WASHINGTON, DC--Brokers, at least in public statements and releases, tend to keep information about TIs close, other than the per forma announcement that they negotiated a generous deal for their client. To be fair, this is often at the client's behest but even at the aggregate level many brokers are loathe to talk about what they are able to secure for their clients.

For that reason, an otherwise routine announcement about a recent deal The Ezra Co., negotiated stood out. The company recently completed an 11-year, 11,608-square foot lease extension for The National Press Club at 529 14th St. NW. The press club itself can be found on the 13th and 14fth floors, but it also occupies the 4th floor, which is used as a television production studio.

This was the space Ezra Group negotiated for, securing a lower rental rate it said, while not providing specifics. Here is where it get's interesting. The company also secured "….a sizable tenant-improvement allowance to buy new equipment, as well as refurbish its existing space," according to a statement by Kyle Martin, who along with Gene Martin and Damon Rothman, represented the National Press Club. (Affiliates of AEW Capital Management and Quadrangle Development acquired the building in 2011. Ezra didn't say who represented the owners).

Secret TI Data?

This is not to say that there isn't any data on TIs available.

JLL recently reported that the average TI package nationwide is approximately $30-$50 per-square-foot in Central Business Districts (CBDs) and that TI costs are decreasing as landlords continue to compete for tenants.

Incidentally, that one bright spot in last week's unemployment report -- the 8,000 jobs added for construction in September? A good portion of that number may well have been due to robust build outs by commercial tenants, according to JLL's reckoning in its August report. It pointed out that construction unemployment has declined 20% year-over-year since June 2014, as construction demand grows, while TIs have grown by 14.2% since Q2 of 2013.

Now here's the kicker: according to JLL, Washington DC's CBD has the highest average TI package of $70 per square foot.

Naturally, the increase in TI packages gives tenants the ability to secure more customized build outs. Such customization might new public areas, more access to technology in meeting and collaboration rooms, and open, mobile workspaces, JLL says. Firms without these new finishes, it noted, may find it more difficult to attract and retain younger talent.

Yes that spells Millennials.

The National Press Club doesn't break out demographics of its members on its website, but a recent development shows that it is not unaware of the need of offering incentives to this demographic.

It has restarted its mentorship program this fall and like a growing number of organizations it is positioning the program as a two-way street, with mentees also sharing insights with mentors. And presumably their latest TV and video tech skills.

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Want to know what another city's TI is averaging? Go to the next page to see JLL's chart. It is taken from the company's Q2 Construction Perspective report.

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