The base building delivered without interior fit-out — structure, exterior, MEP risers, lobby.
Construction · US
The base building delivered without interior fit-out">fit-out — structure, exterior, MEP risers, lobby.
A landlord delivers core-and-shell; the tenant builds the interior. The opposite extreme is a fully-fitted suite. Most US Class A is delivered core-and-shell with a TI allowance to fund tenant interior construction. UK markets typically deliver Cat A (see Cat A).
Core and shell is part of the construction vocabulary that institutional Class A occupiers, landlords, and advisers use across US markets. Understanding it correctly affects how you read lease documents, model occupancy economics, and benchmark deal terms across cities. Class A Atlas tracks the US definition alongside the global standard so cross-border occupiers can translate quickly.