Independent Valuations for a
Variable World
Welcome to
Valbridge Property Advisors
National Coverage. Local Knowledge. True Valuation Independence.
Valbridge Property Advisors is the largest independent commercial property valuation and advisory services firms in the U.S., with 200 MAI-designated appraisers, 74 office locations and more than 675 staff across the nation. Valbridge provides independent appraisal services consistent with the highest industry standards of practice. Each Valbridge office is led by an appraiser who holds the MAI designation of the Appraisal Institute.
The Valbridge Women's Council provides a platform for the growth and development of Valbridge Property Advisor's professional women through mentoring and education, national recognition, networking opportunities and other resources that provide opportunities for advancement and self-improvement. Our vision is to empower VPA professional women for advancement, growth and development of in all facets of life.
Office Locations
Atlanta
Atlanta's diverse economy shows strength in key submarkets, with many real estate sectors prospering beyond pre-recession levels.
Atlanta is home to several Fortune 500 companies, including Coca-Cola, Delta Airlines, Home Depot and UPS, and newer arrivals such as Porsche Cars of North America, Mercedes-Benz and State Farm. The international terminal has helped Hartsfield-Jackson remain the busiest airport in the world, fueling Atlanta's economic strength.
Valbridge professionals in Atlanta have been providing independent valuation and advisory services to a wide range of private and public-sector clients since 1991. Our services include litigation support for complex valuation issues and bank lending assignments.
Memphis
For more than 20 years the leaders of our regional office have served Memphis and the Mid-South region. Today, Valbridge is one of the largest independent commercial appraisal firms in the Memphis MSA with a constant focus toward a high level of customer service.
In addition to multifamily, office, industrial and retail, our staff has experience in religious facilities, self-storage, hotel/motel, investment property, medical buildings and many more.
Memphis area properties in good locations have shown growth in prices, and demand for quality facilities has been high in recent quarters. We expect this trend will hold as buyers continue to place investment capital into the commercial real estate sector.
Tampa Bay
The Tampa Bay area is a vibrant market with diverse physical and economic characteristics. Valbridge has deep roots in the region, with the experience and local knowledge to tackle the challenges of valuation issues specific to the area.
We provide valuation and consulting services for all commercial property types as well as specialized properties such as subdivisions, golf courses, marinas, mixed-use, hotel/lodging, and luxury and resort condominiums.
Regional clients also seek our expertise in eminent domain, commercial litigation, estates, REO assets, wetlands, partial interests, corridor studies, cost estimates, insurable value and appraisal review.
Orange County
From Anaheim to Irvine to Newport Beach, Valbridge has Orange County covered. Our team has been in the market since 1983.
We provide valuation and advisory services with an emphasis on office, medical and industrial properties. We also publish expense guideline reports for these product types, tracking taxes and insurance, utility, maintenance and management costs so investors can assess their properties’ performance compared with the market or pro-forma a property for potential purchase.
As Southern California markets continue to recover, we are seeing expenses rise along with occupancy and rents.
Michigan
Valbridge recently opened a new office in downtown Detroit to serve existing and new clients as the commercial real estate market in southeast Michigan improves and grows.
After rapidly escalating employment loss in 2008-2009, Michigan has experienced five straight years of job growth, with unemployment near the national average.
Recent valuation assignments include 18 parcels for acquisition by the U.S. Department of the Interior, a 500,000 sf office building with a long-term lease to a credit tenant, a freight dock on Mackinaw Island, and the City of Troy Transit Center.
Sacramento
Construction of the new Sacramento Kings basketball arena has helped resurrect numerous projects and spurred other sales for redevelopment of mixed-use commercial properties in the downtown and mid-town districts.
With vacancies as low as 3% and rent increases approaching 20% in many areas, the multifamily investment market is on fire in the greater Sacramento region.
Our professionals have provided independent valuation and advisory services in the market since 1990, serving all property types. Among our multifamily assignments: Delta Pointe in Sacramento, Gold Crossing in Rancho Cordova, and Riverbend Apartments in West Sacramento.
Greenville, S.C.
Valbridge is one of the oldest and most active real estate valuation and advisory firms in upstate South Carolina, where we have provided service since 1920.
Greenville is an auto industry center with BMW, Michelin and the graduate program in automotive engineering at Clemson University.
Industrial vacancies are at less than 7.5%, with rental rates on the rise after 14 quarters of positive absorption.
The lack of inventory has spurred new construction, including an intermodal hub at the Greenville/Spartanburg airport that connects to the Port of Charleston. Combined with Class A build-to-suits, there's now 1.5 million sf of industrial space under construction upstate.
Seattle
Valbridge Property Advisors’ history in the Puget Sound region dates back to 1983.
We serve a wide variety of public and private-sector clients, providing all manner of valuation and advisory services including litigation support.
Recent assignments include working with the regional light rail agency to acquire property and easements for new mass transit infrastructure, appraising the 40-mile Eastside Rail Corridor for the local port in its acquisition of land from BNSF, and valuing a conservation easement for an 85,000-acre forest intended for preservation.
Richmond
Valbridge is one of Richmond’s largest commercial real estate valuation and consulting firms, with a presence in the market since 2002.
Our office specializes in all facets of real estate valuation, including industrial, multifamily, office, retail and residential subdivisions. Among our assignments: the MeadWestvaco Headquarters, Westchester Commons, Towne Center West, Regency Square Mall and the Markel Building.
A city with abundant history, Richmond is the capital of Virginia. The economy largely is driven by finance and government, and is positioned to benefit from upside in the commercial market.
Phoenix/Tucson
Valbridge has been providing independent valuation and advisory services in Arizona since 1986.
According to Moody’s Analytics, Arizona will lead the nation in job growth through 2019.
In Phoenix, Metro Rail soon will connect with the Metrocenter mall redevelopment. Urban residential, office and re-tenanted retail including Walmart will be added to one of Phoenix’s oldest malls. In Tucson, Banner is developing a new building for the University of Arizona Medical Center.
The University of Arizona, Arizona State University and Northern Arizona University are projected to increase enrollment by 60,000 students over the next five to 10 years.
Indianapolis
Entering 2016, retail and multifamily are strong with industrial and office seeing signs of recovery.
Owner-occupied properties have proven the best performers to hold and increase value, but investment properties are attracting new interest primarily from out-of-state capital.
Valbridge is a preferred provider to public-sector, lender and other clients. Our tax-appeal appraisals have produced more favorable decisions from the IBTR.
Among our more notable assignments: a large environmentally contaminated industrial building in the downtown arts district being repurposed for retail and office, and numerous appraisals on gas station/c-stores.
Denver/Boulder
Valbridge’s history in Boulder and Denver dates back to 1959. Our current practice leaders, Burton Lee and Marty Ward, were grade school friends.
In addition to providing valuation and advisory services for industrial, office, retail and multifamily buildings including affordable housing tax-credit properties, Valbridge has a reputation for the unusual. We have appraised ranches, camps and telecom towers. Now under evaluation: a multi-sports entertainment complex with indoor soccer fields, an ice hockey rink and a rollerblading rink.
Across Denver and Boulder, which are high-tech hubs, new construction of smaller, owner-occupied office and industrial buildings continues.
Cleveland
Leaders of Valbridge’s Cleveland-area practice have been appraising commercial properties in the market since 1992.
Our assignments run the gamut from multifamily to office to restaurants and parking, mainly for mortgage lending, estate planning and tax appeals.
Multifamily appraisals have included a factory conversion in Tremont, a mid-rise tower near the CSU campus, Ohio City loft apartments and a Columbus portfolio for a national lender.
Downtown Cleveland continues to see a high level of Class B office buildings converted to apartments. In fact, our office recently relocated from the Leader Building to the Hanna Building to accommodate a multifamily conversion.
Charlotte
Valbridge is a market leader in Charlotte, where we’ve provided commercial real estate valuations since 1993. Our firm began as John Bosworth & Associates.
There’s substantial activity in Charlotte’s retail and multifamily sectors. Construction cranes have returned, with high-rise development of office and condo projects in the CBD. Fear of an oversupply of multifamily units always looms, but current lease-up activity of new projects is steady. Development of distribution facilities also has resumed.
We recently completed an appraisal of the Norfolk Southern Intermodal facility at the Charlotte Douglas International Airport. This is the only facility of its type that is situated between two active parallel runways.
Philadelphia
The leaders of the Philadelphia office have provided real estate counseling, appraisal and litigation support for 40+ years. Reaves C. Lukens, Jr., the senior managing director, is a local valuation icon, referred to by many as the “Dean of Real Estate.”
Valbridge helps property owners and taxing authorities achieve equitable assessments, performs financing appraisals and provides counsel on troubled assets and REOs. Firm principals are familiar faces in state and federal courts, having been appointed as “special master” to advise courts.
Philadelphia is seeing a flurry of residential development spurred by millennials, Gen-Xers and suburbanites moving to the CBD. A 10-year tax-abatement program also is an incentive.
San Francisco Bay Area
The San Francisco Bay Area region continues to outpace California and the U.S. in job growth.
On a GDP basis, the Bay Area is the 21st largest economy in the world. Outside of NYC, the region has the most Fortune 500 companies (30). Technology and venture capital are at the core of the engine.
In 2015, the Silicon Valley R&D market absorbed 9.9 million sf in new leases, a modest increase from 2014. The office sector logged 4.5 million sf of absorption. Investment properties are in demand, with prime sites notching cap rates in the 4.0-5.5% range. Apartment construction is booming.
We expect the strength to continue for at least another year; a gradual tapering would be good to avoid overheating.
New Orleans
Valbridge is a market leader in New Orleans and the Gulf Coast, where we’ve provided independent real estate valuations since 1987.
Valbridge has helped the local, state and federal governments acquire rights-of-way for new and enhanced levee protection systems throughout Southeast Louisiana.
Among our other recent assignments: Appraising a proposed port facility in Southwest Louisiana as well as the proposed redevelopment of the former Naval Support Activity facility in New Orleans into a mixed-used, master-planned development.
Charleston, S.C.
“The food here is amazing!” proclaims one of the many national and international awards bestowed on local restaurants and restaurateurs.
Lowcountry Cuisine’s popularity has exploded over the past few years, and the area now boasts multiple James Beard winners for both chefs and restaurants.
Valbridge is a market leader, too, and has been in Charleston for nearly 30 years. We’ve been fortunate to see this growth take place, and had the privilege to appraise many of the area’s fine restaurants, including The Ordinary and Fish.
Orlando
Valbridge is a market leader in Orlando, where we’ve provided independent real estate valuations since 1991. Our local roots can be traced to the legendary appraisal firm Pardue, Heid, Church, Smith & Waller, which was one of the largest independent appraisal firms in the U.S.
Recent assignments include a variety of lodging and hospitality properties, restaurants and other commercial and multifamily real estate assets.
Orlando’s retail and industrial markets are healthy, along with a strengthening residential market, as more Baby Boomers migrate to Central Florida. Orlando remains one of the most fundamentally sound real estate markets in the U.S.
Kansas City
Valbridge is Kansas City’s largest commercial real estate appraisal firm, in business since 1978. We have six MAIs on staff, including four past presidents of the Kansas City Chapter of the Appraisal Institute.
Signature assignments include the world’s largest underground storage complex (5,000,000+ sf), the Kansas City Power and Light entertainment district, the largest office building in the metro area, a corridor of over 900 miles, and litigation support on a project with more than 2,000 parcels.
Commercial development is active again, and the market is heating up.
Dallas-Fort Worth
Dallas/Fort Worth
Dallas/Fort Worth is home to several Fortune 500 companies including ExxonMobil, Mckesson, AT&T, American Airlines Group, Energy Transfer Equity, Southwest Airlines, Fluor, and Tenant Health Care. North Texas has also seen rapid expansion in the past two years as Toyota USA moved its North American Headquarters to Legacy Business Park in Plano. Other major corporate campuses and relocations recently completed include State Farm Insurance, Liberty Mutual Insurance, Raytheon, FedEx, JPM Chase Bank, Amazon and several others.
Valbridge professionals in Dallas/Fort Worth have been providing independent valuation and advisory services to a wide range of private and public sector clients since 2011. Services include litigation support for complex valuation issues, banking/lenders, agency lending, corporations and development services.
Houston
Valbridge has provided independent valuation and consulting services throughout the Houston MSA since 1983.
During 2015, Valbridge completed over 1,000 appraisal assignments including downtown Houston office towers, big-box retail portfolios, and an industrial portfolio across several states. Right-of-way projects were completed for the City of Houston, Harris County, Air Liquide and CenterPoint. The Houston office performs valuations and market studies for more than 140 multifamily properties annually.
A decline in the oil industry in 2015 created some hesitancy in the local real estate market. Still, with continued population growth projected, there is likely to be demand in most property sectors.
Drones and Scope of Work
Growth in Industrial Real Estate
All About Investing in Multi-Family Properties
Appraised a 225,000 square foot, 14-acre site including warehouse and office space for a large regional commercial bank considering a mortgage loan for a new buyer of the property.
Valued a portfolio of 22 investment-grade office and R&D properties for a major university endowment undergoing an audit. Five Valbridge offices in multiple states performed the work.
Appraised an apartment portfolio including 7,200 units in 37 communities for a fractional-interest owner concerned about estate planning issues.
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