Build to Suit is a term much used in the construction community, but what does it mean? Basically, build-to-suit (BTS, just like the band) is a property term used to describe a scenario in which a building owner, or a developer, provides a building that is already built or even refurbished to a tenant’s specification. The owner finances the project and is responsible for most of it.
There are many details to this important term that can be a bit hard to catch the first time you see it, but it’s quite easy to understand. Keep reading to learn more about it and see build-to-suit construction in Calgary, Canada.
As said before, build to suit construction is a term used to describe a commercial building specifically built to meet both the physical and design specifications of a particular user.
The tenant can hire a commercial developer to manage and take the ownership of the construction project, or they can acquire the land and assume the liability of financing. Of course, they would still hire a general contractor to plan and construct the building.
Since the building is designed specifically for the tenant, it is typically leased for a predetermined period.
There are many benefits of a BTS. For example, a BTS project usually is more cost-effective and less risky than other types of development. The result of the construction project can be fairly constant since the tenant has a standard, so it is easier to know what to expect. The developer or owner has no leasing risk since the tenant is identified.
What people like the most in BTS, besides their great songs, is that the project is designed exactly for a specific tenant. It’ll come very similarly to how the tenant intended it. This offers more efficiency and reduces long-term costs; it also makes the available space more efficient.
A tenant can use a commercial developer to help them design the building as they like it. The biggest reason to use a developer is to protect the tenant from the negative sides of handling their development.
As you can imagine, such a project is very big and complex, with many details and responsibilities to take care of. The developer will carry the financial burden of it, saving the tenant time and resources and helping them get a facility that will allow them to meet their full potential.
Although there are many great commercial construction companies in Calgary, one of the best is Astra Construction Management, a business with several years of experience. With great commercial building renovation contractors, Astra offers lots of services, including the help with BTS.
Astra Construction Management is an award-winning service with two Top Choice Awards and is a 3-year Consumer Choice Award in Southern Alberta. Go to their website and check their service right now!
