All Forum Posts by: Derek Bell

Thank you guys for the feedback. I decided to sell the two buildings and keep the remaining 11 acres. It just makes the most sense. 

If anyone knows of someone who may be interested in an off market deal, please let me know. I would rather not have to list this property. 

I have a dilemma. I have a 14 acre property. I bought it a few years ago. Two buildings came along with the sale. The buildings take up about 3 acres, leaving me about 11 acres. I am building 2 additional buildings on the spare land. Currently have a note on everything with a killer 2.8% rate. Loan will balloon in about 3 years. If I get a construction loan to build my two buildings the old note will have to be paid off leaving me with a higher rate. I have a few scenarios I see:

1) just chalk it up to the cost of doing business

2) there are three parcels. Both current buildings are parceled off with the third parcel being the remaining land. Sell just the buildings and keep the land. I have added so much to the annual NOI that I could probably sell the buildings at a good price so that I get the land for almost nothing.

Any further thoughts or suggestions would be appreciated. 

@Bart Tilly I have not done any projects using tilt up. I have only used pemb with my builds with traditional metal panels. I have heard tilt up is starting to trickle down to the smaller warehouses. 

I’m in the flex commercial/industrial space. The cost per sf for your build looks about right. Looks like you got a deal on the land at 500k. Only thing I would caution you on is checking to make sure you have the correct and necessary utilities on site. Also make sure you check fire suppression requirements on min square feet per buildout. The biggest thing I see is the ratio to land to build size. With only 1.8 acres, thats not much to build a 30k sf warehouse. Really just no way to do that size of warehouse with only 1.8 acres. 

@Cole Bigbee

Yes, just like a nichiha panel. If you would be willing, would you please dm me a contact or two of someone that is familiar with PEMB and nichiha panels. Also, may be contacting you for our PEMB needs as my last supplier messed up a few things on my last order. 

@Cole Bigbee

Thx for the reply. 
I’m curious. Have you ever done the brick veneer panels on pemb? 

@Douglas Gratz

What’s the latest on your project? 

I develop and also act as my own GC. Was going to post this to the “contracting” forum, but most of those posts were residential GC. 
I am building two buildings one @ 7500sf and one @ 10500sf right next to each other. All my builds in the past have been PEMB. All metal panels, etc etc. Typical warehouse PEMB. 

The particular city I am building in has required me to do 3 sided brick full elevation. I am thinking of doing my regular PEMB and adding a brick veneer, but not sure. I think the brick veneer might cheapen the look. I could do a PEMB structure with metal studs all the way to the roof deck and then do a traditional brick lay. Or maybe CMU’s?

Not really sure. I am wondering if anyone else on here has any input. 

Can’t tell you how important it is to have your subs go ahead and purchase items as son as you get a permit if you are building. I have my electrical and hvac guys buy everything as soon as possible once i get my grading permit.