A commercial building is a substantial real estate investment that can yield substantial returns. However, it requires a substantial investment of time and resources.
Suppose investors are confident that a commercial building is a suitable investment for their business. The next important step is planning and executing the project most efficiently.
The construction process for commercial buildings can be overwhelming, particularly for new builders and investors. Perhaps, they need to understand the entire commercial building construction process from start to finish.
Let’s explore this topic in detail.
Finding the Right Location
Location always impacts the cost of real estate projects, with high-demand areas having higher construction costs. The chosen location must allow easy access for customers and employees, especially for businesses providing in-person services.
Some cities have strict zoning requirements for construction types, so it’s crucial to know these before purchasing a site. Some properties may have moratoriums on construction, either permanent or temporary, to preserve the area.
Other types of moratoriums may prevent construction to preserve the existing state. Utilities to the site must meet the building’s needs, such as industrial facility plumbing, sewer and water lines, firefighting services, and roads. The construction project team should also study the soil to determine if the structure needs additional reinforcement and conduct soil testing to identify potential contaminants. A boundary survey and approval from multiple departments may be required for land replating.
Setting a Budget
To plan a construction budget, understand building structure prices across the country. The cost per square foot for a new commercial building depends on the size and location. So, connect with construction managers for accurate cost estimates and a holistic approach to planning commercial building steps and phases. They can help control overall project costs and keep construction within the established budget.
Pre-Construction
The pre-construction stage commences when the project owner informs the general contractor to proceed with the plan. At this stage, the required materials lists will be distributed to vendors and commercial subcontractors for quotes.
This phase involves obtaining the necessary building permits and meeting all insurance requirements. The soil is also undergoing testing to ensure its suitability for construction.
At the end of this step, a site investigation is conducted to minimize surprises and environmental hazards, ensuring a thorough understanding of the area. The construction team also forms at this stage.
Construction
The construction stage is the stage where the actual construction of commercial property takes place. This phase involves turning the project from a paper drawing to a tangible object. Before construction, there is an important meeting to decide on labour hours, quality control, site access, and material storage.
In developing a commercial structure, the construction stage is the most active phase. The process involves various stages such as groundwork, site excavation, Foundation Laying, concrete pouring, steel erection, framing, interior/exterior work, and roofing.
Post-Construction
Post-construction refers to all activities after construction and the commercial building is occupied. Ideally, post-construction commences with rigorous testing. The project owner, designer, and contractor must be satisfied with the completed work. A final walkthrough will be conducted, and some modifications may be made to prepare the building for use.
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