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Mixed Land Use Brainstorm!!!
Hey guys, I thought I would come over here and ask for some ideas on new land use for a property my Father owns in south florida.. Here is a little background history.
He has owned the property for close to 10 years, it is about 2 miles from downtown fort lauderdale florida, on a major intersection. It has been warehouse bays for the last ten years with very low vacancy and is very affordable. However, the area has really started to grow and is surrounded by retail space, stores, condos, apartments etc, which is great, however his vacancy is starting to grow higher each month simply because of the fact that alot of small business are moving theyre storage needs five miles west to get way cheaper rent. We have thought of changing the use of the land and creating store front/mixed use etc. (stores on the bottom, lofts/condos on top) but the real estate market down here is still somewhat weary although it has picked up some. Another thing I was thinking would be a huge gym/supplement shop connected with apartments/stores etc. This would really fit in with the area as south florida is very health/fitness oriented and with it being close to downtown without the hassle of downtown parking it could be a great amentitiy for people traveling to work there.
Anyhow, the use he is getting out of the land now is really selling himself short and in the next few years is going bite him in the butt. Anyone have any ideas?
Thanks in advance!:thankyousign:
-Jami
Hey guys, I thought I would come over here and ask for some ideas on new land use for a property my Father owns in south florida.. Here is a little background history.
He has owned the property for close to 10 years, it is about 2 miles from downtown fort lauderdale florida, on a major intersection. It has been warehouse bays for the last ten years with very low vacancy and is very affordable. However, the area has really started to grow and is surrounded by retail space, stores, condos, apartments etc, which is great, however his vacancy is starting to grow higher each month simply because of the fact that alot of small business are moving theyre storage needs five miles west to get way cheaper rent. We have thought of changing the use of the land and creating store front/mixed use etc. (stores on the bottom, lofts/condos on top) but the real estate market down here is still somewhat weary although it has picked up some. Another thing I was thinking would be a huge gym/supplement shop connected with apartments/stores etc. This would really fit in with the area as south florida is very health/fitness oriented and with it being close to downtown without the hassle of downtown parking it could be a great amentitiy for people traveling to work there.
Anyhow, the use he is getting out of the land now is really selling himself short and in the next few years is going bite him in the butt. Anyone have any ideas?
Thanks in advance!:thankyousign:
-Jami
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