PEDA Looks to Marketing Help for William Stanley Business Park
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| On Thursday, Jennings Real Estate Services met with PEDA. |
PITTSFIELD, Mass. — The Pittsfield Economic Development Authority is looking to hire a commercial real estate broker to assist with marketing and developing the William Stanley Business Park.
On Thursday, Jennings Real Estate Services outlined a possible path forward for the effort. Brokers Kevin Jennings and Jonathan Little say projects like this are their "bread and butter."
"I think what we will bring to the project is exposure to a different market of people," Jennings said. "I think it’s been a little localized to date."
The plan is to attract parcel buyers on a local, national, and international level. This includes local businesses seeking to expand or relocate, corporations looking for strategic locations for manufacturing and other industries, and global corporations interested in expanding to the United States.
"The inventory is somewhat constricted. There aren't a lot of existing buildings that would be this size on this type of site available so it would push people who would normally just hop into something to take a look at new construction," Jennings said, referencing the Berkshire Innovation Center where PEDA is headquartered.
The railway that runs through the business park is seen as an attractive factor for companies who may want to utilize it.
Locally, their strategy includes engaging with businesses and entities that facilitate economic development about the benefits of being located within the park. Targeted advertising on digital platforms and mailers is also a part of the plan.
National and international outreach will be focused on digital marketing and networking with other real estate brokers and developers.
The brokers want to cross-market the William Stanley Business Park website and keep a steady presence on social media as well as targeted marketing on websites such as LinkedIn. They also want to host site visits for potential buyers.
"We have an outreach program where we're going to be directly calling folks that we think might be appropriate candidates," Jennings said. "We can't just put a sign on the line and hope that calls come in so we're proactive in that regard."
He added that candidates who didn’t buy into other projects could be pulled into the park.
"One point that we’ve been toying with here is that people have been driving by this property for quite a long period of time and they don’t know all the work that is happening here," Chair Michael Matthews said, adding that PEDA has made a lot of accomplishments but people just drive by and see vacant land.
"When you look at where we're at, this is monumental what's happening with Site 9."
Jennings has the ability to track website engagement to measure the effectiveness of online marketing as well as maintain a database of leads. They plan to solicit feedback from prospects and stakeholders to inform the strategy and adjust as needed.
"I think the marketing collateral that you have is fantastic," Jennings said. "And I think we’re going to cross-market a lot of it. We will cross-market your website, the handout that you have is all really good and it hits the points that everybody is asking for."
PEDA went into executive session to discuss pricing but no votes were made on the matter.
Earlier this year, redevelopment work began on the park's biggest parcel Site 9 after William J Keller & Sons Construction was awarded the $9.8 million bid.
The site has been called a "scar" and described as looking like the surface of the moon. The 16-acre parcel at the corner of Woodlawn Avenue and Tyler Street Extension previously housed a General Electric factory and is the largest and most prominent section of the William Stanley Business Park.
Final plans include green space and roadways for traveling within the parcel.
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