Property Type: Industrial Size: 104,000 s.f.
Decker Associates was engaged to provide a valuation on this 104,000 square foot industrial warehouse that fabricates replacement parts for airplanes. With only 13% of the building allocated towards office space, the facility was primarily dedicated to fabrication.
Built in 1956, this building was expanded upon again in 1967, and because of its age, a cost approach did not have as much validity in our work. Instead, we utilized sales and income approaches, researching metro wide to find comparably sized facilities with similar sales and rents.
This facility had heavy power to operate the machinery to produce the airplane parts they supplied. The appraisal was needed so that the lender could create a new loan for the tenant that wanted to buy the building from the landlord.