CHALLENGE
ICO was hired to evaluate, bring to market and sell our client's ownership position in a 70-acre tract that was already platted into a subdivision of 145 residential lots in Needville, Texas. Our client has purchased the land intended to develop the subdivision into lots but stopped prior to moving forward due to an economic recession.

STRATEGY
We evaluated the development’s market opportunity, pricing and determined if we wanted a short number of months, the market would respond more favorably. The tract was engineered well and had already taken conducted a thorough development analysis on the tract to best understand its best attributes and its inherit challenges. Our development analysis includes checking: pipelines, oil wells, floodplains, wetlands, thoroughfare maps, drainage outfall, detention requirements, easements, power, utilities, water, sanitary sewer, zoning, deed restrictions, planning and zoning, topographic, soil makeup and other items.

Next, we created an investment model that supported the tract considering all its best features and working around its challenges to arrive at a highest-and-best selling strategy to yield the highest sale prices and the highest return on investment possible.

Then we created a custom marketing strategy to compliment this investment model.


RESULTS
We were able to sell the 70 acres of 145 lots to an established, credible developer with a long history of successful projects who developed it into an Industrial Business Park.