If you’re considering sites for a new facility, you may come across listings for speculative (“spec”) buildings. Developers often construct these basic, pre-engineered buildings in anticipation of a future tenant, and they can be attractive for owners looking for a new space.
Upfront, spec buildings offer to reduce costs by cutting out design and construction steps from a tenant’s to-do list — but there’s a catch. Food and beverage manufacturing has unique needs and it’s impossible to guarantee a spec building will meet them without retrofitting. Although leasing a spec building may be attractive to manufacturers who want to ramp up production quickly, there is the potential that they will incur additional costs the owner wasn’t anticipating.
It can be a valuable option in certain situations, but there are factors to consider before making a final decision.Continue Reading “Factors to Consider Before Using a Spec Building for a Food and Beverage Facility”