Lawrence “Larry” Colorito MAI
Chair of the National Board & Senior Managing Director
June 18, 2020
I am originally from the NY/NJ area, I’ve been in Virginia for 30 years. I have a wife, Beth; and son: Matthew, who works for me; and a daughter, Cassie. I have a BS Finance from Penn State & an MS Real Estate & Construction Management from University of Denver. I’ve been appraising since 1988. Only career I’ve ever had. I appraise all type of real estate; mostly for mortgage and litigation. I’m also an instructor at Old Dominion University where I teach the Real Estate Valuation class & Chair of the ODU EV Williams Center for Real Estate.
What is your title and what do you do at Valbridge?
I’m a Senior Managing Director of the Valbridge Property Advisors | Virginia office and Chair of the National Board of Directors. I run the Virginia office with my partner, Mike Berry MAI. I Chair the Board of Directors that oversees the national company operations. I was a founding partner.
How did you become a part of Valbridge?
Like many, I was contacted by Steve Bullock, our founder. I wasn’t at the very first planning meeting, but after much research Mike Berry and I were impressed with the people in the organization and with Steve’s vision. We joined just before the second meeting in Las Vegas.
What are your specialty areas?
I’m pretty much a general practitioner, I’ve had a pretty diverse career, having appraised everything from small vacant lots & single-tenant industrial buildings to Manhattan high-rises & regional malls. I also do quite a bit of expert witness work.
What are some of the most interesting projects you've worked on at Valbridge?
Peninsula Town Center (large mixed use & entertainment project, Hampton, VA); Hershey Manufacturing Facility (Augusta County, VA); Numerous Complex Litigation Assignments (throughout VA & NE NC); Meade Westvaco HQ (Richmond, VA); Regency Square Mall (Richmond, VA); Camp Pendleton State Military Reservation (Virginia Beach, VA).
What do you like most about working at Valbridge?
The “Brain Trust”. There’s almost nothing we can’t handle. Because of the diverse experience we have throughout our offices, somebody’s probably seen it before. That allows us to provide great service to our clients.
I’ve enjoyed my career as an appraiser. Based on my experience in academia, appraisal is the least known of the real estate disciplines. I’ve tried very hard through my work with students to explain the diverse opportunities in our industry so that we can increase the volume of new folks getting into the business. It’s very important to entice new talent so that we can continue to provide good services. Appraisal is all about the public trust.