Any one doing or have done ground lease NNN development?
I have brokered a bunch of NNN with improvements and several ground lease deals and even a leasehold Fed Ex. Just worked on the development of an Arby's remodel to suit as well.
Want to move in direction of ground lease development and looking for tips or to network.
Search back in the commercial forums I believe it's Jay Hill but I could be mistaken wrote a project on here step by step for a dollar store and an outparcel for NNN.
Thanks Joel Owens I saw that and going to reach out to Jay tomorrow.
Are you looking at developing in Carbondale? I would think developing in the mountains of Colorado would be time consuming but lucrative in that getting permits must be difficult, but tenants will pay higher than average rents.
I have heard from another commercial developer in Colorado that entitlements took 21 months to get.
So long process from what I have heard.
California is the same way. If you want to do a large scale res development, it can take 3 years. The flip side is, that because it is harder, you can make more money.
Use by right deals are fairly easy 3-6 months. Issue is CDOT on ingress/egress. Larger full PD or zone changes are hard in the mtns and face a lot of opposition. There is one here in Carbondale that has been denied 3 maybe 4 times over ten years by both city council and public ballot. Do a google search for Crystal River marketplace Carbondale. The Glenwood paper has some good history on it.