The Challenge of Finding Improved Land
Friday, October 22, 2021
Across the nation, finding well-positioned, developable land with utilities and infrastructure has become almost impossible in some areas. Just about all of it has been scooped up by hungry buyers. Competition for land zoned for industrial/warehouse development is particularly intense.
Owners with any inclination of selling have already done so, or their land is under contract. For the owners still holding onto their land, the question is, what will entice them to finally sell? Buyers would be wrong to assume it’s all about price. The market has reached a remarkable level of efficiency when it comes to pricing, and developers know exactly how much they’re willing to offer for a piece of land based on construction costs and lease rates.