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Intracorp
Industry expertise
A recent up-coming project shows the California team at their best , as Brad details : “ We ’ ve recently closed on a site in San Diego that will be a very significant project for the business . It ’ s on the site of a 150,000 square-foot office building , which we need to demolish completely to build 92 new townhouses . We did the transaction for that project , beginning to end , in about 60 days , which is an incredibly fast turnaround for a deal of this magnitude . We have favorable zoning in place , and good financial partners who are willing to invest in the project , so it all lines up .
“ Being nimble is one of the main reasons we ’ re able to close on sites such as this one . We ’ re a very entrepreneurial group , and we ’ re more than capable of moving quickly if the situation demands it . The wealth of industry experience within the team allows us to analyze things quickly . We prioritize really digging in and understanding the concept from all sides , so that our investors can feel confident in the business plan we ’ ve laid out .” moving parts and things get done more quickly . Additionally , interest rates are rising , which makes it very difficult to operate office buildings , so that creates opportunities . The same can be said for retail developments - as more people shop online , there are more spaces opening up for us ,” he outlines .
Changes in the commercial spectrum create a lot of opportunities for Intracorp to revitalize older underutilized properties . As Brad concludes : “ Our work is about turning spaces that are beyond their economic life into vibrant neighborhoods . We ’ ll strategically focus on these areas moving forward , not only due to the financial
opportunities that they offer , but because it ’ s very exciting to think that we can give these properties a new lease of life .” ■
www . intracorphomes . com
Transforming neighborhoods
External challenges are inevitable in the construction world , but they are no match for Brad and his team . “ Currently , we ’ re trying to overcome the fact that city processing has slowed down a lot . City staffers are overworked and facing huge demand . On top of that , they ’ re experiencing record high turnover , with people moving from city to city , which makes processing deals difficult from a timeline perspective .
“ Diversifying and working on in-fill properties in suburban regions is one way we ’ ve been able to circumvent city processing delays . A lot of the owners we are dealing with in the suburban market are ‘ mom and pop ’ operations , rather than large institutions . There ’ s a lot fewer
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