The industrial construction process

As we now know, flex space is a far easier asset class to enter than others in real estate, and considerably less strenuous to maintain. We’ve talked about what to look for when deciding where to build your development, and what it takes to build flex space. Today, let’s get into the industrial construction process itself.

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There are several stages in the real estate construction process.

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1. Pre-construction planning:

During this stage, the team will conduct feasibility studies, site analysis, and identify any potential challenges that may arise during the construction process. They will also create a detailed budget, timeline, and obtain and necessary permits and approvals.

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2. Design and development:

Here, the team will work with architects, engineers, and other design professionals to create a detailed layout of the building, the materials that will be used, as well as the systems and components that will be included.

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3. Procurement:

In this phase, the team will source and purchase all of the materials and equipment needed for the project. This may involve negotiating contracts with suppliers, contractors, and subcontractors.

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4. Construction:

Here’s where the actual building of the structure will take place. This begins with excavation, followed by pouring the foundation, building the structure itself, then installing the systems and components. Typically, this stage is the longest and most complex of the construction process.

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5. Punch list and closeout:

During this stage, the construction team will complete any remaining final tasks, such as installing fixtures and appliances, and will perform a thorough inspection of the building to ensure that it meets all specifications and standards.

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6. Occupancy:

Once the construction process is complete, the building will be ready for occupancy. This may involve finalizing contracts with tenants, obtaining certificates for occupancy, and making any necessary preparations for the building to be used.

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It’s important to note that the industrial construction process can vary depending on the specific project and the local regulations and requirements. Flex space, in particular, is decidedly simpler to build than an apartment building.

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It is absolutely essential to work with experienced professionals who have a thorough understanding of the process and can help ensure that the construction project runs smoothly, is completed on time and done so within your budget. Failure to do so can lead to significant roadblocks in the process and can add substantial delays and cost to your project.

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This is, among other subjects, a topic I’ll be explaining in further detail over at Flex Space Untapped. I’ve spoken at length about the ins and outs of this process, and welcome any and all questions you may have.

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I want to help make your next project a success. Join me and my team of experts over at FSU and we’ll leave no stone unturned. Habibi, let’s go!

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