© Copyright 2012-2016 - Blake Properties, LLC. All Rights Reserved.
470 Atlantic Avenue | Floor 4 | Boston, MA 02210
There is a myriad of developers in Commercial Real Estate. Their objectives vary based on the overall (long-term/short-term) strategy of the firm. There are 3 traditional types of developers that Blake Commercial predominantly works with. What usually differentiates these developers is the structure of their equity program or tenant relationships. Here are some examples of these types of developers and what we do for them:
1. Portfolio-Development: These developers acquire property and redevelop with the intention of a long-term hold. Examples: REIT’s, Funds, Private Investors.
2. Single-Tenant NNN Lease Development: These are developers acquire land and build a single-tenant prototype store and sell the final product to institutional investors for a profit upon completion of construction and store opening.
3. Preferred-Fee Development: These developers are usually paid a fee by a national retail tenant to facilitate the entire process of new store development. Once the project is complete, the tenant is the property owner and the developer will have no equity interest in the property.
Most developers seek out new opportunities with a specific tenant in mind. (Be it a large scale big-box retailer, or a small fast-food restaurant) We take that specific tenant’s current roster of locations, site criteria and then cross reference that information with their competitor's locations and target demographic to pinpoint new growth markets. Taking all of these factors into account, we then identify all parcels of land within that market that meet size, zoning, access and visibility requirements. From there we actively pursue all possible options for acquisition on the developer’s behalf.
Regardless of how the developer’s equity or end-game is structured, Blake Commercial’s culmination of site selection, acquisition and leasing services makes us a specialized go-to partner in both finding new opportunities and transforming them into long-term, high-yield income generating assets.