10–25% property value increase is typical for well-executed commercial tenant improvements. Updated mechanical, electrical, lighting, and accessibility upgrades directly improve lease rates and tenant retention while increasing building valuation (BOMA Canada, 2023; Appraisal Institute of Canada).
Tenant improvement (TI) allowances in Kelowna typically range from $25–$55/sq ft for office and $35–$75/sq ft for retail/hospitality, depending on asset class, building condition, and lease terms. We work with landlords, tenants, and brokers to align scope with allowance and maximize every dollar.
Kelowna commercial lease rates averaged $18–$28/sq ft gross for Class B/C office space and $22–$45/sq ft for prime retail in 2024, reflecting the city's position as one of Canada's fastest-growing mid-sized markets (CBRE Canada Market Report, Q4 2024; Colliers Kelowna Office Market Snapshot, 2024).
3–12 week project timeline for commercial renovations, driven by scope: simple refreshes (paint, flooring, lighting) run 3–6 weeks; full buildouts with permits, MEP coordination, and millwork can extend to 8–12+ weeks. We provide phased scheduling and after-hours options to minimize business disruption.