Turn Around for Land?

There was a time when a Commercial Real Estate Broker could make a decent living selling nothing but land.   These days there has been so little Development that there has been very little demand for land.   As noted in my most recent KCREA 3rd Quarter Review, the little land which has sold has largely been smaller parcels which are not ready for commercial development.  

Lately, however, I have noticed lately that we are begining to have some interest in land again.   Consider the following:

• Beginning in the Summer, I had some calls on some land that I have listed next to Jefferson Mall.  
• I had some brokers calling who were working with some restaurants looking for possible sites in the county.   
• Another site in the Jefferson Mall area is beginning development for what is rumored to be one big box retailer and 2 or 3 stand alone restaurants. 
• I had a call from a broker working with an Apartment developer and an Assisted Living developer looking for sites.   
• Zappos in Bullitt County reportedly is looking at a couple of 100 to 150 acre sites for their expansion

Although things are still a long way from where we were a few years ago, I presently have offers on two of my land listings.   I'm not sure that we have seen enough activity to call it a trend but at least there are some hopeful signs that a turn around in land could be coming.

By the way, if you need help with Land or with any other aspect of Commercial Real Estate, please give me a call.  I work with Buyers, Sellers, Landlords and Tenants with Office, Industrial, Land, Investment and Retail Properties.   I am licensed in Kentucky and Indiana.     I would love to help.

Have a great day, everyone.   Thanks!

David

David W. McCoy
Associate Broker
Commonwealth Commercial Real Estate
10444 Bluegrass Pkwy
Louisville, KY  40299