188. Reviewing a Flex Industrial Development Project (Office Hours)
The Commercial Real Estate Investor Podcast · The Commercial Real Estate Investor Podcast
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Show Notes
Key Takeaways:
Alec is developing a 10,000 square foot flex industrial building near an airport in Spotsylvania, Virginia
It's important to do market research and comps to understand achievable rental rates in the area
Construction costs can vary significantly depending on location, but Alec has estimated a cost of around $112 per square foot for this project
Due diligence like geotechnical surveys and understanding local permitting/fees is critical for development projects
Creative financing strategies like seller financing and walking debt can help fund development costs