As the commercial real estate market improves, it’s more difficult to find distressed properties or sellers, and real estate development is one of the few avenues for value creation.
The relative lack of new retail space played a key role in the current low vacancy rates and the increasing demand for redevelopment and ground-up development.
With over 150 years and $4B dollars of combined development experience, the Devonshire team is uniquely suited to take advantage of this quickly evolving commercial real estate environment.
One of the keys to any real estate investment, but especially construction and development, is carefully managing risk exposure.
Thanks to long-standing relationships with some of the largest retailers in the US, Devonshire dampens risk as a “preferred developer” to these retailers. In this role, the developer is in a stronger position to fill the junior and small box spaces.
As a preferred developer, Devonshire also typically gets “first look” at upcoming projects and can pick those best suited to the team’s skill-sets and geographical expertise.
Devonshire Development Group currently has over 1MM square feet of redevelopment and ground-up development projects in-process.
Notable Tenant Relationships:
“We run a set of 45 detailed metrics on every property we consider and number one on the list is always risk. What is the risk/reward on this property?”
– Mike Denman