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AMERICAN VALUATION GROUP, INC. RETAINED FOR WESTDALE MALL
Lansdale, PA (June 25, 2007) - American Valuation Group, Inc. was recently engaged by the City
of Cedar Rapids Assessor on Westdale Mall, a super-regional shopping mall located in Cedar
Rapids, Iowa. The 854,000 square foot two-level enclosed mall, which opened in 1979 and
renovated in 1993, is the largest mall in the Cedar Rapids market and the third largest in Iowa.
Anchored by JC Penney, Younkers, Steve & Barry, and University Sportswear, the mall is
a major retail facility with approximately 120 mall shop spaces. Major retailers include American
Eagle Outfitters, Eddie Bauer, The Buckle, Lencrafters, Maurices, and Bishop’s Buffet. Other
features include restaurants, pad sites, banks and a proposed 30,000 square foot minor anchor.
Vacancy has been a problem and redevelopment is a likely possibility. General Growth Properties,
Inc., the second largest shopping mall REIT, has been retained to handle leasing and management.
American Valuation Group, Inc. has been retained for valuation of the Westdale Mall and
10 surrounding properties for assessment purposes in a two-year litigation proceeding. “The issue
of ‘current use’ versus ‘highest and best use’ is one of the hottest topics in real estate appraising
today,” 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 with
redevelopment potential.” 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 centers,
and specializes in property tax appraisal, consulting and litigation support for assessors nationwide.
For information about American Valuation Group, Inc.'s appraisal or property tax consulting
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