Land Purchase or Value

• Terminating former tenancies cost
• Growing crops-emblements

Environmental Engineering

• Hazardous Waste Assessment/Clean-Up
• Brownfield Credit and protection
  
• Wetlands determination and permitting
• On-Site disposal certification
• Clean Air Regs
• Radon
• Others
• 
  

Architecture and Engineering (Should your architectural contract include?)

• Design/Build
• Construction Management
• Architecture/Contractor
  
  • Perimeter survey and contours
  • Soil test (initial)
  • Cut and fill supervision
  • Traffic engineering
  • Off-site improvements
    • a. Street and utility profiles
      
  • Utility systems
  • Site work: Parking, walks, curbs, signs Building
    • Plot plan & Site Plan
    • Structural systems
    • HVAC
    • Plumbing and sprinklers
    • Electrical
    • Working drawings
    • Renderings
    • Shop drawings
    • "As built" drawings
    • Tenant mix drawings
    • Common facility details
  • Supervision
  • Draw certification (See Addendum)
  • Store drawings
    • Skeleton
      Final
      Approval of tenants' details
  • Signs -approvals (common area signs and tenants' signs)
  • Interior furnishings
  • Specifications
  • Bid documents
  • Bid supervision
  • Arbitration
  • Travel and other rebate items
  • Parking lot lighting plan and specifications
  • Retaining walls, etc.

Off-Site Work

• Perimeter landscaping
• Roads, curb cuts, drive approaches, acceleration lanes
• Sidewalks
• Traffic control signs

Utility Systems and Ditches (on-site, off-site)

• Electric service and transformers
• Telecom, fiberoptics, TI , Cat lines
• Storm sewers and drains
• Irrigation ditches --move or pipe
• Sanitary sewers or manholes (pumping station?)
• Water lines
  • Culinary
  • Fire sprinkler loop
  • Lawn sprinkling and watering
  • Fire hydrants
• Gas lines

Demolition

• Insurance special
• Salvage and hauling
• Restore to usable soil condition
• Temporary barricades

On-Site Work

• Remove trees and top soil
• Fill, cut, compaction, and grading
• Fences and perimeter walls
• Sign: Identification, traffic control, and pylons
• Curbs, gutters and drains, walkways
• Road base and surfacing (asphalt)
  
• Striping
• Landscapting
• Sidewalk around buildings
• Parking lot lights

Building Construction

• Shell
• Tenant spaces, including space planning and occupancy permits
• Common area
  • malls and commonhalls
  • Restrooms and community halls
  • Management office
  • Mechcanical, electrical, and janitorial rooms
  • Elevators and escalators
  • Common loading docks
  • Garabe and incrination facilities
• Tenant constructoin and finish: cost or allowance
• Tenant fixtures
  • Rough-in
  • Installing
  • Carpeting
• Furnishings
  • Mall, lobby, or other common area furnishings
  • Carpeting
  • Directories
• Miscellaneous construction costs
  • Pennits, municipal fees, utility connection fees, and meters
  • Bonds
  • Completion or perfonnance
  • Subcontractors'
  • Architect's errors and omission
  • Sales or use tax
  • Builder's risk (or other) insurance
  • Change orders
    
    
• Developer's Impact Fees
• Contractor's "general conditions" (on-site expenses)
  • Job supervision and office and temporary toilets
  • Temporary utilities (meters and bills)
  • Telephone and travel
  • Blueprints and shop drawings
  • Tools and equipment rental; temporary fencing
  • Security during construction
  • Winter protection
  • Snow removal
  • Job clean-up
  • Progress reports
  • Contractor's "home office overhead"
    * licenses and subcontracting
    * accounting and billing
    * employee reports and overhead
  • Other potentially desired items (such as):
    
    Showers, jogging trails, picnic tables, kitchen, plumbing, lab plumbing,
    private bathrooms, potential vending machines, docks, freight/passenger
    elevators, SMART (full communications), security system, direct metering
    

 

SOFT COSTS - fixed vs. variable costs

• In a build to suit, many of these costs are not incurred. Can you name them?

Interest on Land Loan Until Construction

or

Opportunity Cost on Cash Land Purchase

Advertising and Promotion

• Brochures
• Newspaper ads
• Media ads: radio, TV, journals, other
• Flyers to brokers, users, town officials, others
• Models, plans, aerials
• Receptions, gifts

Legal

• Land purchase agreements
• Partnership agreements
• Work on bank loan
• Lease development
• Tenant negotiations
• Construction/architectural contracts
• Title and other contracts

Accounting

• Financial analysis
• K-I or partnership forms

Bank Counsel

Bank Appraiser

Other Closing/Administration Costs

Real Estate Taxes Until Lease-up

Liability Insurance on Vacant Land

Terrorism Insurance

Builder's Risk Insurance After Construction

Liability Insurance After Construction

Environmental Warranty Insurance

* Secured Creditor's Insurance

Title Insurance

Land Loan-Points

Construction Loan-Points

Permanent Loan-Points

Construction Interest (See Addendum)

Lease-up Reserve

Developer's Fees

Commission/Leasing Fees

Consulting Fees

Utility Costs After Construction

Operating Costs After Construction

Lien Waivers

Prepayment Penalties

Contingency - or the 3 M's: mistakes, misfortunes, and misrepresentations