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Economic Development D ISCUSSION ON S ITE S ELECTION AND U SE OF T RADITION S TUDIO B UILDING C ITY OF P ORT S T. L UCIE, FL MB Moran, Stahl & Boyer S.

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Presentation on theme: "Economic Development D ISCUSSION ON S ITE S ELECTION AND U SE OF T RADITION S TUDIO B UILDING C ITY OF P ORT S T. L UCIE, FL MB Moran, Stahl & Boyer S."— Presentation transcript:

1 Economic Development D ISCUSSION ON S ITE S ELECTION AND U SE OF T RADITION S TUDIO B UILDING C ITY OF P ORT S T. L UCIE, FL MB Moran, Stahl & Boyer S & Site Selection and Economic Development Consultants

2 Step 1 Define the Business Case Step 1 Define the Business Case Step 2 Prepare Risk vs. Cost Feasibility Step 2 Prepare Risk vs. Cost Feasibility Step 3 Location Screening Process Step 3 Location Screening Process Step 4 On-Site Visits to Top Candidates Step 4 On-Site Visits to Top Candidates Step 5 Negotiations/Selection Step 5 Negotiations/Selection Step 6 Implement Relocation Step 6 Implement Relocation Many evaluations don’t make it past Phase 1. Step 3 is the “cutting floor” for many communities. Phase 1 Phase 2 Phase 3 L OCATION S ELECTION P ROCESS MS B & 1

3 Client Discussion: Define Key Selection Criteria Right to Work State Geographic positioning to optimize logistics Industry presence (for specific skills and support services) Transportation access (rail (bulk/container), air, interstate and water port) Demographics (population size by age group, education, etc.) Other resources available (land/buildings, utility cost and capacity, training resources, etc.) Screen Locations and Profile Top Candidates Engage in location screening based on client needs defined above. Profile top locations that pass the screen. Present Results to Executive Team L OCATION S CREENING MS B & 2

4 Proximity (30-45 minutes) Labor resources Quality of life/housing costs Business/R&D partners Airport access Local Access to Interstate/Amenities/Services Interstate Access Restaurants/shopping/services Business services Site Conditions Overall size of site/lot sizes Options for future expansion Wetlands/flood plains/soil Utility capacity, cost, backup Zoning/adjacent site use Level of site readiness Building Size/age/condition of structure Layout/types of space/flexibility Cost and buy vs. lease options Level of readiness 95 3 S ITE /C OMMUNITY E VALUATION MS B &

5 R EAL E STATE R EQUIREMENTS MS B & OperationDescription of Requirements Headquarters Existing Class A building with “unique” features (25,000 to 100,000+ SF) Local amenities (restaurants, hotels, services, etc.) Lease rates: $20-$30/SF depending on quality/location Back Office 25,000 to 100,000+ SF Class A/B with adequate parking Training space, eating areas, break room Lease rates: $15-$20/SF R&D Center 25,000+ specialty space (wet/dry labs, pilot plant/prototype) On-site/near-by amenities and services Lease rates: $15-$40/SF depending on amount of build-out Data Center Dual power/telecom (low cost/and highly reliable) with backup emergency power, cooled room and cable access Low profile to public access/awareness (obscure site) Lots are 5 to 15 acres, away from natural disasters Lease rates: varies widely by build-out specs. 4

6 R EAL E STATE R EQUIREMENTS MS B & 5 OperationDescription of Requirements Manufacturing 25,000 to 100,000+ SF expandable flex space Ceiling heights of 30+ ft, 50’ column widths Access to industrial-grade utilities (needs vary by industry) Building <20 years old due to code and contamination issues. 5 to 25 acre sites within an industrial park with Shovel Ready or Pad Ready status. Lease cost: $5-$12/SF depending on type/quality of space Distribution Existing building 100,000 to 1,000,000+ SF 25 to 100+ acre sites (shovel/pad ready) Truck access, limited distance to interstate Lease cost: $2-$6/SF depending on needs and industry

7 Overall Market Drivers/Trends Global Dynamics (India/China) Technology Trends Impacts From Recession Demographic Shifts Sustainability Cost of Energy World Unrest/Terrorism Sourcing/Logistics Strategies Government Policies Transportation Food/Nutrition EnergyDefense/Security Health CareEducationCommunications Infrastructure Examples of Market Needs Categories Financial SecurityHomes/BuildingsWork OptionsEntertainment Opportunities Strategic Location With Access to Resources and Venues Services ManufacturingCommerce Tourism M ARKET T RENDS... O PPORTUNITIES MS B & 6

8 G ENERAL L AYOUT /C ONFIGURATION MS B & 7

9 T YPES OF S PACE MS B & Large Foyers and Meeting Areas Executive Office General Offices Utility/Server Theater Large Storage or Production Area 8

10 O PTIONS TO C ONSIDER MS B & Single or multi-user Types of operations to consider for use Sell or lease... terms of contract Use of dedicated national broker or market “in-house” 9


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