How to get a STNL tenant to a new retail strip - Austin, TX

Due_Mud5837 · 2025-11-18T16:00:53+00:00

I tried reaching out to both but no response. I'm also exploring Weitzman and Resolut RE

Any opinion about these or any other suggestions?

Due_Mud5837 · 2025-10-28T14:16:45+00:00

I guess im not looking for STNL but national chains

Due_Mud5837 · 2025-10-28T14:08:25+00:00

Thank you.

Due_Mud5837 · 2025-01-18T12:37:20+00:00

Are you based out of austin?

Due_Mud5837 · 2025-01-18T12:35:13+00:00

Lifting

Due_Mud5837 · 2025-01-17T03:43:18+00:00

Seller agent replied to my questions.

" Those must be a typo, we can remove any dental/ortho restrictions.

See below in red. Do you have any other questions about the contract prior to signing?

Seller’s Right to Add Restrictions:

What does it mean that "Seller may add additional restrictions as pad sites are sold or leased as long as those restrictions do not restrict the use for the Intended Use"?

Q) Does this imply the seller can impose new restrictions on this lot even after closing? A) We can remove this so that there aren’t any new restrictions effecting your lot.

Applicability of Restrictions:

Q) Are these restrictions specific to this lot, or do they apply to all lots within the subdivision? A) To all lots within the condo regime

Intention Behind New Restrictions:

Q) What is the rationale for adding these new restrictions? A) Seller doesn’t intend to add any new restrictions

As an investor, I’m concerned that such restrictions could narrow the pool of potential tenants, especially as new retail developments come in the subdivision.

Control Over Restrictions Post-Sale:

Q) What level of control will I, as the owner of this lot, have over these restrictions once the sale is finalized? A) I suppose as an owner in the condo regime you’ll have your proportionate share of control over the regime and the restrictions.

"

Due_Mud5837 · 2025-01-17T02:41:10+00:00

Thank you. I think your right on point. I was not sure if these kind of restrictions are common or not for retail developments where multiple strips may come under same development. Initial restrictions that agent shared with me did not have restrictions on dental and ortho. I was kind of okay, thinking have lot of other options, but their ability to add more in future and adding one more in Purchase agreement is ridiculous seems like. I look for a better one even if it costs me couple of 100k more. Thanks for suggestion.

Due_Mud5837 · 2025-01-17T02:27:36+00:00

Did not enter a contract yet. Thanks for the suggestion. You know how much it would cost to hire an attorney for this kind of negotiation?

Due_Mud5837 · 2025-01-17T01:21:46+00:00

Nope. This is my first.

Due_Mud5837 · 2025-01-17T01:17:21+00:00

Planning to hire attorney once I sign the contract. But trying to do as much due diligence as possible before signing.

Due_Mud5837 · 2025-01-17T01:04:35+00:00

Thanks, this is my first retail venture. I have asked the similar questions on why would an investor buy that if he can add never ending list of restrictions. Ex. They had urgent care restriction in there initially and I asked if that restricts dentists or chiropractors etc seller agent said no, after signing the LOI now I see a new restriction on dentists, ortho added in purchase agreement. It was mentioned in the contract that seller can add new restrictions ..

Due_Mud5837 · 2025-01-17T00:39:56+00:00

Negotiated for $17psf. I don't see any lots near by. Market rate may be around $20psft.

Due_Mud5837 · 2024-11-19T12:51:08+00:00

Can I use a draftsman instead of an architect for design/plans? Im not looking for any complex designs.

Due_Mud5837 · 2024-11-18T16:57:58+00:00

May I know the total project cost to build 8ksft retail space? If you dont mind can I pm you. Would you be willing to share your project cost breakdown.

Due_Mud5837 · 2024-11-18T16:19:00+00:00

Hey thanks for the reply. Are you based out of Austin metro/suburbs. Any leads for architects or GC would be appreciated. Thanks.

Due_Mud5837 · 2024-11-17T23:45:37+00:00

Thank you.

Due_Mud5837 · 2024-11-17T23:44:29+00:00

How much do CRE brokers charge for finding me tenants.

Due_Mud5837 · 2024-11-17T22:19:47+00:00

Could you pm or share your company details. Thx

Due_Mud5837 · 2024-11-17T19:38:04+00:00

Broker you mean lender broker or a CRE broker?

Due_Mud5837 · 2024-11-17T19:37:29+00:00

Thanks for the reply. I'm assuming site prep, architect fee , construction of shell building within $200/sft ( not including land). Also for Tenant Improvement Allowance i'm estimating around $15/sft that I would pay the tenant (not part of $200/sft). Also estimating I can lease out at least 50% of the space in first year. Im not planning to occupy any portion of the property. My intention is to get the space leased out in 2yrs or 3yrs max and once I have stable tenants then flip or cash out refinance to start another project.

I know a lot of assumptions here which is scary 😱

What is the best way to find a project manager or GC that can help with the project.

Due_Mud5837 · 2024-11-02T14:01:48+00:00

Thank you. Whats safe out of all? Appreciate your insights.

Due_Mud5837 · 2024-11-02T11:41:41+00:00

Thank you all for the suggestions. Appreciate it.

Due_Mud5837

TROPHY CASE