NAI Koella Moore’s Maribel Koella Advises on NY Site
Maribel Koella, CCIM, SIOR, CRE, a nationally recognized Commercial Real Estate expert and Principal of NAI Koella | RM Moore, recently joined a renowned team of advisors to determine ways to redevelop the former Rome Cable Complex Site 4, a mitigated brownfield in Rome, New York’s urban core. The site buildings, formerly used for the manufacturing, coating, storing, and shipping of wire, were unoccupied and condemned in 2003.
Rome Cable, long a sustaining industry for the city, terminated its operations in 2003. A $13 million cleanup of the 40-acre site was completed by the New York State Department of Environmental Conservation, rendering it available for a variety of reuses. The Counselors in Real Estate (CRE®) team, including NAI Koella | RM Moore’s Maribel Koella, considered all types of uses for the property and concluded the community of 32,000 had sufficient demand for approximately 50,000 square feet of flex or industrial space to redevelop the site for uses that will meet the objectives of stakeholders and the city. This effort was a public service initiative by the CRE® Consulting Corps, which partnered with The Center for Creative Land Recycling (CCLR) to develop a best-use strategy for the property.
Koella’s specific contribution came from her extensive experience with industrial development, including determining the highest and best use of properties, generating marketing ideas to industrial prospects, and configuration options for laying out buildings for different purposes on this site that would be appealing to industrial prospects. “It was a great honor to be a part of this selective advisory team,” said Maribel Koella. “The revitalization of unique properties such as this one are so important to the continued development of the landscape of local communities that otherwise might be greatly impacted by environmental, social, and economic issues,” Koella continued.
The team designated for the Rome assignment was selected for its objectivity and experience related to the project’s needs. Nearly 60 projects around the world have been completed by CRE® Consulting Corps’ teams since 1997. CRE® members volunteer their time and expertise for Consulting Corps assignments—ranging from adaptive reuse projects to strategies for development of affordable housing—offering pro bono guidance and representing high levels of industry knowledge. The CRE® Foundation supported the Rome Consulting Corps project.