A retail project that is truly filling the need for greater supply of retail space should be leased fairly quickly, and slow pre-leasing can be a big red flag for lenders and investors.
What do you consider to be a low, average, or large amount of pre-leasing at different stages of a new development? Say at when the drawings are completed, when a GC is selected, when sitework has begun, when the construction loan closed/begins to fund, and when the building is completed?
this is a great question. to state a more obvious point, you don't start sitework without a construction loan closing ... and you don't get a construction loan without some pre-leasing. but what percent exactly, i don't know, and how you achieve that, i don't know either, so i'm curious to see replies here...
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