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Triple Net Regional Headquarters
Triple Net Office Building
Opportunity
A review of the corporate portfolio for a Fortune 100 Company under Property Tax Advisory Services lead to the identification of potential cost savings in Regional Headquarters.
Strategy
This downtown Regional Headquarters building was a potential candidate for tax appeal. Built in 1971, the 28 story office tower is 692,000 SF. Through its Property Tax Advisory analysis and specifically the application of the “Test of Reasonableness”, the current assessment was excessive. The appeal was won with the presentation of standard valuation analysis.
Results
$13.1M Value Reduction / $181,700 Tax Savings
$0.26/SF Reduction in Operating Expenses