The City of St. Cloud engaged the IAG Commercial team to review and develop a new strategic plan for the Airport Business Park (ABP).
The Airport Business Park (ABP) consisted of an ownership group of several partners who were not all in agreement on the future direction of the park. The park had seen limited success over the last twenty years and was poorly located to capitalize on the growth in distribution and some manufacturing, who desired to be near interstate 35W. Making changes to the market positioning of the park required additional capital expenditures. The ownership group was not in agreement on if or where funds should be spent.
Led by IAG Commercial, WSB and IAG Commercial were tasked with delivering a clear: mission and vision statement, value statement, and strengths, weaknesses, opportunities and threats (SWOT) analysis. To accomplish this, the following activities were led by IAG Commercial:
1. Conducted a series of six stakeholder meetings with the ABP Partners, Local Government officials, and the Business Park Community including: area businesses, current tenants in the park, area real estate brokers, and area contractors and developers.
2. Developed and presented for agreement, the “highest and best use scenarios” to the ABP ownership group.
3. Provided property valuations over twenty years for anticipated best uses and potential tax base.
4. Recommended steps to implement the agreed upon best scenario.
5. Completed the strategic and implementation plan including rebranding, signage, and a new mixed use target market within ninety miles of the “regional business park”.
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