Client: Strong Capital Management, Inc.
Strong Capital Management, Inc. retained GG+A to conduct market research to identify a development program and strategic marketing plan for its corporate land holdings of approximately 177 acres. Based on field research, interviews with real estate brokers and developers, demographic and economic analysis, GG+A made an assessment of present and likely future supply conditions in the market area for office and retail space and compared these conditions to GG+A’s forecast of demand for office and retail space. In light of GG+A’s assessment of the competitive strengths and weaknesses of the site, GG+A estimated the amount of market area demand for office and retail space the Strong site can be expected to penetrate. GG+A synthesized the results of the research and analysis to reach conclusions about the types and scale of demands the Strong site can effectively serve; the proportion of the site that should be allocated for alternative land uses; the expected timing and amount of absorption of land for alternative uses; and estimates of obtainable rent and land pricing for alternative uses. GG+A also laid out a marketing program for penetration into market demands and long-term value creation including recommendations on the package of amenities and services, lot sizes and product types and character the project should be positioned to have as well as identification of target user niches and marketing strategies likely to appeal to these niches.
Strong Capital Management accepted the recommendations and subsequently retained GG+A to conduct a residential market analysis, perform investment and feasibility analysis of alternative development options and lead a team of architects, planners and traffic engineers to formulate a locationally-specific master plan. GG+A also provided ongoing marketing and negotiation support for land sale and office space leasing transactions.
Gruen Gruen + Associates 