3 days ago
For private investors, purchasing an existing structure, even one that requires significant capital improvements will often yield a better return than ground up development. Without the economy of scale that large developers have, the cost per SF to build individual properties with today's labor and supply costs often far exceed the cost of improving existing properties.
If you are looking to acquire for personal use and prefer the efficiencies and luxury of having a property constructed that is perfectly suited to your needs affords, that is another story. (Article link in bio)