Make Build Ship

OVERVIEW

Hocking County was out of space in their industrial park. Consequently, businesses looking to expand or locate there were forced to look elsewhere. Make Build Ship LLC, a local development firm, in partnership with the Hocking County Community Improvement Corporation, planned to build a speculative building in the Logan-Hocking Commerce Park to address this issue.

CHALLENGES

The deal did not initially make fiscal sense. The cost of new construction was not supported by the market rents. Lehman Daman worked with MBS to ensure the design of the building would be as cost-effective as possible. L/D helped to bring this project within budget by relocating the retention pond, adjusting the dimensions of the building, and investigating several interior buildout options. L/D provided many conceptual budgets through this exercise until finally MBS had a plan that could be financed.

As construction costs continued to rise, L/D helped MBS develop a procurement strategy to offset the risk of these rising costs. Between Feb and Apr of 2021, the cost for the steel rose >30%. L/D helped MBS lock in steel pricing by negotiation with the pre-engineered metal building supplier to take a smaller than normal deposit to secure the pricing and delivery date prior to MBS closing on financing for the deal.

L/D delivered the project ~$450,000 under budget and one month ahead of schedule.

Client
Make Build Ship

Location
Logan, OH

Size
48,000 SF

Delivery
Construction Manager at Risk (CMR)

Timeline
Fall 2021 - Spring 2022