Working to evaluate the site in Madison, Wisconsin, TP3 advisors determined how the vacant land in the campus could be developed by evaluating Spectrum’s ability to reduce lease costs and realize potential revenues.
The Spectrum North American headquarters consisted of a modern 260,000 square foot facility adjacent to a technology research building. The original intent of the land was a corporate campus structure designed for expansion and additional buildings. However, the company no longer needed that expansion in this Wisconsin location. In working with Spectrum, TP3 was able to position the property for redevelopment, determine the correct proposed land use, and create new value over and above the appraised value. The underlying land was repositioned and successfully sold to another investor group.