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Acquisition of all 4 corners important to one Ohio developer

On Behalf of | Jun 7, 2018 | Commercial Real Estate |

Location is key in most Ohio business ventures. The right location can be essential to the success of the business. For this reason, the acquisition of the desired property is often the first step in business development and/or expansion.

One Ohio developer, Uptown Consortium, has apparently recognized the importance of location in its ongoing business development. In fact, it recently purchased a piece of property that was home to a Marathon gas station. However, it did not want the property for the gas station. In fact, the gas station has now been torn down and removed from the property.

In this particular instance, the developer determined that owning property on all four corners at this intersection was in the best interest of his business. The corner lot with the gas station was the final piece of this puzzle. Now that the gas station has been removed, the remaining pieces of the puzzle can be put in to place and his vision of a mixed use property featuring office buildings, retails stores and residential housing can become reality.

When it comes to property acquisition and putting all the pieces together to develop such a property, the Ohio entrepreneur can benefit by consulting with experienced legal counsel. There are often a number of factors that need to be taken into consideration. In addition to possible zoning and construction issues, there will be contracts that need to be drawn up and reviewed, negotiations which must take place and much more. In many instances, outside legal counsel can be instrumental in seeing the overall picture and helping to put it all together.


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