When to Design a More Customized Space or Go Spec
“When it comes to choosing the right building, there are several questions an organization must ask itself,” says MPS principal and Commercial Practice Leader K.J. Jacobs in this article he wrote for NAIOP Development Magazine. “Is the company at a place where it can invest in a building that will attract prospective employees? Is the company looking for a more temporary or flexible workplace? Or is the facility able to support the organization’s needs for production, research, collaboration or innovation? Since each company’s requirements, goals, and operations are unique, as are each facility’s offerings and characteristics, the answers will vary depending on who’s asking…”
What’s a “Spec” Building?
Speculative, or “spec” buildings, are built by developers with the goal of attracting tenants during or shortly after construction. Typical spec building tenants can include professional services firms, call centers and other businesses.
What’s a Build-to-Suit Building?
A build-to-suit building is a custom-designed facility tailored to meet the specific needs of an organization. These buildings vary in size, function, and design based on the owner’s operational requirements. Typically, they are developed for established companies with the resources and long-term vision to invest in a dedicated physical asset.
How to Determine Whether Spec or Build-to-Suit Is Best?
Whether you’re running a young, growing enterprise, or have a more established firm, read this article to discover how to determine whether spec or build-to-suits are right for you.
Download the full interview in PDF, here.
