*
Recognize need for new operations facility two to three years in advance *
Hire the most competent, impartial consultant *
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Complete detailed strategic retail branching/operations facility plans *
Understand the market and long-term projections *
Understand all delivery and operations occupancy alternatives and costs *
Develop site/building selection criteria that welcome all opportunities *
Engage a high experienced commercial real estate agent *
Determine the cost of new facility options *
Complete comprehensive due diligence of each opportunity *
Review redevelopment ideas with local jurisdictions for approval *
Discover all rehabilitation costs *
Develop and analyze a rehabilitation/occupancy cost estimate *
Determine the marketability of vacant space *
Determine availability of adjacent land/buildings for future expansion *
Calculate total cost of occupancy and how it affects your bottom line *
Review the real estate contract with attorney and facility consultant *
If all is in order then purchase the property Source: CUES Credit Union Facilities Strategies, Planning and Management: Volume 2
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