Finding Sites

Drake has a vast knowledge of selecting sites and negotiating the various components of a retail project. Selecting the right location and negotiating the right deal is critical to having a successful development. Drake has created a system for cataloging potential development sites and continually monitors those sites. Selecting the right site requires in-depth market knowledge and an understanding of traffic patterns, demographics, zoning, engineering, shopping trends, political environment, finance and countless other criteria. Drake believes this can only be obtained through experience and hard work. Drake takes great pride in its ability to negotiate deals with land sellers, tenants, contractors, consultants, city officials and buyers. Drake has learned to negotiate effectively by having the discipline to conduct detailed due diligence, an understanding of the fundamentals of the deal and incorporating past experiences into the transaction.

Building the Drake Way

Drake takes a very hands-on approach to entitling and constructing its projects. Drake’s philosophy on entitlements and construction is that they need to be intertwined with each other to create a successful project. Enormous value can be created or lost depending on how the entitlements are negotiated and how the plans are designed. Drake has developed systems for managing the consultants needed to develop project documents and the processes required to obtain approvals and permits. The majority of cost overages and time delays during construction can be attributed to poorly developed construction documents and poorly negotiated contracts with the architect and general contractor. Drake uses an interactive web-based platform to control its project documents, competitively bid each project and manages the consultants and contractors through the life of a project. Over the past 10 years of developing projects, Drake has formed strong relationships with qualified consultants and contractors who can perform up to Drake’s high standard of service.