Hey
I have an equity partner who is interested in parking his money in net lease build to suits for strong credit tenants. My experience in development has been mainly focused on multi family or mixed use, not net lease deals.
Does anyone here have experience sourcing these types of deals?
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Yeah I can't send you a PM for some reason. Maybe I need to comment on some others then I will send you a message.
Interested in this also.
In general, you either know a broker very well or someone at the national company very well. Get out and meet people.
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Further than that, a lot of times the company head of real estate is a former broker from a local shop and works with his old shop, or the CBRE/JLL/Colliers/etc. broker who runs with the account used to work for the company in-house and maintained a good relationship. It's somewhat of a revolving door. If you get in with the right people though...
These tenants are typically called Users. They occupy larger single tenant industrial spaces of 50,000 sqft and up. The brokers on these deals have a pipeline of users and are intimately familiar with up and coming projects in the region and the needs of these users.
Some food for thought.. Find franchisee owners who have rights to specific territories. Some franchises, when they give rights to a territory, require the franchisee to build a specific number of new stores per year. The developer that I know works with the owner to find specific, suitable sites, develops the site, and leases it out to the franchisee. Strong credit, NNN, national tenant, build to suit.
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