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AMERICAN VALUATION GROUP, INC. RETAINED FOR ROOSEVELT FIELD MALL
Lansdale, PA (February 28, 2008) - American Valuation Group, Inc. was recently engaged by the
Nassau County Assessor on Roosevelt Field Mall, a super-regional shopping mall located in Garden
City (Long Island), New York. The 2,200,000 square foot two-level enclosed mall, which opened
in 1956 with subsequent additions and renovations, is one of the top five (5) producing malls in the
country.
Roosevelt Field Mall has an impressive collection of stores, family-friendly features, and a
Food Court all in an upscale setting. Anchored by Nordstrom, Bloomingdale’s, Bloomingdale’s
Furniture, Macy’s, JCPenney's and Dick’s Sporting Goods, the mall has over 270 specialty stores
including a Modell’s Sporting Goods, Grand Lux Cafe, abercrombie, Ann Taylor, Anthropologie,
Apple, A|X Armani Exchange, Banana Republic, bebe, Bose, Godiva, JasmineSola, L’Occitane,
Marciano, Michael Kors, Pottery Barn, Sephora, Sony Style, Zara, and more. Food service facilities
include a food court and other restaurants. Simon Property Group, the largest shopping mall REIT
in the nation, owns the mall, and handles leasing and management.
American Valuation Group, Inc. has been retained for expert court testimony on Roosevelt
Field Mall for assessment purposes in a three-year litigation proceeding. “The issue of appropriate
cap rates and the possible existence of business value at this property will be the major issues in this
case,” said Mark T. Kenney, MAI, SRPA, MBA, President of American Valuation Group, Inc. He
added, “Tax assessors are increasingly concerned about appropriate values for malls given the recent
low interest rate environment and the current credit crunch.” Mr. Kenney is the author of “Does
Shopping Mall Development Create Business Value?”, and other shopping mall articles published
in The Appraisal Journal, a leading industry journal published by the Appraisal Institute.
American Valuation Group, Inc. is a leader in the appraisal of shopping malls and shopping
centers, and specializes in property tax appraisal and litigation support for assessors nationwide. For
information about appraisal support services, contact Mark Kenney at (215) 855-1800 or visit our web site at www.ameri-val.com.
207 Abbey Lane
Lansdale, PA 19446Ph: 215.855.1800
Fax: 215.855.1782 Email: mkenney@ameri-val.com