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AMERICAN VALUATION GROUP, INC.
TO PRESENT AT 2010 AAP CONFERENCE
Lansdale, PA (April 5, 2010) - American Valuation Group, Inc. announced today that Mark T. Kenney, MAI, SRPA, MRICS, MBA, President of American Valuation Group, Inc. will make a presentation entitled “Assessing Retail: Big Boxes, Department Stores and Malls” at the 2010 Assessors’ Association of Pennsylvania (AAP) Annual Conference being held May 5th to May 7th at Seven Springs Mountain Resort in Champion, Pennsylvania. Mr. Kenney’s presentation will focus on market trends and appraising big box stores, and special valuation issues associated with appraising department stores and malls for tax appeal purposes. The speech will highlight The Maine Mall, South Portland, ME and Eden Prairie Center, Eden Prairie, MN tax appeal cases.
The Maine Mall is a 1,020,000 square foot one-level, enclosed, super-regional shopping mall, which opened in 1971, was expanded in 1989 and renovated in 1994. It 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 and Sports Authority. It 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.
Eden Prairie Center is a 1,342,000 square foot two-level enclosed super-regional shopping mall, which opened in 1976, was renovated in 1989 and 1994, and repositioned in 2001. The property is located in the Southwest area of the Twin Cities market and convenient to I-494. The shopping mall is anchored by Kohl’s, Sears, Target Greatland, Von Maur and JCPenney. The repositioning involved adding a new Von Maur department store, an AMC multiplex theatres, a Barnes & Noble, more in-lines shops and a restaurant wing.
American Valuation Group, Inc. was retained for appraisal services and expert testimony involving both the Eden Prairie Center and The Maine Mall tax appeal litigation proceedings. “Tax assessors are increasingly concerned about appropriate values for shopping malls given the current recessionary environment and credit crisis,” said Mark T. Kenney, MAI, SRPA, MRICS, MBA, President of American Valuation Group, Inc. 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.
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 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