Bacall Development actively seeks ‘opportunity’ real estate investments, both existing developments and vacant land. Existing real estate opportunities that have enough ‘upside,’ or ‘value-added’ potential, typically have not been managed properly, causing the lack of value that it otherwise should have. Typically, we seek to add value by renovating and updating a property’s appearance and image, and redefining its marketing and pricing, in order to increase occupancy and maximize income.
Sometimes, an existing real estate development has become functionally obsolete, or is not being utilized by the best and most logical use, and will require complete redevelopment and all new tenants. Vacant land investments typically are a function of master land use plans and zoning, market demographics, and must be anchored by a national or major tenant to minimize risk and make the project feasible.
Bacall Development uses its experience and intellectual property of its principles, staff, and other experts, to perform the most thorough due diligence of the property and financial analysis of the investment. Beyond the rough economics of any given development, we take a close look at all relevant factors, such as master plan and zoning changes, planned municipal projects that will have an economic impact, mix of surrounding businesses and competition, market demographics and trends, building permit, compliance, and certificate of occupancy histories, as well as real estate taxes and special assessments.