Francis Hamit
Long only, growth, momentum, special situations

Griffin Land & Nurseries Turns Towards Development Only

In Real Estate location is everything, they say, but proper planning, development and execution are where the real value is added.
Recently Griffin Land & Nurseries (NASDAQ:GRIF), a familydominated real estate developer in the Hartford, Connecticut area that also owned a money-losing wholesale plant nursery business sold that off to refocus on further developing its industrial and commercial real estate business.

It has a market cap of about 157 million, but may have hidden value in long-held land holdings that are currently difficult to value. Values may rise or decline with market forces. It is the largest landowner in the State of Connecticut, with over 3,000 undeveloped acres in its portfolio and has a second development in the...

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