Lance Collins This is Me

 Web References

1. 1. NAREIT - Features

   www.realestateportfolio.com/po - [Cached]

   Published on: 6/3/2006   Last Visited: 11/10/2007

   "Our focus to pursue build-to-suit is new," says Lance Collins, vice president for development, Cabot Industrial Trust (CBT). "It's a good additional dimension."
   
   As a developer of industrial properties, CBT over the last two years has completed several build-to-suit projects, but it hasn't been until recently that the REIT's management made the decision to expand that segment of its business to meet client needs. "Few existing buildings can meet the new user requirements such as higher ceiling height, greater power requirements and additional parking," Collins says. "Many existing facilities can't accommodate those needs, or they may not be able to be retrofitted."
   
   "When you own or control over 50 million square feet of industrial space and you continue to do speculative projects you're going to be in the right place at the right time to do a build-to-suit project," Collins says. "We have done them either because existing tenants need more space or because we have a speculative development coming out of the ground at the right time."
   
   Since speculative construction is by nature risky, Cabot and other developers find that increasing their build-to-suit work adds a conservative piece to the portfolio puzzle.
   
   "Build-to-suit projects have lower yields than speculative development, but are offset by the reduced risk of not having to lease the property once it's built," Collins says. "You don't start a project without a tenant."
   
   As tenants seek facilities of size and scope that don't often exist in the marketplace, they are working with developers to build the type of structure that meets their business needs. "Five years ago a million square foot warehouse was unheard of," Collins says.
   ...
   "What will really drive [build-to-suit] is those companies that have done it successfully," Collins says. Noting that Kellogg's is developing approximately 1 million square feet of distribution centers in a few key cities and is achieving substantial savings, he expects the build-to-suit trend will continue.

2. 2. NAREIT - Features

   www.nareit.com/portfoliomag/01 - [Cached]

   Published on: 2/16/2003   Last Visited: 7/13/2006

   "Our focus to pursue build-to-suit is new," says Lance Collins, vice president for development, Cabot Industrial Trust (CBT). "It's a good additional dimension."
   
   As a developer of industrial properties, CBT over the last two years has completed several build-to-suit projects, but it hasn't been until recently that the REIT's management made the decision to expand that segment of its business to meet client needs. "Few existing buildings can meet the new user requirements such as higher ceiling height, greater power requirements and additional parking," Collins says. "Many existing facilities can't accommodate those needs, or they may not be able to be retrofitted."
   
   "When you own or control over 50 million square feet of industrial space and you continue to do speculative projects you're going to be in the right place at the right time to do a build-to-suit project," Collins says. "We have done them either because existing tenants need more space or because we have a speculative development coming out of the ground at the right time."
   
   Since speculative construction is by nature risky, Cabot and other developers find that increasing their build-to-suit work adds a conservative piece to the portfolio puzzle.
   
   "Build-to-suit projects have lower yields than speculative development, but are offset by the reduced risk of not having to lease the property once it's built," Collins says. "You don't start a project without a tenant."
   
   As tenants seek facilities of size and scope that don't often exist in the marketplace, they are working with developers to build the type of structure that meets their business needs. "Five years ago a million square foot warehouse was unheard of," Collins says.
   ...
   "What will really drive [build-to-suit] is those companies that have done it successfully," Collins says. Noting that Kellogg's is developing approximately 1 million square feet of distribution centers in a few key cities and is achieving substantial savings, he expects the build-to-suit trend will continue.

3. 3. NAREIT - Features

   www.changingrealestate.com/por - [Cached]

   Published on: 2/16/2003   Last Visited: 7/12/2006

   "Our focus to pursue build-to-suit is new," says Lance Collins, vice president for development, Cabot Industrial Trust (CBT). "It's a good additional dimension."
   
   As a developer of industrial properties, CBT over the last two years has completed several build-to-suit projects, but it hasn't been until recently that the REIT's management made the decision to expand that segment of its business to meet client needs. "Few existing buildings can meet the new user requirements such as higher ceiling height, greater power requirements and additional parking," Collins says. "Many existing facilities can't accommodate those needs, or they may not be able to be retrofitted."
   
   "When you own or control over 50 million square feet of industrial space and you continue to do speculative projects you're going to be in the right place at the right time to do a build-to-suit project," Collins says. "We have done them either because existing tenants need more space or because we have a speculative development coming out of the ground at the right time."
   
   Since speculative construction is by nature risky, Cabot and other developers find that increasing their build-to-suit work adds a conservative piece to the portfolio puzzle.
   
   "Build-to-suit projects have lower yields than speculative development, but are offset by the reduced risk of not having to lease the property once it's built," Collins says. "You don't start a project without a tenant."
   
   As tenants seek facilities of size and scope that don't often exist in the marketplace, they are working with developers to build the type of structure that meets their business needs. "Five years ago a million square foot warehouse was unheard of," Collins says.
   ...
   "What will really drive [build-to-suit] is those companies that have done it successfully," Collins says. Noting that Kellogg's is developing approximately 1 million square feet of distribution centers in a few key cities and is achieving substantial savings, he expects the build-to-suit trend will continue.