296 + Acres of Commercially-Zoned Land
This property was held in trust by a national bank. It was bound by commercial development, residential development, a railway track, storage tanks, a small county airport and a hazardous oil plume in remediation. The only vehicular access was through a road bisecting the adjacent commercial development. The owners had a recent appraisal of the property, and an offer in hand for one portion, but needed a strategic disposition plan aimed at maximizing the property’s value through thoughtfully sequenced sales. LandVest was hired to complete the assessment.
LandVest’s analysis addressed issues concerning a range of feasible development and disposition options, including: a determination of highest and best use; whether optimal value is best realized through sale of portions of the property or the sale of the property as a whole; whether portions of the property can be sold without diminishing the value of the retained land; the specific planning and timing issues involved in subdividing the property to allow a sequence of sales of subdivided parcels; and the prices recommended for an optimal sequence of sales.
LandVest provided the bank with sufficient information to make a series of informed and prudent disposition decisions for a complex property in a unique and challenging market setting.
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