More About Commercial Real Estate Development in El Paso, TX
Real estate development is a lucrative business for many. This is especially true of commercial developments for retail space, office buildings, industrial property, and more. In a nutshell, it requires you to be able to take a written idea for a commercial property and turn it into something tangible. The end result is delivering a practical and safely developed property on par with the quality of other commercial buildings and commercial spaces in the area.
Whether you’re developing a property for your own business or building space for lease or any other commercial property for sale, it’s important to know the ins and outs of the commercial real estate development process.
What Goes Into Commercial Real Estate Development?
It takes an extensive team to develop commercial real estate. The team must consist of:
● Site planners
● Civil engineers
● Landscape architects
● General contractors
● Environmental consultants
These are just a few of the professionals needed for this type of undertaking. The various stages of the process require the input of many professionals.
The three stages of the process of developing commercial real estate are site selection/deal-making, due diligence/research, and site investigation reports. When it comes to selecting a site and making deals, extensive research and analysis are needed. This is so that it can be determined if a particular site is ideal for its intended use.
There are certain requirements a site must meet in order to be used commercially. For example, the size and visibility of a property must be taken into consideration. Zoning restrictions and the surrounding infrastructure must be analyzed in order to make a decision about a particular site.
When it comes to due diligence and research, legal requirements are taken into consideration. This is the time where it is necessary to determine property development requirements for a particular type in the El Paso commercial real estate market. An extensive amount of information must be reviewed and questions must be answered in order to move on to the final step in the process.
After data has been gathered and questions have been answered, site investigation reports can be completed. These reports list any issues that needed to be addressed in order to finalize a commercial real estate development project. Many requirements must be met at this stage in the process.
Site investigation involves addressing any setbacks in the areas of parking, landscaping, and the building itself. In addition, permits must be acquired and fire department requirements must be met.
What Is Raw Land Development?
The act of purchasing property for commercial use is referred to as raw land development. It is a long-term investment made for business purposes. This type of development involves preparing a piece of commercial land to hold a building. Oftentimes, this means performing tasks such as excavating, draining, filling, dredging, grading, and even paving. These tasks enhance a property so that it can be safely used for long periods of time.
If you’re considering commercial real estate development for your business in the El Paso area or to build commercial properties for sale, contact our team at Acala Investments. With over 25 years of experience in the industry, we can provide the level of detail and service to build a foundation for your commercial property’s success.