Warehouse Development- Value Add

[Cole Bigbee]

Hello BP world- 

Just wanted to briefly discuss things to keep in mind when developing or purchasing a warehouse. When looking to purchase an existing building, always look to see how easily the structure can be divided to accomdate multiple tenants without a lot of crossover from one business to the other. There's a lot of value that can be added to a project if you are able to take one large building and divide it up. 

When developing a building, if you have a large warehouse that you would like to rent to one tenant, that is great but keep in mind that if things change your building needs to be an easy conversion to accomdate multiple tenants. The below pic is my latest project. It is a 25,000sqft building that is setup to be split if 2 tenants need to be accommodated. We were fortunate enough to lease the whole building to one tenant but if something happens to that tenant and we need to split it up, we can do it in a short amount of time.

I hope this post is a help to those looking to purchase or develop warehouse space.

CB