East Bay | Oakland | Walnut Creek
Valbridge Property Advisors has seen and done it all — providing valuations and evaluations of all types of commercial and other properties. The assignments noted below suggest Valbridge's range of experience across the U.S.:
- Valued a portfolio of 21 investment-grade office and R&D properties for a major university endowment undergoing an audit. Five Valbridge offices in multiple states participated in the assignment, providing consistent work product and single-point-of-contact service to the fund manager.
- Appraised five data centers for a top national wireless telecommunications company engaged in hotly contested lease renewal negotiations with multiple landlords in various submarkets.
- Valued an office complex containing 1.7 million square feet of Class A space within five skyway-connected office towers occupied by more than 85 tenants. The overall site features landmark-quality architecture and a range of amenities and walking trails. All the buildings are Energy Star certified, with some LEED rated. In conducting the valuation for the owner, we carefully considered the buildings’ energy operating performance.
- Performed a market and feasibility study for the owner of a 14-acre suburban site to determine the highest and best use of the property, including demand for for-sale or for-lease residential units based on market occupancy, projected absorption and estimated sales prices and asking rents. Evaluated 31 comparable properties in addition to the overall market, and analyzed the option of holding the site for future development versus developing the site immediately.
- Appraised a 312,000 square foot warehouse facility owned by a national REIT and leased to a single tenant in the beverage business. The valuation was part of a comprehensive portfolio review for REIT management.
- Valued an apartment portfolio including 7,200 units in 37 communities. We were hired by a fractional-interest owner concerned about estate administration. First, we valued the portfolio overall to determine the net asset value. Second, we evaluated the operating entity agreement to analyze issues related to control, transferability and distributions (including historical distributions).
- 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.
- Appraised a portfolio of 11 fast-food restaurants including the land and the buildings for the purchase and sale of a partnership interest. The sites are located in two states.
- Valued a Masonic temple that is an historic building, including a 2,300-seat auditorium, frescos and statues, in a central urban area. We helped the owner identify other potential community and cultural uses for the iconic property, recognizing that many religious and fraternal organizations nationally are experiencing demographic changes and declines in membership and, thus, are exploring strategic asset management opportunities.
- Appraised an 802,000 square foot steel mill operated by the U.S. arm of an international manufacturer. The owner challenged the local government’s assessment of the property value. Our report resulted in a reduction of the owner’s tax liability.
- Valued a six-acre industrial property including a bus storage and maintenance facility to help the owner determine the appropriate building lease rate and the land value. We enabled the owner to compare the income-generating power of the property over time to the benefits of an outright property sale.
- Appraised a lake and surrounding buffer zone for a recently deregulated power company. The assignment results compelled the state to purchase the lakebed and buffer zone from the utility to secure the lake as a public asset. Individual property owners with adjacent sites were then offered the opportunity to buy down to the waterfront, allowing those owners to control their frontage and stabilize their property values.