Considering building to suit your needs? While it is certainly a popular choice for many, it may not be for every company.
Of course, Build-to-Suit for lease does have many advantages, including the fact that you’ll be getting the exact environment you want to suit your business’s needs. The building will be constructed to your exact design and specifications, not to mention it will be built at a location you’ve chosen. For many, the fact that they can choose their location and have superior space efficiency is crucial as it allows the company to better build its brand.
Building-to-Suit for lease is a process that requires a long-term commitment. First, land must be located and a design finalized – all before the foundation of the building is poured. It’s also important to remember that since the developer is erecting a customized building, the lease term is generally at least 10 years, which spreads the risk over a longer period of time.
So, is Build-to-Suit for lease right for you? Following is a list of advantages:
- Choosing your own location.
- Because the building is constructed to your specifications, it has the exact amount of office space, production and warehousing, as well as the right flow of access between departments.
- Because your company’s image and character is reflected in your building, build-to-suit better displays your brand in the design, colors and finishes you choose.
- New buildings feature the latest in contemporary systems, such as electrical, plumbing, lighting and HVAC.
- With new systems comes cost-saving energy efficiencies as the latest technology equals more money saved and less wasted electricity and water.
- That new building allure. There are no missing ceiling tiles, no musty odor, no worries about painting walls or replacing carpet.
- Preserves your capital so that you can focus on other items such as equipment.
The disadvantages of Build-to-Suit for lease, which we’ve already touched on, include the fact that it’s a long-term commitment and it also requires top-notch credit so that financing can be obtained. It may be more expensive than simply leasing space, although companies could save money through reduced operating costs and efficiency.
In today’s highly competitive industrial development market, it’s important to have choices if you’re going to get exactly what you want. Build-to-Suit for lease, which can be used for both new construction and additions to existing buildings, may be a viable tool to help you do that.
Many times, it is difficult to find existing space in your community to meet a client’s needs so if you’re interested in Build-to-Suit for lease, give us a call so we can get started on constructing your ideal building.