Purchasing industrial condo / flex industrial real estate with a handful of friends to form a private “clubhouse”

Hi all - looking for feedback on this idea my friends and I have been tossing around. We’re considering purchasing an industrial condo and forming / building out a “clubhouse”. Has anyone explored something similar to this? My primary concerns are around:

• Forming and managing the legal entity (though one of our friends is an M&A attorney and has experience in this space)

• Zoning laws

• Finances - I.e., Managing member dues, payments for utilities, mortgage, etc.

Also considering potentially finding a place to lease to test drive the concept, though I think we all find the idea of owning the property we’d be working with appealing.

Thanks in advance -