Questions to ask before choosing a spec building for your new facility — and why you could end up paying more for less.
Designing and building a new processing facility is an investment — one that takes time to perfect. Food and beverage manufacturers searching for cost-effective and time-saving alternatives to greenfield projects may come across listings for speculative (“spec”) buildings. These buildings include the nuts and bolts necessary for a future tenant to move into a space quickly — but there are trade-offs to consider.
Developers construct spec buildings without a specific intention in mind for the design. As a result, they often need to be customized to meet a facility’s operational needs and upgraded to meet industry safety codes. Depending on what changes and adjustments are needed, choosing a spec building could actually be more expensive in the long run.
Are you confident a spec building is the most cost-effective choice for your new facility?
Stellar’s team of experts created a list of questions you should ask a developer before signing on a spec building. Submit this form to download our checklist.
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