Mixed Use Commercial Development?

Question

I'm looking for a place to put some of my (potential) money into and have been thinking about building an office for my company.

Are there any special things I should look out for concerning building a mixed-use office type building (I'd like maybe a 4 story, with retail shops on the first floor).

I'm trying to think of anything that i haven't covered , I feel pretty competent concerning traffic volume/Location , land costs , zoning , vacancy rates ,ect. I've delt with residential much more than commercial , so this would be a new thing. The hope is to be able to have a building in which I can use for my own office space, and have tenants to help cover my costs.

Any advice would be appreciated.

Todd Hart · Answer

Also, I forgot to mention. Check with a local commercial real estate broker to provide you with insight and a referral to a construction management consultant who can provide you with additional info on plans, entitlements, engineering, construction costs, etc.

Todd Hart · Answer

Since this would be for your company you may qualify for our SBA program.  Email me more details and i will take a look.

Will Barnard · Answer

Brandon,
Note that building new in commercial is much more costly than to purchase existing due to the current market conditions and buying existing will only get better over the next two years.

You may want to look into banks that have taken back mixed use properties or motivated sellers and pick up a great deal, then stabalize the units.

Corey Williams · Answer

"Mixed-Use" was definitely the buzz word before the economy went into the crapper.  One of the bigger organizations that is promoting mixed-use is the International Council of Shopping Centers (icsc.org).  I would start there for some general information and from there you may want to check out some local office/retail buildings and find out who owns and/or manages them.  They would be a great resource for local rents, tenants, and overall management of the building.