The Third Dimension
The Development Matrix is presented in a two dimensional space. However, there is a third dimension that is critically important. That is, the type of product being developed, as illustrated in Exhibit A.1. Just as no one can do everything in the two-dimensional matrix, no one can be an expert in all types of real estate products. Each product types requires special construction, marketing strategies, and political knowledge and skills.
The third dimension can be visualized as a cube (Exhibit A.2) in which the Stages, Tasks, and Property Types are all related.
For the purpose of this handbook, some examples of real estate product types are as follows:
- Major or multi-tenant- Central Business District
- Single or multi-tenant - Suburban
- Single tenant -build to suit
- Medical office
- Other specialized office uses
- Regional shopping centers/malls
- Neighborhood centers
- Strip centers
- Specialty centers
- Discount Centers
- Heavy industrial
- Light industrial warehouse
- Research and Development
- Full service
- Limited Service
- Extended stay
- All suites
- Country clubs
- Sports complexes
- Some combination of the above.