For years, commercial real estate and community-driven economic development have operated in silos, with limited interaction between local governments and real estate professionals. However, when approached strategically, the integration of real estate expertise can be a significant asset for a community seeking long-term economic success.

For counties, cities, and local economic development authorities, publicly controlled land is seen as a key asset for driving long-term economic growth. The goal is not just to land a sale but to attract “the right” business that will bring quality jobs, investment, and economic stability to the community. To achieve this, local governments and economic development authorities are often willing to offer flexible land costs or creative incentives to secure the right employer, prioritizing long-term vision over immediate financial gain. However, navigating the complexities of deal structuring, due diligence, and negotiating terms that align with broader economic goals may require expertise that local governments often do not have in-house.

This is where real estate professionals can add value. Beyond facilitating transactions, an experienced industrial real estate professional provides the strategic guidance needed to structure deals, assess site feasibility, and effectively market publicly controlled land. Their expertise in purchase agreements, option agreements, and lease structures helps attract the right businesses to the right sites. Real estate professionals can also bridge the gap between economic developers/local governments and prospective clients, positioning local assets for high-value projects.

While local governments and real estate professionals may seem to have different priorities—job creation vs. securing the best financial deal—the key to success lies in collaboration. Industrial land development controlled by a public entity is a team effort involving multiple stakeholders: local governments, real estate professionals, engineers, developers, site selectors, and more. While it’s not always necessary to involve a real estate professional, the right one can add significant value beyond just the transactional aspect by aligning deals with the community’s goals, transforming a good deal into a great economic outcome.