What Does a Commercial Developer Do?
A commercial developer is responsible for the purchase, building, management and leasing of commercial real estate. Commercial real estate is a term used to describe any building or property purchased for the purpose of creating profit. This type of property includes malls, stores, shopping centers, industrial property and office buildings. A commercial developer can be either an individual or a business. The role of the developer is to coordinate the use of space for business purposes. In the purchase phase, the commercial developer may decide to purchase a plot of land or an existing building. The developer is responsible for confirming that the land is zoned for commercial use before purchasing it. Although a submission can be made to change the zoning status, this process is time consuming. The purchase is typically financed with a mortgage on the property. In a typical arrangement, the commercial developer purchases a plot of land. The developer obtains financing to build an offic
