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  • Writer's pictureRaphael Collazo

What is a Warm Shell?

A warm shell in real estate refers to a partially finished commercial or retail space that has been built out with basic infrastructure, such as walls, floors, and ceilings, but does not have any interior finishes or fixtures. A warm shell is typically a blank canvas that is ready for a tenant to customize and fit out to their specific needs and specifications.

Warm shells are often found in new construction projects, where developers build out the basic infrastructure of a commercial or retail space and then lease it to tenants who will finish the space to their own specifications. This can be an attractive option for tenants who want to design and customize their space to meet their specific needs and branding, rather than leasing a space that has already been finished and designed by the landlord or developer.

It's important for tenants to carefully consider the terms of a lease for a warm shell space, as they may be responsible for completing the finish work and any required inspections or certifications. In addition, it's important to carefully budget for the cost of completing the finish work and ensure that it is feasible within the tenant's financial means.

I've worked with many tenants to help them identify, negotiate and secure a commercial space that best aligns with the needs of their business. If you're a business owner in Louisville, KY or its surrounding areas, I'd be happy to help you find the perfect space for you and your business! Feel free to call/text me at (502) 536-7315 or email me at

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