SMALL BAY FLEX DEVELOPMENT CHECKLIST
Once you’ve secured your parcel, it’s time to gear up for construction. Plan ahead now to save yourself serious stress (and money) later. Flex builds move fast, but mistakes can cost you months. Use this checklist to stay on track from start to finish.
SCOUTING & EARLY PLANNING
- Set up alerts: Use Google Alerts for "flex space (city name)," "contractor warehouse (city)," and similar terms. Stay informed on new builds and nearby developments.
- Connect with planning staff: Verify zoning is suitable for small bay flex (light industrial, etc.). Schedule a pre-submittal meeting if available. Bring concept layouts but avoid firm commitments.
- Monitor the market: Assign someone to check monthly with local planning departments for incoming flex developments. Competition can impact lease-up.
SITE DUE DILIGENCE
- Order surveys:
- Topographical and boundary surveys
- Soil borings (ask your engineer)
- Tree survey (if city requires)
- Environmental Phase I (standard for financing)
- Endangered species reports (rare, but check)
- Check platting requirements: Many municipalities require an official plat, including easements and setbacks.
- Utility location: Walk the site in person. Identify where water, sewer, power, and fiber are located. Unexpected relocations = unexpected costs.
- Start working with 3rd-party leasing/management: If you plan to hire one, loop them in early. They can advise on ideal suite sizes and parking needs.
LAYOUT & PLANS
- Determine land-to-cost ratio: Land should ideally be 20% to 30% of your total project cost.
- Create site layout: Ensure:
- Each bay has a garage door and walk-in door
- Sufficient parking per use type
- Fire lanes, drainage, truck access
- Expansion flexibility
- Stamped civil and foundation plans: Needed for permits and contractor bidding.
PRE-CONSTRUCTION
- Get at least 3 contractor bids: Don’t rely on ballpark quotes. Accurate bids require full site layout and civil plans.
- Bid out extras separately: Signage, fencing, access control, security, landscaping, etc. If not part of the GC bid, quote them now.
- Update your pro forma with real numbers from bids.
- Line up financing:
- Conventional: allow ~60 days
- Prepare a lender packet: Include all plans, pro forma, bids, tax returns, PFS, business plan, and management details. Store it all in a shareable folder.
- Start equity raise (if needed): Most investors want final numbers before committing.
BUILDING PHASE
- Sign GC contract: Lock in your pricing. Get a project schedule and demand updates.
- Request a build schedule with critical path items:
- Steel buildings
- Garage doors
- HVAC
- Security and access systems
- Signage
- Submit for permits early: Building, fire, utility, and access permits can take 30-90 days depending on jurisdiction.
- Monitor progress weekly: Ask for weekly photo updates or hire a construction manager if you're remote.
- Avoid verbal change orders: Require written documentation and signed approval for any scope/cost changes.
- Hold retainage: Common to withhold ~7% of total payment until all final inspections and Certificate of Occupancy are complete.
PREP FOR OPENING
- Implement marketing: Launch your leasing website, signage, Google Business page, and broker network before CO.
- Set up operations: Finalize leases, payment software, utility setup, and building access systems.
LEASE-UP & NEXT STEPS
- Stay patient: Lease-up takes time. Stick to your plan, adjust where needed.
- Operate with discipline:
- Raise rents annually
- Answer every tenant call
- Monitor your online reviews
- Keep your bays clean and secure
- Start planning your next project: If you made it this far, you're ready to scale. Keep going.
You did it. On to the next flex park.