Why You Should Leverage Your Commercial Buildings with Local Communities
In 2021, Taylor Independent School District and Samsung collaborated to get the tech titan to build its new $17 billion plant in the area. By putting money into the community and local school district, Samsung can save more money on taxes.
To address any concerns about a large-scale commercial business impeding residential communities, Samsung focused on schools and how to funnel an internship program specifically for students in the area.
When you’re considering a large scale new commercial construction, there are several factors to consider – primarily how this will affect the local community.
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Investment Analyses Allow You to Dig Deep
Generally, an investment analysis is a broad term for many different methods of evaluating commercial investments, industry sectors, and economic trends. This is best to decide the risk of building a large-scale commercial property in the community as well as price movements.
Investment analyses and valuation play major factors when deciding if this investment is the right fit for your project and how your project will perform in the market.
Valuation is best secured with a real estate partner than knowing the area better than anyone. Titan Valuation determines the economic value of a real estate investment and possible income from the tenant company.
Our valuation services include the following:
- Appraisal Consulting and Expert Witness Testimony
- Data and Information Analysis
- Due Diligence Analysis
- Feasibility Studies
- Portfolio and Estate Valuation and Consulting
- Sales and Rental Data Analysis
- Subdivision Absorption Studies
- Area and Neighborhood/Demographic Analysis
- Discounted Cash Flow Analysis
- Expert Witness Testimony and Litigation Support
- Highest and Best Use Analysis
- Real Estate Tax Valuation and Consulting
- Site and Property Location Analysis and Consulting
- Supply and Demand Analysis
See Our Guide: Essential Commercial Real Estate Terms to Know
Giving Back to the Community You’re Building In
To avoid negative backlash from the new community you’re settling into, you should make every move possible to use your development as a benefit to the area.
Connect with local government and powerhouses in the area and ask about their concerns. Once you’ve unraveled the anxieties surrounding your project, you can strike a deal to meet their needs. You can also go the simpler route of offering discounts on your products or services to essential residents like doctors, teachers, police officers, etc. once the development opens.
According to Biz Journals, businesses should adopt a servant mentality and first focus on contributing to the region as much as they can. This servant mentality to the local community allows for public approval of the development and long-term success of the tenant company.
One way you can fully leverage your development to the best advantage is partnering with a real estate expert.
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Partnership with a Real Estate Expert
Titan Real Estate offers modern commercial appraisals with a team-based approach.
You’ll get quick, exact results that will help you best decide how to leverage your large-scale commercial development to your community.
Contact us today to decide if you’re making the best move for your project.