In Focus: The Challenge of Finding Improved Land
15 Oct 2021
News
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.
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Royse City is home to a growing number of young professionals and families. The average age within the city is 32 years old, and the educational attainment is higher than the national average. This has led to a population that is active, educated, and earns around $90,000 per year - far more than the national average. With 15,000 new homes in some stage of development, the city’s growth is expected to continue for some time. As it does, investments are being made in parks and recreation and the local school district.
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