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AMERICAN VALUATION GROUP, INC.
RETAINED FOR LOGAN VALLEY MALL
Lansdale, PA (September 6, 2011) - American Valuation Group, Inc. was retained to provide
appraisal services and expert witness testimony on Logan Valley Mall, a super-regional shopping
mall located in Altoona, Blair County, Pennsylvania. The 780,278 square foot two-level, enclosed
mall, which opened in 1960 and was redeveloped in 1997, is situated at the northwest corner of
Plank Road and Goods Lane. This mall is easily accessible via Interstate 99/U.S. Route 220, just
north of U.S. Route 22 and 85 miles east of Pittsburgh. The dominant two-level mall in the area with
a strong tenant line-up serving a market covering 45 miles and nine counties. Average daily traffic
counts exceed over 85,000 cars on adjacent roadways. There are over 9,500 college students within
35 miles. Logan Valley Mall is anchored by Macy’s, JCPenney, Sears, Carmike Cinema and Old
Navy.
Logan Valley Mall has an impressive collection of stores and family-friendly features and
is a dominant mall in its trade area due to size, location and tenant mix. In addition to the anchor
stores, the mall has approximately 120 stores and restaurants including aerie, Aéropostale, American
Eagle Outfitters, Buckle, Charlotte Russe, The Children’s Place, Crazy 8, Holister Co., Justice,
PacSun, Victoria’s Secret, and Yankee Candle Co. There are eight restaurants in the food court.
Pennsylvania Real Estate Investment Trust, one of the nation’s largest publicly traded real estate
investment trusts, owns the mall and handles leasing and management.
American Valuation Group, Inc. has been retained for appraisal services and expert testimony
for a two-year tax appeal litigation proceeding. “Properly analyzing rental revenue, valuing the
department stores and determining the appropriate cap rate for this property will be major issues in
this case,” said Mark T. Kenney, MAI, SRPA, MRICS, MBA, President of American Valuation
Group, Inc. He added, “Tax assessors are increasingly concerned about appropriate values for
shopping malls given the continuing recessionary environment.” 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 our litigation 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