Property Management
In NJ, commercial lease negotiations for a storefront in an older NJ downtown may involve 'grey shell' delivery, which means the tenant receives the space:
AFully built out and ready to open
BWith basic mechanical (HVAC), electrical, and plumbing stubbed in but no interior finishes, requiring the tenant to complete their own buildout✓ Correct
CAs bare concrete and steel only
DAs a furnished turnkey space
Explanation
A grey shell delivery provides the space with rough structural, mechanical, electrical, and plumbing systems roughed in, but without interior finishes. The tenant then customizes the space for their specific business needs.
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