Our extensive real estate development experience began in a very simple way. Dr. Cooper, a pediatrician, desired a 2,400 square foot office space. In their spare time Dr. Cooper and Abby were considering the process of building their practice in a single freestanding building on a single lot, they quickly realized the significant investment in time and ultimate cost they would incur. With little experience in the regulatory, financing and construction fields, they found themselves without available time or patience to manage the ever changing processes.
Dr. Cooper and Abby grew frustrated with the time and money they were using by managing the development process themselves. In addition they lost revenue within their practice, they quickly realized the expenses of building the small office was too great and exceeded their budget.
In 1990 the founders of Devreco, LLC proposed a solution: On behalf of Dr. Cooper and Abby, a larger parcel of land was purchased. Economies of scale were created by combining the planning, permitting, financing, infrastructure and construction costs into a larger facility. Ultimately the Coopers’ purchased their turn-key, move-in ready suite within a professional office condominium park; start-up and long-term operational costs were reduced for our client.
The Coopers were able to save significant time and money, continue to focus on their core business functions, and not become distracted by construction and development. They no longer had to stumble through the complex and confusing process of real estate development.
This new model of turn-key development, a full service real estate solution, was new to rural areas in 1990. Our solution soon became widely recognized and accepted in the Delmarva medical and professional communities.
Doctors and professionals began to rely on our very simple and quick solution to their space needs. We offered a flexible design-build, fast-track approach and allowed our clients to choose a lease, a purchase or a lease with a pre-negotiated option to purchase.
Our services stretched beyond the traditional builder/contractor business model of just constructing a building. We combined cost effective design, economies of scale, vision, planning, streamlining regulatory processes and ease of entry into a new facility to add increased value to consumers and clients. Months, if not years, were shaved off of the development process. All while allowing our clients complete design and acquisition freedom.
Most successful doctors and professionals maximize their financial efficiencies in their career, not in real estate development; we have proven value again and again to our clients. Our extensive experience allows busy professionals to not miss opportunities within their core business by avoiding wandering around in the development and complicated regulatory process. Allowing us to implement their vision and space needs in an easy, efficient, cost effective way, creates simple economic solutions.