I am a newbie to this site so I hope this post is okay. For the past 1.5 years I have been working with commercial real estate brokers to help me find a location for a start up daycare center in Denver , CO and we have come close but things have fallen through for one reason or another (zoning over cite, not enough outdoor sq footage, etc). From a landlord or developers perspective, would it be more beneficial to directly contact local developers to find a location and cut out the middle man? How would we find local developers - we know a couple but they do not have anything available at the moment?
While I am a start up I have two business partners, a very well developed business plan, funding from a bank as well as personal investments for a commercial rental. All of the business partners have experience in the field and Denver is in serious need of child care centers. We are ready to go aside from a location. If anyone can give any insight into this it would be very much appreciated.
Aimee, can you clarify how you think contacting a developer will help you? Are you thinking of building your own structure rather than leasing one?
I am not sure if contacting a developer directly will help or not (that is my question) - with our tenant broker we have not been able to get anywhere with a real estate developer and I am wondering if a developer would rather work directly with an owner vs going through a middle man and having to pay them. For example there are two or three properties within our target area that are being completely redeveloped and I would like to see if they are interested in my concept. Our broker has said the developers are not getting back to him. With that said a business with a similar concept just went into our target area and we missed the opportunity - the building was never even brought to our attention by our broker. I think the owners of the business went straight to the owner of the building (a local developer).
I am not looking to purchase or build at this time - just least 5 years with a 5 year extension. We have funding to do all the TI.
@Aimee Dioxn - Just sent you a PM. Typically you need to get in at the planning stage for a development. Once you see the property coming out of the ground most of the leases are in place and the foot prints set. The banks don't like to fund projects unless they are at least partially pre-leased. With your exterior space requirements, you would definitely have to get in at the ground level. Most unleased space in a development would be a box designed for retail (no outside space).
Thanks for the feedback!
I am looking for property in the Aurora-Denver area to start a daycare center. PM and lets talk.
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