Montgomery County Department of Economic Development


Real Estate Portfolio Analysis / Surplus Asset Disposition Opportunities, Montgomery County, Maryland

Assisted the County’s Department of Economic Development and the Department of General Services (DGS) with a portfolio analysis of real estate assets to determine possible surplus properties for disposition and economic stimulus purposes.  Work was divided into three phases:

  • Phase I – Systematically pared down the list of County-owned properties from over 2,000 to 26 properties using multiple evaluation factors
  • Phase II – Conducted a more in-depth analysis of 26 selected Phase I properties including identifying physical property characteristics, zoning, tax assessments, adjacencies, by-right development potential, created maps, etc. The results were presented to County representatives in property assessment / profile summary sheets.
  • Phase III – Focused on possible disposition considerations. Tasks included select site visits, additional implied land value and adjacent property research, review of sector / master plans and County disposition requirements, etc.  Properties were then evaluated based on four criteria: timing / marketability; implied land value, economic stimulus potential, and complexity. 

Project deliverable comprised an executive memorandum and accompanying property assessment summaries.  As a result of this analysis, the County initiated property disposition of selected properties.  Since the disposition of most County-owned property requires offering the property to other County agencies before being surplused for possible private sector for disposition (see COMCOR 11.B45.11 for details), disposition of parking lot district assets were targeted.  The disposition of County-owned public parking lots requires surplus approval by the Administration and County Council but does not require being offered to the Montgomery County Executive Branch or other County agencies. 

Bolan Smart’s work on other County projects includes:

  • Conducting various development feasibility and market analyses for the office of the County Executive and the County Council (i.e. assisted with testimony supporting the establishment of workforce housing provisions).
  • Providing proposal evaluation, developer negotiation strategies, and market analyses for Montgomery County’s Site II in White Oak.
  • Evaluating market feasibility during a two plus year planning period preceding the construction of the County’s joint venture with Marriott to build a conference center and hotel complex at White Flint.