News 2017

Restaurant Finance & Development Conference

Valbridge Property Advisors was in Las Vegas for the 2017 Restaurant Finance and Development Conference (RFDC). In attendance from Valbridge was Karl Finkelstein, Senior Managing Director | Charleston, Craig Huber, Senior Managing Director | Knoxville, and Chris Lantz, Senior Managing Director | Houston. This annual conference is the restaurant industry’s premier financial conference and focuses around the ‘business’ side of the restaurant industry. The conference presents tremendous networking opportunities and is popular for being a deal making event. Attendees had the opportunity to meet with representatives of investment banks, finance companies, business brokers, private equity firms, merger and acquisition specialists, real estate developers, and more.

The Keynote speakers at the conference were Chris Wallace, host of Fox News, and Bobby Flay, American chef, restaurateur, and reality television personality. Special guests included Guy Adami, Analyst on CNBC’s Fast Money and Professional Investor; Dana Telsey, CEO of Telsey Advisory Group, Michelle Meyer, head of U.S. economics at Bank of America Merrill Lynch Global Research; and Charlie Gasparino, Senior Correspondent with Fox Business News.


Happy Holidays, from Valbridge

From the 675 women and men of Valbridge Property Advisors, throughout 74 offices coast to coast, we would like to wish you a very happy holiday season.


City Summit | Annual Conference of the National League of Cities

Representatives from Valbridge attended the National League of Cities, City Summit conference in Charlotte, North Carolina in mid-November. Local leaders had the opportunity to come together and learn from experts and each other, with NLC University seminars centered on building technical and leadership skills. Also featured were Host City Mobile workshops around Charlotte that showcased real-world collaborative solutions to issues facing local government. There were an abundance of sessions spanning many topics relevant to conference attendees and their respective communities.


NAEPC Advanced Estate Planning Conference

Valbridge Property Advisors attended the 54th annual NAEPC Advanced Estate Planning Strategies Conference in New Orleans, Louisiana in mid-November. VPA was proud to participate as an exhibitor at the conference to help promote estate planning collaboration and education.


Industrial Appraisal in Southern California Involving 1.6 Million Square Feet

Valbridge Property Advisors, Orange County, recently completed an industrial appraisal in Southern California involving 1.6 million square feet of aircraft manufacturing space with 75 foot ceilings, 60 foot doors, cranes, access to an airport runway, and more.


NMHC Student Housing Conference

Valbridge Property Advisors attended the NMHC Student Housing Conference in Tampa, Florida in September. This event brings together leaders from all parts of the sector including owners, developers, investors, lenders, brokers, university partners, and more, to discuss the beginning of another school year and share the most up-to-date industry information including lease-up numbers, new developments, millennial marketing strategies, technological innovations, new entrants, and other valuable information designed to help improve negotiating skills and bottom line results. The conference creates an opportunity for networking and one-on-one between industry professionals.


National Investment Center (NIC) Fall Conference Re-Cap

Valbridge Property Advisors recently attended the 2017 NIC Fall Conference in Chicago, Illinois. In attendance for Valbridge was Rob Klein, National Director Health Care, Gerald A. Teel, Senior Marketing Director- Houston, and Karl P. Finkelstein, Vice President of Marketing and Business Development.


Valbridge- ULI Capital Markets Conference Re-Cap

Valbridge Property Advisors recently sponsored the ninth annual ULI Capital Markets Conference held at Kiawah Island in South Carolina on September 5-6, 2017. ULI is an organization dedicated to developing and maintaining leadership that creates responsible use of land to result in thriving communities worldwide. ULI’s goal and mission is to improve the quality of the places people live. ULI believes this starts with the open and honest sharing of practical experience and pragmatic solutions. This is done through their various leadership and assistance programs and annual conferences.


Restaurant Appraisals and Why You Need an Expert When Buying or Selling

According to recent State of the Industry numbers from the National Restaurant Association, restaurants in 2017 will generate $799 billion dollars in sales with more than 1 million restaurant locations nationwide. The restaurant industry is big business in the U.S. and with new restaurants going up every day, there is growing demand for valuation in this industry.


Apartments are Going Up with No Plan of Slowing Down

Yardi Matrix and Rent Cafe data show that 2017 will be another record year for apartment construction. The number of units being built is at the highest level since the 1980s. In 2016, 285,000 units were built. With 2017 estimated to top 345,000 units, in one year national apartment construction will have a 21 percent increase.


Trends that Attract Traveling Millennials

Millennials have been described as the most educated, conscious, and diverse generation. These characteristics have fueled the creation of new lodging trends. With one third of hotel guests being in their 20s and 30s, being aware of these trends will help companies brand their establishments to target these digital natives.


Beginning With the End in Mind

The assumptions related to highest and best use are akin to a hypothesis. Essentially, you’re following the scientific method where you need to test various components against each other. Since the highest and best use lays the foundation for the valuation analysis, differing conclusions can result in dramatically different values.


Valbridge Property Advisors' Robert Saia, MAI, SRA Writes First Book of Its Kind on Appraising Manufactured Home Communities

LOS ANGELES, June 01, 2017 (GLOBE NEWSWIRE) -- Robert S. Saia, MAI, a Director at Valbridge Property Advisors, today announced the launch of "Appraising Manufactured Mobile Home Communities and Recreational Vehicle Parks,” the first book of its kind to constructively analyze this subject matter"


Commercial Appraisals: The Role of Cyberattacks in Assigning Value

Cyberattacks are a well-known risk to individuals and businesses alike. The fact that someone could invade a business’ IT system or any other digitally-connected device and access company data and financial transactions is a serious risk.  But should you factor in the risk and security that’s been put in place to combat cyberattacks?


The Rights Remaining

I recently appraised several parcels for a major power company that involved rebuilding an older power line through densely developed areas of Atlanta, Georgia.The powerline and its associated easement rights had existed for over 60 years, but the power company needed to acquire additional easement rights in order to reconstruct the line.


Multifamily Developers are Getting Creative to Attract Renters

The multifamily property market continues to outperform other sectors and has the lowest vacancy rates of all major property types. It's a market driven by solid economic fundamentals, and one that many experts feel confident will continue to grow. It's predicted that renter households will increase in every generational demographic, with millennials leading the way. To attract them, developers are getting more creative, experimenting with new designs, offering modern amenities, and taking an innovative approach to marketing.


Marcus & Millichap Multifamily Forum

ATLANTA, Georgia - April 13, 2017 - Valbridge was in attendance at the Multifamily Forum. Thanks to M&M for putting on an informative event.


Valbridge Becomes Wealth Management Group's Preferred Provider

NAPLES, Florida - April 18, 2017 - Valbridge Property Advisors (Valbridge), North America’s largest independent commercial valuation firm, is pleased to announce their selection as the preferred provider of appraisals and business valuation services for The Financial Engineering Institute’s (FEI) network of over 2,200 wealth management professionals.


White Paper - Fractional Interest Discounts Real Estate

By: John D. Penner, MAI

A fractional (or partial) interest discount on the value of a real estate property is allowable by the IRS when there is less than a 100% interest in the business entity that owns the real estate. The discount relates to the fact that the ownership interest has a "Lack of Control" over the operation and disposition of the real estate and a "Lack of Marketability" due to the difficulty in selling an interest that is not publicly-traded and is not easily financeable.


Air Ways

An appraiser floats several options to determine highest and best use for a dirigible hangar

By Jeffrey S. Harris, MAI

The nation’s only steel hangar for blimps remaining from World War II stands near Elizabeth City, North Carolina. The building is massive, measuring 960 feet by 328 feet and standing 190 feet tall, and its steel construction allows it to flex several inches to withstand wind forces. The property is zoned for industrial use, and improvements total 317,500 square feet of net leasable space

Read the full article in Valuation Magazine


Valbridge Opens Boston Office

Valbridge Property Advisors (Valbridge), North America’s largest independent commercial valuation firm, is pleased to announce the opening of a new Boston office. Located in Sudbury, MA, the office will be led by James J. Marotta, MAI, a 30+ year appraisal veteran in the area, and Matthew Merrill, a 15+ year veteran.


The Value of Property Taken

Appraising real estate acquired through eminent domain

By Kenneth Cantrell, MAI

A typical appraisal provides an opinion of market value and is required for lending and other real estate purposes. However, in cases where eminent domain is involved, the market value is essentially an interim step leading to the final conclusion of just and adequate compensation.

Read the full article in Right of Way Magazine


NOTES FROM MBA CREF San Diego, California February 2017

Earlier this week, more than 3,000 commercial real estate professionals descended on San Diego for the MBA CREF conference.

Valbridge Property Advisors was pleased to be an exhibitor at the event, and enjoyed meeting current and future clients. We were represented by professionals from California, Texas, Georgia, Virginia and South Carolina. In addition to visiting with so many professionals, education sessions were also on the schedule. Below are a few highlights from the perspective of a life insurance company panelist.


Estate Planning & Valuation in the Age of Trump

In the not-so-distant past, taxes drove everything in estate planning. Today, a new administration, recent changes in tax laws, and the fact that less than .02% of Americans pay any estate taxes have many people rethinking their estate plans. No matter what the new president does, however, there are still many issues on the table that should drive clients to your door, and many of them require an accurate, independent valuation of the assets involved.


Notes From CREFC Miami, Florida January 2017

For the 3rd consecutive year, a Valbridge Property Advisors contingent attended the annual CREFC conference. The meetings were held the first week of January at the Loews resort in sunny Miami, Florida; except for the unwelcome day of rain, wind, and cool temperatures.

Following are a few notes that might be of interest.


Valbridge Opens Miami-Ft. Lauderdale Office

Valbridge Property Advisors is pleased to announce the opening of its new office in the Miami / Ft. Lauderdale area. The new office is located at 8200 N.W. 41st Street, Doral, Florida and serves the Broward, Miami-Dade, and Monroe County markets. Geri F. Armalavage, MAI, CBA, CVA, CMEA will manage the new location.


Heckerling 2017

Valbridge Property Advisors was again a gold Sponsor of the 51st Heckerling Institute. Held in Orlando the Week of January 9-13, it is the premier conference for estate planning professionals providing unparalleled educational and professional development opportunities for all members of the estate planning team, including the task of Real Estate Valuation and Appraisals.


Valbridge Opens Baltimore Washington Metro Office

Valbridge Property Advisors (Valbridge), the country’s largest independent commercial valuation firm, is pleased to announce the opening of a new Baltimore Washington Metro office. Located in Marriottsville, MD, the office will be led by David H. Brooks, MAI, a 30+ year appraisal veteran in the area, and Michael Haller, MAI.