Commercial Real Estate Development (FL) discusses key considerations for a developer of commercial real estate (CRE) in Florida. For purposes of this note, CRE development refers to retail, office, medical, industrial, hospitality, multifamily residential, and other types of commercial properties. Development means new construction or renovation of existing structures.
This note is written from the perspective of the developer. The development concepts discussed throughout this note also apply to residential development such as multi-lot single-family homes and condominium developments because they are large-scale developments involving the same types of approvals.
Real estate development is a lengthy process that begins long before a particular site is selected. CRE developers spend significant time identifying the ideal property for each project they develop. When a developer decides that it wants to be in a particular area, it will obtain market studies to determine the best city and the best area of the city to be in. Once the site is selected, the hard work begins.
To read this deep dive into the initial planning process, what happens once the contract is signed, and what to expect when the property is actually acquired, please click here. Topics include:
- Site Selection and Preliminary Due Diligence
- Price for Land
- Purchase Contract Provisions & Contingencies
- Property Due Diligence Requirements
- Approvals (Obtaining & Timing)
- Operation of the Project
- Leasing and Sale Documents
- Financing
- Construction & Development Contracts
- Permitting
- Construction Liens
- Certificates of Occupancy
For over 25 years, David Blattner has focused his practice on complex real estate transactions with a particular emphasis on the acquisition, financing, and development of large-scale shopping centers, office buildings and executive parks, marinas, warehouse, flex projects, hotels, single-family and multi-family residential developments and condominiums. He represents a wide range of clients throughout Florida, the U.S., Canada, South America and Asia. To learn more about David, please click here.