MilleniuM Real Estate Advisors was engaged by the Joint Powers Authority to complete a re-use study for specific land sectors / activity nodes within this 26,000 acre former military base. The assignment was multi-leveled in its requirement to look at all economic growth potential on the sites.

Based on the demographic and economic data, several key issues came to light. One was the market demand for an active retirement community, which was documented and included in the plans. Light industrial and general office demand was also identified based on 10-year forecasts from state, regional and federal sources. Because of its long history as a training facility, McClellan is and will continue to be attractive to training and research agencies/companies involved in Homeland Security activities. Much of the light industrial and office growth will be come out of this sector of the military-industrial economy.

Follow on work for the project will include brokerage consultation for the disposition of over 750,000 square feet of training/office space and development consultation services in securing a specialty developer for the active retirement community.

In association with the land planners (HGOR, Atlanta, Georgia), we developed the highest and best use for each node and determined the optimum development yield in square footage. In addition to economic and residential forecasts, the study analyzed the retail demand which would occur concomitant with growth in the other sectors.

A major focus of the analysis was the identification of retail, industrial and general business targets that complimented the existing growth patterns and the 10-year forecast.

A strategy was discussed on how and when to recruit these identified prospects.