Extensive Experience Handling Complex and High-Profile Land Transactions
In conjunction with the Rayburn Tucker Company, represented BMC West to sell a 19-acre site at the corner of Steck Avenue and Shoal Creek, just east of MoPac Expressway. The site was previously utilized as a lumberyard and had a light industrial zoning, which could have limited the value of the site in this location.
To maximize the value of the site, it would need to be rezoned, which would require public/neighborhood input. This would have been a problem at the time considering all of the issues encountered by the Lincoln Property Company in redeveloping the Northcross Mall within the same neighborhood. After preparation of the due diligence materials for the seller, we decided to target automobile dealers to maximize the price without triggering a rezoning case. This enabled us to close the transaction much quicker and yield a price in excess of what was originally anticipated.