Quality office space is becoming scarce in some market areas, and many businesses are looking into the possibility of a build-to-suit facility. Build-to-suit is defined as a building specifically designed to meet the design, location and physical specifications of one major user or business.
The main thing to keep in mind with build-to-suit is that it should not be looked at as a short-term solution for space. The business must make a long-term financial commitment to the property.
Build-to-suits are usually time-consuming projects, sometimes taking several years to complete a facility or office space. Build-to-suit is still considered more expensive than leasing or purchasing existing vacant space, but there may be savings gained in space efficiency, reduction in operating costs and improved company image that may recover some of the costs.
Finally, the business must be able to predict future expansion needs to ensure the property will meet long-term space and operating needs.
Build-to-suit can offer many advantages for a business. It can create a facility with the space and special needs that a vacant property may not provide. It can help the business or user utilize cost-effective energy systems that may not be available with existing vacant spaces. Also, build-to-suit will enable the business to incorporate design ideas to help promote its company image.
Lastly, future expansion possibilities can be worked into the building plans to meet the company’s long-term needs.
Source: Schafer Development, (440) 934-1119
