Sample Engagements

On this page you can review a list of some of our recent Real Property, Special Use, Legal-Related, and Consulting engagements. If you have any questions regarding the subject matter below, feel free to contact us anytime.

Quick Links to specific sample engagements:

Real Property  -  Special Use  -  Legal-Related  -  Consulting

Real Property

• For purposes of collateralizing a multi-million dollar line of credit, a money center bank engaged us to conduct a complete, summary appraisal of the corporate borrower’s world headquarters in the Central Valley -- a six-building campus of office / manufacturing / R&D space of over 400,000 square feet:

Valuation over $30 million.

• For estate valuation purposes of a closely-held business, we valued the client’s portfolio of six food production, warehousing, cold storage, and distribution facilities (with land) located in the SF Bay Area, Central and Southern California, and Nevada totaling over 350,000 square feet:

Valuation over $28 million.

• For a Northern California bank underwriting a refinancing, we valued a multi-location medical complex in the Central Valley including 6 office buildings and a convalescent facility:

Valuation over $27 million.

• For an SF Bay Area bank considering the financing of a leased fee interest, we valued a 2600 acre mixed-use ranch in Northern California with farmland, grazing land, orchards and an aggregate mine, along with structural improvements:

Valuation in excess of $22 million.

• For a Sacramento area bank collateralizing a line of credit, in a limited report we valued the land and improvements on 5 operating sites of a local chain of fast food restaurants in the Central Valley:

Valuation in excess of $3.5 million.

• For a traded corporation, we completed a study of its highly unique, abandoned specialty food processing facilities and 400+ acres of surrounding farmland and wildlife habitat in Northern California for potential alternative uses if sold, and for internal accounting purposes:

Valuation near $2 million.

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Special Use

• For estate planning purposes, our client engaged us to value nearly 90 California Gas Station / C-Store sites across 57 cities in the Central Valley, Northern California, the South, East and North SF Bay Areas, San Francisco / SF Peninsula, and the Central Coast – plus a Truck Travel Center. Total real estate and business:

Combined valuation- $80+ million.

• For a California county transit authority, we valued its 32-mile railroad right of way to help it negotiate a rent renewal with its oil / gas pipeline lessee:

Valuation near $19 million.

• A local ownership group hired us to value a multi-dealer auto mall in Central California for internal asset management purposes:

Valuation in excess of $12 million.

• A corporate client, for internal purposes, asked us to appraise one of its California TV stations, including studios and administrative offices:

Valuation over $3.5 million.

• For loan underwriting, a San Jose area bank engaged us to value a Northern California fireworks manufacturing facility, including unique structures specially built for production safety purposes:

Valuation at nearly $4 million.

• For a Central California school district, we prepared a limited valuation study of three alternative grammar school sites containing up to 43 residential parcels each to help the district identify the most economically viable site in a potential condemnation action critical to a central-city urban renewal project.

Site Valuation range: $2.3 to $4.3 million.

• For insurance purposes, a Central Valley church engaged us to issue a limited memo report outlining the replacement value of its church and related office / classrooms complex:

Valuation near $2.7 million.

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Legal-Related

• For a Central Valley law firm in litigation over the 30% taking by Cal Trans of its client’s 350-unit apartment for freeway widening, we estimated the total value of the property taken, severance damages, plus loss of an easement interest. Prior to deposition, the case settled close to our damages value estimate:
  

Valuation in excess of $3 million.

• A San Francisco law firm engaged us to value a client’s North SF Bay Area real property and business income interests in the approximately 20% taking of his gas station in a widening of a major street. Following deposition, the case settled close to our damages value estimate:

Valuation near $400,000.

• A Central California law firm engaged us to appraise an estate consisting of various commercial and residential income properties in several counties, including fractional interests in corporations.

Valuation at over $2 million.

• For a San Francisco law firm, we estimated the NPV of its corporate plaintiff’s loss of future income from an industrial site stigmatized with remediation systems to remove a chemical plume allegedly sourced from the defendant’s neighboring facility. After deposition, the case settled near our damages estimate:

Valuation at $450,000.

• In an estate tax controversy in US Tax Court, for our client family trust we estimated and testified to the value of its portfolio of gas stations and related petroleum distribution properties in Northern and Central California at some $4 million below the IRS’ position. A large, national Valuation firm completed the IRS’ expert estimate. Judgment - the court established the value essentially at our estimate.
  

Result: client tax savings of several hundred thousand dollars.

• For a Sacramento law firm representing a plaintiff in local condemnation litigation, we conducted a valuation of plaintiff’s minor easement rights:

Valuation at $60,000.

• For a local, private railroad company in litigation with a Central California local government authority, we valued its right of way slated to be condemned for use as a recreational hiking path. The case settled near our estimate:
  

Valuation $640,000.

• For a Los Angeles law firm working a bankruptcy case, we conducted a market vs. liquidation value appraisal on a Central California food packing facility (partnering with a personal property appraiser who valued the machinery and equipment):
  

Valuation differential in excess of 35%.

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Consulting

• At the request of an Arizona partnership proposing to build a mini-storage complex in Central California, we completed a local feasibility / marketability study of its project; including current and proposed competitive facilities inventory, current and projected occupancy rates, rental rates, estimated construction costs per square foot, likely common facility improvements, surveyed unit absorption rates, and expected rental concessions.

• Hired by a Sacramento real estate management firm, we completed a limited study of the market rents and commercial property values in the surrounding area to establish a reasonable estimate of the valuation range for a vacant site in Sacramento with questionable retail development potential.

• For a Central California school district interested in a site acquisition, we conducted a brief valuation study and issued a letter memorandum. The memo considered not only land costs, but potential additional costs associated with the partial taking impact on remainder parcels considerate of severance damages, costs to cure, and relocation costs. Our estimates provided advance notice to the district of potential hidden costs and sensitive issues that became apparent based on right of way taking maps. This preliminary analysis helped the district to later make the final site selection. 

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