What
are you building on these sites?
We
build individual office buildings in a professional park setting. The
buildings range from 2,000 square feet to over 5,000 square feet. The
building exteriors have a similar look but the interior is custom-designed
to the owner’s specifications.
We are also available to discuss opportunities over the phone or in-person at the site or in our office. Please call to schedule an appointment, request marketing information or get a copy of the standard contract.
What
are your general contract terms?
We
typically start with an executed contract and a $5,000 refundable deposit.
You will have 30-45 days to secure your financing and meet with our architecture
and design staff. At the end of the specified time period, a 2nd deposit
in the amount of $15,000 is. By this time financing should be secured
and both deposits become non-refundable. A closing date will be specified
in the contract and is typically 30 days from the date the 2nd deposit
is due.
When
will my building(s) be ready?
The
start of development for each individual park is determined by the date
we get the site development permits. Please contact us with questions
related to park development. Site development generally takes 2 to 3
months. Our contract allows 7 months for building construction.
What
are the common area charges?
Common
area charges are initially set at $1.50 per square foot per year. The
Board of Directors of the Association will approve a budget and revise
the charges, if necessary, after taking over the operation of the park.
The
common area is managed by an Association set up for that purpose. Each
building owner is a member of the Association. The Association elects
a Board of Directors to make decisions and manage the common areas. The
Board may also choose to hire a property management company.
The
only other expenses that you will incur are general expenses of property
ownership, including electricity, insurance, property taxes, Community
Development District (CDDs) (if applicable), etc.
What
other projects have you done?
Mr.
Howell has been actively involved in real estate development in this
area since 1980. Please visit our Projects link to view projects we are
currently working on and we will be glad to forward you a copy of Mr.
Howell’s resume listing the principal projects he has developed
over the last 25 years.
Do
you have recommended lenders for the project?
We
always maintain a list of banks and others ready to lend on buildings
in our parks. There are many lenders to choose from and we can help you
find the lender best suited to your needs.
Can
you provide design / architectural help?
We
provide architectural and design assistance at no additional cost. We
have numerous floor plans to get you started in the design process. For
our investor customers, we have floor plan options specifically designed
for your needs that you can use or modify as you desire.
Your
1st deposit of $5,000 is refundable at any time for any reason up until
the time the 2nd deposit is due. Of course, if we have incurred costs
in connection with your proposed purchase (architectural and/or design
work), those costs will be deducted prior to your refund. By the time
your second deposit is due you should have financing secured and be moving
towards closing. Both deposits become nonrefundable at this time.
As
an investor, how much rent can I expect?
Rental
rates vary from property-to-property and depend upon many factors, including
how much rental space is otherwise available in the surrounding marketplace.
With that in mind, rental rates generally quoted for this type of property
range from $ 17.00 to $ 23.00 per square foot per year, triple net. Triple
net means that the tenant is responsible for the expenses of the building
in addition to paying the rent.
We
do not handle rentals for our owners. However, we have excellent relationships
with real estate brokers and agents who do provide rental assistance.
They can answer your questions with regard to rentals and are available
to meet with you at your convenience.
We
do have lease space available. Please call for more information on our
lease opportunities.
