Cities change, businesses relocate, land values fluctuate. Sometimes these changes increase land value and create new opportunities for businesses and land owners. Perhaps your Industrial land that once sat on affordable land on the outskirts of urban areas and towns is now at the edge or center of a vibrant thriving urban area where developable land is scarce. Or maybe the family business has been sold or has moved out of state, leaving vacant buildings in a “shrinking” city or region. Maybe your family has deep political, social and economic ties to your community or perhaps everyone has moved on to other places. Some sites may be brownfields that require environmental cleanup. What are the family’s options? How can you move forward to redevelop? Sell? How do you determine if anyone would be interested in developing, or buying the land or working with you? What are first steps? How to do you ensure you have all the information needed to make the best possible decision to maximize value and reach other goals?
Fairsted Advisors takes a holistic approach to your story. Industrial and Brownfield Redevelopment/Disposition can be complicated and long-term. Families that have extensive experience in property management and operations may need assistance with redevelopment and/or disposition options. We explore the political landscape and investigate the current market for new uses, identify possible partners and financing sources and look for hidden value in placemaking opportunities and current trends. We can help craft a strategic plan that acknowledges family resources, capacity for the project, and risk tolerance within the political, economic and market conditions.