Commercial development is the ground-up construction of income-producing commercial property: office, retail, industrial, healthcare, hospitality, and increasingly specialized assets such as data centers.
Log in to followI do renovations. Someone told me the natural next step from gut jobs is a small ground-up commercial shell, a 6,000 square foot retail building on a pad, because it's the simples…
Small three tenant shell on an outparcel next to a grocery-anchored center, secondary market. Total project cost came in at $1.9M. I've wired a lot of these for other people and t…
Working through an industrial build to see whether it's even the same sport as the small multifamily I know. Land is $1.2M for about 4.5 acres. Hard cost pencils at $145/sf on 60,…
Trying to build a real predevelopment budget for a small commercial site and I keep guessing at the line items. I know I need a survey and a geotech report and civil drawings. I d…
I don't like development risk. I read this room for a year mostly to understand why I didn't want to be in it. Then a sponsor I'd been introduced to twice offered me something I c…
Land is 3.1 acres, entitled for a 34,000 sf light industrial shell on the edge of a distribution corridor in a mid-size metro. I control it at $780k with closing tied to loan clos…
A broker sent me a pad site listing, 0.9 acres in front of a grocery anchor, asking $410k, zoned for retail. His email said "ideal for an owner-user or small developer." Every art…
The parcel is 44 acres, agricultural zoning, two miles from a substation with visible capacity headroom and a rail spur on the far boundary. I've held it eight years at a basis th…
Trying to decide whether the office uptick people are pointing at is something a service business should build around, and the answer depends entirely on what's driving it. The fo…
Rural county, population under 20,000, and the development authority has an abatement package and a tenant prospect that wants 80,000 square feet on a rail spur that runs past my…
A landowner client asked me last month what it would cost to find out whether her 60 acres could get 40 megawatts, and I didn't have a price because I've never sold that. I spent…
Third inquiry this quarter came from a general contractor prequalifying subs for hyperscale work about 90 minutes out. Big scopes, long schedules, prequalification requirements I'…
We've held 46 acres for nine years, row crop lease, taxes paid, no plans. It sits about a mile from a transmission line and there's a substation on the far side of the county road…
Lender told me they can't issue a term sheet on a small retail box we're looking at until there's a Phase I in the file. Someone in another forum said those are about $2,000. The…
42,000 sf medical office building, all in at roughly $16.8M, so about $400/sf including a $85/sf TI allowance for the anchor. Construction loan quoted at 62 percent LTC, SOFR plus…
Every LP position I hold today is an operating asset with a rent roll I can read line by line. Ground-up is the part I keep circling and not committing to, and I'd like to hear wh…
This was my second LP position ever and my first development deal. A 22,000 sf medical office building on a suburban outparcel, total project around $9.4M. The sponsor had done fo…
The listing calls a 3 acre parcel "fully entitled for 30,000 sf of flex." I called the planning department to ask a basic question about setbacks and the person told me there's no…
Two offering memos for roughly the same thing crossed my desk this month, a mid-sized industrial shell in a secondary market, and they put construction risk in completely differen…