Colliers Arnold worked with client to locate and acquire a suitable site for development of a mixed-use commercial center. 

Challenge

• Seek a site that was suitable in location, size and zoning that was available to develop for mixed-use commercial;
• Overcome the Seller’s delayed decision-making process;
• Establish exact details of property transaction;
• Overcome flood plain mitigation issues;
• Overcome wetland compensation issues;
• Overcome size discrepancies and omissions;
• Overcome price renegotiations;
• Determine target market disposition profile; and
• Determine DOT condemnation situation.

Services Provided

• Established Site development criteria and requirements;
• Identified matching sites for consideration;
• Prepared offering packages for selected sites;
• Met with Client to discuss merits of chosen site;
• Coordinated Letter of Intent presentation;
• Implemented negotiations of business points to contract;
• Assisted in final legal contract negotiations;
• Coordinated due diligence process with engineer and attorney for  Buyer and Seller;
• Prepared overview of market study and user identification for Buyer;
• Coordinated Buyer/Seller meetings for due diligence; and
• Implemented final price negotiations.

Results

As a result of Colliers Arnold’s detailed database of large tracts - planned and/or available - for mixed-use development, a select list was prepared, presented and reviewed, which resulted in the selection of the 80-acre Saddlebrook Village West site.  Our work included coordinating with Seller’s broker the dissemination of information, presentation of the LOI, the negotiation and finalization of the Purchase and Sale Agreement, and the implementation of the due diligence process with the engineer and attorneys for the Buyer and Sellers.  We also assisted in the procurement of critical information regarding the final site delineation, wetland and flood plain issues, storm drainage concerns, and DOT condemnation proceedings.  Studies were also conducted regarding the profiles of potential target market users.  We are also involved with the eventual resale and disposition of the developed parcels.

Sales Associate:  Dennis P. Bush, Colliers Arnold

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