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Economic Unit

One of the nation’s largest owners of multi-tenant flex, office and industrial space engaged Pivotal to represent a number of properties in their Florida market.  One such asset is a conglomerate of over 60 properties totaling nearly 3 million square feet.  The properties are freestanding and typically handled individually (per parcel) by the assessor. Pivotal reviewed the property and documented that the property, in its entirety, was managed, mortgaged, landscaped, etc. by the same entity. Utilizing this common management in order to establish an economic unit, Pivotal argued that the property would most likely be sold as one unit on the open market so it stood to reason that the properties should be treated as one whole in the valuation process for property tax purposes. The property received massive reductions in the appeal process because of this new approach to the appeal.  To date Pivotal has saved our client over $2 million in property taxes.

Pivotal takes the time to consider every option available to lower our client’s property taxes and is not afraid to offer a new argument to the taxing authorities to achieve results.

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