Land Entitlement:
The company purchased the property in 2020 with an investor. The original property was 2.2 acres of CRO (Commercial, Residential, and Office). Hank Duckworth (Investor) and Willem (owner) were able to take it through the city and improve the land use to commercial and get a PUD Planned Unit Development approved to increase the zoning to allow for commercial warehouses with more commercial uses than the CRO zoning designation. We further developed the land with engineering for other entitlements and ready to build. Hank Stayed on to build the warehouse for Hunger Fight a local Non Profit.
The property was purchased for $150k with about $25k in expenses and sold for $700K.