Eastshore Commerce Park is an industrial zoned tract of land comprising 182 net (244 gross) acres.  The park was created after Tampa Bay Water (TBW - the local water authority) purchased 484 acres for $7 million for plant operations.   Colliers Arnold consulted with TBW on the original purchase, and advised them in obtaining a development of regional impact (DRI) on the excess land.  This provided entitlements for over 3 million sf of industrial, 800,000 sf of office, and 57,400 sf of retail.  The site was master planned for storm water drainage, and had infrastructure of sewer, water, fiber-optic cable, and natural gas.  Development would require significant site work and installation of roadways.

Challenge

• Analyze and verify land values.
• Assess and understand complicated site and soil conditions.
• Comply with state and local filing procedures and deadlines.
• Maximize value while maintaining transparent public negotiation.
• Create competitive marketing environment.
• Substantiate and report all recommendations and activities.

Services Provided:

• Marketing and advertising
• Community relations and public testimony before governmental agencies
• Valuation and coordination with legal, engineering and environmental team members.
• Budgeting

Results:

After lengthy public review, reporting and compliance with governmental agencies, the land was sold to Hillsborough County.  The price for the sale on this portion of the site was $11.65 million.  This price, in effect, provided the agency with a fully functioning plant location and an additional $4.65 million from the sale of the excess land.

 back to top