FAQS About Commercial Construction Costs

Posted on July 5, 2022 by bafcorp20

When preparing for an upcoming commercial construction project, it is natural to steer your focus toward cost. After all, the whole point of building a new property for your business is to expand your profitability horizon. Fortunately, there are several resources available to real estate investors and developers like yourself that can help you gain the perspective you need to move forward with confidence. Below is one such resource.

Review these frequently asked questions about commercial construction costs, then get in touch with a trusted Indiana general contractor who can optimize your business objectives through a successful build.

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Frequently Asked Questions About Commercial Construction Costs

What is the Average Commercial Construction Cost Per Square Foot?

It is challenging to determine an average commercial construction cost because all projects are different. The cost of one commercial construction build will be different from the next due to varying factors like size, scope, local zoning, building codes, use of property, and of course, budget.

Above all, the top three factors that typically have the most impact on commercial construction costs include:

▷ Building Location
▷ Regional Climate and Weather Patterns
▷ Local Economy
▷ Architectural Design and Function

As for commercial construction square footage, averages will vary depending on these factors more. However, the average cost of a single-story office may be somewhere along the lines of $160 to $170 per square foot, while convenience stores might run closer to $100 per square foot.

Cost to Build a 5,000 Square Foot Warehouse?

Building a 5000 ft.² warehouse will come with some expected expenses, mainly due to the size of the building, plus the likely scope of function. Many warehouses have to be constructed with temperature and climate control features, as well as storage in cubic square footage considerations. With this in mind, you can expect a 5,000 square-foot warehouse to come in at a base cost of $7.50 per square foot. You may be able to get a cheaper deal if you choose a lower cost warehouse configurations such as the Q model Quonset or similar prefabricated metal buildings.

Are Commercial Construction Cost Projections Estimated or Fixed?

When budgeting your commercial construction build, it is vital that you choose a trusted and reliable commercial construction general contracting company to navigate your project. They have the resources and experience to accurately estimate the total cost of your build, including state-of-the-art cost analysis technologies and long-standing relationships with suppliers and subcontractors. With these qualifications, your commercial general contracting team can provide you with an estimate containing mostly fixed cost projections. This helps prevent cost increases or unexpected additional costs.

Can I Afford to Remodel My Business?

Yes, you can afford to remodel your business. When you choose the right Indiana general contracting company to work with, you can ensure that your remodel will be within budget, while also setting the foundation for a more lucrative future.

Are you wondering which Indiana commercial general contracting company to trust for your upcoming commercial build or remodel? Contact BAF Corporation at 317-253-0531 for reputable commercial construction and remodeling in Indianapolis and its surrounding counties.

The Average Cost of Constructing a Commercial Building

Posted on April 8, 2022 by bafcorp20

One could argue that, in the eyes of a real estate developer or investor, the most important element of constructing a new commercial building is cost. After all, cost has a direct correlation to profit, which is arguably the ultimate purpose of building and constructing new real estate. Initial thoughts are generally focused on developing basic fiscal expectations, but because there are so many factors involved in determining the overall cost of commercial construction, it can be almost impossible to gauge the exact amount of capital required to finish your particular project.

Continue reading to learn what you need to know about calculating the average cost of constructing a commercial building, plus which commercial construction company in Central Indiana to trust for superior project results.

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Budget Planning and Preparation for Commercial Construction

With the right budget planning and preparation, you can maximize your business’s utility, function, and overall operational efficiency, plus artistically depict your organization’s culture, all while remaining within your anticipated budget. You can achieve. These objectives and more with the help of a licensed Indiana commercial construction management company.

There are several methodologies that can help you and your commercial general contracting team accurately calculate the total cost of your commercial build, such as precision budget analysis, economic data integration, cost foreseeability charting, and contingency forecasting. A skilled commercial construction company will have the proper knowledge, training, and resources to properly apply and implement these methodologies for more accurate cost evaluation.

Common Commercial Building Cost Considerations

Although every commercial construction build is unique, there are some baseline costs that can help you establish a fundamental outline for a budget. Your commercial construction management team can help you determine which baseline costs to include in your budget outline.

Factors that will most likely influence the total cost of your commercial construction project include the size and scope of the build, the building square footage, building location, intended use of building, building structure assembly, building codes, zoning/permitting, architectural design, and much more.

You also need to consider the costs for fire protection systems, security systems, HVAC requirements, and plumbing. Additionally, there are other costs considerations that may come into play with your commercial construction project, like the market demand for the materials being used for your project and similar economic conditions.

Are you ready to begin the planning and preconstruction process for your new commercial build in Indiana? Contact BAF Corporation at 317-253-0531 for professional commercial general contracting services in Indianapolis, Indiana. We serve commercial and industrial clients all throughout Central Indiana.

What You Need to Know About Hiring a Commercial Architect

Posted on November 26, 2021 by bafcorp20

What does a commercial architect really do? Well, a lot, which is why they do not come cheap. Centrally, commercial architects polish and perfect the total design and function of your commercial build. But here’s the catch: you may or may not need an architect for your commercial construction project. By understanding when you need one and when you don’t, you can potentially shave thousands of dollars off your bottom line.

Continue reading to learn what you need to know about hiring a commercial architect, including an all-inclusive option to commercial construction that may save you money at all ends of the spectrum!

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Credentialed Designers are Not Cheap

Commercial architects, or credentialed designers, do not come at cheap price. For this reason, it is important to learn whether or not you actually need higher commercial architect for your project. When hiring a commercial architect, you can expect to spend anywhere between $50 and $250 per hour for their services. Other commercial architects charge by a set percentage of the total project cost, which average between 5% and 20%. Very few, but some commercial architects charge flat rate fees, which can be anywhere between $5,000 and $500,000 depending on the size and scope of the project. It is possible to negotiate fees with a commercial architectural company, but typically their pricing models are set in stone.

What Commercial Architects Do

Commercial architects are expensive because they are precision-trained in highly technical applications that have to do with building design, economics, and engineering. Not only will they design and draw up comprehensive blueprints, floorplans, or design specifications for your commercial construction build, but they will also take charge of other elements of the project, such as hiring a commercial contractor or subcontractors, as well as work with additional structural engineering teams and building authorities. They can also help with budget analysis cost foreseeability charts, and several other types of budgeting assistance. You can also expect a commercial architectural team to oversee the entire commercial construction build from start to finish.

Do You Need a Commercial Architect?

There are several advantages to hiring a commercial architect, making it entirely worth the cost of their services. Some of the most noted benefits of hiring a commercial architect for commercial construction build include cost efficiency and cost savings, smart structural problem solving, post-occupancy facility maintenance, feng shui design plans, ergonomic functionality, design innovation, and hassle-free commercial construction management.

Alternatives to Commercial Architectural Services

If the commercial architect is not a proper fit for your commercial construction project, you may trim construction costs by hiring a draftsman instead. They can draw up technical blueprints and floor plans at a more economical price. However, professional drafting contractors do not have the design and engineering expertise of a qualified commercial architect. So, for full frontal façade renovations or large-scale commercial construction projects, you would need a commercial architect rather than a drafting company.

The best way to cut costs on commercial construction build is to hire in Indiana commercial construction management service. Commercial construction management navigates all elements of a commercial build, from start to finish. This includes architectural engineering, blueprinting, design, building, and even post occupancy facility maintenance services.

Are you looking for an Indiana commercial construction company to help you with your upcoming build? Contact BAF Corporation at 317-253-0531 to speak with our esteemed commercial construction management teams about the commercial construction services we offer in Central Indiana.

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Advice on Commercial Construction Budget Control and Management

Posted on June 15, 2021 by bafcorp20

Building a new commercial property, whether a brick-and-mortar retail business or entire warehouse and distribution facility, the process requires a lot of planning and capital. With all of this effort put forth, with such a large investment at stake, it is important that you get the most out of your commercial construction budget. Although it is a common stereotype for all commercial construction project budgets to spillover in some area or another, this doesn’t have to be the case for your upcoming build.

Continue reading to learn some professional general contracting advice about commercial construction budget control management.

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Commercial Construction Budget Analysis

No matter how large scale of a commercial proprietor or real estate developer you might be, everyone has a budget. There are very good reasons to set a budget when it comes to commercial construction, all of which impact the future success of the company in whole. For this reason, it is very common to have your commercial general contracting company provide professional budget analysis reports while planning out your project’s blueprints. This paves the way for setting a budget; a budget you can maintain so long as you consider certain key factors and implement careful measures during the preconstruction and space planning process of your commercial construction project.

How to Manage Your Commercial Construction Budget

Timing is Everything ►

A great insider tip for managing commercial construction budgets is to beat the annual rush for commercial building. As soon as January 1 hits, the building season begins. This means that all commercial vendors’ orders and subcontractors’ schedules begin filling up, putting them more in demand and therefore increasing the price of their products and services. Complete the specifications and planning for your commercial construction project early on so that you can begin making calls and soliciting prices at the turn of the year before the price of vendors and subcontractors goes up.

Balance Your Needs and Wants ►

When it comes to a commercial construction project, it is important that you place the priorities at the top of the list in terms of setting and maintaining a budget. However, do not forget to also stay true to your company’s culture and overall vision. Be sure to also consider the specific concepts and ideas that you have for your commercial build, and incorporate those into your budget from the start.

Choose a Qualified Commercial Construction Company ►

By choosing a fully qualified commercial construction company, you place yourself in the hands of skilled professionals who can work your project from start to finish. Delivering a streamlined commercial building process ensures cost efficiency at all angles, as well as construction completion times. Your hired commercial construction team will cover everything from space planning and permitting, to designing, building, procurement, and even post-occupancy facility maintenance. They will be your one-stop-shop for all of your commercial construction building needs.

Looking for a qualified and experienced Indiana commercial construction company? Contact BAF Corporation at 317-253-0531 to speak with a seasoned Indianapolis Indiana commercial general contractor, today.

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Safety and Security Considerations for Stalled Commercial Construction Projects

Posted on December 14, 2020 by bafcorp20

Not all business deals and developments wind up successful. Many others simply run into obstacles that set back the construction process for long periods of time, such as lack of funding or economic hardships. Whether you are preparing to stall a current commercial construction project due to unanticipated events, or have recently procured an REO (real estate owned) property and intend on picking up where the construction last stopped, you will need to consider a few important factors.

Continue reading to review some important safety and security considerations for a stalled commercial construction project, and where to get the most proficient commercial construction work in Central Indiana.

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A Construction Project Requires Proper Preservation

When a commercial construction project must be stalled, it is vital for the current proprietor and general contracting team takes the proper steps and precautions to ensure the site will be protected until it is ready to be completed. As a real estate procurer, it is equally important that the commercial construction site had been properly safeguarded. If a commercial construction site is not correctly contained and preserved, it will lead to increased costs, safety risks, and longer time delays. The better preserved, the easier it is for a new owner to pick up where the construction process last stopped. It also makes it safer and more efficient, both of which translate into cost savings and liability protection.

Key Elements of Proper Construction Site Preservation

► SAFETY

Safety is the most important factor when it comes to both securing and starting up a stalled commercial construction project. If certain precautions and standards are not upheld, people can get hurt, both while a distressed commercial asset is vacated, and when the construction process picks back up.

Safety Considerations to Take:

✔ The building should be entirely locked up with a quality lock and security system.

✔ Windows and doors within ground reach should be boarded up.

✔ Secure elevator shafts.

✔ Cover floor openings.

✔ Turn off and secure all live wiring and electrical panels.

✔ Notify the local police so they can mitigate criminal activity.

► COSTS

Costs are another important element to consider for commercial construction site safety and security. If you are stalled your construction, but plan on completing it at a later time, be sure you close up and shut down everything in a way that protects your budget. When you pick back up the construction, the better preserved the site was, the less money you have to spend on losses and damages. If you are planning to sell your site without completing the construction, all of these considerations are still important for your potential buyers.

Cost Considerations to Take:

✔ Shut off the main water supply.

✔ Shut off all power to the property with the exception of necessary lighting and refrigeration.

✔ Properly store and protect all construction materials.

✔ Fully secure the grounds to abate vandalism and burglaries.

► TIME

Time is another essential part of the commercial construction stall and rebound process. If you take the proper steps and precautions, a stalled or abandoned commercial construction site takes less time to recover. Buildings should be wrapped if they are not externally finished, while all interior elements, including materials, should be property stored and protected. Your commercial general contractor should be able to address and monitor all of these aspects and more.

Time Considerations to Take:

✔ Prevent erosion, corrosion, mold, and other forms of time-causing damage.

✔ Roofs should be secured in place.

✔ Prepare for the unexpected time delays.

Indianapolis Commercial General Contracting You Can Trust

Contact BAF Corporation at 317-253-0531 for trusted commercial construction services in Indianapolis, Indiana and its surrounding locations. Our skilled and experienced commercial general contractors serve all corporate, commercial, and industrial industries in Indianapolis, Indiana and its surrounding districts. Call today to request free information or to schedule a consultation.