All Forum Posts by: Cole Bigbee

Light industrial space (under 100K sqft) is my main area of focus. I grew up around metal buildings an have an unfair competitive advantage. My main area of focus as of now is north Alabama. 

FYI for those following this posts that invest in the same kind of space. Steel prices and material lead times are currently at an all time high! Most reputable manufacturers can not deliver you a building until 2022 if you ordered it this month. The numbers for new construction and the current lease rates for spec space are no longer making sense. After the end of this year, I would be real surprised to see a lot of new spec space coming online until these material prices cool down some.

@Oshea Jephson

You can clear span a building up to 200'. I would not recommend that though due to the costs. Usually a good rule of thumb is anything over 100', needs an interior column. Let me know if you need anything else.

@Victor Steffen While  LoopNet and CityFeet are always a good place to start, I feel it's best to get with a local agent that only specializes in this type of space. For a 10,000 sqft building that could be split up, your tenant base will be more localized and for smaller businesses vs a 50,000 sqft building that would most likely go to a regional or national tenant. If you drive around in a local industrial park, there will probably be one or two agents with signs up on multiple buildings, start with those guys/girls to see. Also, a local industrial developer can give you some good insight on who they use and how they market in their area.

Hope this helps.

@Christine Zharova

I'm happy to help in any way I can!

I can't answer specifically for Austin but I know there is metal building guys all over central Texas. The type of space you are looking at is very desirable across the country. I don't think you would have any issue leasing it up. Danny is right in that materials are expensive right now but if the numbers work with the land you are looking at, go for it!

@Roman Rytov

Industrial buildings in the southeast is the only class I invest in.

Is it a pre-engineered metal building or block and bar joist type structure?

@Christine Zharova  

My portfolio consist only of industrial buildings. From a structure standpoint, the building height, number of dock doors, offices, clear span or interior column setup, power, roof type and age all play a very important factor when looking to attract a tenant or continue to properly serve an existing tenant.

What size is the warehouse? Do you have any pictures?

@Steven Bates 

FYI- Metal building lead times for most reputable manufacturers is 20+ weeks right now, so as soon as you know the exact size you can get on the lot, you need to get the building ordered. Also, you don't need to hire a company to help you evaluate and solicit bids for a metal building. All you need is the length, width, eave height, pitch. If you have some exterior elevations already drawn you can pass them on, along with insulation requirements. That will be enough to get a bid and get contracted. For reputable manufacturers, check out MBMA. They have plenty of information on metal buildings, along with a lists of their member manufacturers. These manufacturers go through two independent audits a year by MBMA for their engineering and manufacturing practices. 

@Logan Hartle I think you should get one started. Looks like there is a ton of interest and I only see that growing. Let me know if I can help in any way.

@Henry Clark

I'd stay away from the common bathroom. Stick 1 in each bay or for the time being, you can just rough-in the plumbing until you get a tenant. In the whole scheme of this project, the restroom will be least of the costs.

CB