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AMERICAN VALUATION GROUP, INC.
RETAINED AGAIN FOR THE MAINE MALL
Lansdale, PA (January 21, 2011) - American Valuation Group, Inc. was retained again by the City
of South Portland to provide expert witness testimony on The Maine Mall, a super-regional shopping
mall located in South Portland (Portland metro area), Maine. The 1,020,000 square foot one-level,
enclosed, super-regional shopping mall, which opened in 1971, was expanded in 1989 and renovated
in 1994, is the largest and most successful mall in the state, and is located in the largest metro area
with convenient access to I-95. The Maine Mall is anchored by JCPenney, Macy’s, Sears, Best Buy,
Sports Authority and XXI Forever. The Maine Mall is the only enclosed super-regional shopping
center within a 45-mile radius, and the average drive time for shoppers is 28 minutes.
The Maine Mall has an impressive collection of stores and family-friendly features and is the
dominant mall in its trade area due to size, location and tenant mix. In addition to the anchor stores,
the mall has over 140 stores and restaurants including Abercrombie & Fitch, Apple, Banana
Republic, Coach, Caché, Express, Express, H&M, LOFT, Sephora, Ulta Beauty, Victoria’s Secret
and Williams Sonoma. There are many restaurants and in a 550 seat Food Court. Each summer,
tourism brings more than $1.5 bil. and 3.6 mil. tourists to Maine’s south coast area, creating a
“second holiday season” for retailers at The Maine Mall. General Growth Properties, the second
largest shopping mall REIT in the nation, owns the mall, and handles leasing and management.
American Valuation Group, Inc. has been retained for consulting, review and expert
testimony before the city’s Board of Assessment Review for assessment purposes in a one-year tax
appeal proceeding. “The issue of proper segregation of real property and other assets at this mall will
be the major issue in this case,” said Mark T. Kenney, MAI, SRPA, MBA, President of American
Valuation Group, Inc. He added, “Tax assessors remain concerned about appropriate values for
malls given the current environment, especially with the recent increase in investment activity.” Mr.
Kenney is the author of “Business Enterprise Value: The Debate Continues,” and other shopping
mall articles that appeared in The Appraisal Journal, a leading industry journal published by the
Appraisal Institute. Most recently, he wrote “A Tale of Two Malls” for the IAAO Conference.
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 nationwide. For
information about our litigation 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