Commercial Redevelopment and Repurposing

In today’s real estate market, unlocking hidden potential by repositioning or repurposing distressed real estate is one of the most profitable and satisfying endeavors in real estate.

One important benefit of redevelopment is the ability to help economic revitalization. Developers can generate employment opportunities, new businesses and improve the surrounding community’s economic health. Repurposed properties can also induce urban renewal, and a sense of pride and revival among residents.

Two more benefits are- Increased Property Values- investors can favorably increase property values and impact the surrounding area and -Environmental Sustainability- repurposing or repositioning distressed real estate is an environmentally responsible choice.

THAT IS WHERE LA LIFE DEV COMES IN

Repurposing of distressed properties requires creativity and commitment. It also requires a deep understanding of the communities that the building lives in. Different stakeholders—from redeveloper to owner, from local government to creditors —must work together toward a common goal. An adaptive use requires vision, a keen understanding of the local marketplace, and the marketing expertise to find a different category of tenant.

The total amount of distressed real estate is continuing to climb, and sales of distressed commercial properties have begun to rebound.  Some entrepreneurial owners are developing alternative uses or transitional leases for empty shopping centers, foreclosed condominium complexes, abandoned auto dealership buildings, vacant big-box stores, and other financially struggling properties.