Cox McCarver Speculative program
A local organization will have complete control in deciding the location, cost and available amount of acreage on which the facility will be constructed
- Cox McCarver Development maintains ownership of the land until the facility is leased or purchased
- The local community organization will be responsible for recruiting the industrial prospect to occupy the building.
- If a pre-engineered facility is selected, the organization will have three (3) years to lease or sell the facility.
- If a conventional facility is selected, the organization will have two (2) years to lease or sell the facility.
- Should the facility be leased or sold before the 2nd or 3rd year period, the sale price or lease rate will be reduced by a pre-determined amount.
- Cox McCarver Development will continue to work with the community throughout the project with pricing, referring prospective tenants and marketing materials.
An Innovative Approach To Speculative Buildings
Speculative buildings are often a community’s best tool for industrial recruitment. This type of building can attract the attention of companies who need more space or plant capacity in a hurry and by meeting these needs, your community is set apart from the competition.
Cox McCarver Development / Cox Construction Co. has a program that partners with communities to develop speculative buildings for industrial recruitment. The program allows communities to tap into our expertise in construction and commercial leasing, by minimizing your risk and maximizing your construction budget.
Here’s how the program works. Cox McCarver Development / Cox Construction constructs a speculative building for a community. The responsible community organization (such as an industrial development board) has complete control during the location process, the design, build-out and promotional phases. The community organization is responsible for leasing or selling the building within a specified time of two to three (2-3) years. (That means no payments for up to two/three years). During this period and marketing process, the community organization will be relieved of any payments or interest, being only responsible for temporary utilities, grounds and maintenance upkeep, and promotional expenses. At the end of the specified time, if the building has not been leased or sold, the responsible organization will then lease or purchase it at a predetermined cost.
We offer a variety of financial options to both the community and to the industrial prospect. These options will allow a community greater flexibility in negotiating with a prospective client that is considering your area. Remember; the community organization does not tie up any cash or create any bonded debt by utilizing this program.