|1. It’s overpriced and therefore, almost impossible to have your credit approved.||Maintaining great credit is not just a smart business practice, but will also pay off and make more economic sense in the long run.|
|2. This type of development calls for a long-term commitment that most businesses don’t want.||When the company is ready to plan for its long-term needs, it could benefit greatly from a highly customized build in which the developer could hold the burden of risk instead.|
|3. The project timeline could take many years of uncontrollable delays and the main decision-maker won’t be the owner anymore.||Contrary to any misunderstandings, owners still maintain control over the development and if you’re able to allot the time and patience, the reward is a fully customized new space, tailored specifically to your vision and growth plan.|
|4. Build to suits are not for everyone and not for every time during a company’s life cycle.||What may not seem like the right time, may just be a lack of the right resources and perspective of the big picture, so be sure to research plenty of items on the topic of build to suits.|
As mentioned, what may seem to be the pitfalls associated with build to suit opportunities may not even be detrimental to your business. Also, remember that a development company can greatly help facilitate between the landlord and tenant to construct a successful build to suit that hits all the requirements the first time around. There are many advantages of hiring a developer, including the fact that they will acquire, take ownership, and manage all the risks of the property’s construction.