We understand that an owner's goal is to create additional value for their property/properties. In order to understand the best way to maximize the value of a property, The Hutensky Group develops a strategic plan.
In the strategic planning process, we expect to answer the following questions:
- What improvements can be made to the property in its present configuration to increase value? These might include lease buyouts and/or cosmetic enhancements combined with a re-leasing program.
- Can the property be expanded or redeveloped to add value?
In answering each question, we will provide an estimate of project income that might be achieved, a discussion of the major feasibility issues involved including possible physical and regulatory restrictions, and a projected level of additional capital investment by the owner necessary to achieve this projected income.
The strategic plan will contain the following components:
- Market Work. We will complete an in-depth market study and will completely analyze the area's retail markets and the strengths and weaknesses of the competitive properties. As part of this work, we will compile a Major Use Survey that details the major uses in the market, retail or otherwise, and highlight those uses not in the market that might be possibilities for this property.
- Property Study. We will analyze the strengths and weaknesses of the property and the physical and jurisdictional restrictions on the existing configuration and possible reconfigurations of the site.
- Demographic Research. We will compile and analyze the demographic make-up of the property's market and research customer traffic patterns.
- Physical Plant Review. We will study the existing structures in place on the property as to conditions and needed improvements.
- Site Layout. We will explore possible alternative layouts for the property, taking into account existing massing as well as site and market limitations.
- Tenant Canvassing. We will contact a wide range of potential users at the site and solicit interest as to potential lease terms using our extensive national, regional, and local contacts.
- Pro Forma. We will provide a pro-forma income and cost estimate for each scenario considered.
The end result of the strategic planning process will be a report to the owner that includes a recommendation together with cost/benefit analysis of the best way to add value to the property.
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