Commercial/Retail Pre-Leasing Process

[James Faulk]

Hello - we own a 3.5 acre site that we are currently trying to develop. We've already negotiated a ground lease with a tenant for 1 acre of the land subject to DD/feasibility/permits etc which is expected to take 9 months to a year. 

We are trying to get the other 2.5 acres developed, either build to suit or ground lease. What I'd like to know is to see if anyone has any experience pre-leasing a site. What I don't want to have happen is to start planning and go through the permit process only to have a tenant/tenants change the entire plans and have to replan and reapply for permits.

With that in mind, I'd like to see if anyone has any experience/expertise in the pre-leasing process for retail tenants. Do you reach out to them with just the site/address or do you need permits in place for good/national tenants to take your site seriously.

Would appreciate any input.

Thanks!