Construction

BUILD-TO-SUIT

A build-to-suit is the terminology where a developer is undertaking the development process on behalf of the tenant or client. The ultimate turn-key facility will either be purchased or leased from the developer. There are many varieties of build-to-suits to meet the client's needs.

The specialized nature of a building design should also be balanced with general purpose flexibility for releasing in the future.

The investor and lender look for that long-term flexibility. General purpose buildings are preferred and will be easier to finance, sell, or sale-leaseback.

The preferred way to conduct the process is to have the tenant select a site through a site selection process and then have the broker act as an intermediary to funnel development proposals through. That way the tenant can choose the best site and best development proposal as two separate functions.

The alternative is simply to request proposals from developers and land owners and allow the developer to control the land from the beginning.

We'll provide proforma analysis for sites and building alternatives. We'll coordinate proposals and the final selection and development process from "entitlement to start-up" by and between the tenant-client and developers. Generally, we'll provide the technical backdrop to discern the best selection for the tenant.

Review "Work Letter" or tenant improvement standards and alternatives. Help define and ascertain tenant's requirements to meet tenant's current and long-term business plan.

We have provided services in arranging build-to-suits, have managed projects on behalf of clients and acted as intermediary and analyst for multiple offers from developers. We have developed business parks and over 20 office-industrial buildings for our own account; hence, we bring construction and development expertise to the table as well.