Buy, build or lease?

[James Stayton]

Hi there, I have a quick question. 

I am doing a feasibility study on a small business that will sublet small offices to small companies and professional services. Is it best to build or retrofit? Obviously, there is a huge price difference but in looking at the long-term my payments only pay down someone else's investment. It has been suggested to me that I retro a local building and after 5 years of profit, I can look int a build. Can anyone shed some experience on this?

Thanks, - James