Tenant-Improvement Costs Are Skyrocketing

Hoffmann: “The hurdle is going to be getting the new levels of rents. which in B locations is a challenge, to get higher rents, even with amenities.”

SAN DIEGO—Title 24 upgrades are causing bottom-line costs to increase even before improvements are made to office space, Kidder Mathews SVP John Hoffmann tells Globest.com. Hoffmann recently joined the firm’s San Diego office, where he will specialize in office, medical and R&D sales and leasing. A veteran broker with more than 25 years’ experience in the San Diego commercial real estate industry, Hoffmann has successfully negotiated more than 1,500 leases and sold more than 30 properties totaling more than 1.4 million square feet. Prior to joining Kidder Mathews, he was with Colliers International. We spoke exclusively with Hoffmann about his new position and the trends he is seeing in his areas of specialization.

GlobeSt.com: What are you looking forward to accomplishing in your new role with Kidder Mathews?