Today, businesses have very specific needs for their office space. Evolving technology may require special space for housing servers. The growing number of medical offices have unique equipment needs. And, many businesses simply want to design a space that embodies their brand.
Build to suit lease projects allow businesses to customize their office space for a much less upfront price than buying and owning the building. In a build to suit lease agreement, the company partners with a commercial real estate broker or developer to choose a location, design a space and build a custom facility. Then, the business leases the property from the developer.
Avoiding the upfront capital expenditure is not the only advantage of build to suit leases. They also allow businesses to maximize the efficiency of their space by designing the space specifically to meet their individual business goals. Companies can tailor workspace to enhance productivity and streamline workflow. Also, because these are new construction projects, developers can integrate the most cost-effective energy systems and green building best practices to improve overall efficiency and reduce operating costs for owners.
When deciding between leasing commercial real estate or a build to lease contracts, it’s important to remember that this is a more long term solution and often more expensive than a traditional lease. The process is more involved because it may take years to pick a place, come to an agreement, solidify financing and complete the project. However, if your business can incorporate a vision for the future and long term growth, then a build to suit lease may be the most strategic option.
Talk to the Intelica experts about finding the perfect place for your company’s next move. We’ll help you decide if a build to suit lease if a smart option for your long term success.