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It involves the meticulous collection, uploading, and ongoing monitoring of lease data in a centralized database, serving as a critical compass for managing crucial dates, obligations, and documentation associated with leasing commercial properties.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">At its core, </span><a href=\"https://allegrorealty.com/transaction-advisory-services/lease-administration\"><span data-contrast=\"none\">lease administration</span></a><span data-contrast=\"auto\"> relies on sophisticated software designed to streamline and manage diverse leasing aspects, benefiting business owners, property managers, and landlords. This digital infrastructure simplifies the management of multiple leases, ensures compliance with deadlines, and maintains an accurate inventory of lease-related documents.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">Essential for those immersed in commercial real estate, lease administration is especially invaluable for individuals overseeing </span><a href=\"https://allegrorealty.com/articles/best-practices-to-manage-a-multi-location-cre-portfolio-tips-for-directors-of-commercial-real-estate\"><span data-contrast=\"none\">complex property portfolios</span></a><span data-contrast=\"auto\"> or seeking reliable record-keeping of real estate obligations. It bridges the gap for those lacking a consolidated repository of leases and essential dates.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">Continue reading to learn more about the potential of lease administration, exploring its capacity to elevate commercial real estate management, enhance efficiency, and mitigate risks.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"none\"> <!--more--></span><span data-ccp-props=\"{"201341983":0,"335559740":276}\"></span></p>\n<h2>1. Centralized Data Management </h2>\n<p><strong><span style=\"font-weight: 400;\"><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span>Lease admin systems provide a centralized repository for all relevant documents and data, including financial agreements, legal contracts, lease terms and <a href=\"https://allegrorealty.com/articles/why-exercising-a-lease-renewal-option-is-your-last-resort\" target=\"_blank\" rel=\"noreferrer noopener\">renewal dates</a>. This reduces the chances of data loss or confusion and allows for easy access to critical information. </span></span></span></strong><span data-ccp-props=\"{"201341983":0,"335559740":276}\"></span></p>\n<h2>2. Less Administrative Burden </h2>\n<p><span data-contrast=\"none\">Paper-based lease documents can be cumbersome to manage and retrieve. A digital lease admin system allows for efficient document storage, retrieval, and sharing, saving time and reducing administrative overhead. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"></span></p>\n<h2>3. Scalability and Growth Support </h2>\n<p>Lease admin systems are scalable, making them suitable for managing a growing portfolio of properties. They provide a structured framework for expanding real estate operations without sacrificing organization and control.</p>\n<p><em>>> Related Case Study: </em><a href=\"/case-studies/national-paper-and-packaging-distributor-millcraft-adopts-lease-administration-software-for-20-properties\" rel=\"noopener\" style=\"font-style: italic;\">National Paper and Packaging Distributor, Millcraft, Adopts Lease Administrative Software for 20 Properties</a><em> </em></p>\n<h2>4. Improved Accuracy and Risk Mitigation </h2>\n<p>Lease terms and obligations can be complex and subject to regulatory requirements. A lease admin system helps ensure that lease agreements are accurately documented and compliant with legal, regulatory, and accounting standards, minimizing the liklihood of disputes, legal, and financial disclosure issues. <br><br>Through accurate documentation, compliance tracking, and automated alerts, these systems can also help mitigate risks associated with lease management and financial discrepancies. </p>\n<h2>5. Scalability and Growth Support </h2>\n<p>Lease admin systems can track lease expiration, renewal, and other critical dates. By actively managing these dates and addressing them on a proactive basis, real estate decision makers ensure that they provide themselves enough time to properly address business and legal terms for all new leases. <br><br><em>>> Related Resource: </em><a href=\"/articles/my-lease-is-expiring-what-do-i-do\" rel=\"noopener\" style=\"font-style: italic;\">My Lease Is Expiring; What Do I Do?</a><em> </em></p>\n<h2>6. Effective Reporting and Analytics </h2>\n<p><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span>These systems often come with reporting and </span><span>data </span><span>analytic</span><span> capabilities that </span><span>assi</span><span>s</span><span>t decision makers with developing</span><span> insights for </span><span>their portfolios. By using data to create </span></span><a href=\"https://allegrorealty.com/articles/5-tips-to-successfully-implement-your-cre-portfolio-optimization-plan#:~:text=4.%20Use%20KPIs%20to%20Measure%20Change\" target=\"_blank\" rel=\"noreferrer noopener\"><span><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\">key performance indicators (KPIs)</span></span></a>,<span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span> d</span><span>e</span><span>cision makers are better equipped to thi</span><span>n</span><span>k</span><span> strategically about p</span><span>ortfolio performance and make better decisions.</span><span> </span></span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<h2>7. Remote Access and Collaboration </h2>\n<p>Cloud-based lease admin systems enable remote access, allowing property managers, tenants, and other stakeholders to collaborate and access lease information from anywhere with an internet connection. <br><br><em>>> Related Resource: </em><a href=\"/articles/selecting-the-right-lease-management-software-6-factors-to-consider\" rel=\"noopener\" style=\"font-style: italic;\">Selecting the Right Lease Management Software: 6 Factors to Consider</a><em> </em></p>\n<h2>8. Effective Reporting and Analytics </h2>\n<p>Lease admin systems can send automated alerts and reminders for important dates, such as lease expirations, rent escalations, and <a href=\"/articles/7-benefits-of-cloud-based-computerized-maintenance-management-systems-cmms\" rel=\"noopener\">maintenance obligations</a>. This helps prevent missed deadlines and ensures timely action. </p>\n<h2>How Lease Administration Can Help You </h2>\n<p><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span>Our lease administration services combine state-of-the-art software with expert knowledge to ensure your lease data is appropriately housed in one centralized database. <a href=\"https://allegrorealty.com/transaction-advisory-services/lease-administration#:~:text=Want%20to%20see%20our%0Astep%2Dby%2Dstep%20process%3F\" target=\"_blank\" rel=\"noreferrer noopener\">Download our step-by-step process document</a> to learn how we approach lease administration at Allegro. </span></span><span data-ccp-props=\"{"201341983":0,"335559740":276}\"> </span></p>\n<p>{{cta('67b0e2f8-cf11-4bdb-bc5d-fc64a527c542')}}</p>\n<!-- .entry-content -->","post_summary":"<div class=\"entry-header table\">\n<div class=\"cell\"><!--\n\t\t\t<div class=\"entry-meta\">\n\t\t\t\t<p>Posted on August 26, 2021 by Tim Anderson</p>\n\t\t\t</div>\n--></div>\n</div>\n<p><span data-contrast=\"auto\">Lease administration is a cornerstone of effective </span><a href=\"https://allegrorealty.com/transaction-advisory-services/portfolio-management\"><span data-contrast=\"none\">commercial real estate management</span></a><span data-contrast=\"auto\">. It involves the meticulous collection, uploading, and ongoing monitoring of lease data in a centralized database, serving as a critical compass for managing crucial dates, obligations, and documentation associated with leasing commercial properties.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">At its core, </span><a href=\"https://allegrorealty.com/transaction-advisory-services/lease-administration\"><span data-contrast=\"none\">lease administration</span></a><span data-contrast=\"auto\"> relies on sophisticated software designed to streamline and manage diverse leasing aspects, benefiting business owners, property managers, and landlords. This digital infrastructure simplifies the management of multiple leases, ensures compliance with deadlines, and maintains an accurate inventory of lease-related documents.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">Essential for those immersed in commercial real estate, lease administration is especially invaluable for individuals overseeing </span><a href=\"https://allegrorealty.com/articles/best-practices-to-manage-a-multi-location-cre-portfolio-tips-for-directors-of-commercial-real-estate\"><span data-contrast=\"none\">complex property portfolios</span></a><span data-contrast=\"auto\"> or seeking reliable record-keeping of real estate obligations. It bridges the gap for those lacking a consolidated repository of leases and essential dates.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">Continue reading to learn more about the potential of lease administration, exploring its capacity to elevate commercial real estate management, enhance efficiency, and mitigate risks.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"none\"> </span></p>","blog_post_schedule_task_uid":null,"blog_publish_to_social_media_task":"DONE_NOT_SENT","blog_publish_instant_email_task_uid":null,"blog_publish_instant_email_campaign_id":null,"blog_publish_instant_email_retry_count":0,"rss_body":"<div class=\"entry-header table\">\n<div class=\"cell\"><!--\n\t\t\t<div class=\"entry-meta\">\n\t\t\t\t<p>Posted on August 26, 2021 by Tim Anderson</p>\n\t\t\t</div>\n--></div>\n</div>\n<p><span data-contrast=\"auto\">Lease administration is a cornerstone of effective </span><a href=\"https://allegrorealty.com/transaction-advisory-services/portfolio-management\"><span data-contrast=\"none\">commercial real estate management</span></a><span data-contrast=\"auto\">. It involves the meticulous collection, uploading, and ongoing monitoring of lease data in a centralized database, serving as a critical compass for managing crucial dates, obligations, and documentation associated with leasing commercial properties.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">At its core, </span><a href=\"https://allegrorealty.com/transaction-advisory-services/lease-administration\"><span data-contrast=\"none\">lease administration</span></a><span data-contrast=\"auto\"> relies on sophisticated software designed to streamline and manage diverse leasing aspects, benefiting business owners, property managers, and landlords. This digital infrastructure simplifies the management of multiple leases, ensures compliance with deadlines, and maintains an accurate inventory of lease-related documents.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">Essential for those immersed in commercial real estate, lease administration is especially invaluable for individuals overseeing </span><a href=\"https://allegrorealty.com/articles/best-practices-to-manage-a-multi-location-cre-portfolio-tips-for-directors-of-commercial-real-estate\"><span data-contrast=\"none\">complex property portfolios</span></a><span data-contrast=\"auto\"> or seeking reliable record-keeping of real estate obligations. It bridges the gap for those lacking a consolidated repository of leases and essential dates.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">Continue reading to learn more about the potential of lease administration, exploring its capacity to elevate commercial real estate management, enhance efficiency, and mitigate risks.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"none\"> <!--more--></span><span data-ccp-props=\"{"201341983":0,"335559740":276}\"></span></p>\n<h2>1. Centralized Data Management </h2>\n<p><strong><span style=\"font-weight: 400;\"><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span>Lease admin systems provide a centralized repository for all relevant documents and data, including financial agreements, legal contracts, lease terms and <a href=\"https://allegrorealty.com/articles/why-exercising-a-lease-renewal-option-is-your-last-resort\" target=\"_blank\" rel=\"noreferrer noopener\">renewal dates</a>. This reduces the chances of data loss or confusion and allows for easy access to critical information. </span></span></span></strong><span data-ccp-props=\"{"201341983":0,"335559740":276}\"></span></p>\n<h2>2. Less Administrative Burden </h2>\n<p><span data-contrast=\"none\">Paper-based lease documents can be cumbersome to manage and retrieve. A digital lease admin system allows for efficient document storage, retrieval, and sharing, saving time and reducing administrative overhead. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"></span></p>\n<h2>3. Scalability and Growth Support </h2>\n<p>Lease admin systems are scalable, making them suitable for managing a growing portfolio of properties. They provide a structured framework for expanding real estate operations without sacrificing organization and control.</p>\n<p><em>>> Related Case Study: </em><a href=\"/case-studies/national-paper-and-packaging-distributor-millcraft-adopts-lease-administration-software-for-20-properties\" rel=\"noopener\" style=\"font-style: italic;\">National Paper and Packaging Distributor, Millcraft, Adopts Lease Administrative Software for 20 Properties</a><em> </em></p>\n<h2>4. Improved Accuracy and Risk Mitigation </h2>\n<p>Lease terms and obligations can be complex and subject to regulatory requirements. A lease admin system helps ensure that lease agreements are accurately documented and compliant with legal, regulatory, and accounting standards, minimizing the liklihood of disputes, legal, and financial disclosure issues. <br><br>Through accurate documentation, compliance tracking, and automated alerts, these systems can also help mitigate risks associated with lease management and financial discrepancies. </p>\n<h2>5. Scalability and Growth Support </h2>\n<p>Lease admin systems can track lease expiration, renewal, and other critical dates. By actively managing these dates and addressing them on a proactive basis, real estate decision makers ensure that they provide themselves enough time to properly address business and legal terms for all new leases. <br><br><em>>> Related Resource: </em><a href=\"/articles/my-lease-is-expiring-what-do-i-do\" rel=\"noopener\" style=\"font-style: italic;\">My Lease Is Expiring; What Do I Do?</a><em> </em></p>\n<h2>6. Effective Reporting and Analytics </h2>\n<p><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span>These systems often come with reporting and </span><span>data </span><span>analytic</span><span> capabilities that </span><span>assi</span><span>s</span><span>t decision makers with developing</span><span> insights for </span><span>their portfolios. By using data to create </span></span><a href=\"https://allegrorealty.com/articles/5-tips-to-successfully-implement-your-cre-portfolio-optimization-plan#:~:text=4.%20Use%20KPIs%20to%20Measure%20Change\" target=\"_blank\" rel=\"noreferrer noopener\"><span><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\">key performance indicators (KPIs)</span></span></a>,<span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span> d</span><span>e</span><span>cision makers are better equipped to thi</span><span>n</span><span>k</span><span> strategically about p</span><span>ortfolio performance and make better decisions.</span><span> </span></span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<h2>7. Remote Access and Collaboration </h2>\n<p>Cloud-based lease admin systems enable remote access, allowing property managers, tenants, and other stakeholders to collaborate and access lease information from anywhere with an internet connection. <br><br><em>>> Related Resource: </em><a href=\"/articles/selecting-the-right-lease-management-software-6-factors-to-consider\" rel=\"noopener\" style=\"font-style: italic;\">Selecting the Right Lease Management Software: 6 Factors to Consider</a><em> </em></p>\n<h2>8. Effective Reporting and Analytics </h2>\n<p>Lease admin systems can send automated alerts and reminders for important dates, such as lease expirations, rent escalations, and <a href=\"/articles/7-benefits-of-cloud-based-computerized-maintenance-management-systems-cmms\" rel=\"noopener\">maintenance obligations</a>. This helps prevent missed deadlines and ensures timely action. </p>\n<h2>How Lease Administration Can Help You </h2>\n<p><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span>Our lease administration services combine state-of-the-art software with expert knowledge to ensure your lease data is appropriately housed in one centralized database. <a href=\"https://allegrorealty.com/transaction-advisory-services/lease-administration#:~:text=Want%20to%20see%20our%0Astep%2Dby%2Dstep%20process%3F\" target=\"_blank\" rel=\"noreferrer noopener\">Download our step-by-step process document</a> to learn how we approach lease administration at Allegro. </span></span><span data-ccp-props=\"{"201341983":0,"335559740":276}\"> </span></p>\n<p>{{cta('67b0e2f8-cf11-4bdb-bc5d-fc64a527c542')}}</p>\n<!-- .entry-content -->","rss_summary":"<div class=\"entry-header table\">\n<div class=\"cell\"><!--\n\t\t\t<div class=\"entry-meta\">\n\t\t\t\t<p>Posted on August 26, 2021 by Tim Anderson</p>\n\t\t\t</div>\n--></div>\n</div>\n<p><span data-contrast=\"auto\">Lease administration is a cornerstone of effective </span><a href=\"https://allegrorealty.com/transaction-advisory-services/portfolio-management\"><span data-contrast=\"none\">commercial real estate management</span></a><span data-contrast=\"auto\">. It involves the meticulous collection, uploading, and ongoing monitoring of lease data in a centralized database, serving as a critical compass for managing crucial dates, obligations, and documentation associated with leasing commercial properties.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">At its core, </span><a href=\"https://allegrorealty.com/transaction-advisory-services/lease-administration\"><span data-contrast=\"none\">lease administration</span></a><span data-contrast=\"auto\"> relies on sophisticated software designed to streamline and manage diverse leasing aspects, benefiting business owners, property managers, and landlords. This digital infrastructure simplifies the management of multiple leases, ensures compliance with deadlines, and maintains an accurate inventory of lease-related documents.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">Essential for those immersed in commercial real estate, lease administration is especially invaluable for individuals overseeing </span><a href=\"https://allegrorealty.com/articles/best-practices-to-manage-a-multi-location-cre-portfolio-tips-for-directors-of-commercial-real-estate\"><span data-contrast=\"none\">complex property portfolios</span></a><span data-contrast=\"auto\"> or seeking reliable record-keeping of real estate obligations. It bridges the gap for those lacking a consolidated repository of leases and essential dates.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">Continue reading to learn more about the potential of lease administration, exploring its capacity to elevate commercial real estate management, enhance efficiency, and mitigate risks.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"none\"> </span></p>","keywords":[],"tag_ids":[77269686339,77270935659],"topic_ids":[77269686339,77270935659],"enable_google_amp_output_override":false,"generate_json_ld_enabled":true,"composition_id":0,"html_title":"8 Benefits of a Lease Administration System","public_access_rules_enabled":false,"public_access_rules":[],"use_featured_image":true,"header":null,"layout_sections":{},"past_mab_experiment_ids":[],"password":null,"head_html":null,"footer_html":null,"attached_stylesheets":[],"enable_domain_stylesheets":null,"include_default_custom_css":null,"featured_image_alt_text":"stack of organized lease documents","meta_description":"Discover how lease administration software can streamline leasing processes and enhance efficiency for property owners, managers, and landlords.","meta_keywords":null,"enable_layout_stylesheets":null,"tweet":null,"tweet_at":null,"campaign_name":"Blog","campaign_utm":"Blog","tweet_immediately":false,"publish_immediately":false,"security_state":"NONE","scheduled_update_date":0,"placement_guids":[],"property_for_dynamic_page_title":null,"property_for_dynamic_page_slug":null,"property_for_dynamic_page_meta_description":null,"property_for_dynamic_page_featured_image":null,"property_for_dynamic_page_canonical_url":null,"preview_image_src":null,"legacy_blog_tabid":null,"legacy_post_guid":"","performable_variation_letter":null,"style_override_id":null,"has_user_changes":true,"css":{},"css_text":"","unpublished_at":0,"published_by_id":13028929,"allowed_slug_conflict":false,"link_rel_canonical_url":null,"page_redirected":false,"page_expiry_enabled":false,"page_expiry_date":null,"page_expiry_redirect_id":null,"page_expiry_redirect_url":null,"deleted_by":null,"state_when_deleted":null,"cloned_from":131498579042,"staged_from":null,"personas":[],"compose_body":null,"featured_image":"https://6374170.fs1.hubspotusercontent-na1.net/hubfs/6374170/Blog%20Images/lease%20admin%20featured%20image.png","featured_image_width":773,"featured_image_height":513,"publish_timezone_offset":null,"theme_settings_values":null,"published_at":1694101741004,"last_edit_session_id":null,"last_edit_update_id":null}, jsonBodyAsString={"post_body":"<div class=\"entry-header table\">\n<div class=\"cell\"><!--\n\t\t\t<div class=\"entry-meta\">\n\t\t\t\t<p>Posted on August 26, 2021 by Tim Anderson</p>\n\t\t\t</div>\n--></div>\n</div>\n<p><span data-contrast=\"auto\">Lease administration is a cornerstone of effective </span><a href=\"https://allegrorealty.com/transaction-advisory-services/portfolio-management\"><span data-contrast=\"none\">commercial real estate management</span></a><span data-contrast=\"auto\">. It involves the meticulous collection, uploading, and ongoing monitoring of lease data in a centralized database, serving as a critical compass for managing crucial dates, obligations, and documentation associated with leasing commercial properties.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">At its core, </span><a href=\"https://allegrorealty.com/transaction-advisory-services/lease-administration\"><span data-contrast=\"none\">lease administration</span></a><span data-contrast=\"auto\"> relies on sophisticated software designed to streamline and manage diverse leasing aspects, benefiting business owners, property managers, and landlords. This digital infrastructure simplifies the management of multiple leases, ensures compliance with deadlines, and maintains an accurate inventory of lease-related documents.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">Essential for those immersed in commercial real estate, lease administration is especially invaluable for individuals overseeing </span><a href=\"https://allegrorealty.com/articles/best-practices-to-manage-a-multi-location-cre-portfolio-tips-for-directors-of-commercial-real-estate\"><span data-contrast=\"none\">complex property portfolios</span></a><span data-contrast=\"auto\"> or seeking reliable record-keeping of real estate obligations. It bridges the gap for those lacking a consolidated repository of leases and essential dates.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">Continue reading to learn more about the potential of lease administration, exploring its capacity to elevate commercial real estate management, enhance efficiency, and mitigate risks.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"none\"> <!--more--></span><span data-ccp-props=\"{"201341983":0,"335559740":276}\"></span></p>\n<h2>1. Centralized Data Management </h2>\n<p><strong><span style=\"font-weight: 400;\"><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span>Lease admin systems provide a centralized repository for all relevant documents and data, including financial agreements, legal contracts, lease terms and <a href=\"https://allegrorealty.com/articles/why-exercising-a-lease-renewal-option-is-your-last-resort\" target=\"_blank\" rel=\"noreferrer noopener\">renewal dates</a>. This reduces the chances of data loss or confusion and allows for easy access to critical information. </span></span></span></strong><span data-ccp-props=\"{"201341983":0,"335559740":276}\"></span></p>\n<h2>2. Less Administrative Burden </h2>\n<p><span data-contrast=\"none\">Paper-based lease documents can be cumbersome to manage and retrieve. A digital lease admin system allows for efficient document storage, retrieval, and sharing, saving time and reducing administrative overhead. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"></span></p>\n<h2>3. Scalability and Growth Support </h2>\n<p>Lease admin systems are scalable, making them suitable for managing a growing portfolio of properties. They provide a structured framework for expanding real estate operations without sacrificing organization and control.</p>\n<p><em>>> Related Case Study: </em><a href=\"/case-studies/national-paper-and-packaging-distributor-millcraft-adopts-lease-administration-software-for-20-properties\" rel=\"noopener\" style=\"font-style: italic;\">National Paper and Packaging Distributor, Millcraft, Adopts Lease Administrative Software for 20 Properties</a><em> </em></p>\n<h2>4. Improved Accuracy and Risk Mitigation </h2>\n<p>Lease terms and obligations can be complex and subject to regulatory requirements. A lease admin system helps ensure that lease agreements are accurately documented and compliant with legal, regulatory, and accounting standards, minimizing the liklihood of disputes, legal, and financial disclosure issues. <br><br>Through accurate documentation, compliance tracking, and automated alerts, these systems can also help mitigate risks associated with lease management and financial discrepancies. </p>\n<h2>5. Scalability and Growth Support </h2>\n<p>Lease admin systems can track lease expiration, renewal, and other critical dates. By actively managing these dates and addressing them on a proactive basis, real estate decision makers ensure that they provide themselves enough time to properly address business and legal terms for all new leases. <br><br><em>>> Related Resource: </em><a href=\"/articles/my-lease-is-expiring-what-do-i-do\" rel=\"noopener\" style=\"font-style: italic;\">My Lease Is Expiring; What Do I Do?</a><em> </em></p>\n<h2>6. Effective Reporting and Analytics </h2>\n<p><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span>These systems often come with reporting and </span><span>data </span><span>analytic</span><span> capabilities that </span><span>assi</span><span>s</span><span>t decision makers with developing</span><span> insights for </span><span>their portfolios. By using data to create </span></span><a href=\"https://allegrorealty.com/articles/5-tips-to-successfully-implement-your-cre-portfolio-optimization-plan#:~:text=4.%20Use%20KPIs%20to%20Measure%20Change\" target=\"_blank\" rel=\"noreferrer noopener\"><span><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\">key performance indicators (KPIs)</span></span></a>,<span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span> d</span><span>e</span><span>cision makers are better equipped to thi</span><span>n</span><span>k</span><span> strategically about p</span><span>ortfolio performance and make better decisions.</span><span> </span></span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<h2>7. Remote Access and Collaboration </h2>\n<p>Cloud-based lease admin systems enable remote access, allowing property managers, tenants, and other stakeholders to collaborate and access lease information from anywhere with an internet connection. <br><br><em>>> Related Resource: </em><a href=\"/articles/selecting-the-right-lease-management-software-6-factors-to-consider\" rel=\"noopener\" style=\"font-style: italic;\">Selecting the Right Lease Management Software: 6 Factors to Consider</a><em> </em></p>\n<h2>8. Effective Reporting and Analytics </h2>\n<p>Lease admin systems can send automated alerts and reminders for important dates, such as lease expirations, rent escalations, and <a href=\"/articles/7-benefits-of-cloud-based-computerized-maintenance-management-systems-cmms\" rel=\"noopener\">maintenance obligations</a>. This helps prevent missed deadlines and ensures timely action. </p>\n<h2>How Lease Administration Can Help You </h2>\n<p><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span>Our lease administration services combine state-of-the-art software with expert knowledge to ensure your lease data is appropriately housed in one centralized database. <a href=\"https://allegrorealty.com/transaction-advisory-services/lease-administration#:~:text=Want%20to%20see%20our%0Astep%2Dby%2Dstep%20process%3F\" target=\"_blank\" rel=\"noreferrer noopener\">Download our step-by-step process document</a> to learn how we approach lease administration at Allegro. </span></span><span data-ccp-props=\"{"201341983":0,"335559740":276}\"> </span></p>\n<p>{{cta('67b0e2f8-cf11-4bdb-bc5d-fc64a527c542')}}</p>\n<!-- .entry-content -->","post_summary":"<div class=\"entry-header table\">\n<div class=\"cell\"><!--\n\t\t\t<div class=\"entry-meta\">\n\t\t\t\t<p>Posted on August 26, 2021 by Tim Anderson</p>\n\t\t\t</div>\n--></div>\n</div>\n<p><span data-contrast=\"auto\">Lease administration is a cornerstone of effective </span><a href=\"https://allegrorealty.com/transaction-advisory-services/portfolio-management\"><span data-contrast=\"none\">commercial real estate management</span></a><span data-contrast=\"auto\">. It involves the meticulous collection, uploading, and ongoing monitoring of lease data in a centralized database, serving as a critical compass for managing crucial dates, obligations, and documentation associated with leasing commercial properties.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">At its core, </span><a href=\"https://allegrorealty.com/transaction-advisory-services/lease-administration\"><span data-contrast=\"none\">lease administration</span></a><span data-contrast=\"auto\"> relies on sophisticated software designed to streamline and manage diverse leasing aspects, benefiting business owners, property managers, and landlords. This digital infrastructure simplifies the management of multiple leases, ensures compliance with deadlines, and maintains an accurate inventory of lease-related documents.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">Essential for those immersed in commercial real estate, lease administration is especially invaluable for individuals overseeing </span><a href=\"https://allegrorealty.com/articles/best-practices-to-manage-a-multi-location-cre-portfolio-tips-for-directors-of-commercial-real-estate\"><span data-contrast=\"none\">complex property portfolios</span></a><span data-contrast=\"auto\"> or seeking reliable record-keeping of real estate obligations. It bridges the gap for those lacking a consolidated repository of leases and essential dates.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">Continue reading to learn more about the potential of lease administration, exploring its capacity to elevate commercial real estate management, enhance efficiency, and mitigate risks.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"none\"> </span></p>","blog_post_schedule_task_uid":null,"blog_publish_to_social_media_task":"DONE_NOT_SENT","blog_publish_instant_email_task_uid":null,"blog_publish_instant_email_campaign_id":null,"blog_publish_instant_email_retry_count":0,"rss_body":"<div class=\"entry-header table\">\n<div class=\"cell\"><!--\n\t\t\t<div class=\"entry-meta\">\n\t\t\t\t<p>Posted on August 26, 2021 by Tim Anderson</p>\n\t\t\t</div>\n--></div>\n</div>\n<p><span data-contrast=\"auto\">Lease administration is a cornerstone of effective </span><a href=\"https://allegrorealty.com/transaction-advisory-services/portfolio-management\"><span data-contrast=\"none\">commercial real estate management</span></a><span data-contrast=\"auto\">. It involves the meticulous collection, uploading, and ongoing monitoring of lease data in a centralized database, serving as a critical compass for managing crucial dates, obligations, and documentation associated with leasing commercial properties.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">At its core, </span><a href=\"https://allegrorealty.com/transaction-advisory-services/lease-administration\"><span data-contrast=\"none\">lease administration</span></a><span data-contrast=\"auto\"> relies on sophisticated software designed to streamline and manage diverse leasing aspects, benefiting business owners, property managers, and landlords. This digital infrastructure simplifies the management of multiple leases, ensures compliance with deadlines, and maintains an accurate inventory of lease-related documents.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">Essential for those immersed in commercial real estate, lease administration is especially invaluable for individuals overseeing </span><a href=\"https://allegrorealty.com/articles/best-practices-to-manage-a-multi-location-cre-portfolio-tips-for-directors-of-commercial-real-estate\"><span data-contrast=\"none\">complex property portfolios</span></a><span data-contrast=\"auto\"> or seeking reliable record-keeping of real estate obligations. It bridges the gap for those lacking a consolidated repository of leases and essential dates.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">Continue reading to learn more about the potential of lease administration, exploring its capacity to elevate commercial real estate management, enhance efficiency, and mitigate risks.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"none\"> <!--more--></span><span data-ccp-props=\"{"201341983":0,"335559740":276}\"></span></p>\n<h2>1. Centralized Data Management </h2>\n<p><strong><span style=\"font-weight: 400;\"><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span>Lease admin systems provide a centralized repository for all relevant documents and data, including financial agreements, legal contracts, lease terms and <a href=\"https://allegrorealty.com/articles/why-exercising-a-lease-renewal-option-is-your-last-resort\" target=\"_blank\" rel=\"noreferrer noopener\">renewal dates</a>. This reduces the chances of data loss or confusion and allows for easy access to critical information. </span></span></span></strong><span data-ccp-props=\"{"201341983":0,"335559740":276}\"></span></p>\n<h2>2. Less Administrative Burden </h2>\n<p><span data-contrast=\"none\">Paper-based lease documents can be cumbersome to manage and retrieve. A digital lease admin system allows for efficient document storage, retrieval, and sharing, saving time and reducing administrative overhead. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"></span></p>\n<h2>3. Scalability and Growth Support </h2>\n<p>Lease admin systems are scalable, making them suitable for managing a growing portfolio of properties. They provide a structured framework for expanding real estate operations without sacrificing organization and control.</p>\n<p><em>>> Related Case Study: </em><a href=\"/case-studies/national-paper-and-packaging-distributor-millcraft-adopts-lease-administration-software-for-20-properties\" rel=\"noopener\" style=\"font-style: italic;\">National Paper and Packaging Distributor, Millcraft, Adopts Lease Administrative Software for 20 Properties</a><em> </em></p>\n<h2>4. Improved Accuracy and Risk Mitigation </h2>\n<p>Lease terms and obligations can be complex and subject to regulatory requirements. A lease admin system helps ensure that lease agreements are accurately documented and compliant with legal, regulatory, and accounting standards, minimizing the liklihood of disputes, legal, and financial disclosure issues. <br><br>Through accurate documentation, compliance tracking, and automated alerts, these systems can also help mitigate risks associated with lease management and financial discrepancies. </p>\n<h2>5. Scalability and Growth Support </h2>\n<p>Lease admin systems can track lease expiration, renewal, and other critical dates. By actively managing these dates and addressing them on a proactive basis, real estate decision makers ensure that they provide themselves enough time to properly address business and legal terms for all new leases. <br><br><em>>> Related Resource: </em><a href=\"/articles/my-lease-is-expiring-what-do-i-do\" rel=\"noopener\" style=\"font-style: italic;\">My Lease Is Expiring; What Do I Do?</a><em> </em></p>\n<h2>6. Effective Reporting and Analytics </h2>\n<p><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span>These systems often come with reporting and </span><span>data </span><span>analytic</span><span> capabilities that </span><span>assi</span><span>s</span><span>t decision makers with developing</span><span> insights for </span><span>their portfolios. By using data to create </span></span><a href=\"https://allegrorealty.com/articles/5-tips-to-successfully-implement-your-cre-portfolio-optimization-plan#:~:text=4.%20Use%20KPIs%20to%20Measure%20Change\" target=\"_blank\" rel=\"noreferrer noopener\"><span><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\">key performance indicators (KPIs)</span></span></a>,<span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span> d</span><span>e</span><span>cision makers are better equipped to thi</span><span>n</span><span>k</span><span> strategically about p</span><span>ortfolio performance and make better decisions.</span><span> </span></span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<h2>7. Remote Access and Collaboration </h2>\n<p>Cloud-based lease admin systems enable remote access, allowing property managers, tenants, and other stakeholders to collaborate and access lease information from anywhere with an internet connection. <br><br><em>>> Related Resource: </em><a href=\"/articles/selecting-the-right-lease-management-software-6-factors-to-consider\" rel=\"noopener\" style=\"font-style: italic;\">Selecting the Right Lease Management Software: 6 Factors to Consider</a><em> </em></p>\n<h2>8. Effective Reporting and Analytics </h2>\n<p>Lease admin systems can send automated alerts and reminders for important dates, such as lease expirations, rent escalations, and <a href=\"/articles/7-benefits-of-cloud-based-computerized-maintenance-management-systems-cmms\" rel=\"noopener\">maintenance obligations</a>. This helps prevent missed deadlines and ensures timely action. </p>\n<h2>How Lease Administration Can Help You </h2>\n<p><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span>Our lease administration services combine state-of-the-art software with expert knowledge to ensure your lease data is appropriately housed in one centralized database. <a href=\"https://allegrorealty.com/transaction-advisory-services/lease-administration#:~:text=Want%20to%20see%20our%0Astep%2Dby%2Dstep%20process%3F\" target=\"_blank\" rel=\"noreferrer noopener\">Download our step-by-step process document</a> to learn how we approach lease administration at Allegro. </span></span><span data-ccp-props=\"{"201341983":0,"335559740":276}\"> </span></p>\n<p>{{cta('67b0e2f8-cf11-4bdb-bc5d-fc64a527c542')}}</p>\n<!-- .entry-content -->","rss_summary":"<div class=\"entry-header table\">\n<div class=\"cell\"><!--\n\t\t\t<div class=\"entry-meta\">\n\t\t\t\t<p>Posted on August 26, 2021 by Tim Anderson</p>\n\t\t\t</div>\n--></div>\n</div>\n<p><span data-contrast=\"auto\">Lease administration is a cornerstone of effective </span><a href=\"https://allegrorealty.com/transaction-advisory-services/portfolio-management\"><span data-contrast=\"none\">commercial real estate management</span></a><span data-contrast=\"auto\">. It involves the meticulous collection, uploading, and ongoing monitoring of lease data in a centralized database, serving as a critical compass for managing crucial dates, obligations, and documentation associated with leasing commercial properties.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">At its core, </span><a href=\"https://allegrorealty.com/transaction-advisory-services/lease-administration\"><span data-contrast=\"none\">lease administration</span></a><span data-contrast=\"auto\"> relies on sophisticated software designed to streamline and manage diverse leasing aspects, benefiting business owners, property managers, and landlords. This digital infrastructure simplifies the management of multiple leases, ensures compliance with deadlines, and maintains an accurate inventory of lease-related documents.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">Essential for those immersed in commercial real estate, lease administration is especially invaluable for individuals overseeing </span><a href=\"https://allegrorealty.com/articles/best-practices-to-manage-a-multi-location-cre-portfolio-tips-for-directors-of-commercial-real-estate\"><span data-contrast=\"none\">complex property portfolios</span></a><span data-contrast=\"auto\"> or seeking reliable record-keeping of real estate obligations. It bridges the gap for those lacking a consolidated repository of leases and essential dates.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"auto\">Continue reading to learn more about the potential of lease administration, exploring its capacity to elevate commercial real estate management, enhance efficiency, and mitigate risks.</span><span data-ccp-props=\"{"201341983":0,"335551550":1,"335551620":1,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"none\"> </span></p>","keywords":[],"tag_ids":[77269686339,77270935659],"topic_ids":[77269686339,77270935659],"enable_google_amp_output_override":false,"generate_json_ld_enabled":true,"composition_id":0,"html_title":"8 Benefits of a Lease Administration System","public_access_rules_enabled":false,"public_access_rules":[],"use_featured_image":true,"header":null,"layout_sections":{},"past_mab_experiment_ids":[],"password":null,"head_html":null,"footer_html":null,"attached_stylesheets":[],"enable_domain_stylesheets":null,"include_default_custom_css":null,"featured_image_alt_text":"stack of organized lease documents","meta_description":"Discover how lease administration software can streamline leasing processes and enhance efficiency for property owners, managers, and landlords.","meta_keywords":null,"enable_layout_stylesheets":null,"tweet":null,"tweet_at":null,"campaign_name":"Blog","campaign_utm":"Blog","tweet_immediately":false,"publish_immediately":false,"security_state":"NONE","scheduled_update_date":0,"placement_guids":[],"property_for_dynamic_page_title":null,"property_for_dynamic_page_slug":null,"property_for_dynamic_page_meta_description":null,"property_for_dynamic_page_featured_image":null,"property_for_dynamic_page_canonical_url":null,"preview_image_src":null,"legacy_blog_tabid":null,"legacy_post_guid":"","performable_variation_letter":null,"style_override_id":null,"has_user_changes":true,"css":{},"css_text":"","unpublished_at":0,"published_by_id":13028929,"allowed_slug_conflict":false,"link_rel_canonical_url":null,"page_redirected":false,"page_expiry_enabled":false,"page_expiry_date":null,"page_expiry_redirect_id":null,"page_expiry_redirect_url":null,"deleted_by":null,"state_when_deleted":null,"cloned_from":131498579042,"staged_from":null,"personas":[],"compose_body":null,"featured_image":"https://6374170.fs1.hubspotusercontent-na1.net/hubfs/6374170/Blog%20Images/lease%20admin%20featured%20image.png","featured_image_width":773,"featured_image_height":513,"publish_timezone_offset":null,"theme_settings_values":null,"published_at":1694101741004,"last_edit_session_id":null,"last_edit_update_id":null}, jsonBodyMap={tag_ids=[77269686339, 77270935659], featured_image_alt_text=stack of organized lease documents, layout_sections={}, blog_publish_instant_email_retry_count=0, css={}, topic_ids=[77269686339, 77270935659], css_text=, featured_image_width=773, featured_image_height=513, featured_image=https://6374170.fs1.hubspotusercontent-na1.net/hubfs/6374170/Blog%20Images/lease%20admin%20featured%20image.png, html_title=8 Benefits of a Lease Administration System, campaign_name=Blog, campaign_utm=Blog, generate_json_ld_enabled=true, has_user_changes=true, attached_stylesheets=[], composition_id=0, allowed_slug_conflict=false, enable_google_amp_output_override=false, blog_publish_to_social_media_task=DONE_NOT_SENT, cloned_from=131498579042, published_by_id=13028929}, keywords=[], label=8 Benefits of a Lease Administration System, language=en, languageVariant=false, layoutSections={}, legacyBlogTabid=null, legacyId=null, legacyPostGuid=, linkRelCanonicalUrl=null, linkRelCanonicalUrlColumn=null, listTemplate=, liveDomain=allegrorealty.com, mab=false, mabExperimentId=null, mabMaster=false, mabVariant=false, majorVersion=0, metaDescription=Discover how lease administration software can streamline leasing processes and enhance efficiency for property owners, managers, and landlords., metaKeywords=null, migratedLegacyPost=false, name=8 Benefits of a Lease Administration System, nextPostFeaturedImage=null, nextPostFeaturedImageAltText=null, nextPostName=null, nextPostSlug=null, onlyIdSlug=false, pageExpiryDate=null, pageExpiryDateColumn=null, pageExpiryRedirectId=null, pageExpiryRedirectIdColumn=null, pageExpiryRedirectUrl=null, pageExpiryRedirectUrlColumn=null, pageRedirectedColumn=false, pageTitle=8 Benefits of a Lease Administration System, parentBlog='Articles' blog (77566846315) of hub id 6374170, password=null, passwordColumn=null, pastMabExperimentIds=[], performableGuid=null, performableVariationLetter=null, permissionedObjectType=Optional[BLOG_POST], personas=[], placementGuids=[], portableKey=null, portalId=6374170, position=null, postBody=<div class="entry-header table">
<div class="cell"><!--
<div class="entry-meta">
<p>Posted on August 26, 2021 by Tim Anderson</p>
</div>
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</div>
<p><span data-contrast="auto">Lease administration is a cornerstone of effective </span><a href="https://allegrorealty.com/transaction-advisory-services/portfolio-management"><span data-contrast="none">commercial real estate management</span></a><span data-contrast="auto">. It involves the meticulous collection, uploading, and ongoing monitoring of lease data in a centralized database, serving as a critical compass for managing crucial dates, obligations, and documentation associated with leasing commercial properties.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">At its core, </span><a href="https://allegrorealty.com/transaction-advisory-services/lease-administration"><span data-contrast="none">lease administration</span></a><span data-contrast="auto"> relies on sophisticated software designed to streamline and manage diverse leasing aspects, benefiting business owners, property managers, and landlords. This digital infrastructure simplifies the management of multiple leases, ensures compliance with deadlines, and maintains an accurate inventory of lease-related documents.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">Essential for those immersed in commercial real estate, lease administration is especially invaluable for individuals overseeing </span><a href="https://allegrorealty.com/articles/best-practices-to-manage-a-multi-location-cre-portfolio-tips-for-directors-of-commercial-real-estate"><span data-contrast="none">complex property portfolios</span></a><span data-contrast="auto"> or seeking reliable record-keeping of real estate obligations. It bridges the gap for those lacking a consolidated repository of leases and essential dates.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">Continue reading to learn more about the potential of lease administration, exploring its capacity to elevate commercial real estate management, enhance efficiency, and mitigate risks.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="none"> <!--more--></span><span data-ccp-props="{"201341983":0,"335559740":276}"></span></p>
<h2>1. Centralized Data Management </h2>
<p><strong><span style="font-weight: 400;"><span data-contrast="auto" xml:lang="EN" lang="EN"><span>Lease admin systems provide a centralized repository for all relevant documents and data, including financial agreements, legal contracts, lease terms and <a href="https://allegrorealty.com/articles/why-exercising-a-lease-renewal-option-is-your-last-resort" target="_blank" rel="noreferrer noopener">renewal dates</a>. This reduces the chances of data loss or confusion and allows for easy access to critical information. </span></span></span></strong><span data-ccp-props="{"201341983":0,"335559740":276}"></span></p>
<h2>2. Less Administrative Burden </h2>
<p><span data-contrast="none">Paper-based lease documents can be cumbersome to manage and retrieve. A digital lease admin system allows for efficient document storage, retrieval, and sharing, saving time and reducing administrative overhead. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"></span></p>
<h2>3. Scalability and Growth Support </h2>
<p>Lease admin systems are scalable, making them suitable for managing a growing portfolio of properties. They provide a structured framework for expanding real estate operations without sacrificing organization and control.</p>
<p><em>>> Related Case Study: </em><a href="/case-studies/national-paper-and-packaging-distributor-millcraft-adopts-lease-administration-software-for-20-properties" rel="noopener" style="font-style: italic;">National Paper and Packaging Distributor, Millcraft, Adopts Lease Administrative Software for 20 Properties</a><em> </em></p>
<h2>4. Improved Accuracy and Risk Mitigation </h2>
<p>Lease terms and obligations can be complex and subject to regulatory requirements. A lease admin system helps ensure that lease agreements are accurately documented and compliant with legal, regulatory, and accounting standards, minimizing the liklihood of disputes, legal, and financial disclosure issues. <br><br>Through accurate documentation, compliance tracking, and automated alerts, these systems can also help mitigate risks associated with lease management and financial discrepancies. </p>
<h2>5. Scalability and Growth Support </h2>
<p>Lease admin systems can track lease expiration, renewal, and other critical dates. By actively managing these dates and addressing them on a proactive basis, real estate decision makers ensure that they provide themselves enough time to properly address business and legal terms for all new leases. <br><br><em>>> Related Resource: </em><a href="/articles/my-lease-is-expiring-what-do-i-do" rel="noopener" style="font-style: italic;">My Lease Is Expiring; What Do I Do?</a><em> </em></p>
<h2>6. Effective Reporting and Analytics </h2>
<p><span data-contrast="auto" xml:lang="EN" lang="EN"><span>These systems often come with reporting and </span><span>data </span><span>analytic</span><span> capabilities that </span><span>assi</span><span>s</span><span>t decision makers with developing</span><span> insights for </span><span>their portfolios. By using data to create </span></span><a href="https://allegrorealty.com/articles/5-tips-to-successfully-implement-your-cre-portfolio-optimization-plan#:~:text=4.%20Use%20KPIs%20to%20Measure%20Change" target="_blank" rel="noreferrer noopener"><span><span data-contrast="auto" xml:lang="EN" lang="EN">key performance indicators (KPIs)</span></span></a>,<span data-contrast="auto" xml:lang="EN" lang="EN"><span> d</span><span>e</span><span>cision makers are better equipped to thi</span><span>n</span><span>k</span><span> strategically about p</span><span>ortfolio performance and make better decisions.</span><span> </span></span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<h2>7. Remote Access and Collaboration </h2>
<p>Cloud-based lease admin systems enable remote access, allowing property managers, tenants, and other stakeholders to collaborate and access lease information from anywhere with an internet connection. <br><br><em>>> Related Resource: </em><a href="/articles/selecting-the-right-lease-management-software-6-factors-to-consider" rel="noopener" style="font-style: italic;">Selecting the Right Lease Management Software: 6 Factors to Consider</a><em> </em></p>
<h2>8. Effective Reporting and Analytics </h2>
<p>Lease admin systems can send automated alerts and reminders for important dates, such as lease expirations, rent escalations, and <a href="/articles/7-benefits-of-cloud-based-computerized-maintenance-management-systems-cmms" rel="noopener">maintenance obligations</a>. This helps prevent missed deadlines and ensures timely action. </p>
<h2>How Lease Administration Can Help You </h2>
<p><span data-contrast="none" xml:lang="EN" lang="EN"><span>Our lease administration services combine state-of-the-art software with expert knowledge to ensure your lease data is appropriately housed in one centralized database. <a href="https://allegrorealty.com/transaction-advisory-services/lease-administration#:~:text=Want%20to%20see%20our%0Astep%2Dby%2Dstep%20process%3F" target="_blank" rel="noreferrer noopener">Download our step-by-step process document</a> to learn how we approach lease administration at Allegro. </span></span><span data-ccp-props="{"201341983":0,"335559740":276}"> </span></p>
<p>{{cta('67b0e2f8-cf11-4bdb-bc5d-fc64a527c542')}}</p>
<!-- .entry-content -->, postBodyRss=<div class="entry-header table">
<div class="cell"><!--
<div class="entry-meta">
<p>Posted on August 26, 2021 by Tim Anderson</p>
</div>
--></div>
</div>
<p><span data-contrast="auto">Lease administration is a cornerstone of effective </span><a href="https://allegrorealty.com/transaction-advisory-services/portfolio-management"><span data-contrast="none">commercial real estate management</span></a><span data-contrast="auto">. It involves the meticulous collection, uploading, and ongoing monitoring of lease data in a centralized database, serving as a critical compass for managing crucial dates, obligations, and documentation associated with leasing commercial properties.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">At its core, </span><a href="https://allegrorealty.com/transaction-advisory-services/lease-administration"><span data-contrast="none">lease administration</span></a><span data-contrast="auto"> relies on sophisticated software designed to streamline and manage diverse leasing aspects, benefiting business owners, property managers, and landlords. This digital infrastructure simplifies the management of multiple leases, ensures compliance with deadlines, and maintains an accurate inventory of lease-related documents.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">Essential for those immersed in commercial real estate, lease administration is especially invaluable for individuals overseeing </span><a href="https://allegrorealty.com/articles/best-practices-to-manage-a-multi-location-cre-portfolio-tips-for-directors-of-commercial-real-estate"><span data-contrast="none">complex property portfolios</span></a><span data-contrast="auto"> or seeking reliable record-keeping of real estate obligations. It bridges the gap for those lacking a consolidated repository of leases and essential dates.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">Continue reading to learn more about the potential of lease administration, exploring its capacity to elevate commercial real estate management, enhance efficiency, and mitigate risks.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="none"> <!--more--></span><span data-ccp-props="{"201341983":0,"335559740":276}"></span></p>
<h2>1. Centralized Data Management </h2>
<p><strong><span style="font-weight: 400;"><span data-contrast="auto" xml:lang="EN" lang="EN"><span>Lease admin systems provide a centralized repository for all relevant documents and data, including financial agreements, legal contracts, lease terms and <a href="https://allegrorealty.com/articles/why-exercising-a-lease-renewal-option-is-your-last-resort" target="_blank" rel="noreferrer noopener">renewal dates</a>. This reduces the chances of data loss or confusion and allows for easy access to critical information. </span></span></span></strong><span data-ccp-props="{"201341983":0,"335559740":276}"></span></p>
<h2>2. Less Administrative Burden </h2>
<p><span data-contrast="none">Paper-based lease documents can be cumbersome to manage and retrieve. A digital lease admin system allows for efficient document storage, retrieval, and sharing, saving time and reducing administrative overhead. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"></span></p>
<h2>3. Scalability and Growth Support </h2>
<p>Lease admin systems are scalable, making them suitable for managing a growing portfolio of properties. They provide a structured framework for expanding real estate operations without sacrificing organization and control.</p>
<p><em>>> Related Case Study: </em><a href="/case-studies/national-paper-and-packaging-distributor-millcraft-adopts-lease-administration-software-for-20-properties" rel="noopener" style="font-style: italic;">National Paper and Packaging Distributor, Millcraft, Adopts Lease Administrative Software for 20 Properties</a><em> </em></p>
<h2>4. Improved Accuracy and Risk Mitigation </h2>
<p>Lease terms and obligations can be complex and subject to regulatory requirements. A lease admin system helps ensure that lease agreements are accurately documented and compliant with legal, regulatory, and accounting standards, minimizing the liklihood of disputes, legal, and financial disclosure issues. <br><br>Through accurate documentation, compliance tracking, and automated alerts, these systems can also help mitigate risks associated with lease management and financial discrepancies. </p>
<h2>5. Scalability and Growth Support </h2>
<p>Lease admin systems can track lease expiration, renewal, and other critical dates. By actively managing these dates and addressing them on a proactive basis, real estate decision makers ensure that they provide themselves enough time to properly address business and legal terms for all new leases. <br><br><em>>> Related Resource: </em><a href="/articles/my-lease-is-expiring-what-do-i-do" rel="noopener" style="font-style: italic;">My Lease Is Expiring; What Do I Do?</a><em> </em></p>
<h2>6. Effective Reporting and Analytics </h2>
<p><span data-contrast="auto" xml:lang="EN" lang="EN"><span>These systems often come with reporting and </span><span>data </span><span>analytic</span><span> capabilities that </span><span>assi</span><span>s</span><span>t decision makers with developing</span><span> insights for </span><span>their portfolios. By using data to create </span></span><a href="https://allegrorealty.com/articles/5-tips-to-successfully-implement-your-cre-portfolio-optimization-plan#:~:text=4.%20Use%20KPIs%20to%20Measure%20Change" target="_blank" rel="noreferrer noopener"><span><span data-contrast="auto" xml:lang="EN" lang="EN">key performance indicators (KPIs)</span></span></a>,<span data-contrast="auto" xml:lang="EN" lang="EN"><span> d</span><span>e</span><span>cision makers are better equipped to thi</span><span>n</span><span>k</span><span> strategically about p</span><span>ortfolio performance and make better decisions.</span><span> </span></span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<h2>7. Remote Access and Collaboration </h2>
<p>Cloud-based lease admin systems enable remote access, allowing property managers, tenants, and other stakeholders to collaborate and access lease information from anywhere with an internet connection. <br><br><em>>> Related Resource: </em><a href="/articles/selecting-the-right-lease-management-software-6-factors-to-consider" rel="noopener" style="font-style: italic;">Selecting the Right Lease Management Software: 6 Factors to Consider</a><em> </em></p>
<h2>8. Effective Reporting and Analytics </h2>
<p>Lease admin systems can send automated alerts and reminders for important dates, such as lease expirations, rent escalations, and <a href="/articles/7-benefits-of-cloud-based-computerized-maintenance-management-systems-cmms" rel="noopener">maintenance obligations</a>. This helps prevent missed deadlines and ensures timely action. </p>
<h2>How Lease Administration Can Help You </h2>
<p><span data-contrast="none" xml:lang="EN" lang="EN"><span>Our lease administration services combine state-of-the-art software with expert knowledge to ensure your lease data is appropriately housed in one centralized database. <a href="https://allegrorealty.com/transaction-advisory-services/lease-administration#:~:text=Want%20to%20see%20our%0Astep%2Dby%2Dstep%20process%3F" target="_blank" rel="noreferrer noopener">Download our step-by-step process document</a> to learn how we approach lease administration at Allegro. </span></span><span data-ccp-props="{"201341983":0,"335559740":276}"> </span></p>
<p>{{cta('67b0e2f8-cf11-4bdb-bc5d-fc64a527c542')}}</p>
<!-- .entry-content -->, postEmailContent=<div class="entry-header table">
<div class="cell">
<!--
<div class="entry-meta">
<p>Posted on August 26, 2021 by Tim Anderson</p>
</div>
-->
</div>
</div>
<p><span data-contrast="auto">Lease administration is a cornerstone of effective </span><a href="https://allegrorealty.com/transaction-advisory-services/portfolio-management"><span data-contrast="none">commercial real estate management</span></a><span data-contrast="auto">. It involves the meticulous collection, uploading, and ongoing monitoring of lease data in a centralized database, serving as a critical compass for managing crucial dates, obligations, and documentation associated with leasing commercial properties.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">At its core, </span><a href="https://allegrorealty.com/transaction-advisory-services/lease-administration"><span data-contrast="none">lease administration</span></a><span data-contrast="auto"> relies on sophisticated software designed to streamline and manage diverse leasing aspects, benefiting business owners, property managers, and landlords. This digital infrastructure simplifies the management of multiple leases, ensures compliance with deadlines, and maintains an accurate inventory of lease-related documents.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">Essential for those immersed in commercial real estate, lease administration is especially invaluable for individuals overseeing </span><a href="https://allegrorealty.com/articles/best-practices-to-manage-a-multi-location-cre-portfolio-tips-for-directors-of-commercial-real-estate"><span data-contrast="none">complex property portfolios</span></a><span data-contrast="auto"> or seeking reliable record-keeping of real estate obligations. It bridges the gap for those lacking a consolidated repository of leases and essential dates.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">Continue reading to learn more about the potential of lease administration, exploring its capacity to elevate commercial real estate management, enhance efficiency, and mitigate risks.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>, postFeaturedImageIfEnabled=https://6374170.fs1.hubspotusercontent-na1.net/hubfs/6374170/Blog%20Images/lease%20admin%20featured%20image.png, postListContent=<div class="entry-header table">
<div class="cell">
<!--
<div class="entry-meta">
<p>Posted on August 26, 2021 by Tim Anderson</p>
</div>
-->
</div>
</div>
<p><span data-contrast="auto">Lease administration is a cornerstone of effective </span><a href="https://allegrorealty.com/transaction-advisory-services/portfolio-management"><span data-contrast="none">commercial real estate management</span></a><span data-contrast="auto">. It involves the meticulous collection, uploading, and ongoing monitoring of lease data in a centralized database, serving as a critical compass for managing crucial dates, obligations, and documentation associated with leasing commercial properties.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">At its core, </span><a href="https://allegrorealty.com/transaction-advisory-services/lease-administration"><span data-contrast="none">lease administration</span></a><span data-contrast="auto"> relies on sophisticated software designed to streamline and manage diverse leasing aspects, benefiting business owners, property managers, and landlords. This digital infrastructure simplifies the management of multiple leases, ensures compliance with deadlines, and maintains an accurate inventory of lease-related documents.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">Essential for those immersed in commercial real estate, lease administration is especially invaluable for individuals overseeing </span><a href="https://allegrorealty.com/articles/best-practices-to-manage-a-multi-location-cre-portfolio-tips-for-directors-of-commercial-real-estate"><span data-contrast="none">complex property portfolios</span></a><span data-contrast="auto"> or seeking reliable record-keeping of real estate obligations. It bridges the gap for those lacking a consolidated repository of leases and essential dates.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">Continue reading to learn more about the potential of lease administration, exploring its capacity to elevate commercial real estate management, enhance efficiency, and mitigate risks.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>, postListSummaryFeaturedImage=https://6374170.fs1.hubspotusercontent-na1.net/hubfs/6374170/Blog%20Images/lease%20admin%20featured%20image.png, postRssContent=<div class="entry-header table">
<div class="cell">
<!--
<div class="entry-meta">
<p>Posted on August 26, 2021 by Tim Anderson</p>
</div>
-->
</div>
</div>
<p><span data-contrast="auto">Lease administration is a cornerstone of effective </span><a href="https://allegrorealty.com/transaction-advisory-services/portfolio-management"><span data-contrast="none">commercial real estate management</span></a><span data-contrast="auto">. It involves the meticulous collection, uploading, and ongoing monitoring of lease data in a centralized database, serving as a critical compass for managing crucial dates, obligations, and documentation associated with leasing commercial properties.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">At its core, </span><a href="https://allegrorealty.com/transaction-advisory-services/lease-administration"><span data-contrast="none">lease administration</span></a><span data-contrast="auto"> relies on sophisticated software designed to streamline and manage diverse leasing aspects, benefiting business owners, property managers, and landlords. This digital infrastructure simplifies the management of multiple leases, ensures compliance with deadlines, and maintains an accurate inventory of lease-related documents.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">Essential for those immersed in commercial real estate, lease administration is especially invaluable for individuals overseeing </span><a href="https://allegrorealty.com/articles/best-practices-to-manage-a-multi-location-cre-portfolio-tips-for-directors-of-commercial-real-estate"><span data-contrast="none">complex property portfolios</span></a><span data-contrast="auto"> or seeking reliable record-keeping of real estate obligations. It bridges the gap for those lacking a consolidated repository of leases and essential dates.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">Continue reading to learn more about the potential of lease administration, exploring its capacity to elevate commercial real estate management, enhance efficiency, and mitigate risks.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>, postRssSummaryFeaturedImage=https://6374170.fs1.hubspotusercontent-na1.net/hubfs/6374170/Blog%20Images/lease%20admin%20featured%20image.png, postSummary=<div class="entry-header table">
<div class="cell"><!--
<div class="entry-meta">
<p>Posted on August 26, 2021 by Tim Anderson</p>
</div>
--></div>
</div>
<p><span data-contrast="auto">Lease administration is a cornerstone of effective </span><a href="https://allegrorealty.com/transaction-advisory-services/portfolio-management"><span data-contrast="none">commercial real estate management</span></a><span data-contrast="auto">. It involves the meticulous collection, uploading, and ongoing monitoring of lease data in a centralized database, serving as a critical compass for managing crucial dates, obligations, and documentation associated with leasing commercial properties.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">At its core, </span><a href="https://allegrorealty.com/transaction-advisory-services/lease-administration"><span data-contrast="none">lease administration</span></a><span data-contrast="auto"> relies on sophisticated software designed to streamline and manage diverse leasing aspects, benefiting business owners, property managers, and landlords. This digital infrastructure simplifies the management of multiple leases, ensures compliance with deadlines, and maintains an accurate inventory of lease-related documents.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">Essential for those immersed in commercial real estate, lease administration is especially invaluable for individuals overseeing </span><a href="https://allegrorealty.com/articles/best-practices-to-manage-a-multi-location-cre-portfolio-tips-for-directors-of-commercial-real-estate"><span data-contrast="none">complex property portfolios</span></a><span data-contrast="auto"> or seeking reliable record-keeping of real estate obligations. It bridges the gap for those lacking a consolidated repository of leases and essential dates.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">Continue reading to learn more about the potential of lease administration, exploring its capacity to elevate commercial real estate management, enhance efficiency, and mitigate risks.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="none"> </span></p>, postSummaryRss=<div class="entry-header table">
<div class="cell">
<!--
<div class="entry-meta">
<p>Posted on August 26, 2021 by Tim Anderson</p>
</div>
-->
</div>
</div>
<p><span data-contrast="auto">Lease administration is a cornerstone of effective </span><a href="https://allegrorealty.com/transaction-advisory-services/portfolio-management"><span data-contrast="none">commercial real estate management</span></a><span data-contrast="auto">. It involves the meticulous collection, uploading, and ongoing monitoring of lease data in a centralized database, serving as a critical compass for managing crucial dates, obligations, and documentation associated with leasing commercial properties.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">At its core, </span><a href="https://allegrorealty.com/transaction-advisory-services/lease-administration"><span data-contrast="none">lease administration</span></a><span data-contrast="auto"> relies on sophisticated software designed to streamline and manage diverse leasing aspects, benefiting business owners, property managers, and landlords. This digital infrastructure simplifies the management of multiple leases, ensures compliance with deadlines, and maintains an accurate inventory of lease-related documents.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">Essential for those immersed in commercial real estate, lease administration is especially invaluable for individuals overseeing </span><a href="https://allegrorealty.com/articles/best-practices-to-manage-a-multi-location-cre-portfolio-tips-for-directors-of-commercial-real-estate"><span data-contrast="none">complex property portfolios</span></a><span data-contrast="auto"> or seeking reliable record-keeping of real estate obligations. It bridges the gap for those lacking a consolidated repository of leases and essential dates.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">Continue reading to learn more about the potential of lease administration, exploring its capacity to elevate commercial real estate management, enhance efficiency, and mitigate risks.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>, postTemplate=AllegroHS/templates/single-articles.html, potentiallyStale=true, previewImageSrc=null, previewKey=zUDZyVsV, previousPostFeaturedImage=https://6374170.fs1.hubspotusercontent-na1.net/hubfs/6374170/Screenshot%202023-08-24%20at%209.19.09%20AM.png, previousPostFeaturedImageAltText=broker opinion of value data, previousPostName=Broker Opinion of Value vs Appraisal: What You Need to Know, previousPostSlug=articles/broker-opinion-of-value-vs-appraisal, processingStatus=PUBLISHED, propertyForDynamicPageCanonicalUrl=null, propertyForDynamicPageFeaturedImage=null, propertyForDynamicPageMetaDescription=null, propertyForDynamicPageSlug=null, propertyForDynamicPageTitle=null, publicAccessRules=[], publicAccessRulesEnabled=false, publicAccessRulesEnabledColumn=false, publishDate=2023-09-07 15:49:00, publishDateLocalTime=2023-09-07T15:49Z, publishDateLocalized=com.hubspot.jinjava.objects.date.FormattedDate@796591be, publishDateLong=1694101740000, publishDateSnakeCaseLong=1694101740000, publishImmediately=false, publishImmediatelyColumn=null, publishTimezoneOffset=null, publishedAt=1694101741004, publishedByEmail=null, publishedById=13028929, publishedByName=null, publishedUrl=https://allegrorealty.com/articles/benefits-of-lease-administration-system, requiresDeletion=false, resolvedDomain=allegrorealty.com, resolvedLanguage=null, rssBody=<div class="entry-header table">
<div class="cell"><!--
<div class="entry-meta">
<p>Posted on August 26, 2021 by Tim Anderson</p>
</div>
--></div>
</div>
<p><span data-contrast="auto">Lease administration is a cornerstone of effective </span><a href="https://allegrorealty.com/transaction-advisory-services/portfolio-management"><span data-contrast="none">commercial real estate management</span></a><span data-contrast="auto">. It involves the meticulous collection, uploading, and ongoing monitoring of lease data in a centralized database, serving as a critical compass for managing crucial dates, obligations, and documentation associated with leasing commercial properties.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">At its core, </span><a href="https://allegrorealty.com/transaction-advisory-services/lease-administration"><span data-contrast="none">lease administration</span></a><span data-contrast="auto"> relies on sophisticated software designed to streamline and manage diverse leasing aspects, benefiting business owners, property managers, and landlords. This digital infrastructure simplifies the management of multiple leases, ensures compliance with deadlines, and maintains an accurate inventory of lease-related documents.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">Essential for those immersed in commercial real estate, lease administration is especially invaluable for individuals overseeing </span><a href="https://allegrorealty.com/articles/best-practices-to-manage-a-multi-location-cre-portfolio-tips-for-directors-of-commercial-real-estate"><span data-contrast="none">complex property portfolios</span></a><span data-contrast="auto"> or seeking reliable record-keeping of real estate obligations. It bridges the gap for those lacking a consolidated repository of leases and essential dates.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">Continue reading to learn more about the potential of lease administration, exploring its capacity to elevate commercial real estate management, enhance efficiency, and mitigate risks.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="none"> <!--more--></span><span data-ccp-props="{"201341983":0,"335559740":276}"></span></p>
<h2>1. Centralized Data Management </h2>
<p><strong><span style="font-weight: 400;"><span data-contrast="auto" xml:lang="EN" lang="EN"><span>Lease admin systems provide a centralized repository for all relevant documents and data, including financial agreements, legal contracts, lease terms and <a href="https://allegrorealty.com/articles/why-exercising-a-lease-renewal-option-is-your-last-resort" target="_blank" rel="noreferrer noopener">renewal dates</a>. This reduces the chances of data loss or confusion and allows for easy access to critical information. </span></span></span></strong><span data-ccp-props="{"201341983":0,"335559740":276}"></span></p>
<h2>2. Less Administrative Burden </h2>
<p><span data-contrast="none">Paper-based lease documents can be cumbersome to manage and retrieve. A digital lease admin system allows for efficient document storage, retrieval, and sharing, saving time and reducing administrative overhead. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"></span></p>
<h2>3. Scalability and Growth Support </h2>
<p>Lease admin systems are scalable, making them suitable for managing a growing portfolio of properties. They provide a structured framework for expanding real estate operations without sacrificing organization and control.</p>
<p><em>>> Related Case Study: </em><a href="/case-studies/national-paper-and-packaging-distributor-millcraft-adopts-lease-administration-software-for-20-properties" rel="noopener" style="font-style: italic;">National Paper and Packaging Distributor, Millcraft, Adopts Lease Administrative Software for 20 Properties</a><em> </em></p>
<h2>4. Improved Accuracy and Risk Mitigation </h2>
<p>Lease terms and obligations can be complex and subject to regulatory requirements. A lease admin system helps ensure that lease agreements are accurately documented and compliant with legal, regulatory, and accounting standards, minimizing the liklihood of disputes, legal, and financial disclosure issues. <br><br>Through accurate documentation, compliance tracking, and automated alerts, these systems can also help mitigate risks associated with lease management and financial discrepancies. </p>
<h2>5. Scalability and Growth Support </h2>
<p>Lease admin systems can track lease expiration, renewal, and other critical dates. By actively managing these dates and addressing them on a proactive basis, real estate decision makers ensure that they provide themselves enough time to properly address business and legal terms for all new leases. <br><br><em>>> Related Resource: </em><a href="/articles/my-lease-is-expiring-what-do-i-do" rel="noopener" style="font-style: italic;">My Lease Is Expiring; What Do I Do?</a><em> </em></p>
<h2>6. Effective Reporting and Analytics </h2>
<p><span data-contrast="auto" xml:lang="EN" lang="EN"><span>These systems often come with reporting and </span><span>data </span><span>analytic</span><span> capabilities that </span><span>assi</span><span>s</span><span>t decision makers with developing</span><span> insights for </span><span>their portfolios. By using data to create </span></span><a href="https://allegrorealty.com/articles/5-tips-to-successfully-implement-your-cre-portfolio-optimization-plan#:~:text=4.%20Use%20KPIs%20to%20Measure%20Change" target="_blank" rel="noreferrer noopener"><span><span data-contrast="auto" xml:lang="EN" lang="EN">key performance indicators (KPIs)</span></span></a>,<span data-contrast="auto" xml:lang="EN" lang="EN"><span> d</span><span>e</span><span>cision makers are better equipped to thi</span><span>n</span><span>k</span><span> strategically about p</span><span>ortfolio performance and make better decisions.</span><span> </span></span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<h2>7. Remote Access and Collaboration </h2>
<p>Cloud-based lease admin systems enable remote access, allowing property managers, tenants, and other stakeholders to collaborate and access lease information from anywhere with an internet connection. <br><br><em>>> Related Resource: </em><a href="/articles/selecting-the-right-lease-management-software-6-factors-to-consider" rel="noopener" style="font-style: italic;">Selecting the Right Lease Management Software: 6 Factors to Consider</a><em> </em></p>
<h2>8. Effective Reporting and Analytics </h2>
<p>Lease admin systems can send automated alerts and reminders for important dates, such as lease expirations, rent escalations, and <a href="/articles/7-benefits-of-cloud-based-computerized-maintenance-management-systems-cmms" rel="noopener">maintenance obligations</a>. This helps prevent missed deadlines and ensures timely action. </p>
<h2>How Lease Administration Can Help You </h2>
<p><span data-contrast="none" xml:lang="EN" lang="EN"><span>Our lease administration services combine state-of-the-art software with expert knowledge to ensure your lease data is appropriately housed in one centralized database. <a href="https://allegrorealty.com/transaction-advisory-services/lease-administration#:~:text=Want%20to%20see%20our%0Astep%2Dby%2Dstep%20process%3F" target="_blank" rel="noreferrer noopener">Download our step-by-step process document</a> to learn how we approach lease administration at Allegro. </span></span><span data-ccp-props="{"201341983":0,"335559740":276}"> </span></p>
<p>{{cta('67b0e2f8-cf11-4bdb-bc5d-fc64a527c542')}}</p>
<!-- .entry-content -->, rssSummary=<div class="entry-header table">
<div class="cell"><!--
<div class="entry-meta">
<p>Posted on August 26, 2021 by Tim Anderson</p>
</div>
--></div>
</div>
<p><span data-contrast="auto">Lease administration is a cornerstone of effective </span><a href="https://allegrorealty.com/transaction-advisory-services/portfolio-management"><span data-contrast="none">commercial real estate management</span></a><span data-contrast="auto">. It involves the meticulous collection, uploading, and ongoing monitoring of lease data in a centralized database, serving as a critical compass for managing crucial dates, obligations, and documentation associated with leasing commercial properties.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">At its core, </span><a href="https://allegrorealty.com/transaction-advisory-services/lease-administration"><span data-contrast="none">lease administration</span></a><span data-contrast="auto"> relies on sophisticated software designed to streamline and manage diverse leasing aspects, benefiting business owners, property managers, and landlords. This digital infrastructure simplifies the management of multiple leases, ensures compliance with deadlines, and maintains an accurate inventory of lease-related documents.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">Essential for those immersed in commercial real estate, lease administration is especially invaluable for individuals overseeing </span><a href="https://allegrorealty.com/articles/best-practices-to-manage-a-multi-location-cre-portfolio-tips-for-directors-of-commercial-real-estate"><span data-contrast="none">complex property portfolios</span></a><span data-contrast="auto"> or seeking reliable record-keeping of real estate obligations. It bridges the gap for those lacking a consolidated repository of leases and essential dates.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
<p><span data-contrast="auto">Continue reading to learn more about the potential of lease administration, exploring its capacity to elevate commercial real estate management, enhance efficiency, and mitigate risks.</span><span data-ccp-props="{"201341983":0,"335551550":1,"335551620":1,"335559740":276}"> </span></p>
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8 Benefits of a Lease Administration System
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Think: As consumer spending slows and revenues drop, companies may cut back on hiring employees or buying new equipment. If spending increases, new employees and more materials are needed to adapt to this change.</p>
<p>Your corporate real estate—the physical embodiment of corporate strategy—is not different. As the first or second expense on an income statement, it’s important that your real estate continuously supports your<br>business goals.</p>
<p>As the economy ebbs and flows, business leaders often recognize that their existing commercial real estate portfolio no longer aligns with their needs.</p>, paper_form={form_id=379fb75a-1f6f-4cb4-9b29-f4762f9c6848, response_type=inline, message=<p>Thanks for downloading the guide. <a href="https://f.hubspotusercontent20.net/hubfs/6374170/Portfolio%20Optimization%20Whitepaper/Allegro%20Realty%20Portfolio%20Optimization%20Whitepaper.pdf" target="_blank" rel="noopener"><strong>Click here to download it.</strong></a></p>
<p>We'll also email you a copy shortly so you can access the whitepaper at any time.</p>
<p>For more resources like this, <a href="https://www.allegrorealty.com/blog\" target="_blank" rel="noopener">check out our blog</a>.</p>, gotowebinar_webinar_key=null, form_type=HUBSPOT}, white_paper_copy=<p><span>It’s the first or second expense on an income statement. It’s the physical embodiment of your corporate strategy. <strong>It’s your commercial real estate portfolio, and if it’s not optimized to continuously support your business goals, you could be missing out on massive financial gains. </strong></span><span></span></p>
<p><span>That’s why we created this free resource: </span><strong>“Portfolio Optimization: The Essential Corporate Real Estate Guide.”</strong><span></span></p>
<p><span id="m_-5107931455289124614gmail-docs-internal-guid-a86c6230-7fff-89b2-2a5c-25a1b3e5905c"></span></p>
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Commercial Real Estate Portfolio Optimization Guide
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Prior to site identification, Team NEO </span><span data-contrast=\"auto\">sought an experienced group of partners</span><span data-contrast=\"none\"> to aid in the </span><a href=\"https://allegrorealty.com/consulting-services/site-location-strategy\"><span data-contrast=\"none\">site location strategy</span></a><span data-contrast=\"none\">, selection, and vetting necessary for this initiative. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"none\">With more than 15 years of experience working together in real estate development strategies that support economic development, </span><a href=\"https://northeastohioregion.com/news/team-neo-announces-team-to-identify-site-opportunities-in-cuyahoga-and-summit-counties/\"><span data-contrast=\"none\">Allegro was selected</span></a><span data-contrast=\"none\">, along with Verdantas, McCabe Companies, and Chicago Title, to conduct site assessments and development analysis for Team NEO. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n","post_body":"<p><span data-contrast=\"none\">Team NEO, a private, nonprofit economic development organization, set out with a goal to</span><span data-contrast=\"none\"> </span><span style=\"font-weight: bold;\">grow a robust, dynamic inventory of undeveloped properties</span><span data-contrast=\"none\">, enabling Northeast Ohio to be more competitive and offer more equitable opportunities when competing for strategic business investment projects. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"none\">The team knew they needed to focus on job hubs in Cuyahoga County and Summit County, with space specifically positioned for manufacturing, logistics, distribution, and light assembly facilities. Prior to site identification, Team NEO </span><span data-contrast=\"auto\">sought an experienced group of partners</span><span data-contrast=\"none\"> to aid in the </span><a href=\"https://allegrorealty.com/consulting-services/site-location-strategy\"><span data-contrast=\"none\">site location strategy</span></a><span data-contrast=\"none\">, selection, and vetting necessary for this initiative. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"none\">With more than 15 years of experience working together in real estate development strategies that support economic development, </span><a href=\"https://northeastohioregion.com/news/team-neo-announces-team-to-identify-site-opportunities-in-cuyahoga-and-summit-counties/\"><span data-contrast=\"none\">Allegro was selected</span></a><span data-contrast=\"none\">, along with Verdantas, McCabe Companies, and Chicago Title, to conduct site assessments and development analysis for Team NEO. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<!--more-->\n<h2>Understanding Site Location Needs and Objectives </h2>\n<p><span data-contrast=\"none\">For this project, it was important to find sites that </span><span style=\"font-weight: bold;\">weren't already being delivered by the private sector. </span><span data-contrast=\"none\">This criteria enabled the team to narrow their search to locations in Cuyahoga County and Summit County with a minimum of 10 acres in urban areas and 20 acres in suburban areas.</span><span data-ccp-props=\"{"201341983":0,"335559739":160,"335559740":259}\"> </span></p>\n<p><span data-contrast=\"none\">Because these sites are intended for industrial use, </span><strong><span data-contrast=\"none\">a </span></strong><span style=\"font-weight: bold;\">heavy emphasis was also put on infrastructure.</span><span data-contrast=\"none\"> </span><span data-contrast=\"none\">This included whether it was a high-capacity utility location, had roadway accessibility, and access to public transit. All of these factors, in combination with barriers like topography and wetlands, were taken into consideration as the team identified a long list of development opportunities. </span><span data-ccp-props=\"{"201341983":0,"335559739":160,"335559740":259}\"> </span></p>\n<h2>Identifying Potential New Development Opportunities </h2>\n<p><span data-contrast=\"none\">The team started the project by </span><span style=\"font-weight: bold;\">working with a group of stakeholders</span><span data-contrast=\"none\"> in each of the two counties to get a better understanding of potential sites. These stakeholders included economic developers at the county and city levels, chamber of commerce representatives, planning commission representatives, and entities that managed land banks.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></p>\n<p><span data-contrast=\"none\">Afterwards, the team conducted inverse site selection to generate a long list of development opportunities for Team NEO. Using GIS, or geographic information systems, the team identified high-capacity electric lines, water, sewer, natural gas and roadway infrastructure, large amounts of available land, and developmental barriers such as wetlands </span><span style=\"font-weight: bold;\">to form a long list of 15 potential sites per county.</span><strong><span data-contrast=\"none\"> </span></strong><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></p>\n<h2>Categorizing and Prioritizing Sites </h2>\n<p><span data-contrast=\"none\">Using a site scoring rubric, Allegro worked with project stakeholders to categorize the long list of sites into short-term (1-3 years from now), medium-term (3-5 years), and long-term (6-9 years) opportunities. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></p>\n<p><span data-contrast=\"none\">When categorizing each location, </span><strong><span data-contrast=\"none\">the following criteria were taken into consideration</span></strong><span data-contrast=\"none\">: </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></p>\n<ul>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\">Land size. </span></li>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"><a href=\"/articles/smart-commute-finding-a-space-that-suits-your-employees\" rel=\"noopener\">Drive time</a> from a highway. <br></span></li>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\">Power infrastructure and supply. </span></li>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"><a href=\"/articles/how-to-maximize-your-industrial-space-for-energy-efficiency-and-sustainability\" rel=\"noopener\">Environmental, social, and governance</a> (ESG) score, using Team NEO’s proprietary software. </span></li>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\">Total number of parcels and owners. </span></li>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\">Proximity to existing clusters of jobs and labor pools. </span></li>\n</ul>\n<p><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\">The top five short-term properties in each county were selected based on their alignment with this criteria and barriers to development, including the number of parcel owners or amount of developable acres. </span> </span></p>\n<h2>Conducting Comprehensive SWOT Analyses and Environmental Assessments </h2>\n<p aria-level=\"2\"><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span>W</span><span>ith the short-term properties presented and confirmed, Allegro, in partnership with </span></span><a href=\"https://www.verdantas.com/\" target=\"_blank\" rel=\"noreferrer noopener\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span data-ccp-charstyle=\"Hyperlink\">Verdantas</span></span></a><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span>, moved forward with conducting SWOT analyses and </span></span><a href=\"https://allegrorealty.com/articles/understanding-the-4-types-of-due-diligence-during-cre-disposition\" target=\"_blank\" rel=\"noreferrer noopener\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span data-ccp-charstyle=\"Hyperlink\">Phase I</span><span data-ccp-charstyle=\"Hyperlink\"> </span><span data-ccp-charstyle=\"Hyperlink\">en</span><span data-ccp-charstyle=\"Hyperlink\">v</span><span data-ccp-charstyle=\"Hyperlink\">ironmental </span><span data-ccp-charstyle=\"Hyperlink\">assessments</span></span></a><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span>.</span><span> The SWOT analysis criteria incl</span><span>uded</span><span>: </span></span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></p>\n<ul>\n<li><span data-contrast=\"auto\">Parcel ownership.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Site assembly.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Land acquisition potential.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Site conditions.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Industrial site access.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Developable acreage.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Rail access. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Tree clearing.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Flood planes.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Rights of way or easements.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Wetlands analysis.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Known environmental issues.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Geotechnical soil issues.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><a href=\"https://allegrorealty.com/articles/how-to-adjust-commercial-zoning-to-increase-value\"><span data-contrast=\"none\">Zoning</span></a><span data-contrast=\"auto\"> and surrounding land uses.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Utility infrastructure.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Infrastructure access and public transit.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Price per acre.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Access to labor and talent.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n</ul>\n<p><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\">Assessing these critical factors for each property ensured that Team NEO made the right choices when it came to selecting sites for new development. </span> </span></p>\n<h2>Positioning Northeast Ohio for Continued Growth </h2>\n<p><span data-contrast=\"auto\"><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\">With a short list of vetted, viable sites, Team NEO can now solicit the right developers and/or nonprofit entities to bring these properties to market. The developed land in both Cuyahoga County and Summit County is not only projected to significantly increase job opportunities in the area, but also boost the local economies overall. </span> </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<p style=\"font-weight: bold;\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\">Do you need support with </span><a href=\"https://allegrorealty.com/consulting-services/site-location-strategy\" target=\"_blank\" rel=\"noreferrer noopener\" style=\"font-weight: bold;\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\">site selection and location strategy</span></a><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span style=\"font-weight: bold;\">? Our team can help.</span><span> </span></span><a href=\"https://www.allegrorealty.com/contact/\" target=\"_blank\" rel=\"noreferrer noopener\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span data-ccp-charstyle=\"Hyperlink\">Contact us</span></span></a><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span> to discuss your needs today. </span></span><span data-ccp-props=\"{"201341983":0,"335559740":276}\"> </span><span data-contrast=\"auto\"></span> </p>\n<footer class=\"entry-footer\"></footer><!-- .entry-footer -->","rss_summary":"<p><span data-contrast=\"none\">Team NEO, a private, nonprofit economic development organization, set out with a goal to</span><span data-contrast=\"none\"> </span><span style=\"font-weight: bold;\">grow a robust, dynamic inventory of undeveloped properties</span><span data-contrast=\"none\">, enabling Northeast Ohio to be more competitive and offer more equitable opportunities when competing for strategic business investment projects. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"none\">The team knew they needed to focus on job hubs in Cuyahoga County and Summit County, with space specifically positioned for manufacturing, logistics, distribution, and light assembly facilities. Prior to site identification, Team NEO </span><span data-contrast=\"auto\">sought an experienced group of partners</span><span data-contrast=\"none\"> to aid in the </span><a href=\"https://allegrorealty.com/consulting-services/site-location-strategy\"><span data-contrast=\"none\">site location strategy</span></a><span data-contrast=\"none\">, selection, and vetting necessary for this initiative. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"none\">With more than 15 years of experience working together in real estate development strategies that support economic development, </span><a href=\"https://northeastohioregion.com/news/team-neo-announces-team-to-identify-site-opportunities-in-cuyahoga-and-summit-counties/\"><span data-contrast=\"none\">Allegro was selected</span></a><span data-contrast=\"none\">, along with Verdantas, McCabe Companies, and Chicago Title, to conduct site assessments and development analysis for Team NEO. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n","rss_body":"<p><span data-contrast=\"none\">Team NEO, a private, nonprofit economic development organization, set out with a goal to</span><span data-contrast=\"none\"> </span><span style=\"font-weight: bold;\">grow a robust, dynamic inventory of undeveloped properties</span><span data-contrast=\"none\">, enabling Northeast Ohio to be more competitive and offer more equitable opportunities when competing for strategic business investment projects. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"none\">The team knew they needed to focus on job hubs in Cuyahoga County and Summit County, with space specifically positioned for manufacturing, logistics, distribution, and light assembly facilities. Prior to site identification, Team NEO </span><span data-contrast=\"auto\">sought an experienced group of partners</span><span data-contrast=\"none\"> to aid in the </span><a href=\"https://allegrorealty.com/consulting-services/site-location-strategy\"><span data-contrast=\"none\">site location strategy</span></a><span data-contrast=\"none\">, selection, and vetting necessary for this initiative. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"none\">With more than 15 years of experience working together in real estate development strategies that support economic development, </span><a href=\"https://northeastohioregion.com/news/team-neo-announces-team-to-identify-site-opportunities-in-cuyahoga-and-summit-counties/\"><span data-contrast=\"none\">Allegro was selected</span></a><span data-contrast=\"none\">, along with Verdantas, McCabe Companies, and Chicago Title, to conduct site assessments and development analysis for Team NEO. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<!--more-->\n<h2>Understanding Site Location Needs and Objectives </h2>\n<p><span data-contrast=\"none\">For this project, it was important to find sites that </span><span style=\"font-weight: bold;\">weren't already being delivered by the private sector. </span><span data-contrast=\"none\">This criteria enabled the team to narrow their search to locations in Cuyahoga County and Summit County with a minimum of 10 acres in urban areas and 20 acres in suburban areas.</span><span data-ccp-props=\"{"201341983":0,"335559739":160,"335559740":259}\"> </span></p>\n<p><span data-contrast=\"none\">Because these sites are intended for industrial use, </span><strong><span data-contrast=\"none\">a </span></strong><span style=\"font-weight: bold;\">heavy emphasis was also put on infrastructure.</span><span data-contrast=\"none\"> </span><span data-contrast=\"none\">This included whether it was a high-capacity utility location, had roadway accessibility, and access to public transit. All of these factors, in combination with barriers like topography and wetlands, were taken into consideration as the team identified a long list of development opportunities. </span><span data-ccp-props=\"{"201341983":0,"335559739":160,"335559740":259}\"> </span></p>\n<h2>Identifying Potential New Development Opportunities </h2>\n<p><span data-contrast=\"none\">The team started the project by </span><span style=\"font-weight: bold;\">working with a group of stakeholders</span><span data-contrast=\"none\"> in each of the two counties to get a better understanding of potential sites. These stakeholders included economic developers at the county and city levels, chamber of commerce representatives, planning commission representatives, and entities that managed land banks.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></p>\n<p><span data-contrast=\"none\">Afterwards, the team conducted inverse site selection to generate a long list of development opportunities for Team NEO. Using GIS, or geographic information systems, the team identified high-capacity electric lines, water, sewer, natural gas and roadway infrastructure, large amounts of available land, and developmental barriers such as wetlands </span><span style=\"font-weight: bold;\">to form a long list of 15 potential sites per county.</span><strong><span data-contrast=\"none\"> </span></strong><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></p>\n<h2>Categorizing and Prioritizing Sites </h2>\n<p><span data-contrast=\"none\">Using a site scoring rubric, Allegro worked with project stakeholders to categorize the long list of sites into short-term (1-3 years from now), medium-term (3-5 years), and long-term (6-9 years) opportunities. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></p>\n<p><span data-contrast=\"none\">When categorizing each location, </span><strong><span data-contrast=\"none\">the following criteria were taken into consideration</span></strong><span data-contrast=\"none\">: </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></p>\n<ul>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\">Land size. </span></li>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"><a href=\"/articles/smart-commute-finding-a-space-that-suits-your-employees\" rel=\"noopener\">Drive time</a> from a highway. <br></span></li>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\">Power infrastructure and supply. </span></li>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"><a href=\"/articles/how-to-maximize-your-industrial-space-for-energy-efficiency-and-sustainability\" rel=\"noopener\">Environmental, social, and governance</a> (ESG) score, using Team NEO’s proprietary software. </span></li>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\">Total number of parcels and owners. </span></li>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\">Proximity to existing clusters of jobs and labor pools. </span></li>\n</ul>\n<p><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\">The top five short-term properties in each county were selected based on their alignment with this criteria and barriers to development, including the number of parcel owners or amount of developable acres. </span> </span></p>\n<h2>Conducting Comprehensive SWOT Analyses and Environmental Assessments </h2>\n<p aria-level=\"2\"><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span>W</span><span>ith the short-term properties presented and confirmed, Allegro, in partnership with </span></span><a href=\"https://www.verdantas.com/\" target=\"_blank\" rel=\"noreferrer noopener\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span data-ccp-charstyle=\"Hyperlink\">Verdantas</span></span></a><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span>, moved forward with conducting SWOT analyses and </span></span><a href=\"https://allegrorealty.com/articles/understanding-the-4-types-of-due-diligence-during-cre-disposition\" target=\"_blank\" rel=\"noreferrer noopener\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span data-ccp-charstyle=\"Hyperlink\">Phase I</span><span data-ccp-charstyle=\"Hyperlink\"> </span><span data-ccp-charstyle=\"Hyperlink\">en</span><span data-ccp-charstyle=\"Hyperlink\">v</span><span data-ccp-charstyle=\"Hyperlink\">ironmental </span><span data-ccp-charstyle=\"Hyperlink\">assessments</span></span></a><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span>.</span><span> The SWOT analysis criteria incl</span><span>uded</span><span>: </span></span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></p>\n<ul>\n<li><span data-contrast=\"auto\">Parcel ownership.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Site assembly.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Land acquisition potential.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Site conditions.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Industrial site access.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Developable acreage.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Rail access. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Tree clearing.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Flood planes.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Rights of way or easements.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Wetlands analysis.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Known environmental issues.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Geotechnical soil issues.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><a href=\"https://allegrorealty.com/articles/how-to-adjust-commercial-zoning-to-increase-value\"><span data-contrast=\"none\">Zoning</span></a><span data-contrast=\"auto\"> and surrounding land uses.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Utility infrastructure.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Infrastructure access and public transit.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Price per acre.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Access to labor and talent.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n</ul>\n<p><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\">Assessing these critical factors for each property ensured that Team NEO made the right choices when it came to selecting sites for new development. </span> </span></p>\n<h2>Positioning Northeast Ohio for Continued Growth </h2>\n<p><span data-contrast=\"auto\"><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\">With a short list of vetted, viable sites, Team NEO can now solicit the right developers and/or nonprofit entities to bring these properties to market. The developed land in both Cuyahoga County and Summit County is not only projected to significantly increase job opportunities in the area, but also boost the local economies overall. </span> </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<p style=\"font-weight: bold;\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\">Do you need support with </span><a href=\"https://allegrorealty.com/consulting-services/site-location-strategy\" target=\"_blank\" rel=\"noreferrer noopener\" style=\"font-weight: bold;\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\">site selection and location strategy</span></a><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span style=\"font-weight: bold;\">? Our team can help.</span><span> </span></span><a href=\"https://www.allegrorealty.com/contact/\" target=\"_blank\" rel=\"noreferrer noopener\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span data-ccp-charstyle=\"Hyperlink\">Contact us</span></span></a><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span> to discuss your needs today. </span></span><span data-ccp-props=\"{"201341983":0,"335559740":276}\"> </span><span data-contrast=\"auto\"></span> </p>\n<footer class=\"entry-footer\"></footer><!-- .entry-footer -->","enable_google_amp_output_override":false,"generate_json_ld_enabled":true,"use_featured_image":true,"html_title":"Northeast Ohio Site Selection Success Story | Allegro","blog_post_schedule_task_uid":null,"blog_publish_to_social_media_task":"DONE_NOT_SENT","blog_publish_instant_email_task_uid":null,"blog_publish_instant_email_campaign_id":null,"blog_publish_instant_email_retry_count":0,"keywords":[],"composition_id":0,"header":null,"password":null,"published_at":1695048183129,"head_html":null,"footer_html":null,"attached_stylesheets":[],"enable_domain_stylesheets":null,"include_default_custom_css":null,"past_mab_experiment_ids":[],"featured_image_alt_text":"undeveloped site","layout_sections":{},"enable_layout_stylesheets":null,"tweet":null,"tweet_at":null,"campaign_name":null,"campaign_utm":null,"meta_keywords":null,"meta_description":"Learn how strategic site selection helped Northeast Ohio expand opportunities for more industrial facilities and jobs.","tweet_immediately":false,"publish_immediately":true,"security_state":"NONE","scheduled_update_date":0,"placement_guids":[],"property_for_dynamic_page_title":null,"property_for_dynamic_page_slug":null,"property_for_dynamic_page_meta_description":null,"property_for_dynamic_page_featured_image":null,"property_for_dynamic_page_canonical_url":null,"preview_image_src":null,"legacy_blog_tabid":null,"legacy_post_guid":"","performable_variation_letter":null,"style_override_id":null,"has_user_changes":true,"css":{},"css_text":"","unpublished_at":0,"published_by_id":13028929,"allowed_slug_conflict":false,"link_rel_canonical_url":null,"page_redirected":false,"page_expiry_enabled":false,"page_expiry_date":null,"page_expiry_redirect_id":null,"page_expiry_redirect_url":null,"deleted_by":null,"state_when_deleted":null,"cloned_from":134439256447,"staged_from":null,"personas":[],"compose_body":null,"featured_image":"https://6374170.fs1.hubspotusercontent-na1.net/hubfs/6374170/case-study-team-NEO-featured-image.jpg","featured_image_width":900,"featured_image_height":598,"publish_timezone_offset":null,"theme_settings_values":null,"last_edit_session_id":null,"last_edit_update_id":null}, jsonBodyAsString={"public_access_rules_enabled":false,"public_access_rules":[],"tag_ids":[77267670076,77269685157,77269686306,77269686364,77269686404,77270935654,77570820764],"topic_ids":[77267670076,77269685157,77269686306,77269686364,77269686404,77270935654,77570820764],"post_summary":"<p><span data-contrast=\"none\">Team NEO, a private, nonprofit economic development organization, set out with a goal to</span><span data-contrast=\"none\"> </span><span style=\"font-weight: bold;\">grow a robust, dynamic inventory of undeveloped properties</span><span data-contrast=\"none\">, enabling Northeast Ohio to be more competitive and offer more equitable opportunities when competing for strategic business investment projects. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"none\">The team knew they needed to focus on job hubs in Cuyahoga County and Summit County, with space specifically positioned for manufacturing, logistics, distribution, and light assembly facilities. Prior to site identification, Team NEO </span><span data-contrast=\"auto\">sought an experienced group of partners</span><span data-contrast=\"none\"> to aid in the </span><a href=\"https://allegrorealty.com/consulting-services/site-location-strategy\"><span data-contrast=\"none\">site location strategy</span></a><span data-contrast=\"none\">, selection, and vetting necessary for this initiative. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"none\">With more than 15 years of experience working together in real estate development strategies that support economic development, </span><a href=\"https://northeastohioregion.com/news/team-neo-announces-team-to-identify-site-opportunities-in-cuyahoga-and-summit-counties/\"><span data-contrast=\"none\">Allegro was selected</span></a><span data-contrast=\"none\">, along with Verdantas, McCabe Companies, and Chicago Title, to conduct site assessments and development analysis for Team NEO. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n","post_body":"<p><span data-contrast=\"none\">Team NEO, a private, nonprofit economic development organization, set out with a goal to</span><span data-contrast=\"none\"> </span><span style=\"font-weight: bold;\">grow a robust, dynamic inventory of undeveloped properties</span><span data-contrast=\"none\">, enabling Northeast Ohio to be more competitive and offer more equitable opportunities when competing for strategic business investment projects. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"none\">The team knew they needed to focus on job hubs in Cuyahoga County and Summit County, with space specifically positioned for manufacturing, logistics, distribution, and light assembly facilities. Prior to site identification, Team NEO </span><span data-contrast=\"auto\">sought an experienced group of partners</span><span data-contrast=\"none\"> to aid in the </span><a href=\"https://allegrorealty.com/consulting-services/site-location-strategy\"><span data-contrast=\"none\">site location strategy</span></a><span data-contrast=\"none\">, selection, and vetting necessary for this initiative. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"none\">With more than 15 years of experience working together in real estate development strategies that support economic development, </span><a href=\"https://northeastohioregion.com/news/team-neo-announces-team-to-identify-site-opportunities-in-cuyahoga-and-summit-counties/\"><span data-contrast=\"none\">Allegro was selected</span></a><span data-contrast=\"none\">, along with Verdantas, McCabe Companies, and Chicago Title, to conduct site assessments and development analysis for Team NEO. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<!--more-->\n<h2>Understanding Site Location Needs and Objectives </h2>\n<p><span data-contrast=\"none\">For this project, it was important to find sites that </span><span style=\"font-weight: bold;\">weren't already being delivered by the private sector. </span><span data-contrast=\"none\">This criteria enabled the team to narrow their search to locations in Cuyahoga County and Summit County with a minimum of 10 acres in urban areas and 20 acres in suburban areas.</span><span data-ccp-props=\"{"201341983":0,"335559739":160,"335559740":259}\"> </span></p>\n<p><span data-contrast=\"none\">Because these sites are intended for industrial use, </span><strong><span data-contrast=\"none\">a </span></strong><span style=\"font-weight: bold;\">heavy emphasis was also put on infrastructure.</span><span data-contrast=\"none\"> </span><span data-contrast=\"none\">This included whether it was a high-capacity utility location, had roadway accessibility, and access to public transit. All of these factors, in combination with barriers like topography and wetlands, were taken into consideration as the team identified a long list of development opportunities. </span><span data-ccp-props=\"{"201341983":0,"335559739":160,"335559740":259}\"> </span></p>\n<h2>Identifying Potential New Development Opportunities </h2>\n<p><span data-contrast=\"none\">The team started the project by </span><span style=\"font-weight: bold;\">working with a group of stakeholders</span><span data-contrast=\"none\"> in each of the two counties to get a better understanding of potential sites. These stakeholders included economic developers at the county and city levels, chamber of commerce representatives, planning commission representatives, and entities that managed land banks.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></p>\n<p><span data-contrast=\"none\">Afterwards, the team conducted inverse site selection to generate a long list of development opportunities for Team NEO. Using GIS, or geographic information systems, the team identified high-capacity electric lines, water, sewer, natural gas and roadway infrastructure, large amounts of available land, and developmental barriers such as wetlands </span><span style=\"font-weight: bold;\">to form a long list of 15 potential sites per county.</span><strong><span data-contrast=\"none\"> </span></strong><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></p>\n<h2>Categorizing and Prioritizing Sites </h2>\n<p><span data-contrast=\"none\">Using a site scoring rubric, Allegro worked with project stakeholders to categorize the long list of sites into short-term (1-3 years from now), medium-term (3-5 years), and long-term (6-9 years) opportunities. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></p>\n<p><span data-contrast=\"none\">When categorizing each location, </span><strong><span data-contrast=\"none\">the following criteria were taken into consideration</span></strong><span data-contrast=\"none\">: </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></p>\n<ul>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\">Land size. </span></li>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"><a href=\"/articles/smart-commute-finding-a-space-that-suits-your-employees\" rel=\"noopener\">Drive time</a> from a highway. <br></span></li>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\">Power infrastructure and supply. </span></li>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"><a href=\"/articles/how-to-maximize-your-industrial-space-for-energy-efficiency-and-sustainability\" rel=\"noopener\">Environmental, social, and governance</a> (ESG) score, using Team NEO’s proprietary software. </span></li>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\">Total number of parcels and owners. </span></li>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\">Proximity to existing clusters of jobs and labor pools. </span></li>\n</ul>\n<p><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\">The top five short-term properties in each county were selected based on their alignment with this criteria and barriers to development, including the number of parcel owners or amount of developable acres. </span> </span></p>\n<h2>Conducting Comprehensive SWOT Analyses and Environmental Assessments </h2>\n<p aria-level=\"2\"><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span>W</span><span>ith the short-term properties presented and confirmed, Allegro, in partnership with </span></span><a href=\"https://www.verdantas.com/\" target=\"_blank\" rel=\"noreferrer noopener\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span data-ccp-charstyle=\"Hyperlink\">Verdantas</span></span></a><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span>, moved forward with conducting SWOT analyses and </span></span><a href=\"https://allegrorealty.com/articles/understanding-the-4-types-of-due-diligence-during-cre-disposition\" target=\"_blank\" rel=\"noreferrer noopener\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span data-ccp-charstyle=\"Hyperlink\">Phase I</span><span data-ccp-charstyle=\"Hyperlink\"> </span><span data-ccp-charstyle=\"Hyperlink\">en</span><span data-ccp-charstyle=\"Hyperlink\">v</span><span data-ccp-charstyle=\"Hyperlink\">ironmental </span><span data-ccp-charstyle=\"Hyperlink\">assessments</span></span></a><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span>.</span><span> The SWOT analysis criteria incl</span><span>uded</span><span>: </span></span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></p>\n<ul>\n<li><span data-contrast=\"auto\">Parcel ownership.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Site assembly.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Land acquisition potential.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Site conditions.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Industrial site access.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Developable acreage.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Rail access. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Tree clearing.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Flood planes.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Rights of way or easements.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Wetlands analysis.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Known environmental issues.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Geotechnical soil issues.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><a href=\"https://allegrorealty.com/articles/how-to-adjust-commercial-zoning-to-increase-value\"><span data-contrast=\"none\">Zoning</span></a><span data-contrast=\"auto\"> and surrounding land uses.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Utility infrastructure.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Infrastructure access and public transit.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Price per acre.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Access to labor and talent.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n</ul>\n<p><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\">Assessing these critical factors for each property ensured that Team NEO made the right choices when it came to selecting sites for new development. </span> </span></p>\n<h2>Positioning Northeast Ohio for Continued Growth </h2>\n<p><span data-contrast=\"auto\"><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\">With a short list of vetted, viable sites, Team NEO can now solicit the right developers and/or nonprofit entities to bring these properties to market. The developed land in both Cuyahoga County and Summit County is not only projected to significantly increase job opportunities in the area, but also boost the local economies overall. </span> </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<p style=\"font-weight: bold;\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\">Do you need support with </span><a href=\"https://allegrorealty.com/consulting-services/site-location-strategy\" target=\"_blank\" rel=\"noreferrer noopener\" style=\"font-weight: bold;\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\">site selection and location strategy</span></a><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span style=\"font-weight: bold;\">? Our team can help.</span><span> </span></span><a href=\"https://www.allegrorealty.com/contact/\" target=\"_blank\" rel=\"noreferrer noopener\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span data-ccp-charstyle=\"Hyperlink\">Contact us</span></span></a><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span> to discuss your needs today. </span></span><span data-ccp-props=\"{"201341983":0,"335559740":276}\"> </span><span data-contrast=\"auto\"></span> </p>\n<footer class=\"entry-footer\"></footer><!-- .entry-footer -->","rss_summary":"<p><span data-contrast=\"none\">Team NEO, a private, nonprofit economic development organization, set out with a goal to</span><span data-contrast=\"none\"> </span><span style=\"font-weight: bold;\">grow a robust, dynamic inventory of undeveloped properties</span><span data-contrast=\"none\">, enabling Northeast Ohio to be more competitive and offer more equitable opportunities when competing for strategic business investment projects. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"none\">The team knew they needed to focus on job hubs in Cuyahoga County and Summit County, with space specifically positioned for manufacturing, logistics, distribution, and light assembly facilities. Prior to site identification, Team NEO </span><span data-contrast=\"auto\">sought an experienced group of partners</span><span data-contrast=\"none\"> to aid in the </span><a href=\"https://allegrorealty.com/consulting-services/site-location-strategy\"><span data-contrast=\"none\">site location strategy</span></a><span data-contrast=\"none\">, selection, and vetting necessary for this initiative. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"none\">With more than 15 years of experience working together in real estate development strategies that support economic development, </span><a href=\"https://northeastohioregion.com/news/team-neo-announces-team-to-identify-site-opportunities-in-cuyahoga-and-summit-counties/\"><span data-contrast=\"none\">Allegro was selected</span></a><span data-contrast=\"none\">, along with Verdantas, McCabe Companies, and Chicago Title, to conduct site assessments and development analysis for Team NEO. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n","rss_body":"<p><span data-contrast=\"none\">Team NEO, a private, nonprofit economic development organization, set out with a goal to</span><span data-contrast=\"none\"> </span><span style=\"font-weight: bold;\">grow a robust, dynamic inventory of undeveloped properties</span><span data-contrast=\"none\">, enabling Northeast Ohio to be more competitive and offer more equitable opportunities when competing for strategic business investment projects. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"none\">The team knew they needed to focus on job hubs in Cuyahoga County and Summit County, with space specifically positioned for manufacturing, logistics, distribution, and light assembly facilities. Prior to site identification, Team NEO </span><span data-contrast=\"auto\">sought an experienced group of partners</span><span data-contrast=\"none\"> to aid in the </span><a href=\"https://allegrorealty.com/consulting-services/site-location-strategy\"><span data-contrast=\"none\">site location strategy</span></a><span data-contrast=\"none\">, selection, and vetting necessary for this initiative. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<p><span data-contrast=\"none\">With more than 15 years of experience working together in real estate development strategies that support economic development, </span><a href=\"https://northeastohioregion.com/news/team-neo-announces-team-to-identify-site-opportunities-in-cuyahoga-and-summit-counties/\"><span data-contrast=\"none\">Allegro was selected</span></a><span data-contrast=\"none\">, along with Verdantas, McCabe Companies, and Chicago Title, to conduct site assessments and development analysis for Team NEO. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<!--more-->\n<h2>Understanding Site Location Needs and Objectives </h2>\n<p><span data-contrast=\"none\">For this project, it was important to find sites that </span><span style=\"font-weight: bold;\">weren't already being delivered by the private sector. </span><span data-contrast=\"none\">This criteria enabled the team to narrow their search to locations in Cuyahoga County and Summit County with a minimum of 10 acres in urban areas and 20 acres in suburban areas.</span><span data-ccp-props=\"{"201341983":0,"335559739":160,"335559740":259}\"> </span></p>\n<p><span data-contrast=\"none\">Because these sites are intended for industrial use, </span><strong><span data-contrast=\"none\">a </span></strong><span style=\"font-weight: bold;\">heavy emphasis was also put on infrastructure.</span><span data-contrast=\"none\"> </span><span data-contrast=\"none\">This included whether it was a high-capacity utility location, had roadway accessibility, and access to public transit. All of these factors, in combination with barriers like topography and wetlands, were taken into consideration as the team identified a long list of development opportunities. </span><span data-ccp-props=\"{"201341983":0,"335559739":160,"335559740":259}\"> </span></p>\n<h2>Identifying Potential New Development Opportunities </h2>\n<p><span data-contrast=\"none\">The team started the project by </span><span style=\"font-weight: bold;\">working with a group of stakeholders</span><span data-contrast=\"none\"> in each of the two counties to get a better understanding of potential sites. These stakeholders included economic developers at the county and city levels, chamber of commerce representatives, planning commission representatives, and entities that managed land banks.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></p>\n<p><span data-contrast=\"none\">Afterwards, the team conducted inverse site selection to generate a long list of development opportunities for Team NEO. Using GIS, or geographic information systems, the team identified high-capacity electric lines, water, sewer, natural gas and roadway infrastructure, large amounts of available land, and developmental barriers such as wetlands </span><span style=\"font-weight: bold;\">to form a long list of 15 potential sites per county.</span><strong><span data-contrast=\"none\"> </span></strong><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></p>\n<h2>Categorizing and Prioritizing Sites </h2>\n<p><span data-contrast=\"none\">Using a site scoring rubric, Allegro worked with project stakeholders to categorize the long list of sites into short-term (1-3 years from now), medium-term (3-5 years), and long-term (6-9 years) opportunities. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></p>\n<p><span data-contrast=\"none\">When categorizing each location, </span><strong><span data-contrast=\"none\">the following criteria were taken into consideration</span></strong><span data-contrast=\"none\">: </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></p>\n<ul>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\">Land size. </span></li>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"><a href=\"/articles/smart-commute-finding-a-space-that-suits-your-employees\" rel=\"noopener\">Drive time</a> from a highway. <br></span></li>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\">Power infrastructure and supply. </span></li>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"><a href=\"/articles/how-to-maximize-your-industrial-space-for-energy-efficiency-and-sustainability\" rel=\"noopener\">Environmental, social, and governance</a> (ESG) score, using Team NEO’s proprietary software. </span></li>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\">Total number of parcels and owners. </span></li>\n<li><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\">Proximity to existing clusters of jobs and labor pools. </span></li>\n</ul>\n<p><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\">The top five short-term properties in each county were selected based on their alignment with this criteria and barriers to development, including the number of parcel owners or amount of developable acres. </span> </span></p>\n<h2>Conducting Comprehensive SWOT Analyses and Environmental Assessments </h2>\n<p aria-level=\"2\"><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span>W</span><span>ith the short-term properties presented and confirmed, Allegro, in partnership with </span></span><a href=\"https://www.verdantas.com/\" target=\"_blank\" rel=\"noreferrer noopener\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span data-ccp-charstyle=\"Hyperlink\">Verdantas</span></span></a><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span>, moved forward with conducting SWOT analyses and </span></span><a href=\"https://allegrorealty.com/articles/understanding-the-4-types-of-due-diligence-during-cre-disposition\" target=\"_blank\" rel=\"noreferrer noopener\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span data-ccp-charstyle=\"Hyperlink\">Phase I</span><span data-ccp-charstyle=\"Hyperlink\"> </span><span data-ccp-charstyle=\"Hyperlink\">en</span><span data-ccp-charstyle=\"Hyperlink\">v</span><span data-ccp-charstyle=\"Hyperlink\">ironmental </span><span data-ccp-charstyle=\"Hyperlink\">assessments</span></span></a><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\"><span>.</span><span> The SWOT analysis criteria incl</span><span>uded</span><span>: </span></span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></p>\n<ul>\n<li><span data-contrast=\"auto\">Parcel ownership.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Site assembly.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Land acquisition potential.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Site conditions.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Industrial site access.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Developable acreage.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Rail access. </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Tree clearing.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Flood planes.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Rights of way or easements.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Wetlands analysis.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Known environmental issues.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Geotechnical soil issues.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><a href=\"https://allegrorealty.com/articles/how-to-adjust-commercial-zoning-to-increase-value\"><span data-contrast=\"none\">Zoning</span></a><span data-contrast=\"auto\"> and surrounding land uses.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Utility infrastructure.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Infrastructure access and public transit.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Price per acre.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n<li><span data-contrast=\"auto\">Access to labor and talent.</span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"> </span></li>\n</ul>\n<p><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}\"><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\">Assessing these critical factors for each property ensured that Team NEO made the right choices when it came to selecting sites for new development. </span> </span></p>\n<h2>Positioning Northeast Ohio for Continued Growth </h2>\n<p><span data-contrast=\"auto\"><span data-contrast=\"auto\" xml:lang=\"EN\" lang=\"EN\">With a short list of vetted, viable sites, Team NEO can now solicit the right developers and/or nonprofit entities to bring these properties to market. The developed land in both Cuyahoga County and Summit County is not only projected to significantly increase job opportunities in the area, but also boost the local economies overall. </span> </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}\"> </span></p>\n<p style=\"font-weight: bold;\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\">Do you need support with </span><a href=\"https://allegrorealty.com/consulting-services/site-location-strategy\" target=\"_blank\" rel=\"noreferrer noopener\" style=\"font-weight: bold;\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\">site selection and location strategy</span></a><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span style=\"font-weight: bold;\">? Our team can help.</span><span> </span></span><a href=\"https://www.allegrorealty.com/contact/\" target=\"_blank\" rel=\"noreferrer noopener\"><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span data-ccp-charstyle=\"Hyperlink\">Contact us</span></span></a><span data-contrast=\"none\" xml:lang=\"EN\" lang=\"EN\"><span> to discuss your needs today. </span></span><span data-ccp-props=\"{"201341983":0,"335559740":276}\"> </span><span data-contrast=\"auto\"></span> </p>\n<footer class=\"entry-footer\"></footer><!-- .entry-footer -->","enable_google_amp_output_override":false,"generate_json_ld_enabled":true,"use_featured_image":true,"html_title":"Northeast Ohio Site Selection Success Story | Allegro","blog_post_schedule_task_uid":null,"blog_publish_to_social_media_task":"DONE_NOT_SENT","blog_publish_instant_email_task_uid":null,"blog_publish_instant_email_campaign_id":null,"blog_publish_instant_email_retry_count":0,"keywords":[],"composition_id":0,"header":null,"password":null,"published_at":1695048183129,"head_html":null,"footer_html":null,"attached_stylesheets":[],"enable_domain_stylesheets":null,"include_default_custom_css":null,"past_mab_experiment_ids":[],"featured_image_alt_text":"undeveloped site","layout_sections":{},"enable_layout_stylesheets":null,"tweet":null,"tweet_at":null,"campaign_name":null,"campaign_utm":null,"meta_keywords":null,"meta_description":"Learn how strategic site selection helped Northeast Ohio expand opportunities for more industrial facilities and jobs.","tweet_immediately":false,"publish_immediately":true,"security_state":"NONE","scheduled_update_date":0,"placement_guids":[],"property_for_dynamic_page_title":null,"property_for_dynamic_page_slug":null,"property_for_dynamic_page_meta_description":null,"property_for_dynamic_page_featured_image":null,"property_for_dynamic_page_canonical_url":null,"preview_image_src":null,"legacy_blog_tabid":null,"legacy_post_guid":"","performable_variation_letter":null,"style_override_id":null,"has_user_changes":true,"css":{},"css_text":"","unpublished_at":0,"published_by_id":13028929,"allowed_slug_conflict":false,"link_rel_canonical_url":null,"page_redirected":false,"page_expiry_enabled":false,"page_expiry_date":null,"page_expiry_redirect_id":null,"page_expiry_redirect_url":null,"deleted_by":null,"state_when_deleted":null,"cloned_from":134439256447,"staged_from":null,"personas":[],"compose_body":null,"featured_image":"https://6374170.fs1.hubspotusercontent-na1.net/hubfs/6374170/case-study-team-NEO-featured-image.jpg","featured_image_width":900,"featured_image_height":598,"publish_timezone_offset":null,"theme_settings_values":null,"last_edit_session_id":null,"last_edit_update_id":null}, jsonBodyMap={tag_ids=[77267670076, 77269685157, 77269686306, 77269686364, 77269686404, 77270935654, 77570820764], featured_image_alt_text=undeveloped site, layout_sections={}, blog_publish_instant_email_retry_count=0, css={}, topic_ids=[77267670076, 77269685157, 77269686306, 77269686364, 77269686404, 77270935654, 77570820764], css_text=, featured_image_width=900, featured_image_height=598, featured_image=https://6374170.fs1.hubspotusercontent-na1.net/hubfs/6374170/case-study-team-NEO-featured-image.jpg, html_title=Northeast Ohio Site Selection Success Story | Allegro, generate_json_ld_enabled=true, has_user_changes=true, attached_stylesheets=[], composition_id=0, allowed_slug_conflict=false, enable_google_amp_output_override=false, blog_publish_to_social_media_task=DONE_NOT_SENT, cloned_from=134439256447, published_by_id=13028929}, keywords=[], label=Strategic Site Selection Increases Northeast Ohio Competitiveness and Equitable Business Opportunities, language=en, languageVariant=false, layoutSections={}, legacyBlogTabid=null, legacyId=null, legacyPostGuid=, linkRelCanonicalUrl=null, linkRelCanonicalUrlColumn=null, listTemplate=, liveDomain=allegrorealty.com, mab=false, mabExperimentId=null, mabMaster=false, mabVariant=false, majorVersion=0, metaDescription=Learn how strategic site selection helped Northeast Ohio expand opportunities for more industrial facilities and jobs., metaKeywords=null, migratedLegacyPost=false, name=Strategic Site Selection Increases Northeast Ohio Competitiveness and Equitable Business Opportunities, nextPostFeaturedImage=null, nextPostFeaturedImageAltText=null, nextPostName=null, nextPostSlug=null, onlyIdSlug=false, pageExpiryDate=null, pageExpiryDateColumn=null, pageExpiryRedirectId=null, pageExpiryRedirectIdColumn=null, pageExpiryRedirectUrl=null, pageExpiryRedirectUrlColumn=null, pageRedirectedColumn=false, pageTitle=Northeast Ohio Site Selection Success Story | Allegro, parentBlog='Case Studies' blog (77571626139) of hub id 6374170, password=null, passwordColumn=null, pastMabExperimentIds=[], performableGuid=null, performableVariationLetter=null, permissionedObjectType=Optional[BLOG_POST], personas=[], placementGuids=[], portableKey=null, portalId=6374170, position=null, postBody=<p><span data-contrast="none">Team NEO, a private, nonprofit economic development organization, set out with a goal to</span><span data-contrast="none"> </span><span style="font-weight: bold;">grow a robust, dynamic inventory of undeveloped properties</span><span data-contrast="none">, enabling Northeast Ohio to be more competitive and offer more equitable opportunities when competing for strategic business investment projects. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<p><span data-contrast="none">The team knew they needed to focus on job hubs in Cuyahoga County and Summit County, with space specifically positioned for manufacturing, logistics, distribution, and light assembly facilities. Prior to site identification, Team NEO </span><span data-contrast="auto">sought an experienced group of partners</span><span data-contrast="none"> to aid in the </span><a href="https://allegrorealty.com/consulting-services/site-location-strategy"><span data-contrast="none">site location strategy</span></a><span data-contrast="none">, selection, and vetting necessary for this initiative. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<p><span data-contrast="none">With more than 15 years of experience working together in real estate development strategies that support economic development, </span><a href="https://northeastohioregion.com/news/team-neo-announces-team-to-identify-site-opportunities-in-cuyahoga-and-summit-counties/"><span data-contrast="none">Allegro was selected</span></a><span data-contrast="none">, along with Verdantas, McCabe Companies, and Chicago Title, to conduct site assessments and development analysis for Team NEO. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
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<h2>Understanding Site Location Needs and Objectives </h2>
<p><span data-contrast="none">For this project, it was important to find sites that </span><span style="font-weight: bold;">weren't already being delivered by the private sector. </span><span data-contrast="none">This criteria enabled the team to narrow their search to locations in Cuyahoga County and Summit County with a minimum of 10 acres in urban areas and 20 acres in suburban areas.</span><span data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
<p><span data-contrast="none">Because these sites are intended for industrial use, </span><strong><span data-contrast="none">a </span></strong><span style="font-weight: bold;">heavy emphasis was also put on infrastructure.</span><span data-contrast="none"> </span><span data-contrast="none">This included whether it was a high-capacity utility location, had roadway accessibility, and access to public transit. All of these factors, in combination with barriers like topography and wetlands, were taken into consideration as the team identified a long list of development opportunities. </span><span data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
<h2>Identifying Potential New Development Opportunities </h2>
<p><span data-contrast="none">The team started the project by </span><span style="font-weight: bold;">working with a group of stakeholders</span><span data-contrast="none"> in each of the two counties to get a better understanding of potential sites. These stakeholders included economic developers at the county and city levels, chamber of commerce representatives, planning commission representatives, and entities that managed land banks.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></p>
<p><span data-contrast="none">Afterwards, the team conducted inverse site selection to generate a long list of development opportunities for Team NEO. Using GIS, or geographic information systems, the team identified high-capacity electric lines, water, sewer, natural gas and roadway infrastructure, large amounts of available land, and developmental barriers such as wetlands </span><span style="font-weight: bold;">to form a long list of 15 potential sites per county.</span><strong><span data-contrast="none"> </span></strong><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></p>
<h2>Categorizing and Prioritizing Sites </h2>
<p><span data-contrast="none">Using a site scoring rubric, Allegro worked with project stakeholders to categorize the long list of sites into short-term (1-3 years from now), medium-term (3-5 years), and long-term (6-9 years) opportunities. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></p>
<p><span data-contrast="none">When categorizing each location, </span><strong><span data-contrast="none">the following criteria were taken into consideration</span></strong><span data-contrast="none">: </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></p>
<ul>
<li><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}">Land size. </span></li>
<li><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"><a href="/articles/smart-commute-finding-a-space-that-suits-your-employees" rel="noopener">Drive time</a> from a highway. <br></span></li>
<li><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}">Power infrastructure and supply. </span></li>
<li><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"><a href="/articles/how-to-maximize-your-industrial-space-for-energy-efficiency-and-sustainability" rel="noopener">Environmental, social, and governance</a> (ESG) score, using Team NEO’s proprietary software. </span></li>
<li><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}">Total number of parcels and owners. </span></li>
<li><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}">Proximity to existing clusters of jobs and labor pools. </span></li>
</ul>
<p><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"><span data-contrast="none" xml:lang="EN" lang="EN">The top five short-term properties in each county were selected based on their alignment with this criteria and barriers to development, including the number of parcel owners or amount of developable acres. </span> </span></p>
<h2>Conducting Comprehensive SWOT Analyses and Environmental Assessments </h2>
<p aria-level="2"><span data-contrast="auto" xml:lang="EN" lang="EN"><span>W</span><span>ith the short-term properties presented and confirmed, Allegro, in partnership with </span></span><a href="https://www.verdantas.com/" target="_blank" rel="noreferrer noopener"><span data-contrast="none" xml:lang="EN" lang="EN"><span data-ccp-charstyle="Hyperlink">Verdantas</span></span></a><span data-contrast="auto" xml:lang="EN" lang="EN"><span>, moved forward with conducting SWOT analyses and </span></span><a href="https://allegrorealty.com/articles/understanding-the-4-types-of-due-diligence-during-cre-disposition" target="_blank" rel="noreferrer noopener"><span data-contrast="none" xml:lang="EN" lang="EN"><span data-ccp-charstyle="Hyperlink">Phase I</span><span data-ccp-charstyle="Hyperlink"> </span><span data-ccp-charstyle="Hyperlink">en</span><span data-ccp-charstyle="Hyperlink">v</span><span data-ccp-charstyle="Hyperlink">ironmental </span><span data-ccp-charstyle="Hyperlink">assessments</span></span></a><span data-contrast="auto" xml:lang="EN" lang="EN"><span>.</span><span> The SWOT analysis criteria incl</span><span>uded</span><span>: </span></span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></p>
<ul>
<li><span data-contrast="auto">Parcel ownership.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Site assembly.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Land acquisition potential.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Site conditions.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Industrial site access.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Developable acreage.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Rail access. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Tree clearing.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Flood planes.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Rights of way or easements.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Wetlands analysis.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Known environmental issues.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Geotechnical soil issues.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><a href="https://allegrorealty.com/articles/how-to-adjust-commercial-zoning-to-increase-value"><span data-contrast="none">Zoning</span></a><span data-contrast="auto"> and surrounding land uses.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Utility infrastructure.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Infrastructure access and public transit.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Price per acre.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Access to labor and talent.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
</ul>
<p><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"><span data-contrast="auto" xml:lang="EN" lang="EN">Assessing these critical factors for each property ensured that Team NEO made the right choices when it came to selecting sites for new development. </span> </span></p>
<h2>Positioning Northeast Ohio for Continued Growth </h2>
<p><span data-contrast="auto"><span data-contrast="auto" xml:lang="EN" lang="EN">With a short list of vetted, viable sites, Team NEO can now solicit the right developers and/or nonprofit entities to bring these properties to market. The developed land in both Cuyahoga County and Summit County is not only projected to significantly increase job opportunities in the area, but also boost the local economies overall. </span> </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<p style="font-weight: bold;"><span data-contrast="none" xml:lang="EN" lang="EN">Do you need support with </span><a href="https://allegrorealty.com/consulting-services/site-location-strategy" target="_blank" rel="noreferrer noopener" style="font-weight: bold;"><span data-contrast="none" xml:lang="EN" lang="EN">site selection and location strategy</span></a><span data-contrast="none" xml:lang="EN" lang="EN"><span style="font-weight: bold;">? Our team can help.</span><span> </span></span><a href="https://www.allegrorealty.com/contact/" target="_blank" rel="noreferrer noopener"><span data-contrast="none" xml:lang="EN" lang="EN"><span data-ccp-charstyle="Hyperlink">Contact us</span></span></a><span data-contrast="none" xml:lang="EN" lang="EN"><span> to discuss your needs today. </span></span><span data-ccp-props="{"201341983":0,"335559740":276}"> </span><span data-contrast="auto"></span> </p>
<footer class="entry-footer"></footer><!-- .entry-footer -->, postBodyRss=<p><span data-contrast="none">Team NEO, a private, nonprofit economic development organization, set out with a goal to</span><span data-contrast="none"> </span><span style="font-weight: bold;">grow a robust, dynamic inventory of undeveloped properties</span><span data-contrast="none">, enabling Northeast Ohio to be more competitive and offer more equitable opportunities when competing for strategic business investment projects. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<p><span data-contrast="none">The team knew they needed to focus on job hubs in Cuyahoga County and Summit County, with space specifically positioned for manufacturing, logistics, distribution, and light assembly facilities. Prior to site identification, Team NEO </span><span data-contrast="auto">sought an experienced group of partners</span><span data-contrast="none"> to aid in the </span><a href="https://allegrorealty.com/consulting-services/site-location-strategy"><span data-contrast="none">site location strategy</span></a><span data-contrast="none">, selection, and vetting necessary for this initiative. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<p><span data-contrast="none">With more than 15 years of experience working together in real estate development strategies that support economic development, </span><a href="https://northeastohioregion.com/news/team-neo-announces-team-to-identify-site-opportunities-in-cuyahoga-and-summit-counties/"><span data-contrast="none">Allegro was selected</span></a><span data-contrast="none">, along with Verdantas, McCabe Companies, and Chicago Title, to conduct site assessments and development analysis for Team NEO. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<!--more-->
<h2>Understanding Site Location Needs and Objectives </h2>
<p><span data-contrast="none">For this project, it was important to find sites that </span><span style="font-weight: bold;">weren't already being delivered by the private sector. </span><span data-contrast="none">This criteria enabled the team to narrow their search to locations in Cuyahoga County and Summit County with a minimum of 10 acres in urban areas and 20 acres in suburban areas.</span><span data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
<p><span data-contrast="none">Because these sites are intended for industrial use, </span><strong><span data-contrast="none">a </span></strong><span style="font-weight: bold;">heavy emphasis was also put on infrastructure.</span><span data-contrast="none"> </span><span data-contrast="none">This included whether it was a high-capacity utility location, had roadway accessibility, and access to public transit. All of these factors, in combination with barriers like topography and wetlands, were taken into consideration as the team identified a long list of development opportunities. </span><span data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
<h2>Identifying Potential New Development Opportunities </h2>
<p><span data-contrast="none">The team started the project by </span><span style="font-weight: bold;">working with a group of stakeholders</span><span data-contrast="none"> in each of the two counties to get a better understanding of potential sites. These stakeholders included economic developers at the county and city levels, chamber of commerce representatives, planning commission representatives, and entities that managed land banks.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></p>
<p><span data-contrast="none">Afterwards, the team conducted inverse site selection to generate a long list of development opportunities for Team NEO. Using GIS, or geographic information systems, the team identified high-capacity electric lines, water, sewer, natural gas and roadway infrastructure, large amounts of available land, and developmental barriers such as wetlands </span><span style="font-weight: bold;">to form a long list of 15 potential sites per county.</span><strong><span data-contrast="none"> </span></strong><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></p>
<h2>Categorizing and Prioritizing Sites </h2>
<p><span data-contrast="none">Using a site scoring rubric, Allegro worked with project stakeholders to categorize the long list of sites into short-term (1-3 years from now), medium-term (3-5 years), and long-term (6-9 years) opportunities. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></p>
<p><span data-contrast="none">When categorizing each location, </span><strong><span data-contrast="none">the following criteria were taken into consideration</span></strong><span data-contrast="none">: </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></p>
<ul>
<li><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}">Land size. </span></li>
<li><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"><a href="/articles/smart-commute-finding-a-space-that-suits-your-employees" rel="noopener">Drive time</a> from a highway. <br></span></li>
<li><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}">Power infrastructure and supply. </span></li>
<li><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"><a href="/articles/how-to-maximize-your-industrial-space-for-energy-efficiency-and-sustainability" rel="noopener">Environmental, social, and governance</a> (ESG) score, using Team NEO’s proprietary software. </span></li>
<li><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}">Total number of parcels and owners. </span></li>
<li><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}">Proximity to existing clusters of jobs and labor pools. </span></li>
</ul>
<p><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"><span data-contrast="none" xml:lang="EN" lang="EN">The top five short-term properties in each county were selected based on their alignment with this criteria and barriers to development, including the number of parcel owners or amount of developable acres. </span> </span></p>
<h2>Conducting Comprehensive SWOT Analyses and Environmental Assessments </h2>
<p aria-level="2"><span data-contrast="auto" xml:lang="EN" lang="EN"><span>W</span><span>ith the short-term properties presented and confirmed, Allegro, in partnership with </span></span><a href="https://www.verdantas.com/" target="_blank" rel="noreferrer noopener"><span data-contrast="none" xml:lang="EN" lang="EN"><span data-ccp-charstyle="Hyperlink">Verdantas</span></span></a><span data-contrast="auto" xml:lang="EN" lang="EN"><span>, moved forward with conducting SWOT analyses and </span></span><a href="https://allegrorealty.com/articles/understanding-the-4-types-of-due-diligence-during-cre-disposition" target="_blank" rel="noreferrer noopener"><span data-contrast="none" xml:lang="EN" lang="EN"><span data-ccp-charstyle="Hyperlink">Phase I</span><span data-ccp-charstyle="Hyperlink"> </span><span data-ccp-charstyle="Hyperlink">en</span><span data-ccp-charstyle="Hyperlink">v</span><span data-ccp-charstyle="Hyperlink">ironmental </span><span data-ccp-charstyle="Hyperlink">assessments</span></span></a><span data-contrast="auto" xml:lang="EN" lang="EN"><span>.</span><span> The SWOT analysis criteria incl</span><span>uded</span><span>: </span></span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></p>
<ul>
<li><span data-contrast="auto">Parcel ownership.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Site assembly.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Land acquisition potential.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Site conditions.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Industrial site access.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Developable acreage.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Rail access. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Tree clearing.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Flood planes.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Rights of way or easements.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Wetlands analysis.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Known environmental issues.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Geotechnical soil issues.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><a href="https://allegrorealty.com/articles/how-to-adjust-commercial-zoning-to-increase-value"><span data-contrast="none">Zoning</span></a><span data-contrast="auto"> and surrounding land uses.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Utility infrastructure.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Infrastructure access and public transit.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Price per acre.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Access to labor and talent.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
</ul>
<p><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"><span data-contrast="auto" xml:lang="EN" lang="EN">Assessing these critical factors for each property ensured that Team NEO made the right choices when it came to selecting sites for new development. </span> </span></p>
<h2>Positioning Northeast Ohio for Continued Growth </h2>
<p><span data-contrast="auto"><span data-contrast="auto" xml:lang="EN" lang="EN">With a short list of vetted, viable sites, Team NEO can now solicit the right developers and/or nonprofit entities to bring these properties to market. The developed land in both Cuyahoga County and Summit County is not only projected to significantly increase job opportunities in the area, but also boost the local economies overall. </span> </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<p style="font-weight: bold;"><span data-contrast="none" xml:lang="EN" lang="EN">Do you need support with </span><a href="https://allegrorealty.com/consulting-services/site-location-strategy" target="_blank" rel="noreferrer noopener" style="font-weight: bold;"><span data-contrast="none" xml:lang="EN" lang="EN">site selection and location strategy</span></a><span data-contrast="none" xml:lang="EN" lang="EN"><span style="font-weight: bold;">? Our team can help.</span><span> </span></span><a href="https://www.allegrorealty.com/contact/" target="_blank" rel="noreferrer noopener"><span data-contrast="none" xml:lang="EN" lang="EN"><span data-ccp-charstyle="Hyperlink">Contact us</span></span></a><span data-contrast="none" xml:lang="EN" lang="EN"><span> to discuss your needs today. </span></span><span data-ccp-props="{"201341983":0,"335559740":276}"> </span><span data-contrast="auto"></span> </p>
<footer class="entry-footer"></footer><!-- .entry-footer -->, postEmailContent=<p><span data-contrast="none">Team NEO, a private, nonprofit economic development organization, set out with a goal to</span><span style="font-weight: bold;">grow a robust, dynamic inventory of undeveloped properties</span><span data-contrast="none">, enabling Northeast Ohio to be more competitive and offer more equitable opportunities when competing for strategic business investment projects. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<p><span data-contrast="none">The team knew they needed to focus on job hubs in Cuyahoga County and Summit County, with space specifically positioned for manufacturing, logistics, distribution, and light assembly facilities. Prior to site identification, Team NEO </span><span data-contrast="auto">sought an experienced group of partners</span><span data-contrast="none"> to aid in the </span><a href="https://allegrorealty.com/consulting-services/site-location-strategy"><span data-contrast="none">site location strategy</span></a><span data-contrast="none">, selection, and vetting necessary for this initiative. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<p><span data-contrast="none">With more than 15 years of experience working together in real estate development strategies that support economic development, </span><a href="https://northeastohioregion.com/news/team-neo-announces-team-to-identify-site-opportunities-in-cuyahoga-and-summit-counties/"><span data-contrast="none">Allegro was selected</span></a><span data-contrast="none">, along with Verdantas, McCabe Companies, and Chicago Title, to conduct site assessments and development analysis for Team NEO. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>, postFeaturedImageIfEnabled=https://6374170.fs1.hubspotusercontent-na1.net/hubfs/6374170/case-study-team-NEO-featured-image.jpg, postListContent=<p><span data-contrast="none">Team NEO, a private, nonprofit economic development organization, set out with a goal to</span><span style="font-weight: bold;">grow a robust, dynamic inventory of undeveloped properties</span><span data-contrast="none">, enabling Northeast Ohio to be more competitive and offer more equitable opportunities when competing for strategic business investment projects. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<p><span data-contrast="none">The team knew they needed to focus on job hubs in Cuyahoga County and Summit County, with space specifically positioned for manufacturing, logistics, distribution, and light assembly facilities. Prior to site identification, Team NEO </span><span data-contrast="auto">sought an experienced group of partners</span><span data-contrast="none"> to aid in the </span><a href="https://allegrorealty.com/consulting-services/site-location-strategy"><span data-contrast="none">site location strategy</span></a><span data-contrast="none">, selection, and vetting necessary for this initiative. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<p><span data-contrast="none">With more than 15 years of experience working together in real estate development strategies that support economic development, </span><a href="https://northeastohioregion.com/news/team-neo-announces-team-to-identify-site-opportunities-in-cuyahoga-and-summit-counties/"><span data-contrast="none">Allegro was selected</span></a><span data-contrast="none">, along with Verdantas, McCabe Companies, and Chicago Title, to conduct site assessments and development analysis for Team NEO. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>, postListSummaryFeaturedImage=https://6374170.fs1.hubspotusercontent-na1.net/hubfs/6374170/case-study-team-NEO-featured-image.jpg, postRssContent=<p><span data-contrast="none">Team NEO, a private, nonprofit economic development organization, set out with a goal to</span><span style="font-weight: bold;">grow a robust, dynamic inventory of undeveloped properties</span><span data-contrast="none">, enabling Northeast Ohio to be more competitive and offer more equitable opportunities when competing for strategic business investment projects. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<p><span data-contrast="none">The team knew they needed to focus on job hubs in Cuyahoga County and Summit County, with space specifically positioned for manufacturing, logistics, distribution, and light assembly facilities. Prior to site identification, Team NEO </span><span data-contrast="auto">sought an experienced group of partners</span><span data-contrast="none"> to aid in the </span><a href="https://allegrorealty.com/consulting-services/site-location-strategy"><span data-contrast="none">site location strategy</span></a><span data-contrast="none">, selection, and vetting necessary for this initiative. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<p><span data-contrast="none">With more than 15 years of experience working together in real estate development strategies that support economic development, </span><a href="https://northeastohioregion.com/news/team-neo-announces-team-to-identify-site-opportunities-in-cuyahoga-and-summit-counties/"><span data-contrast="none">Allegro was selected</span></a><span data-contrast="none">, along with Verdantas, McCabe Companies, and Chicago Title, to conduct site assessments and development analysis for Team NEO. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>, postRssSummaryFeaturedImage=https://6374170.fs1.hubspotusercontent-na1.net/hubfs/6374170/case-study-team-NEO-featured-image.jpg, postSummary=<p><span data-contrast="none">Team NEO, a private, nonprofit economic development organization, set out with a goal to</span><span data-contrast="none"> </span><span style="font-weight: bold;">grow a robust, dynamic inventory of undeveloped properties</span><span data-contrast="none">, enabling Northeast Ohio to be more competitive and offer more equitable opportunities when competing for strategic business investment projects. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<p><span data-contrast="none">The team knew they needed to focus on job hubs in Cuyahoga County and Summit County, with space specifically positioned for manufacturing, logistics, distribution, and light assembly facilities. Prior to site identification, Team NEO </span><span data-contrast="auto">sought an experienced group of partners</span><span data-contrast="none"> to aid in the </span><a href="https://allegrorealty.com/consulting-services/site-location-strategy"><span data-contrast="none">site location strategy</span></a><span data-contrast="none">, selection, and vetting necessary for this initiative. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<p><span data-contrast="none">With more than 15 years of experience working together in real estate development strategies that support economic development, </span><a href="https://northeastohioregion.com/news/team-neo-announces-team-to-identify-site-opportunities-in-cuyahoga-and-summit-counties/"><span data-contrast="none">Allegro was selected</span></a><span data-contrast="none">, along with Verdantas, McCabe Companies, and Chicago Title, to conduct site assessments and development analysis for Team NEO. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
, postSummaryRss=<p><span data-contrast="none">Team NEO, a private, nonprofit economic development organization, set out with a goal to</span><span style="font-weight: bold;">grow a robust, dynamic inventory of undeveloped properties</span><span data-contrast="none">, enabling Northeast Ohio to be more competitive and offer more equitable opportunities when competing for strategic business investment projects. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<p><span data-contrast="none">The team knew they needed to focus on job hubs in Cuyahoga County and Summit County, with space specifically positioned for manufacturing, logistics, distribution, and light assembly facilities. Prior to site identification, Team NEO </span><span data-contrast="auto">sought an experienced group of partners</span><span data-contrast="none"> to aid in the </span><a href="https://allegrorealty.com/consulting-services/site-location-strategy"><span data-contrast="none">site location strategy</span></a><span data-contrast="none">, selection, and vetting necessary for this initiative. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<p><span data-contrast="none">With more than 15 years of experience working together in real estate development strategies that support economic development, </span><a href="https://northeastohioregion.com/news/team-neo-announces-team-to-identify-site-opportunities-in-cuyahoga-and-summit-counties/"><span data-contrast="none">Allegro was selected</span></a><span data-contrast="none">, along with Verdantas, McCabe Companies, and Chicago Title, to conduct site assessments and development analysis for Team NEO. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>, postTemplate=AllegroHS/templates/single-case-studies.html, potentiallyStale=true, previewImageSrc=null, previewKey=UWMehOEN, previousPostFeaturedImage=https://6374170.fs1.hubspotusercontent-na1.net/hubfs/6374170/materion%20case%20study%20featured%20image.png, previousPostFeaturedImageAltText=wind turbines, previousPostName=Advanced Materials Solutions Provider Saves $5 Million Over 10 Years in Headquarters Lease Renewal, previousPostSlug=case-studies/lease-renewal-saves-advanced-materials-solution-provider-five-million, processingStatus=PUBLISHED, propertyForDynamicPageCanonicalUrl=null, propertyForDynamicPageFeaturedImage=null, propertyForDynamicPageMetaDescription=null, propertyForDynamicPageSlug=null, propertyForDynamicPageTitle=null, publicAccessRules=[], publicAccessRulesEnabled=false, publicAccessRulesEnabledColumn=false, publishDate=2023-09-18 14:43:03, publishDateLocalTime=2023-09-18T14:43:03.129Z, publishDateLocalized=com.hubspot.jinjava.objects.date.FormattedDate@74859987, publishDateLong=1695048183129, publishDateSnakeCaseLong=1695048183129, publishImmediately=true, publishImmediatelyColumn=null, publishTimezoneOffset=null, publishedAt=1695048183129, publishedByEmail=null, publishedById=13028929, publishedByName=null, publishedUrl=https://allegrorealty.com/case-studies/site-selection-increases-competitiveness-and-business-opportunities, requiresDeletion=false, resolvedDomain=allegrorealty.com, resolvedLanguage=null, rssBody=<p><span data-contrast="none">Team NEO, a private, nonprofit economic development organization, set out with a goal to</span><span data-contrast="none"> </span><span style="font-weight: bold;">grow a robust, dynamic inventory of undeveloped properties</span><span data-contrast="none">, enabling Northeast Ohio to be more competitive and offer more equitable opportunities when competing for strategic business investment projects. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<p><span data-contrast="none">The team knew they needed to focus on job hubs in Cuyahoga County and Summit County, with space specifically positioned for manufacturing, logistics, distribution, and light assembly facilities. Prior to site identification, Team NEO </span><span data-contrast="auto">sought an experienced group of partners</span><span data-contrast="none"> to aid in the </span><a href="https://allegrorealty.com/consulting-services/site-location-strategy"><span data-contrast="none">site location strategy</span></a><span data-contrast="none">, selection, and vetting necessary for this initiative. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<p><span data-contrast="none">With more than 15 years of experience working together in real estate development strategies that support economic development, </span><a href="https://northeastohioregion.com/news/team-neo-announces-team-to-identify-site-opportunities-in-cuyahoga-and-summit-counties/"><span data-contrast="none">Allegro was selected</span></a><span data-contrast="none">, along with Verdantas, McCabe Companies, and Chicago Title, to conduct site assessments and development analysis for Team NEO. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
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<h2>Understanding Site Location Needs and Objectives </h2>
<p><span data-contrast="none">For this project, it was important to find sites that </span><span style="font-weight: bold;">weren't already being delivered by the private sector. </span><span data-contrast="none">This criteria enabled the team to narrow their search to locations in Cuyahoga County and Summit County with a minimum of 10 acres in urban areas and 20 acres in suburban areas.</span><span data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
<p><span data-contrast="none">Because these sites are intended for industrial use, </span><strong><span data-contrast="none">a </span></strong><span style="font-weight: bold;">heavy emphasis was also put on infrastructure.</span><span data-contrast="none"> </span><span data-contrast="none">This included whether it was a high-capacity utility location, had roadway accessibility, and access to public transit. All of these factors, in combination with barriers like topography and wetlands, were taken into consideration as the team identified a long list of development opportunities. </span><span data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
<h2>Identifying Potential New Development Opportunities </h2>
<p><span data-contrast="none">The team started the project by </span><span style="font-weight: bold;">working with a group of stakeholders</span><span data-contrast="none"> in each of the two counties to get a better understanding of potential sites. These stakeholders included economic developers at the county and city levels, chamber of commerce representatives, planning commission representatives, and entities that managed land banks.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></p>
<p><span data-contrast="none">Afterwards, the team conducted inverse site selection to generate a long list of development opportunities for Team NEO. Using GIS, or geographic information systems, the team identified high-capacity electric lines, water, sewer, natural gas and roadway infrastructure, large amounts of available land, and developmental barriers such as wetlands </span><span style="font-weight: bold;">to form a long list of 15 potential sites per county.</span><strong><span data-contrast="none"> </span></strong><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></p>
<h2>Categorizing and Prioritizing Sites </h2>
<p><span data-contrast="none">Using a site scoring rubric, Allegro worked with project stakeholders to categorize the long list of sites into short-term (1-3 years from now), medium-term (3-5 years), and long-term (6-9 years) opportunities. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></p>
<p><span data-contrast="none">When categorizing each location, </span><strong><span data-contrast="none">the following criteria were taken into consideration</span></strong><span data-contrast="none">: </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></p>
<ul>
<li><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}">Land size. </span></li>
<li><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"><a href="/articles/smart-commute-finding-a-space-that-suits-your-employees" rel="noopener">Drive time</a> from a highway. <br></span></li>
<li><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}">Power infrastructure and supply. </span></li>
<li><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"><a href="/articles/how-to-maximize-your-industrial-space-for-energy-efficiency-and-sustainability" rel="noopener">Environmental, social, and governance</a> (ESG) score, using Team NEO’s proprietary software. </span></li>
<li><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}">Total number of parcels and owners. </span></li>
<li><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}">Proximity to existing clusters of jobs and labor pools. </span></li>
</ul>
<p><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"><span data-contrast="none" xml:lang="EN" lang="EN">The top five short-term properties in each county were selected based on their alignment with this criteria and barriers to development, including the number of parcel owners or amount of developable acres. </span> </span></p>
<h2>Conducting Comprehensive SWOT Analyses and Environmental Assessments </h2>
<p aria-level="2"><span data-contrast="auto" xml:lang="EN" lang="EN"><span>W</span><span>ith the short-term properties presented and confirmed, Allegro, in partnership with </span></span><a href="https://www.verdantas.com/" target="_blank" rel="noreferrer noopener"><span data-contrast="none" xml:lang="EN" lang="EN"><span data-ccp-charstyle="Hyperlink">Verdantas</span></span></a><span data-contrast="auto" xml:lang="EN" lang="EN"><span>, moved forward with conducting SWOT analyses and </span></span><a href="https://allegrorealty.com/articles/understanding-the-4-types-of-due-diligence-during-cre-disposition" target="_blank" rel="noreferrer noopener"><span data-contrast="none" xml:lang="EN" lang="EN"><span data-ccp-charstyle="Hyperlink">Phase I</span><span data-ccp-charstyle="Hyperlink"> </span><span data-ccp-charstyle="Hyperlink">en</span><span data-ccp-charstyle="Hyperlink">v</span><span data-ccp-charstyle="Hyperlink">ironmental </span><span data-ccp-charstyle="Hyperlink">assessments</span></span></a><span data-contrast="auto" xml:lang="EN" lang="EN"><span>.</span><span> The SWOT analysis criteria incl</span><span>uded</span><span>: </span></span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></p>
<ul>
<li><span data-contrast="auto">Parcel ownership.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Site assembly.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Land acquisition potential.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Site conditions.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Industrial site access.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Developable acreage.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Rail access. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Tree clearing.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Flood planes.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Rights of way or easements.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Wetlands analysis.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Known environmental issues.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Geotechnical soil issues.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><a href="https://allegrorealty.com/articles/how-to-adjust-commercial-zoning-to-increase-value"><span data-contrast="none">Zoning</span></a><span data-contrast="auto"> and surrounding land uses.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Utility infrastructure.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Infrastructure access and public transit.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Price per acre.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
<li><span data-contrast="auto">Access to labor and talent.</span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"> </span></li>
</ul>
<p><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":160,"335559740":259}"><span data-contrast="auto" xml:lang="EN" lang="EN">Assessing these critical factors for each property ensured that Team NEO made the right choices when it came to selecting sites for new development. </span> </span></p>
<h2>Positioning Northeast Ohio for Continued Growth </h2>
<p><span data-contrast="auto"><span data-contrast="auto" xml:lang="EN" lang="EN">With a short list of vetted, viable sites, Team NEO can now solicit the right developers and/or nonprofit entities to bring these properties to market. The developed land in both Cuyahoga County and Summit County is not only projected to significantly increase job opportunities in the area, but also boost the local economies overall. </span> </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<p style="font-weight: bold;"><span data-contrast="none" xml:lang="EN" lang="EN">Do you need support with </span><a href="https://allegrorealty.com/consulting-services/site-location-strategy" target="_blank" rel="noreferrer noopener" style="font-weight: bold;"><span data-contrast="none" xml:lang="EN" lang="EN">site selection and location strategy</span></a><span data-contrast="none" xml:lang="EN" lang="EN"><span style="font-weight: bold;">? Our team can help.</span><span> </span></span><a href="https://www.allegrorealty.com/contact/" target="_blank" rel="noreferrer noopener"><span data-contrast="none" xml:lang="EN" lang="EN"><span data-ccp-charstyle="Hyperlink">Contact us</span></span></a><span data-contrast="none" xml:lang="EN" lang="EN"><span> to discuss your needs today. </span></span><span data-ccp-props="{"201341983":0,"335559740":276}"> </span><span data-contrast="auto"></span> </p>
<footer class="entry-footer"></footer><!-- .entry-footer -->, rssSummary=<p><span data-contrast="none">Team NEO, a private, nonprofit economic development organization, set out with a goal to</span><span data-contrast="none"> </span><span style="font-weight: bold;">grow a robust, dynamic inventory of undeveloped properties</span><span data-contrast="none">, enabling Northeast Ohio to be more competitive and offer more equitable opportunities when competing for strategic business investment projects. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<p><span data-contrast="none">The team knew they needed to focus on job hubs in Cuyahoga County and Summit County, with space specifically positioned for manufacturing, logistics, distribution, and light assembly facilities. Prior to site identification, Team NEO </span><span data-contrast="auto">sought an experienced group of partners</span><span data-contrast="none"> to aid in the </span><a href="https://allegrorealty.com/consulting-services/site-location-strategy"><span data-contrast="none">site location strategy</span></a><span data-contrast="none">, selection, and vetting necessary for this initiative. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
<p><span data-contrast="none">With more than 15 years of experience working together in real estate development strategies that support economic development, </span><a href="https://northeastohioregion.com/news/team-neo-announces-team-to-identify-site-opportunities-in-cuyahoga-and-summit-counties/"><span data-contrast="none">Allegro was selected</span></a><span data-contrast="none">, along with Verdantas, McCabe Companies, and Chicago Title, to conduct site assessments and development analysis for Team NEO. </span><span data-ccp-props="{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":276}"> </span></p>
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Strategic Site Selection Increases Northeast Ohio Competitiveness and Equitable Business Opportunities
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