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AMERICAN VALUATION GROUP, INC. HIRED FOR CORAL RIDGE MALL
Lansdale, PA (October 12, 2011) - American Valuation Group, Inc. was recently engaged for
assessment consulting related to the Coral Ridge Mall, a super-regional shopping mall located in
Coralville (Iowa City metro area), Iowa. The 1,080,000 square foot, one-level, enclosed mall, which
opened in 1998, is conveniently located on Interstate 80 (I-80) with 45,000 vehicles per day, one
mile east of the I-80/I-380 interchange. The mall sits on a 120-acre site, and some 30% of shoppers
are from outside the trade area. Coral Ridge Mall is anchored by Best Buy, Dillard’s, JCPenney,
Scheels Sporting Goods, Sears, Target, and Younkers. Other unique attractions include an NHL
regulation-size ice arena, a 10-screen theater with stadium seating, a themed children’s play area and
Iowa’s only interactive Children’s Museum.
Coral Ridge Mall has unique design and merchandise, which includes a mixture of traditional
and big box stores with strong drawing power. The mall is the dominant mall in its trade area due
to size, location and tenant mix. In addition to the anchor stores, the mall has 125 stores and
restaurants, including Aéropostale, Barnes & Noble, Chico’s, Coldwater Creek, Express, Forever
21, Hollister Co., LOFT, Old Navy, Victoria’s Secret, Wet Seal and Zumiez. The mall also features
a food court. General Growth Properties, Inc., the nation’s second largest publicly traded real estate
investment trusts, owns the mall and handles leasing and management.
American Valuation Group, Inc. has been retained for assessment consulting services for a
possible revaluation of the Coral Ridge Mall, which includes the mall proper but not the department
stores. “The continued strong performance of this property should reflect positively on property
value,” said Mark T. Kenney, MAI, SRPA, MRICS, MBA, President of American Valuation Group,
Inc. He added, “Tax assessors are interested in appropriate mall values given the recent low interest
rate environment and increased market activity.” Mr. Kenney is the author of “Does Shopping Mall
Development Create Business Value?”, and other shopping mall articles that appeared 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