Texas Shopping Center

Pivotal was engaged by a national REIT that owned a shopping center in Austin, TX. The center has received a significant increase in assessed value. Pivotal reviewed the property and determined that the highest and best use of the property was for the land, not the buildings. The consultant argued that the building had little value due to its outdated design, poor condition, and the fact that the surrounding area had a lot of new construction.

Pivotal was successful in their protest and was able to reduce the building value for the entire center to just $1,000.