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Previous Appraisals

 

    Appraised over $4.8 billion in commercial real estate for financial institutions and corporate and institutional clients since 1986.

     Traveled nationally to appraise retail, industrial, distribution, office-institutional facilities, and single- and multi-family residential properties, including extensive experience in the depressed Texas market from 1987 to 1992. 

    Facilitated the sale of a major corporate entity for a Fortune 100 company. Brewer traveled to Clifton, New Jersey to appraise a mixed-use facility located on almost 40 acres of land adjacent to and with the only direct access to the Garden State Parkway. The facility was constructed in the early 1940's and consisted of 346,806 SF of office; 154,506 SF of manufacturing/laboratory/office and 132,962 SF of warehouse/distribution buildings. The site was located in a fully developed area and was one of the largest sites within a 10 to 20 mile radius. The closest comparable land sales were 20 to 30 miles away and none of the sales were located near the Garden State Parkway. Working under very rigid time constraints appraised the 630,000 square foot office/laboratory/ manufacturing/distribution facility.  The values rendered allowed a Fortune 100 company to complete the sale of a $400,000,000 corporate entity and retain the real estate in Clifton.

     Established new values in the formerly depressed airport area of Atlanta, Georgia by carefully evaluating development trends locally and surveying Los Angeles and Chicago markets for similar airport area developments.  Value estimates were later substantiated by partnership purchase in Atlanta Tradeport by Japan's largest developer (25% interest) and by Japan's largest construction company (25% interest).

     Appraised 100 acres of contaminated land located in Huntsville, Alabama for 17% and 20% of the values reported in two other appraisals.  This appraisal resulted in the settlement of a $3,000,000 lawsuit within four months of the date of the appraisal, for a fraction of the plaintiffs alleged damages. 

     Settled a dispute between two government entities involving a condemnation that would render the appraised property (a post office building) functionally obsolete within two years.  Employed a discounted cash flow analysis to value the building with a rental income attributed to a market return on the replacement cost of the special purpose building and valued the subject property based on the rental income attributed to an office building.  Utilized the difference in the two discounted cash flows to substantiate damages in excess of 100 times the original offer by the Department of Transportation. 

            Appraisal was utilized to market a 174,000 square foot operations center/office building for a Fortune 25 company during a depressed office market (1991) in Atlanta, Georgia.  Appraised the subject property as an office building and as an operations center.  Resulted in a sale of the property to a Fortune 5 company for the value rendered, within four months of the date of appraisal. 

     Selected by the mortgagee and mortgagor to appraise a 1,500-acre mixed-use development that was to be utilized for cross-collateralization.  Appraisal resulted in successful cross-collateralization substantiated by the values rendered in the report. 

     Consulted with the owner and the management company negotiating the sale/purchase of a 420-unit apartment complex in Tampa, Florida.  Sale was completed by substantiation of market derived capitalization rates 150 to 200 basis points below previously reported rates based on an analysis of the most recent (within the previous eight months) sales and the buyers projected income and expenses in this recovering apartment market. 

     Appraised numerous special-purpose-use properties including a 250,000 square foot distribution facility that included an automatic storage retrieval system housed in a 50,000 square foot, 80-foot high room described by county tax officials as personal property.  The appraisal included a special purpose use value on the building, which was designed to accommodate extensive robotic equipment, and three miles of conveyor systems.  

     Appraised 17 churches for the Georgia State Properties Commission during property acquisition for the Georgia Dome.  Additional special purpose institutional and denominational appraisals include:  Holy Innocents Episcopal Church and School, a nine-building complex with an area of more than 156,000 square feet; and First Church of Christ Scientist, a unique church construction located at the northeast corner of Peachtree Street and 15th Street in Atlanta, Georgia. 

     Flew to California to appraise an industrial property, which required a three-day turnaround on the reported market value. A Corporate 100 company required the reported value prior to a meeting of its board of directors, in order to meet their decision making requirements involving the purchase of a manufacturing facility and excess land.

Copyright 2005, Brewer Agency

 

 

 

 
710 E. Ponce de Leon Ave., #2
Decatur, GA 30030