“Grey box” and “white box” are terms commonly used in the commercial real estate industry to describe the condition of office spaces, particularly when they are being leased or sold. Here’s a brief explanation of each:
- Grey Box Office:
- A “grey box” office space typically refers to a space that has basic construction and infrastructure in place but lacks finishes and amenities.
- This type of space may have bare concrete floors, exposed ceilings, and unfinished walls.
- Grey box spaces are often considered as a blank canvas that tenants can customize and fit out according to their specific needs and preferences.
- Tenants leasing a grey box space are responsible for completing the fit-out, including installing flooring, lighting, partitions, and any other desired finishes or amenities.
- White Box Office:
- A “white box” office space, on the other hand, typically refers to a space that has been finished to a basic level, often with neutral or white finishes.
- This type of space may have finished walls, ceilings, and flooring, as well as basic electrical, HVAC, and lighting systems in place.
- White box spaces may also include amenities such as restrooms, kitchenettes, and other basic fixtures.
- While white box spaces are more finished than grey box spaces, they still provide tenants with the flexibility to customize and personalize the space to suit their specific requirements.
The main difference between grey box and white box offices lies in the level of finish and customization they offer to tenants. Grey box spaces are essentially bare shells that require extensive fit-out work, while white box spaces are more finished and may require less customization before they are ready for occupancy.