Retail - Winston Salem
A highly successful project involving the acquisition, redevelopment, and strategic resale of key parcels. The project highlights our ability to adapt to shifting market dynamics and maximize value through innovative solutions and effective partnerships.
Key Highlights:
Initial Purchase: Acquired 2.25 acres of land with a flexible agreement allowing time for rezoning and permitting.
Strategic Pivot: Shifted focus from retail development to automotive-related uses in response to rising construction costs and changing market conditions.
Simultaneous Closing: Purchased the full 2.25 acres and successfully sold a portion of the property to a car wash operator, realizing a substantial profit.
Adjacent Property Purchase: Acquired an additional 0.52 acre parcel to address stormwater and access challenges, positioning the site for future success.
Resale Success: Sold the 0.52 acre site to an oil change operator after completing rezoning and permitting, ensuring a profitable outcome.
Final Sale: Concluded the project with the sale of the remaining property to a tire store operator, completing the full development cycle.
This project underscores our expertise in navigating complex real estate opportunities, delivering significant returns, and fostering partnerships that benefit all parties involved.
