I have been going back-and-forth on a 96,000 SF development. I did my due diligence, but the market data that I could find was sparse at best. So I delayed...and delayed. I just couldn't get comfortable and my lender was asking questions that I just didn't have data to support. Finally I engaged Wayne Bares and Cody Payne at Small Bay Feasibility to build a feasibility study that would give me the data that I needed to feel confident with the project. The Feasibility study they provided is very comprehensive. It supported many of my assumptions, and provided a list of conditions that I need to address to improve the chance of success. My lender loved it and I now have real data, provided by an industry leader, to support my investor pitch deck (not just assumptions). I have always been a value-add investor and have that process down. Now I have the resources and confidence to jump into developing a larger small bay complex. If you are experiencing the same challenges finding real data in your market to support your small bay development, reach out to Wayne and Cody. It is worth the conversation. wS

Looking to build out ~75k sqft of flex warehouse / small bay in chapel hill. Any recommendations for optimizing the capital stack? Specifically finding and vetting joint venture, GC, LP and construction lending partners

Quick background: I run Greenpark Compounding Pharmacy, a 34-year-old business I took over from my dad and a small real estate portfolio on the side (multifamily and mid-term rental in Houston and Beaumont). This summer I bought 3.25 acres, all cash, at a county road corner in Waller County NW of Houston to build small bay contractor flex. 1,500 SF bays, 16' clear, drive-in door and restroom in each, NNN leases to HVAC, plumbing, electrical and landscape guys who are running out of their driveways right now. I'm underwriting against the operating small bay parks around Houston and the asking rents on the corridor. Where I am is early. Waiting on a 911 address from the county. No engineer or architect yet and no official site plan. What I have is my own test fit and model built off the county rulebooks. There's no zoning out there but fire code, TCEQ well and septic rules and the groundwater district still decide what fits. It points to roughly 24 bays, about 36,000 SF, and a project that pencils if vertical comes in where I think it does. Plan from here is a real feasibility study, then the entitlement process, then go to investors and lenders with a package that has already cleared the county. What I'm looking for, in order: 1. Feasibility. Who has done a small bay flex study for you in the Houston area that was worth the money, and what did it cover. 2. Civil engineer and architect referrals with small bay experience in an unincorporated county (Waller, Montgomery, Fort Bend). Someone who already knows the fire water, well as public water system, and septic capacity problems. 3. Down the road, metal building design-build GCs who will quote a 30 to 40K SF program, and lenders who have financed spec small bay in a rural county. What I bring: I come at this as an operator, not a fund. Happy to share the test fit, the site cost line items. If you're working the NW Houston corridors I'd like to compare notes. Plenty of room out there."