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Real estate professionals have not seen a new reference work on the challenges of valuing industrial property since 1984. The 2005 release of Appraising Industrial Properties is a significant addition to appraisal literature and represents the combined efforts of more than a dozen valuation experts and specialists.
The Appraisal Institute’s new text is a comprehensive survey of the different factors an appraiser must consider when valuing industrial real estate. Topics of special significance to the valuation of industrial property covered in this text include highest and best use considerations; environmental issues relating to industrial processes; legal issues such as zoning and eminent domain; real estate taxation; and the impact of government assistance such as tax abatement and free enterprise zones on the competitive market. Later chapters in the text venture further afield to cover a number of industrial property subtypes requiring specialized experience and training. A key feature of this book is its coverage of the specific data and techniques used in the appraisal of niche properties. The specialty properties covered in this text include
Specialty storage subtypes such as grain elevators and miniwarehouse space
Distribution and transportation facilities such as high-cube distribution centers and truck terminals
Specialized manufacturing facilities such as food processing plants
Cutting-edge industrial subtypes such as high-tech manufacturing facilities and telecommunications infrastucture buildings ( i.e., telco hotels) The increasing specialization of industrial real estate presents appraisers with a whole new range of considerations in the valuation process. Appraising Industrial Properties will help readers make sense of the new terrain and navigate a successful course through the challenges created by the evolution of industry in the twenty-first century.
About the Author
Appraising Industrial Properties would not have been possible without the enthusiastic efforts of dozens of real estate professionals. The organization and development of the text grew out of discussions among the members of the Educational Publications Committee. The chapters in Sections I and II were developed by consulting editors John A. Simpson, MAI, and Michael D. McKinley. The chapters in Section III were written by a variety of industry leaders solicited for their expertise in special industrial valuation problems and property types. The authors of these specialty chapters are: Bodie J. Beard, SRA, SRPA; Stephen R. Clark, MAI, ASA, and John R. Knight, PhD; Judson H. Clendaniel, MAI; Clay M. Dodd, MAI; Thomas O. Jackson, MAI, PhD; Donald J. McKee, MAI; Terry L. Payne, MAI; Joe R. Roberts, MAI, and Eric Roberts, MAI; and Donald R. Sonneman, ASA.