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Build-to-Suit Burt Profile
Build-to-Suit Burt

@BuildtoSuitBurt

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Gen II ground up development in FL. Building America’s favorite retail brands across the SE.

Joined January 2024
Don't wanna be here? Send us removal request.
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
3 months
We are deal making with and developing for some of the most exciting brands expanding across the Southeast. If I can help in any way please let me know - always happy to share notes and our group's experience. If you have retail sites you want us to look at in the Southeast,
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
7 months
This is my grandfather’s 1970’s Datejust. I never met him, it’s the only thing I’ve ever touched that he has too. My dad gave it to me when he was done wearing it, one day my son will wear it. At ICSC one year, a real estate manager decided it had something to do with one of
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
1 month
@mhp_guy Buc-ee’s is unbelievable. Some locations at millions of annual visits - more than theme parks. It’s road trip Disney.
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
6 months
List of who we are currently developing for: Chase Bank Valvoline Firestone McDonald’s Starbucks Wawa Advance Auto Space Coast Credit Union Discount Tire McAlister’s Heartland Dental Mavis Tire Arby’s Another Broken Egg And a few more in the works… We are looking for
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
4 months
With @ICSC right around the corner and 1000 followers, I want to introduce Burt! Don't let the mustache fool you, I can't grow one. I am 30 years old and am a second generation retail developer based in Florida. When I joined our small group 4 years ago, we were finishing
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
3 months
Confirmed - this app is wild. Good Morning to you too, @DutchBros @aaronharrisDB "Let's Dance!"
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
3 months
Hey @aaronharrisDB - I heard South Carolina needs some @DutchBros in their life. Does 28 cars stacking work? 40,000 VPD intersection across from Publix? There's a few things I don't like about this layout, but maybe we can share thoughts together!
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
6 months
Me: Hi I’d like to speak to John please John’s Assistant: I am the closest you’re going to get to him, what can I help you with? Me: I’d like to make an him offer on his property, he doesn’t want to meet me? John’s assistant: is there a for sale sign on the property? Me: No
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
4 months
This is my canvas. Still work to be done before we can start painting, but getting closer. Nearby Grocer: Publix Zoning: PUD Traffic Counts: 37,000 Median Age: 39 Average HH Income: $102,000
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
24 days
World’s largest @McDonalds … 19,000 SF! Open 24/7 365 Open for business in 1976 Anyone know where??
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
1 month
There is a Realtor in Texas...and I'm sure multiple platforms doing this now too... Flat fee Seller representation Whether the house is $600,000 or $6,000,000 he charges a flat fee under $7,000 at closing Two small upfront fees for photos and virtual tour as well as MLS
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
4 months
SBUX reserves the right to audit… I’ve heard from a few developers that SBUX can audit their build, and if it turns out that the developer did the job for more than 6.5% return on cost, a reduced rent is automatically triggered. Sounds like a lease dealbreaker for me. These
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
5 months
Chipotle wants a “pick up lane” (chipotlane) SBUX wants high volume stacking… I’m inclined to just build Chipotle a drive thru so if they ever leave, there is a real drive thru endcap available. Thoughts? This Chipotlane looks kind of strange. No room for order board, no
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
5 months
Great adaptive reuse of a Rite Aid I saw driving in Mauldin (Greenville, SC) today. Had to grab a google image, missed the picture. - Bohemian Bull - AT&T - Cryo - Sully Steamer's (personal favorite) Drive thru was converted to patio seating, awesome!
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
2 months
Happening everywhere across the Southeast. @ChickfilA is ditching their .8 acre site in Simpsonville, SC for the Mac daddy 2.5 acre parcel just down the road. Need more space, better layout, etc...you know the story by now. What's the catch with this deal in Simpsonville? CFA
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
3 months
@realEstateTrent One of your best tweets from a while ago. Guys spends years “playing the game”. Makes it to the top… What does he miss most? The game!
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
2 months
There is a “retail developer” I know who: 1. Gets a property under contact 2. Gets tenants interested or under LOI 3. Gets a rough site plan done 4. Makes a budget with a HEFTY assignment fee in it Then they flip it to another developer. Wild. I don’t know whether to feel
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
2 months
Referred a friend to the resi broker who helped us buy our house. Friend closed last week. Should I expect anything other than a thank you?
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
2 months
Warner Robins, GA - I75 & Russell Pkwy @Placer_ai tells me that @bucees in Warner Robins is averaging just shy of 1,000,000 visits a month. 963,000 to be exact. You know who else gets about that? @UniversalORL - 895,833. A theme park. Who is the next closest retailer to that
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
2 months
Retail Tenants want to negotiate more than ever right now. 1. Retailer says they need a flat rent… [proceeds to agree to 12% rent increase] 2. Retailer submits LOI for 145k… [the deal is approved at 185k] 3. Retailer says they can’t ground lease, need a BTS…. [We
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
2 months
The perfect building doesn’t exi-
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
28 days
I’m going to talk politics for a minute… At lunch today with the Vice Mayor of a city we are developing in. I didn’t ask him to do this… But he picks up the phone while we are sitting at lunch and proceeds to call: - head of the utilities department - city attorney -
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
6 months
What @NNNIncome is describing is nationwide. Here’s 3 different SBUX deals we’ve signed up over the past 15 months in FL : 1. Stand alone, $228,000 2. Stand alone, $215,000 3. End cap, $183,000 None of these will hurt us but are they time and capital best spent? Not
@chriswhatch
Chris Hatch
@chriswhatch
6 months
Just throwing this out there. 60 days later and this math still doesn’t come close to penciling.
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
3 months
Allow me to apologize and translate on behalf of my father... Auto Discount = Advance Auto California Pizza Chicken = California Pizza Kitchen Sherman = Sherwin Williams Chipoltee = Chipotle O'Reilly ≠ O'Charley's "I don't want to develop for them again" = Starbucks Dollar
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
3 months
Why do some national credit retailers still submit LOI’s with flat rent for 15 years? Are we ignoring inflation? Do we think LL’s are stupid? Is there any scenario we should agree to a flat rent? Everybody can see the deals for sale on the investment sale platforms!
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
5 months
Grandpa sold about 90-95% of all STNL assets he developed. I’m trying to sell about 75%, maybe that changes down the road - who knows. Joe cool here just told me he can’t wait to sell the other 25% the first chance he gets… We had a quick discussion on delayed
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
27 days
🌴Orlando @ICSC !🌴 This one is near and dear to us. You probably haven't heard of us... but I bet you've heard of: @DiscountTire @Starbucks @AdvanceAuto @McDonalds @McAlistersDeli @Bridgestone @Chase @HeartlandDental @DutchBros @FifthThird @Valvoline @Walgreens
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
1 month
The @ChipotleTweets CEO just became the @Starbucks CEO? I’ll take smaller coffees if it means a 15 year NNN lease 😊
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
1 month
Closed on 9 acres for retail development. Finishing up permitting and need to keep the grass mowed until we break ground or will get a code violation. Grass is probably knee height right now. Here’s two quotes that I received: Initial cut: $800 $5,250 3 week recurring
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
5 months
Retail Ground Lease Numbers we have talked about on opportunities or been party to discussions on recently: $375,000 Sit down $350,000 Bank $325,000 Bank $250,000 QSR $245,000 QSR $170,000 Auto I was previously shocked when I saw some of these numbers in Central FL, but they
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
18 days
“The three C’s: Carwashes. Chicken places. And coffee shops,” “All of us are out there looking for the same site, the end caps or good drive-through locations, and that’s causing real estate pricing to go up as well.” Coffee wars and chicken wars causing the price of retail CRE
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
4 months
One of my favorite quotes from @ICSC : Real Estate Manager: "If our lease is signed and you get a call from me...have a tequila before you call me back. It's almost never good."
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
4 months
Retail developer problems... Have not built for a tenant in a couple of years, so we ask their construction team what the building cost is running these days. $1.4 million is what we hear on the high end. $1.45 goes into our budget. Mistake. However, the tenant at the time
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
4 months
Would you rather… Develop a credit, STNL asset at a 7% return on cost? Develop a credit, 2-3 tenant asset at a 8.5% return on cost? Build-to-Suits only… Why? [cool renderings are not mine]
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
23 days
My @ICSC Orlando takeaways - We are permitting or under construction on all but 3 new site opportunities right now. Not too many "deal making" meetings as much as check in's to make sure everything is going smoothly. Low pressure meetings this year which was a first for me.
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
2 months
Here is something that really great real estate managers do: "Hey Burt, thanks for sending this site. We actually need grow right around the corner from here and would like to find a spot between ________Blvd and ______ Street on Hwy 44 and here's why..." It is so easy to do,
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
3 months
Hey @aaronharrisDB - I heard South Carolina needs some @DutchBros in their life. Does 28 cars stacking work? 40,000 VPD intersection across from Publix? There's a few things I don't like about this layout, but maybe we can share thoughts together!
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
12 days
Been seeing this graphic a lot lately. Watch for that green to creep west and north over the next few years! Watch for the red in Texas to never change. I give @HEB the slight edge over @Publix in personal preference but they are both great.
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
4 months
"My property is worth the same as the grocery anchored pads across the street." The grocery developer spent millions to get: - Utilities to the property - Access roads built - Retention built - Off site turn lanes built - The site properly graded "Sir, your property does
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
2 months
Me: So the Seller is countering above their asking price? Broker: Yes, it does appear that way unfortunately. What else is new…
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
3 months
Whenever I see the bold yellow and “SITE” font in my inbox, I get fired up. Atlantic Retail CONSTANTLY has some of the most high profile retail listings in the game. Great sites, awesome tenants and really good people.
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
4 months
ONLY way to finish up @ICSC !
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
2 months
Here's something I find interesting about our equity partner... Since 2012 they have funded 320+ multifamily and retail development properties. Majority of those investments being retail (call it 80-20). Of the retail portion, 90-95% have been single pad developments. One
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
4 months
$300,000 rent on a BTS tire store. That’s what it would take to hit 200 basis points on a $4 million project cost. Even if the tenant does want to pay that rent… Can you sell a top credit tire store for a 5.5 cap today? $5.5 million tire store?! I don’t think that’s one I
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
2 months
I went down a little bit of a @ChickfilA rabbit hole last night... Specifically looking at their site layouts east of Atlanta. This one in Snellville, GA is my favorite: - 400+ feet of drive thru (I think I count at least 32 cars stacked) - 62 Parking spaces - Great flow
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
5 months
Starting to feel the buzz in the air with @ICSC Vegas approaching! We can’t wait to work on deals and celebrate with everyone helping to build our retail success story. Southeast Tenant rep brokers, we want to meet you! Land brokers, we’ve got tenants to develop for! DM’s
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
2 months
A little morning recon on a friend’s new retail development in town. @CityBarbeque building looks sharp! @DutchBros broistas having a good time as always and @raisingcanes almost done. This was a former run down shopping center!
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
2 months
“Don’t buy too soon when things are going down.  For example, we offered a contract for $22 per square foot in 1987 that we’ll probably get for $17.50 per square foot this year.” - Memo: Trammell Crow Co 1989 Lessons Learned in a Down Market We are actively tracking several
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
5 months
National Brand: “Show us your pro forma exit cap rate” Me: “Sure, show us your sales prediction model” *Beautiful awkward silence* Open book is great but it’s gotta be reciprocal!
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
2 months
Time is of the essence in retail development. Here’s who gets it: Most Brokers Civil Engineers Architects Most retail tenants Real Estate Managers General Contractors Equity Partners Lenders Pro Development councilmembers Here’s who does not get it: Some retail Tenants
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
3 months
If we had the ability to be more patient than we currently are, we would make a lot more 15-20 year GL deals. Starting the work below without the 75% LTC construction loan we got wasn’t exactly feasible for us either. The fact of matter is, when we take down a large tract like
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
2 months
@TripleNetInvest The biggest surprise is that @portilloshotdog averages $650,000 per location of chopped salad sales. Insane.
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
5 months
4 years ago and beyond we were working almost exclusively with @Walgreens and @Bridgestone . Over and over again. Find outparcel, develop, sell, next. We knew what we were getting with those two tenants: - Great credit - Form lease - Same project team - Awesome Brokers &
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
3 months
Monday, June 10th 2024 in the life of a 2nd gen retail developer: - read and markup GL LOI for property in SC - tell a tenant why their lease stinks and that we need better terms - comb through contractor bids for a development breaking ground Q3/Q4 - piss off a RE manager
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
4 months
Developer finds a site for a tenant and makes the pitch. Success, he has a deal. Developer sweats over it for well over a year to make it work. Not a good deal, but good tenant. He struggles through and prevails. Broker posts on LinkedIn after... "My _____ deal is finally
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
6 months
We had a group interested in this space - great credit, by far highest and best (3,200SF) use for the market - would love to have made a deal with them. Here's how it fell apart... LOI comes through with 5 year termination clause on a "10 year lease". We say that isn't going
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
6 months
Early morning in Columbia, SC. Starting to see some pads take shape! Can’t wait to welcome: Spinx ⛽️ Valvoline 🚙 Guthrie’s 🍗 Achara 🐶 #retwit
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
1 month
Need to connect our home to city sewer and abandon septic tank. Here’s the first quote I got: $37,000 Here’s the next two: $9,879 $10,012 Wild. Stay away from the big names I suppose?
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
4 months
Single Tenant Buildings... #retwit which single tenant retailers have the best looking prototype? Lot's of curb appeal out there!
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
4 months
Our @Wawa site work is underway! Lots of action at this intersection in Sumter County, FL. I spy a pretty fancy looking @PandaExpress building too...
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
3 months
Going to tell you a story about some bump on a log, hard headed, national credit retail developers… Surprise! It’s us. We have property directly adjacent to The Villages…best property we own. 150,000+ residents, 50 square miles, great retail market. We have leased to Wawa,
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
4 months
85% of the commercial we have in permitting or coming out of the ground was off market. Truly off market. Phone call to the vacant land owner or a broker friend knows someone ready to sell. Also, there’s this thing called a permit period. We have them in our contracts.
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
15 days
Fresh blacktop today on the east coast of FL for Starbucks!
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
5 months
Love a good drone shot! #SBUX #retwit
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
4 months
Has anyone visited KRATE just outside Tampa in Wesley Chapel? - 94 shipping containers - 29 restaurants - 17 retail shops - 1 (I think) outparcel??? Interested to hear what sort of success this development has had… @tyleralley24 would love your take!
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
5 months
Entrepreneurs, Athletes, My CRE bubble… How do you “turn it off” before you get home and see your spouse and kids? Some days are harder to disconnect and greet your biggest supporters with a smile. I sit in the car in the driveway for a few minutes, deep breaths and take my
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
4 months
We work in places we want to spend time in. Sunrise in NC this morning.
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
7 months
@marketswithmay Did the deal at 7% of cost and we are friendly to this day! He called and said he may have been a bit out of line…
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
2 months
Someone asked me recently, “How do you find Faith or glorify God in retail development?” Hmm… that’s a tough one. Is building QSR’s or tire stores or whatever it may be noble at surface level? Maybe not… but it’s all perspective. And I do hope someone comes to Christ in
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
4 months
I can attest to all of these - great thread. Below is my #1 ...fee fatigue.
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@chriswhatch
Chris Hatch
@chriswhatch
4 months
CITY FEES Many of our cities have had big growth. To add new parks, sewer & water lines for the next couple of subdivisions all came at a cost for the city. Most costs pass back disproportionately to CRE. Not uncommon to pay $150,000+ in fees to build a 950 SF Dutch Bros.
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
3 months
Best way to meet retail RE managers and tenant rep brokers? Have a site to show them with: - thousands and thousands of cars that pass by daily - a strong traffic driver in the general vicinity (Publix, Costco, HEB, Trader Joe’s) - at minimum 3/4 access (preferably full)
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
2 months
We cannot ABSOLUTELY CANNOT Get permits anywhere in FL right now without the services of a good land use attorney. Does not matter if our use is allowed by right. Does not matter if the municipality likes our use. Other states in the Southeast we have had better luck
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
4 months
Hot topic of discussion / common question I got at @ICSC 2024: “So where do y’all get your equity / debt from these days?” 1. Small but mighty equity shop right down the road from us - and they are very nimble. They love retail. 2. Local credit unions. Can’t say enough good
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
1 month
If someone says they want to hop on a call and see how they can add value they are not going to add value. Incredibly overused. It makes me want to run and hide.
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
4 months
We are closing a $7.5 million construction loan and buying $3 million of land on Tuesday. I was in lala land when I wrote out the timelines in these contracts. Bless the lender, equity partner, all counsels and our team for the work. Happy Memorial Day weekend, retail
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
7 months
@josherau Thanks! Had no clue… didn’t know this was called a “tapestry” dial either. This has been fun and helpful
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
7 months
This is the ideal retail developer uniform. You might not like it, but this is what peak performance looks like. No this is not me. Yes this is one of our principals. Looks like he’s wearing a Turkish rug 😂
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
6 months
Starting to see some high profile retail deals get stale with Sellers and land owners. I’m talking Portillos, CFA, Miller’s Ale House, Outback, Wawa, First Watch etc… really quality sites in the SE. Sellers are holding out for the last dollar they can - only to end up with
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
3 months
My retail enigma... @Popeyes We have developed tons of sites that have garnered interest from the major national retail players. We have sent almost all of these sites in the past 3-4 years to Popeyes or their brokers. We have gone up to the Popeyes booth at @ICSC and met
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
3 months
Someone once told us this Simpsonville, SC market is impossible to break into. We’ve done it once, and we are under contract to do it again. 🚨Retailers and brokers - we’ve got one pad left… @aaronharrisDB it’s on the morning side of the road. Just saying.
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
2 months
Banks and credit unions still want brand new brick and mortar. Not sure why they do... but the crazier thing is what they are willing to pay for it. Here's a few year 1 rents on banks and credit unions that are our deals: Credit Union 250k BTS in Permitting Bank 120k GL in
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
2 months
Texts between my dad and I today. I can picture him softly smiling at our small victory, but I feel the relief too. The stuff that gets me out bed in the morning keeps him up at night now late in his career. He could have easily retired but chose to teach me retail
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
4 months
PSA from me and @TripleNetTyler to all of you! Thx for the hat!!!
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
4 months
I am strongly opposed to negative leverage retail developments. You cannot bank on selling quickly right now. We try to develop everything as if we are going to have to own it long term (even though most times we do not want to be long term owners). We will break this rule
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
5 months
Anyone else notice that the Ace building in their commercials lately looks awfully similar to a former Walgreens in Oviedo, FL? 😂 At least put a flagship or prototype in the commercial! #retwit
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
4 months
@CoyDavidsonCRE I don’t think I would buy one…but this one is special. Topical with ICSC coming up!
@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
7 months
This is my grandfather’s 1970’s Datejust. I never met him, it’s the only thing I’ve ever touched that he has too. My dad gave it to me when he was done wearing it, one day my son will wear it. At ICSC one year, a real estate manager decided it had something to do with one of
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
11 days
Developer Funding Platforms NNN REIT, Agree Realty and similar all have em… But in what scenario does this platform make sense??? They always offer us 6 cap exits for our @McDonalds developments, 7+ cap exits for @Bridgestone and so on… They fund 90-100% of the deal but
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
5 months
Brokers - Send me a note if you have a requirement in FL or the SE - retail assets only… $4.3 million range and $5.3 million Would love to make our first deal from X! Finishing up two really nice builds in great markets.
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
5 months
Imagine being under contract on a property and approaching a tenant rep broker to put the site infront of their tenant… Then the tenant rep broker goes right to the Seller and seller’s broker (who happened to be my friend) to try and make a deal and bring it to another
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
6 months
@TripleNetTyler Movers
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
3 months
Connected through @DallasLoveField on Saturday. Looking out the window during our descent, I saw this… Everywhere, for miles - it’s amazing. @RELurker @tyleralley24 @bethanyjbabcock Have you guys done anything in San Marcos or New Braunfels? I remember when we were moving
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
3 months
He died behind his desk - heart attack. 79 year old real estate attorney, former democratic finance chair for multiple campaigns, advisor to Clinton’s, Carter’s and more. My dad at times had to step out of his office so he could receive calls from Mrs. Clinton. Their
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
4 months
🤤
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
2 months
I’m wearing shorts and a polo today. It’s 95 degrees in central FL. No in person meetings today…maybe not a good excuse. Apartment developer who I had met once before comes into our office and we briefly talk retail development. Him: “Well, I can tell you’re the next
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
1 month
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
5 months
#retwit How is a @Starbucks earnings drop going to affect the deals for sale on the market currently? Asking for a friend…
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
5 months
Sport coat? Suit? Company polo? What are you wearing on the @ICSC floor this year? Why? Saw a lot of sneakers and polos last year! Monday we dressed up - Tuesday we went with company polos. Dressed up for dinners and happy hours. PS - don’t ask a Texan if their feet hurt
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
5 months
My son one day when he finds out there’s a bunch of retail access roads named after him…
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
7 months
#retwit community - Are you pairing @ChipotleTweets & @Starbucks with other good credit tenants in a two tenant building or still shooting for stand alone? How are you measuring lower cap rate for stand alone vs economies of scale in a two tenant?
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
4 months
I love when we get sent a deal in a market we are already developing in. It’s easier to scale and budget when we know what to expect: - how planning and zoning / new development operate - local DOT guidelines - utility fees, impact fees, permit fees - local construction
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@BuildtoSuitBurt
Build-to-Suit Burt
@BuildtoSuitBurt
5 months
I’ve been hit up by 3 lemonade stands today - love our neighborhood. “Sorry guys, I don’t have my wallet” will not work by the way… They all take Venmo… and they can’t wait to overcome your first objection with that!
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