Idea for Industrial Building

[Jeremy Tillotson]

I have been thinking about an idea for a while and want to input. As a former contractor I have alot of friends who have small shops. Many of these guys have a garage or several garages to store stuff. Most garages are not tall enough to allow a van with a ladder rack. In order to get into a shop one usually has to rent larger spaces. I have been toying with an idea to have 4-6 1,200-2,000 sq foot shops, with a shared conference room and office area. It could even have a person in the office to help them(would cost extra), so I am trying to combine the idea of sharing office space trend while giving each tenant a secure shop area that is no larger than they need, and therefore better on there cash flow. My intital response in talking to people is for a 2,000 shop I could get 1200 month that's almost double per sq foot than the larger spaces, and makes it some the small shop can manage there expenses in the less busy times they encounter. Wondering if this has been done elsewhere or what your thoughts are?

[Jeremy Tillotson]

@Micki M. I know from the contractors I know and talk too that there is a market for this, I just wanted to reach out to see what the thoughts were on BP. Correct on premium per sq ft which is why I started to look into this. We have shared office space, and some people split larger shops, but there is a trust issue with lots of tools out in the open.I think its a solid idea. I further have thought about making the shop a storage lease (if my attorney allows it) if they dont pay all there tools go to auction, and more importantly locking them out I think you would get fast rent money. Thanks for your input.