What Exactly Is Build to Suit in Oklahoma?
Build to suit in OKC is an agreement between a developer and business owner. In this agreement, the developer becomes the landlord and creates a building for the business that the tenant then agrees to rent. Together, they will choose the location, establish terms and conditions, and work on the design. Build to suit in Oklahoma is exciting, but what do you get with a build to suit arrangement?
What Comes With Build to Suit in OKC?
When renters ask about what build to suit includes, they typically want to know about the design process. While each developer will have their own method of working with clients, most have a few things in common.
The design is a collaborative process that takes into consideration the architecture, structure, and construction of the project. Typically, a few meetings will establish what the renter wants precisely by setting objectives and criteria, such as space, colors, textures, etc. Once the details are ironed out, the developer will take over the day-to-day construction.
Build to suit takes longer than renting an established space. Still, the result is a space created to the specifications of the occupant. The building should be worth the time that it takes, so make sure that you have all of your expectations clearly established before construction begins. It will cost extra to start changing the layout when it is halfway finished, so get everything you want from the start.
Theoretically, you can have anything that you want in a build to suit, but remember that the lease will reflect the cost. A lease in this situation is already longer than your standard lease. The more expensive or custom a project is, the longer the lease will be. While it will save you money upfront, you will be locked in the lease for quite some time. Make sure you have what you need, but there is no reason to go overboard.
When you are looking into a build to suit, make sure that you choose a developer that best suits your needs. You will want someone experienced who has projects that match your personal views about construction and aesthetics. For example, do you want to work with a company that has experience in energy efficiency or modern layouts?
In some cases, a build to suit agreement can have an option for the renter to purchase after the lease comes to an end. If you are interested in buying property, this could be the path for you.
Of course, this does not include everything about build to suit. If this does sound like the way you would like to enter into commercial real estate, please contact the team at Horizon Commercial Realtors with any questions you may have. We would be happy to help you with the perfect space for your business.