled by a company that is fully aware of all the GSA TI requirements and can represent you and your best interest in when it comes to planning, which also includes excellent project management.
TI Project Management
Managing the projects that go into GSA tenant improvements can be a big job; at URIC we expertly handle and track all projects and project data so you don’t have to.
As you work your way through your GSA tenant improvements, make sure you’re working with a company that understands you and your needs and the GSA rules and regulations. Contact UIRC today for assistance with your GSA TI!