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Updated almost 8 years ago,
Phoenix warehouse/office ideas for upcoming opportunity
Hello Everyone,
First post!
I manage a commercial construction company in the Phoenix area and the lease to our office/warehouse is going to be up in the spring of 2019. The building we are currently in will not suite our needs anymore and we are looking to move. By 2019 we will need about 20ksf of warehouse space and about 20 individual offices.
Here's where it gets interesting, Our corporate office does not want to own any of their buildings they operate out of throughout the country. However, they do not mind if I or a LLC I'm involved with personally happen to own the building that my company would be leasing from starting in 2019 as long as I have backup that the rent is a fair market value. The company is willing to sign 5yr leases with a budget of roughly $20k/month.
Any creative ways to approach this? I would be open to looking at new build options, buy existing, ect. Maybe build/purchase a 40-60ksf building and lease out the remainder?
I'm still in complete research and budgeting mode so feel free to be brutally honest with feedback. I'm working with new build budgets with my background but would need help with the financing and management of the building.
Any help would be great, thank you.