cost per square foot? - tanTALK

student of the game · 05-11-2002, 12:17 PM

Until now, I have only built small to medium size stores...maximum of 2,000 square feet.
There is a lot of talk about these bigger stores.....some up to 5,000 square feet or larger.

How many square feet is ideal? How many total tanning rooms? What is the optimal electrical capacity in terms of total AMPS (three phase)?

What is a reasonable cost per square foot to budget on a "turnkey buildout".....including everything (even electric upgrades, A/C, and exterior sign) except equipment?

I'm sure there are lots of people who will benefit from responses from Robbie, Alex, and the others who have proven the success of the "larger store model".

Thank you!!

(I'm sorry if I offended anyone by asking for help. I just wanted some guidance, and a ballpark figure on the cost per square foot (excluding equipment) for building a larger store.)

CHUNN · 05-11-2002, 01:40 PM

Our largest resort is 10,000 sq. ft. There are way to many factors in deciding what is best or needed. In New York sq. ft. prices are priced on a per month basis and in smaller markets they are priced on a per year basis. I pay just under $5 per sq. ft. for the 10,000 sq ft. space. I have other locations that are over $10 per sq. ft. per year. Number one factor is location, location, location. More later.

student of the game · 05-11-2002, 02:33 PM

Mr. Chunn,

Thank you very much. I understand that the lease rates for the space can vary widely from market to market....but what about the construction costs? On a "per square foot" basis, how much does it cost for the complete "buildout" of the store.

I may be using the wrong term, but by "buildout" I mean everything (construction, electrical upgrades, A/C, exterior signage) except equipment?

Someone told me it costs about $70 per foot to do the "buildout" of a larger store....4,000+ sqaure feet. Can that be right?

MJ · 05-11-2002, 03:41 PM

Ok that it MR CHUNN you are hired to negoiate my new lease!!!
Name your price!
MJ

Marty & Carol · 05-11-2002, 03:57 PM

We have three stores that are 2500 3500 and 4500 sq ft.

Our last store we spent 75k on Electric alone.

We do not put in anything under 800 amps three phase but the above example is 1600 amps 3 phase.

Location is worth the investment.

CAM needs to be considered also.[ This Message was edited by: Marty & Carol on 2002-05-11 16:00 ]

MJ · 05-11-2002, 07:15 PM

Mr. Chunn or M&C,
Is management fee "Standard" or can it be negoiated in most leases that are CAM w/triple net?
Mj

CHUNN · 05-11-2002, 09:19 PM

Of my five locations a 4500 sq. ft. does not have CAM but the others do. None are triple net.

student of the game · 05-11-2002, 09:27 PM

Thank you for the info M&C....what kind of "grand total" investment (excluding equipment) was the 4,500 sq ft store? I'm just trying to figure out how much per foot to budget for the next store. Not sure if I can do it...but was hoping to do a larger store.

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05-11-2002, 12:17 PM	#1 (permalink)
student of the game Join Date: May 11 2002 Posts: 7 Rep Power: 0	Until now, I have only built small to medium size stores...maximum of 2,000 square feet. There is a lot of talk about these bigger stores.....some up to 5,000 square feet or larger. How many square feet is ideal? How many total tanning rooms? What is the optimal electrical capacity in terms of total AMPS (three phase)? What is a reasonable cost per square foot to budget on a "turnkey buildout".....including everything (even electric upgrades, A/C, and exterior sign) except equipment? I'm sure there are lots of people who will benefit from responses from Robbie, Alex, and the others who have proven the success of the "larger store model". Thank you!! (I'm sorry if I offended anyone by asking for help. I just wanted some guidance, and a ballpark figure on the cost per square foot (excluding equipment) for building a larger store.)

05-11-2002, 01:40 PM	#2 (permalink)
CHUNN Join Date: Oct 17 2000 Location: Huntsville, AL Posts: 3,819 Blog Entries: 1 Rep Power: 25	Our largest resort is 10,000 sq. ft. There are way to many factors in deciding what is best or needed. In New York sq. ft. prices are priced on a per month basis and in smaller markets they are priced on a per year basis. I pay just under $5 per sq. ft. for the 10,000 sq ft. space. I have other locations that are over $10 per sq. ft. per year. Number one factor is location, location, location. More later.

05-11-2002, 02:33 PM	#3 (permalink)
student of the game Join Date: May 11 2002 Posts: 7 Rep Power: 0	Mr. Chunn, Thank you very much. I understand that the lease rates for the space can vary widely from market to market....but what about the construction costs? On a "per square foot" basis, how much does it cost for the complete "buildout" of the store. I may be using the wrong term, but by "buildout" I mean everything (construction, electrical upgrades, A/C, exterior signage) except equipment? Someone told me it costs about $70 per foot to do the "buildout" of a larger store....4,000+ sqaure feet. Can that be right?

05-11-2002, 03:41 PM	#4 (permalink)
MJ Join Date: Jan 21 2002 Posts: 2,709 Rep Power: 23	Ok that it MR CHUNN you are hired to negoiate my new lease!!! Name your price! MJ

05-11-2002, 03:57 PM	#5 (permalink)
Marty & Carol Join Date: Nov 16 2000 Posts: 175 Rep Power: 24	We have three stores that are 2500 3500 and 4500 sq ft. Our last store we spent 75k on Electric alone. We do not put in anything under 800 amps three phase but the above example is 1600 amps 3 phase. Location is worth the investment. CAM needs to be considered also.[ This Message was edited by: Marty & Carol on 2002-05-11 16:00 ]

05-11-2002, 07:15 PM	#6 (permalink)
MJ Join Date: Jan 21 2002 Posts: 2,709 Rep Power: 23	Mr. Chunn or M&C, Is management fee "Standard" or can it be negoiated in most leases that are CAM w/triple net? Mj

05-11-2002, 09:19 PM	#7 (permalink)
CHUNN Join Date: Oct 17 2000 Location: Huntsville, AL Posts: 3,819 Blog Entries: 1 Rep Power: 25	Of my five locations a 4500 sq. ft. does not have CAM but the others do. None are triple net.

05-11-2002, 09:27 PM	#8 (permalink)
student of the game Join Date: May 11 2002 Posts: 7 Rep Power: 0	Thank you for the info M&C....what kind of "grand total" investment (excluding equipment) was the 4,500 sq ft store? I'm just trying to figure out how much per foot to budget for the next store. Not sure if I can do it...but was hoping to do a larger store.

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