For discussion: I have land on a state highway on the edge of a small town near Austin. At one point a few years ago the town decided to annex the corridor extending about 450’ and 5 miles out along the route. There was a group of owners that rejected it so that section is now developed but not much else. My property is close to town and has 370 ‘ of frontage. It is a deep tract so I have 4.4 acres in the city but another 13 in the county and the ETJ. Obviously the hurdles to development are much different between the two. It’s all R-1 at the moment but they view it as potential commercial. I have applied to rezone the front to C-3. The county part has no zoning restrictions. I was advised by a developer that I should try to be dis annexed from the ETJ in case the city ever decides to start enforcing restrictions. On the city portion: when I pressed the city about sewer and water they said they were unable to extend it to there due to the railroad between us. Others have confirmed that the railroad here is powerful and hard to deal with. I have a well and septic and it is probably less costly and faster to enhance that than tie in anyway. My research shows that I have grounds for dis annexation and I think it will save me a lot of time and money if I can get it done. I found an attorney that does it. Any thoughts or comments. Sorry this so long winded but wanted to present the whole scenario. I’m sure someone here has dealt with this before.

Has anyone had any experience with bank lending requirements wanting to see a certain percentage preleased prior to closing on the construction loan? And as an expansion to that - can people share their preleasing experience with Small Bay? Is that feasible, or is this asset class a "build it first then lease" type of asset? And if so - how do you reconcile banks wanting to see preleases?

For ground up new construction, interested in hearing what everyone is doing from a power perspective? We have used both single and 3 phase, typically with 200 amp service. It does add cost to bring in 3 phase and I am not sure the juice is worth the squeeze (pun intended). Anyone have any thoughts on this?

I'm trying to get smarter on replacement cost for small bay industrial — specifically concrete, sub-10K SF units, in infill, established MSAs. Every conversation seems to produce a different number and I'm curious whether anyone out there is actually making institutional-quality product pencil at today's construction costs in supply-constrained infill locations — and if so, how. If you have a development budget you're comfortable sharing (even anonymized), I'd genuinely love to see how the sources & uses stack up and try and understand the underwriting. Trying to build a better framework for evaluating replacement cost vs. acquisition pricing.

I know there’s a lot of limitations with cold form (span restrictions, load limits) compared to red iron, but has anyone used it? We are developing in DFW so snow isn’t that much of an issue and we are targeting smaller unit sizes anyway. In all likelihood I wouldn’t go this route, but wanted to get other opinions.