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COMMERCIAL REAL ESTATE SERVICES
SERVICES > CONSTRUCTION SUPERVISION > TENANT DEVELOPMENT PROGRAM
Leasing Services   Leasing Services   Property Management   Financial Reporting
 

Tenant Development Program
The following are the step-by-step procedures to be used as a guide for the Tenant Development Program.

KEY:
- Broker   - Listing Broker
- Space Planner - Interior Architect/Space Planner
- Contractor - General Contractor
- Morlin Asset Management, LP  
 
  • Authorization for Space Plans and Revisions
    • The broker will obtain a Letter of Intent from the tenant.
    • Morlin Asset Management, LP will give verbal authorization to the space planner to proceed with space plans (or revisions).
    • Completed plans are reviewed and approved by Morlin Asset Management, LP prior to presentation to the tenant.
     
  • Area Calculations
    • Area calculations are done by the space planner and are noted on each space plan.
    • Final area calculations for leases are done by the space planner and sent to the broker for calculation of rental rate.
    • The space planner prepares the lease exhibit showing demised area and sends to broker for inclusion in the lease agreement.
     
  • Pre-Lease Space Plan Approval
    • Tenant verbally approves a space plan to be used as a basis for the lease approval.
     
  • Preliminary Budget
    • When requested by Morlin Asset Management, LP, the contractor will prepare a preliminary budget indicating the owner's (building standard) costs, and the tenant's (above building standard) costs, based on the approved space plan. The contractor will send the budget, including a preliminary construction schedule, to Morlin Asset Management, LP and a copy to the space planner.
    • When requested by Morlin Asset Management, LP, the space planner will discuss above standard improvements with the tenant.
     
  • Schedule
    • Morlin Asset Management, LP and the space planner will prepare a schedule based on the Tenant Work Letter Agreement showing the following dates:
    • Final space plan approval date;
    • Working drawings approval date;
    • Above standard cost approval date;
    • Construction bid dates (specification preparation, RFP, and bid opening);
    • Construction schedule; and
    • Move-in date.
    • The schedule will be reviewed with the contractor prior to submission to the tenant.
    • Morlin Asset Management, LP to send one copy of each schedule to the tenant, broker and contractor.
     
  • Final Space Plan Approval and Working Drawings Authorization
    • Morlin Asset Management, LP and the space planner will obtain tenant's approval of the final space plan.
    • Upon receipt of the approved plan, the space planner to proceed with working drawings, if appropriate.
     
  • Commencement of Engineering
    • The space planner will send partial working drawings to the engineers with information regarding tenant's electrical and mechanical requirements.
     
  • Preparation of Working Drawings
    • The space planner prepares architectural working drawings.
    • The mechanical and electrical engineers prepare their respective working drawings.
     
  • Design Regulations
    • Morlin Asset Management, LP will inform tenant of graphic standards and other design regulations.
     
  • Working Drawings
    • The electrical and mechanical engineers will issue sepia to the space planner.
    • The space planner will reproduce the architectural, electrical and mechanical working drawings, and issue complete sets to:
    • contractor(s) for pricing and/or bid preparation.
    • tenant for approval;
    • Morlin Asset Management, LP for record.
  • Building Permit
    • The contractor will send the required number of sets of construction documents to the appropriate city/county building department for a permit.
    • The contractor notifies Morlin Asset Management, LP when the building permits are secured.
    • The contractor notifies Morlin Asset Management, LP and the space planner of any comments or changes by, or required by, the building department.
  • Cost Estimate
    • Preparation
    • The contractor will prepare and submit to Morlin Asset Management, LP, estimates of the owner's costs and the tenant's costs based on the Tenant Work Letter Agreement.
    • Morlin Asset Management, LP will review the separation of owner and tenant costs and approve, if appropriate.
    • Submittal to Tenant
    • Morlin Asset Management, LP will prepare for tenant's signature a proposal outlining the tenant's cost of the improvements.
    • The space planner will assist Morlin Asset Management, LP in discussing the tenant's cost if required.
  • Authorization to Begin Construction
    • Upon receipt by Morlin Asset Management, LP of the signed/approved cost proposal from the tenant, Morlin Asset Management, LP will authorize the contractor to proceed with the improvements.
  • Change Orders
    • The space planner prepares change orders and sends copies to the contractor for pricing, to the tenant for approval, and to Morlin Asset Management, LP for information.
    • The contractor sends an estimate to Morlin Asset Management, LP and to the space planner.
    • When the price for the change order work has been approved by owner and/or tenant as required, Morlin Asset Management, LP authorizes contractor to proceed with the change.
  • Information Letter/Pre-Occupancy Guide
    • Morlin Asset Management, LP sends the tenant a letter to include the following:
    • Official mailingaddress to include street address, suite number, and zip code.
    • Signage requirements/limitations and request for tenant's specifications for same.
    • Request for tenant's key requirements.
    • Building procedures and regulations regarding move-in.
    • Security information.
  • Completion Schedule
    • The contractor will prepare a completion schedule for the general contractor and outside contractors (such as the phone company and furniture suppliers).
    • The contractor will distribute this schedule to the broker, Morlin Asset Management, LP, space planner, and others with interest in the project.
  • Deficiency Schedule and Substantial Completion
    • The contractor will inform Morlin Asset Management, LP and the space planner when the project is substantially complete and ready for a deficiency schedule ("punch list").
    • The contractor will present a partial release of lien at each draw request and a complete release of lien upon final payment.
    • The space planner will prepare a punch list and send a copy to Morlin Asset Management, LP with a copy to the contractor for correction.
    • The space planner will prepare a Notice of Substantial Completion attesting that the improvements are substantially complete. The space planner will send copies of this notice to Morlin Asset Management, LP and the tenant (as per the lease agreement).
  • Occupancy
    • The contractor will obtain an Occupancy Permit and send a copy to Morlin Asset Management, LP.
  • Construction Completion Approval
    • The contractor will inform the space planner and Morlin Asset Management, LP that the deficient work is complete.
    • The space planner will inspect the project and sign the deficiency schedule as complete (if appropriate) and inform Morlin Asset Management, LP. The space planner's sign-off on the deficiency schedule is the basis for final payment to the contractor.
  • "As-Built" Drawings
    • The space planner prepares "as-built" architectural drawings.
    • The mechanical and electrical engineers will prepare "as built" drawings.
    • The space planner, mechanical, and electrical engineers will send their respective drawings to Morlin Asset Management, LP.
     
    It is understood by all concerned, when following these procedures, time is of the essence.
     

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