Guidance on developing Flex Space

[Fahim Ali]

Hey everyone!

I wanted to see if anybody can provide some guidance in developing flex space and their general thoughts on Flex. I am beginning to talk to brokers and noticing a lot of gaps in my knowledge regarding this asset class. I have listed some general questions I have below. Additionally, I would love to possibly get on a call to have a more in depth discussion. 

1. About what size land is required to build 6 units of 3500sqft each

2. How long does the building process take for steel builds?

3. What are the process steps in building from scratch? What is the order of these steps?

4. What specific operating costs should the owner underwrite if all NNN leases?

5. What are line item big costs that should be accounted for when building? 

6. What can I do before purchasing land to determine if flex can be built on that property?

Appreciate everyone's help in advance.