Case Studies
Site Selection & Economic Development Services

Industrial Re-Use

In Dade City FL. The largest employer, Lykes Pasco, a juice processor, had shuttered
certain operations leaving 100,000 SF of warehouse empty.  By 1999 the firm had
been sold to Pasco Beverage and the new owners were more of a community player
and were interested an incubator concept with the vacant space but a change in city
management halted the project. Move forward to 2002, the owners decided to market
approximately 300,000 square feet of the 1,5 million square foot plant. The buildings
were older but had been well maintained, had rail access with dry and chilled
capability. As Vice President/Industrial Services at Grubb & Ellis, we placed the
property for sale with an excellent marketing package that evolved the property to a
multi tenant industrial park for users from 5,000SF to 50,000SF. The property was
sold in 2003 at a below market rate that offered aggressive rental structure for
occupants. The project was a finalist for the  Tampa Bay Bushiness Journals Best Real
Estate Deals.

Portfolio Alignment

Legation Street was recently contracted to perform a real estate optimization study for
a multi unit firm in the aggregate industry. Over 100 units were involved in this study
to determine what parcels to sell, acquire or mothball. This project is currently on going
in an effort to optimize real estate costs and align real estate with firms core business.