CE Course: Development 101 and 102
Wednesday, February 15, 2023 (9:00 AM - 4:00 PM) (CST)
We are offering two CE Courses - Development 101 & 102 - taught by Cinco Cocke. You can choose to take one course or both upon registering. Each course is 3 hours of CE for a total of 6 hours if both courses are taken. There is a $20 discount if you choose to take both.
Instructor: James "Cinco" Cocke, Jr
Cinco grew up in the construction industry; the Cocke family owned a ready-mix concrete and concrete pipe company in South Texas for almost 50 years. Including 8 years at CBRE in Austin, Mr. Cocke has been engaged in commercial real estate sales, development & construction in Texas for 25 years, constructing over 600,000 square feet of office and medical facilities area-wide.
Approved for 3 hours of C.E. by T.R.E.C. - Class Number: 44060
OBJECTIVE The objective of the course is to provide licensees with an overview of how developers evaluate land sites for potential development projects. After taking this course, commercial and residential agents will be better prepared to win listings on raw land and discuss, in intelligent detail, the comparative characteristics of land sites with buyers and sellers. Finally, the agent will be equipped to target developers with land sites which match up with that developer’s land acquisition needs and criteria.
Topics Covered Include:
- Ground Up versus Redevelopment: how do they differ?
- Three components of development costs: Land, Sitework & Building.
- Why is Sitework sometimes so costly?
- Site Due Diligence: what are developers looking for and what are they trying to avoid?
- The Development Team: who do you need and when?
- Site Feasibility Checklist: make sure you complete all the tasks on it.
- Sitework & Office Building construction cost budget: a real-world example.
- General Contractor’s pay application & lien waivers: where the rubber meets the road.
- Case Study #1: Development Proforma for a 130,000 sq. ft. industrial bldg.
- Case Study #2: Development Proforma for a three-building office project.
- Using Commercial R.E. websites to find & evaluate potential development sites & listing
Approved for 3 hours of C.E. by T.R.E.C. - Class Number: 44520
OBJECTIVE The objective of the course is to provide licensees with the working skills of commercial real estate development. After taking this course, commercial and residential agents will be able to communicate effectively with developers on potential development projects, win more land listing pitches, sell more land listings and/or earn attractive fees by providing development project management services.
Topics Covered Include:
- Site Feasibility Checklist
- Site due-diligence tasks and costs.
- How does Site “A” compare to Site “B”?
- Designing the Project: Civil Engineering, MEP, Landscape design + Architecture, including Structural engineering.
- Development Proforma. We need:
- Market Research: what are comparable lease rates? Cap rates? Municipal issues?
- Construction cost estimates.
- Soft costs; they can add up.
- Market standard lease commissions.
- Market standard tenant concessions.
- Calculating the Yield on Cost. Can we get there in this market?
- Development financing aka the “Capital Stack”:
- Construction loan terms.
- Equity sources & their target Internal Rates of Return.
- Permanent loans.
- Development Strategies: Build to Suit? Develop & Sell? Develop & Hold?
- Splitting Profits: Preferred returns and then a “waterfall”.
- Lease terms: Full service gross lease? Triple Net?
- Property Management issues after tenant occupancy:
- Who maintains what?
- Insurance: liability & casualty.
- Deferred maintenance budget & funds.
5900 Shepherd Mountain Cv, Bldg 11, 3rd Floor
Austin, TX 78730 United States
- Check-in: 8:40 am
- Course: 9am - 12pm - strict start time for CE
- Meal: Light Breakfast
- Check-in: 12:30 pm
- Course: 1pm - 4pm - strict start time for CE
- Meal: Box lunch served before class