Quadrant SVP Wall Costello tells GlobeSt.com that while the company has always been both a commercial developer and a homebuilder, there has been a strategic change in the company to focus only on homebuilding, which has grown from 260 homes a year a few years ago to 1,000 homes a year today. The goal now is to grow the business to 200 homes a year, says Costello, adding that homebuilding also provides for more predictable earnings for its publicly traded parent company.

To accomplish its homebuilding goal, Costello says the company needs to shed its merchant building roots. Costello says the bulk of the commercial land that's for sale consist of entitled business parks within three master planed communities, including 98 acres at Redmond Ridge near Redmond, WA; 89 acres at Snoqualmie Ridge in Snoqualmie, WA; and 67 acres at Northwest Landing in DuPont, WA. Other big concentrations include 25 acres in Auburn, WA and 40 acres in Federal Way, WA.

Costello says the decision to sell off the commercial land was made at the end of 2002. During the first quarter of 2003, Costello says he began making presentations to various brokerage firms to let them know what is available. Cushman & Wakefield has the exclusive listing assignment for the acreage at Redmond Ridge and Snoqualmie Ridge, but the other properties are unrepresented. Costello says no decisions have been made regarding listing agents for the other properties, but he says no one firm will have all the listings.