Ruckel Properties, Inc. (FL) – Marking Analysis and Strategic Recommendations
ChallengeRuckel Properties, Inc. (RPI) is an established residential developer in Northwest Florida (Niceville/Destin area) that has had a small degree of success with commercial development. To help the firm become more active in the office and retail market, RPI hired TIP strategies to evaluate potential development opportunities for 15 properties. RPI selected TIP based on the strength of an economic development strategy our consulting team had recently completed for Northwest Florida which highlighted existing demand for office space in the region.
ApproachRealizing the potential opportunities for commercial development on RPI sites, our analysts prioritized the firm’s properties with the best potential for development and indicated the type of use that would be the most appropriate for each site based on our market analysis. For each site, we provided recommendations for the zoning, tenant type, and lease/sale pricing information. In addition, the team developed marketing brochures for six properties and developed new graphics for RPI’s property signage.
OutcomePrior to completion of this work, RPI had no plans for developing their remaining properties. As a result, marketing had not been a priority. TIP’s work for RPI and for the Northwest Region suggested the time was ripe for RPI to begin marketing and planning for the significant office and retail demand. Armed with knowledge of the market, internal brokerage capacity, and a plan for developing the properties, marketing has become a greater priority. The company has already had success with several major retailers responding to the marketing flyers developed by TIP Strategies as a result of this work.