Commercial real estate development can be an overwhelming undertaking, especially if you’re inexperienced in the building process. Make sure to have a set budget and schedule. This will set the expectations of your development team.
A rough budget calculates the projected financial return that the proposed commercial real estate development is likely to create. It begins with land acquisition and then moves into the planning, design and approval stage where the developer will engage the services of surveyors, engineers, architects, etc., who will submit budgets and timeframes for the project that include documentation that will need to be submitted to local planning authorities.
If you’re looking for a developer to help you manage all the details from start to finish, Blue Ridge Realty is the expert when dealing with commercial property development. We’ve developed more than a million square feet of buildings for some of East Tennessee’s biggest companies. Call us today at 865-470-4868 to learn more!