Reviewing a Flex Industrial Development Project (Office Hours)

Key Takeaways:

Alec is developing a 10,000 square foot flex industrial building near an airport in Spotsylvania, Virginia

It's important to do market research and comps to understand achievable rental rates in the area

Construction costs can vary significantly depending on location, but Alec has estimated a cost of around $112 per square foot for this project

Due diligence like geotechnical surveys and understanding local permitting/fees is critical for development projects

Creative financing strategies like seller financing and walking debt can help fund development costs