BLS & Co. crafted land use and community engagement strategies to assist Hercules with the disposition of 2,100 acres of brownfields in New Jersey.
BLS & Co. crafted land use and community engagement strategies to assist Hercules with the disposition of 2,100 acres of brownfields in New Jersey. The engagement involved strategies to reposition and/or redevelop four sites on a portfolio basis, quickly enabling sale of the most market-ready property to generate the resources needed to pursue the redevelopment potential of the longer-lead sites.
BLS & Co.'s efforts focused on an affirmative, inclusive community/intervenor strategy to define the benefits associated with redevelopment, including demonstrating the fiscal and economic impacts of a market-based approach to re-use of the sites. BLS & Co. also managed an RFP process to identify and select the most qualified bidders for the sites, then managed the transaction that resulted in the sale of a 100-acre property in Burlington, New Jersey which has since been redeveloped with over 1 million square feet of modern warehouse space.
Our services are built upon two distinct directions:
Exit Strategies: For companies and institutions hoping to shed soon-to-be surplus properties or legacy assets, we conceptualize and help implement the necessary land use approvals. When appropriate, we also recommend and create special incentives to attract developers and end users. Our approach is to conceptualize plans to identify a property's highest and best use, then to put in place a set of strategies that will prepare a property for redevelopment or marketing – creating value and liquidity.
Market Entry Strategies: For companies executing location decisions, we analyze the location-differentiating variables among competing properties (including utility and infrastructure assessments performed by our Sugarloaf Associates™ affiliate) and guide clients through state and local approvals. In doing so, we coordinate our efforts with our clients’ real estate advisors. We also align the facility/site acquisition process to preserve the value of available economic development incentives.