Client Profile

Harding Street, Inc. is a well-established real estate investment firm specializing in value-add opportunities. Their strategic approach focuses on identifying underutilized properties, enhancing their market potential, and optimizing returns through repositioning and redevelopment.

Harding Street, Inc. & Allies Partnership

Allies Commercial Realty partnered with Harding Street, Inc. to assist in the acquisition, repositioning, and eventual disposition of 4505 South Harding Street, an underutilized site with significant challenges. Our expertise in negotiation, zoning strategy, and market positioning allowed our client to transform a distressed property into a lucrative investment.

Opportunity and Challenge

The 4505 South Harding Street site was a former motel that had been abandoned for some time, leading to concerns related to property maintenance, security, and unauthorized use. The site required significant remediation and repositioning to restore its value and attract the right buyer. Key challenges included:

• City-mandated demolition order due to unsafe conditions.
• Asbestos contamination, requiring additional remediation costs.
• Non-ideal zoning (MU-1 Mixed-Use), limiting its marketability.
• Floodplain designation, complicating redevelopment options.

Despite these obstacles, the owner was motivated to sell but sought to maximize the sale price. Given the complexity of the site, a buyer would need both the capital and expertise to navigate the environmental and zoning restrictions while recognizing the property’s long-term value. Our goal was to strategically position the property to attract competitive offers while ensuring our client achieved a strong return on their investment.