Haddow & Company has extensive experience with highest and best use studies of land. These studies typically involve four basic steps: 1) economic and demographic overview at the macro level; 2) property analysis, often performed in conjunction with a land planner, that evaluates zoning, utilities, physical attributes, ingress/egress, and other salient factors; 3) supply-demand analysis of relevant sectors of the real estate market; and 4) assessment of land use alternatives and formulation of a strategy tailored to the client’s objectives. To view an illustrative example, please click here.
A sample of recent highest & best use studies we have conducted includes:
Coro Realty Advisors owned an older apartment complex situated on 18.66 acres along Collier Road in intown Atlanta. Given the property’s age and rising land values, the owner was considering redevelopment. Our role was to help examine the different options available to them.
TIC Properties, LLC assembled a prime site in downtown Greenville, South Carolina, which had been enjoying a tremendous renaissance. We were asked to evaluate the property’s highest and best use in order to help formulate the optimal development strategy.
Bowden Realty, a brokerage firm in Phenix City, Alabama, owned 131 acres of undeveloped land comprised of six tracts. The land was located on U.S. Highway 80 at a new interchange with River Chase Drive, and much of the property fronted the Chattahoochee River or Lake Oliver. Our role was to help formulate the optimal development/investment strategy.
Fenner Dunlop, a leading manufacturer of conveyor belts, was contemplating the possible relocation of one of its plants, which occupied 13.6 acres near downtown Avondale Estates, Georgia. Our role was to determine the property’s highest and best use in order to gauge its potential disposition value.
TMW Real Estate Group asked us to evaluate the highest and best use of a 14-acre tract on Perimeter Center Parkway that was improved with a 223,091-square-foot office building. With the assistance of a professional land planner, we explored alternative development/investment strategies for the surface parking lot.
Carter & Associates was considering the purchase of a 306-acre tract of land in Knightdale, North Carolina, just outside of Raleigh. The circumferential highway had just been extended through the property and we were hired to help them evaluate the property’s development potential and highest and best use.
