All Forum Posts by: Brent Thomas

Let me start this off with a bit of my background.  I own 5 sfr in San Antonio and rent them out with a property manager handling all details.  I am currently in the corporate world-tech sales and wanting to accelerate this business but taking a different and more complex route.  

I have my eyes set on a plot of land near my home where there is high income and significant traffic in a rapidly growing area in Cedar Park, Texas (north of Austin).  My objective is to buy about an acre of land, that is already leveled, access is being done, and utilities are going to be 5 feet from the property; and then build 3-4 shell retail spots on my plot, owner occupy one of them with a business and lease out the others.

I am meeting with a developer this weekend, but have some wrong numbers regarding the average cost of building a shell space.  I have meetings with my lawyer to discuss partnership contract and acct for the financial piece.

Since this is extremely new, I am building a team of a contractor, broker, loan officer, accountant, Lawyer and investors.  I have been interview these folks and almost down to the right folks.

What I am seeking from the community is experience from those that have done this and have been successful but also those that have pitfalls to learn from those to either not make the same mistake, or do what works.  I am happy to provide any and all detail and more so...if you are in the austin/cedar park Texas area and are looking to partner and you have experience in this area...I am all ears.

Thank you in advance to all that replied!

We represent several developers in Cedar Park, they all developed for owner user + rentals, but I'd say the main thing from a legal perspective is ensuring good GC and sub agreements. Conditional and unconditional lien waivers prior to getting paid.

Happy to chat more

You're also going to need survey and engineering work to get the permits done for putting in the utilities to the buildings, flatwork and other improvement requirements around the buildings. This is typically parking, detention pond and landscaping. I do most of this part in my day job. 

You'll need a building permit, and that will require either an architect or you to work with the shell building designer. This part, I don't know so much about.

if you need more info, feel free to reach out.

@Brent Thomas are you working with a commercial real estate broker? That's where I would start. A good commercial broker will already know that segment of the market, potential areas to consider and avoid, can pull you any report needed for traffic flow, densities, distances to major employers, ports, logistics scores, etc. Your broker will also be able to pull vacancy reports and heat maps showing where the greatest flex space needs are at throughout the Houston market, not just available land that is zoned properly. You don't want to invest in an area that is already saturated with the same product type you want to build. If you don't have a good commercial contact in the Houston area, reach out and I can connect with someone.

BP Family, 

We have a piece of land that we are looking to develop and we would love to hear your thoughts on the office warehouse/Flex Space as a development/asset, current demands, and future demands.... Thanks in advance. 
 

I have experience on the civil side of development and permitting.  I have worked on several strip centers and warehouse/industrial type projects in Texas.  I can assist in answering any questions you may have regarding the development of a site around the building.  

I work on civil only though, so wouldnt be able to answer any questions about architecturally about a building like that. 

If you have more specific questions around civil I could give you a better answer. 

@Abdul Siddiqui

@Abdul Siddiqui

Hey Guys,

I am a local investor with a few SFH's in Houston. Currently, I am looking to see about acquiring commercial land and building a warehouse or FLEX space. I wanted to see if anyone has done something similar in the Houston or surrounding area. Was thinking of buying 1 acre - 5 acre commercial tract in Katy or Richmond area and then develop 1350-1800 Sq/ft FLEX spaces. To be honest am unsure where to start after buying raw commercial land. Has anyone  done a flex space build that can guide. Would love to hear feedback from other members, builders and commercial brokers.
Than

@Cole Bigbee

Thx for the reply. 
I’m curious. Have you ever done the brick veneer panels on pemb?