Fast Turnaround Drives Spec Space Demand
While some office spaces may be presented as a blank canvas, others are being built out into speculative, or spec, suites. These suites are created by the landlord in a way that will be appealing to a variety of tenants.
The cost to develop these spaces comes out of the landlord’s pocket, but property owners agree they can have huge upsides.
Bob Tarnofsky, an executive vice president at El Segundo-based Continental Development Corp., said the company is a big believer in spec suites. He said the company created suites as the South Bay market moved away from just aerospace users to a greater variety of tenants.
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