Built to Suit is an innovative way of leasing commercial property, in which the developer or landlord builds to a tenant’s exact specification. The developer finances the project and is responsible for its design, construction and completion. The developer retains ownership once the building(s) are leased to the tenant.
Benefits for the tenant/occupier are:
- The tenant occupies a building constructed to his exact specifications;
- Usually the tenant is a single occupier and enjoys the luxury of a design that suits to his corporate concept and/or management vision;
- The tenant does not have to invest substantial capital for ownership of real estate and yet he enjoys full occupation of the building;
- The tenant can benefit from a long-term use of the building designed exclusively for his specific needs – he would not depend on the market fluctuations;
- Engaging a reliable and experienced developer with excellent track record of servicing first class tenants;
- Choice of location – the tenant can lead the process rather than choose between locations already predetermined by developers;
- Benefit from a competitive rental level reflecting the specifications of the building, location, length of contract and guarantees provided.
Development and construction management are also part of our company’s services portfolio. Tailoring our services to the exact needs of our clients allows for a cost effective and focused approach in achieving the specific project goals.
With a highly qualified team of construction managers, document and project administrators, and accounting staff, we provide complete project support from acquisition to occupancy. Our team is engaged throughout the lifecycle of the project. PLD’s approach to construction management focuses on lowering costs, delivering on schedule, improving quality and minimizing claims.