Office Park construction costs?
I am looking at a lot that is .80 of an acre in a good location and was wanting to build a single story office park where tenants could have their office space/retail space. Not sure on the exact sq ft of each unit right now, but was thinking about 750 sq ft a piece. I got to looking at construction estimates online and I’m getting averages of $110+ per sq ft. Is that accurate for nowadays for a metal building? I know there are a variety of factors but I’m just looking to build a single story metal building.
[{"id": "fnwyy1s", "text": "Doesn\u2019t sound like this is something you do. Typically, if your serious about this, you spend some money on a conceptual design from an architect (who confirms code requirements), you talk to an engineer and then you send that info off to a couple GCs to get price per pound numbers. You could call a GC directly and ask but I don\u2019t know what your asking and they won\u2019t either.", "replies": [{"id": "fnx122u", "text": "Thank you", "replies": [{"id": "fnxtdit", "text": "Dont forget site prep costs.  .8 isnt a lot of land but it doesnt mean it will be cheaper, it may mean you are going to have crazy hardscape and retention costs.\n\nGoogle build to suit commercial developers in your area.  They are the people who put this all together and can share some price ranges for your area.  They can work with your broker to provide site assessment on land prior to you offering.\n\nThere is a lot that goes into this .", "replies": [], "depth": 3}], "depth": 2}, {"id": "fnx1m43", "text": "I would add, I don\u2019t know of any metal office/retail buildings, at least in my market. Metal construction would mean you\u2019re looking more for industrial tenants. And they would want warehouse space, probably bigger than 750 SF. If I were looking for space as an office/retail tenant, I would at least want masonry construction.", "replies": [{"id": "fnx252q", "text": "Totally agree but I was trying to give him the tools to have him come to that conclusion on his own", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fnzmemv", "text": "The office market is about to get smashed.  I think it\u2019s a big mistake to build any sort of office space right now unless you\u2019re building a mixed use building in a CBD.", "replies": [], "depth": 1}, {"id": "fnzpg4b", "text": "Do you need financing for this project?\n\nDespite the market, we're still doing deals. \n\nI work in commercial lending, PM me.", "replies": [], "depth": 1}]