By partnering with leading developers, VEREIT's built-to-suit program provides capital for fee development and forward take-out commitments. Build-to-suit opportunities are available for creditworthy tenants in need of a new, custom retail, office or industrial facility with a long-term lease. Additionally, we are positioned to roll out tenant concepts across the country with a retailer's preferred developer.
Build-to-Suit Project Example
- Tenant: MedAssets, Inc.
- Building Type: Class-A, Four-Story Office Building
- Location: Dallas, Texas
- Partner: Trammell Crow Company
- Square Feet: 225,000
- Purchase Price: $46.2 Million
- Closed: February 2013
VEREIT entered into a development agreement with Trammell Crow Company to develop the four-story, Class-A office building in the Legacy Business Park in Plano, TX, leased and 100% occupied by MedAssets, Inc. The property was completed early in 2013 and serves as a regional operations center for MedAssets.