if you're not an experienced Builder, have one company put in the foundation (place erosion controls, dig, pour footings, call for inspection, pour/block walls, set anchors, wait 28 days), do rough backfill 3. have framer frame the house.The Builder (called a Developer in some areas but not my area) does all 3 steps, or you'd do them if you're the Builder. 

When you dive into it, there are a lot of nuances.First, there are subsections of retail: single tenant NNN, small unanchored neighborhood, grocery anchored, shadow anchored, power centers, regional malls, lifestyle centers, etc.Then you get into tenant mix and market specifics. 

In retail, you will have co-tenancy and anchor clauses.  

As I said these "number of days" can change and float as needed but in my world its not only reasonable but common and customary for TT's to have free rent during buildout.for reference we are traditionally doing $500K - $800K build-outs in grocery anchored retail centers. 

Seller is anchoring at ~$25 K less than the GIS. 

Construct two anchors - a sports & entertainment complex and a performing arts center 2.

It takes much longer to do, but this is preferred when anchoring bathroom vanities to a wetwall.

Hard assets with (extreme) volatility will take out mom & pop; not just via barrier to entry but also by temptation to sell.I have done the following, and I think a few folks have copied me in certain areas and that's you buy the land and offer to re-sell with the condition you anchor the build(3rd party it to a real builder, in my case) for a rent to own or just resell.

Anchor strips?

Or what about the syndicator who did purchase the multi-family building in your narrow investment thesis  and did bet wrong on rates but a major employer just announced significant relocation to the municipality where the apartment building is located or a restrictive zoning overlay was just enacted making it difficult to add new density or maybe its the new commercial development just anounced that is anchored by a wholefoods and exciting nightlife exeriences a block away.