Small office and light industrial buildings are typically under 10,000 square feet. Unlike small office buildings, light industrial buildings are small buildings that include a dock or roll-up door. Not only do these spaces feature an office, but they also include a warehouse component. This type of space is ideal for small professional practices such as doctors, dentists, attorneys, accountants, engineers, or financial advisors. Distribution and construction businesses that need half or more of their space as open warehouses can also be a perfect fit for this type of building. If you know that your company will likely need the same amount of space for an extended period of time, owning may just be right for you.
How Do Architects And Builders Work Together?
The architect begins the design with a vision, while the contractor supplies the architect with essential information about the building site or structure needing to be remodeled. Both parties must understand the logistical concerns as well as the goals of the property. The builder will meet with the building owner for a needs analysis to determine specific usage and style to create an elevation and prepare a phase document. The document determines the early cost budget so that the owner can make an early and educated decision about their investment.
Is The Project Feasible?
The business owner will pay for Phase 1. A lot of preliminary work is done to advance the speed of the project. The benefit is the owner does not have to pay for a complete design. If Phase 1 is over budget, owners will have solid budget/information earlier to determine if the project is feasible. If investors agree that the commercial building is a suitable investment for their business, they can move forward. In that case, the next important thing is to plan on executing the project in the best possible way. The project then moves forward to Phase II which is the design phase.
Completing The Full Design Document
Designing a commercial building differs from designing a residence. When you design a residence, your only goal is to make the homeowners happy. Commercial design requires much more forethought and has many factors to consider. Designers, along with the estimators completing final estimating, will secure a minimum of two to three bidders for each trade. From here, the owner gets a guaranteed price and completion date. This leads to Phase III.
Phase III Is Construction
The construction stage is where the actual building of commercial property happens. This is the stage of transferring the project from paper to physical reality. Construction is usually preceded by a crucial meeting where site access, material storage, quality control, and work hours are determined. With the right designers and builders, an owner of a light commercial or light industrial building gets earlier pricing information, a guaranteed price, and an advocate to complete their building with the most value.
Light Industrial Property Loans
Securing the best possible light industrial property loan involves more than a trip to your friendly neighborhood banker. As with all commercial lending situations, presenting your industrial property in the best possible light, and understanding the nuances of the many financing programs available can make a huge difference in the quality of the loan offers you ultimately receive. Light Industrial is characterized by a small-size facility where no heavy manufacturing or specialized industrial process takes place. Office space within light industrial ranges from 3% to 25% of the total area. Buildings must include sufficient plumbing and lighting to accommodate personnel. Light commercial or light industrial buildings are the same candidate for SBA (small business Loans) 504 loans. Under this program, the loan requirements are around 10% down by the business owner, around 40% for low interest, a fixed loan for 20 years duration by the SBA’s Certified Development Company (CDC), and then about 50% from an approved financial institution. You must be in business for 2 years and have a worth of around $15 million.
You want a professional commercial builder who can give you estimates, and the timing of your project. They need to share transparency and provide you with a quality structure.
Complete Structural Partners (CSP) provides commercial and residential contracting, renovation, and remodeling services to the Greater Cincinnati/Northern Kentucky area. We specialize in retail, office, healthcare, warehouse, and manufacturing construction projects. CSP provides quality craftsmanship that is completed on time and under budget. Our Interior Design Division provides decorating, staging, and space planning services as well as construction services for small remodeling projects.
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