North Carolina Downtown High-rise
Pivotal represented a high-rise office building in the Raleigh, NC area. The Assessor’s office was valuing the property much higher than its market value. Pivotal inspected the property and after interviewing the property manager discovered that the building was becoming outdated with building configurations that were not attractive to tenants. As a result, the building had been steadily losing tenants to more modern office spaces. Pivotal determined that the help of a local appraiser was necessary and together they both went before the local board.
The board agreed with Pivotal’s position and awarded a reduction in the taxpayer’s favor in the amount of about $340,000 in tax savings.
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