Land Redevelopment

After being interviewed by the property owner and competing with four other firms, we were hired to represent a restaurateur that had retired, moved to Florida, and was selling all of his many real estate assets.

After completing the market study, the owner agreed with us that the best and highest use for the property was a redevelopment and completing a split of the 2.75 acre parcel. Taco Bell purchased the subsequent 1 acre out-lot and a local developer purchased the balance of the property for a retail strip center. This strategy allowed the owner to realize a significantly higher sale price than selling the property as one parcel.

Transaction and consulting services included; Best and Highest use study, Direct marketing, Letter of Intent and Purchase Agreement negotiations, negotiating cross-access, cross-parking and shared pylon agreements satisfactory to both buyers, assisting with the re-plat of the property, working with the engineers and architects on the site lay-outs for each of the buyer’s buildings, traffic flow and parking configurations, working with the title company on the simultaneous closings.