Tuesday, August 16, 2016
Bacall Development and associates can provide a helping hand in designing a build-to-suit property to fulfill the interests of the tenants. The firm is composed of popular investors and developers of retail, office, hotel, and congregate care assets in Southeast Michigan. As a tenant, you will witness various advantages in build-to-suit developments and the Bacall team will enumerate them in the succeeding paragraphs.
During the designing phase of the building, the tenants have the ability to suggest ideas and goals to build-to-suit developments. Since it is built based on the particular needs of the tenants, the development ensures that the interior space will be efficiently used by the tenants.
No more waiting for a space to become available in a build-to-suit property since it allows tenants to select their preferred location. You can also save on operating costs as a tenant because build-to-suit developments often have the most energy efficient construction materials and installed with the latest technology since they are usually newly constructed.
Moreover, other tenants can lease available space on build-to-suit locations. Reservation for future expansions is also possible in this kind of development. The interior and exterior designs of the space are allowed for modification, so it depends on the company if they would like to add their individual brand into it or not since the tenants have the power to customize the property. The rent for build-to-suit properties is fully tax deductible over the full term of the lease.
Since this subject is an important company decision, Bacall associates also needs you to understand the disadvantages of build-to-suit properties. Given that most contracts are at least 10-year lease, build-to-suit properties demand a long-term commitment. This kind of property also requires good credit in order to gain financing because it is a lot more expensive than others. In addition, it takes many years to finish a build-to-suit development.