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6 contributions to Small Bay Industrial Basecamp
3d •
To lease or not to lease...that is the question
This group has been such an asset to me in my venture into the flex development world. Thank you Will and all the other experts willing to share your year's of experience! I am currently in lease up on a small 10k sqft. new construction flex in Florida. I have a national medical group interested in 5k sqft. That type of tenant pays well but is totally different than I had expected. The things give me pause are: 1. Major build out (TI) 2. difficulty (expensive)to demo if they leave 3. Parking (have 9 spots per 5k sqft building.) I Could use some of our yard space for parking but just seems like I'm reworking my whole plan. 4. 10 year lease request Is it wise to let the market move you into retail/office if thats what calling and paying the most? Or should I stick with the trades that when they leave you sweep it out and re-lease.
1 like • 10h
@Shital Thakkar good questions - Long term hold - Rent escalation matched my expectations (3-5%) - My assumption is that a national tenant with longer lease would produce lower cap rate at exit. Well without a renewal it might not look to good to a flex buyer staring down the barrel of a huge demo to get back to typical flex. Ive got some things to think about.
1 like • 10h
@Will Skillman thanks Will, Unfortunately I still don't have a clear picture of who my tenant is. Embarrassing to be this deep and have to say that. The tenant I underwrote is there but I wasn't expecting the higher ends folks to jump in the mix. Thanks again for everyone's input.
Jul 28 •
Cost Segregation
Good day, All: Please share your experience with cost segregation as it relates to any tax or other benefits vs. the cost of it, on your acquisition and or renovation(s). Thank you
0 likes • 13d
@Will Skillman Will I think that would be a great subject for presentation if he is willing.
28d •
Been a long 6 mths. But almost there!
Hi, I thought I give an update on our project in Florida panhandle near Pensacola. 10k of SBF in Phase 1. Paving going in this week. A few stats for consideration. - Road frontage 40k ADV - 12X12 garage doors - Phase 1, 10k in two buildings 5k each - Phase 2, 10k Any constructive criticism gladly accepted. This is my first park, made some mistakes, and had some wins!
1 like • 23d
Will, thats all in but please remember my numbers are lower due to the work we self performed. Growing up farming we had access to some heavy equipment and considerable time in the seat. We self performed clearing, grading and drainage. Actually worked out a deal with a dirt yard to complete our finish grading in exchange for the fill dirt removed. Finish grading takes a very skilled operator, which i am not.
0 likes • 23d
@Aldo Chandra the major expense was not really in the building itself but more the slab. The increased factor required a wind column with a 13x13x4 footer under it. Each steel column required a substantial footer w/rebar and this basically tanked our concrete number. I honestly thing our structural engineer overbuilt the foundations because he was not familiar with the location. But he came packaged with PEMB supplier so it was difficult to communicate directly with the engineer. Lessons learned: 1. Engage your structural directly so that he works for you. 2. Learn about not only wind loads but design factors...they matter alot. I hope that answers your questions.
28d •
Curious…How many people watch the call recordings?
The call recordings take time to prepare. Not many people are watching them, so I am considering cutting them. For example, last week’s video only has 20 views. Who is actually watching the calls and are they helpful?
1 like • 28d
I watch them
Jul 23 •
Septic with Flex?
I've heard mixed opinions on this, but have other developers had success building flex on septic systems? My concern is that it would limit users. However, many of the sites with sewer in my market (Raleigh) have too high of a land basis to pencil. Would love to hear any real-world input. Thanks!
0 likes • Aug 15
We are actually developing with septic this week in Florida. Due to lack of infrastructure and acreage our septic engineer spec'd a system call Presby. We have 2 systems handling 1200 gal per day each. This is for 10k sf. The system uses far less space than traditional septic. Ive never used this type system so I'll keep everyone posted on how it performs. The systems aren't cheap...about $12k each. But for us that cost penciled bc it allowed us to gain building sf in exchange for smaller drainfield. Here are a few pic from yesterday
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@harvey-daniels-2485
Building my first small bay industrial park in the Florida panhandle.
Active 2h ago
Joined Aug 11, 2026
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