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Home My WebLink About20111885 CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4226 FM: (970) 352-0242 P. O. BOX 758 GREELEY, COLORADO 80632 C. COLORADO August 3, 2011 REALTY INCOME CORPORATION C/O K & C RV CENTERS LLC 145041-25 FRONTAGE RD LONGMONT, CO 80504 RE: THE BOARD OF EQUALIZATION, 2011, WELD COUNTY, COLORADO - ADMINISTRATIVE DENIAL OF PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE DESCRIPTION OF PROPERTY:ACCOUNT#: R7053098 PARCEL#: 120723202014-RAD L14 BLK1 RADEMACHER BUSINESS PARK PUD AMD PLAT Dear Petitioner: On July 29,2011,the Board of County Commissioners of Weld County, Colorado, convened, and acting as the Board of Equalization, pursuant to Section 39-8-101, C.R.S., et.seq., considered your request for an Administrative Denial of your petition of appeal of the County Assessor's valuation of your property described above, for the year 2011. The assessment and valuation of the Weld County Assessor was affirmed as follows: ACTUAL VALUE AS ACTUAL VALUE AS DETERMINED BY SET BY BOARD ASSESSOR $2,457,000 $2,457,000 cc: 2.1Oe/k F-3-o2©// 2011-1885 AS0079 REALTY INCOME CORPORATION - R7053098 Page 2 A denial of a petition, in whole or in part, by the Board of Equalization may be appealed by selecting one of the following three options; however, said appeal must be filed within 30 days of the denial: 1. Board of Assessment Appeals: You have the right to appeal the County Board of Equalization's(CBOE's)decision to the Board of Assessment Appeals(BAA). Such hearing is the final hearing at which testimony, exhibits, or any other evidence may be introduced. If the decision of the BAA is further appealed to the Court of Appeals, only the record created at the BAA hearing shall be the basis for the Court's decision. No new evidence can be introduced at the Court of Appeals. (Section 39-8-108(10), C.R.S.) Appeals to the BAA must be made on forms furnished by the BAA, and such appeals should be mailed or delivered within thirty (30) days of denial by the CBOE to: Board of Assessment Appeals 1313 Sherman Street, Room 315 Denver, CO 80203 Phone: 303-866-5880 NOTE: On or after August 10, 2011, any appeal of the valuation of rent- producing commercial real property to the Board of Assessment Appeals shall provide to the County Board of Equalization the following information within ninety (90) days after the appeal is filed. For two full years, including the base year for the relevant property tax year: (1) actual annual rental income (2) tenant reimbursements (3) itemized expenses (4) rent roll data, including the name of any tenants, the address, unit, or suite number of the subject property, lease start and end dates,option terms, base rent, square footage leased, and vacant space Fees: A taxpayer representing himself is not charged for the first two appeals to the Board of Assessment Appeals; however, a taxpayer being represented by an agent or an attorney must submit a fee of$101.25 per appeal. OR 2. District Court: You have the right to appeal the CBOE's decision to the District Court of the county wherein your property is located. New testimony, exhibits or any other evidence may be introduced at the District Court hearing. For filing requirements, please contact your attorney or the Clerk of the District Court. Further appeal of the District Court's decision is made to the Court of Appeals for a review of the record. (Section 39-8-108(1), C.R.S.) OR 2011-1885 AS0079 REALTY INCOME CORPORATION - R7053098 Page 3 3. Binding Arbitration: You have the right to submit your case to arbitration. If you choose this option the arbitrator's decision is final and your right to appeal your current valuation ends. (Section 39-8-108.5, C.R.S.) Selecting the Arbitrator: In order to pursue arbitration, you must notify the CBOE of your intent. You and the CBOE select an arbitrator from the official list of qualified people. If you cannot agree on an arbitrator, the District Court of the county in which the property is located will make the selection. Arbitration Hearing Procedure: Arbitration hearings are held within sixty days from the date the arbitrator is selected. Both you and the CBOE are entitled to participate. The hearings are informal. The arbitrator has the authority to issue subpoenas for witnesses, books, records, documents and other evidence. He also has the power to administer oaths, and all questions of law and fact shall be determined by him. The arbitration hearing may be confidential and closed to the public, upon mutual agreement. The arbitrator's written decision must be delivered to both parties personally or by registered mail within ten (10) days of the hearing. Such decision is final and not subject to review. Fees and Expenses: The arbitrator's fees and expenses are agreed upon by you and the CBOE. In the case of residential real property, such fees and expenses cannot exceed $150.00 per case. The arbitrator's fees and expenses, not including counsel fees, are to be paid as provided in the decision. If you have questions or need additional information, please do not hesitate to contact me at (970) 336-7215, Extension 4226. Very truly yyours, Esther E. Gesick Deputy Clerk to the Board cc: Christopher Woodruff, Assessor RYAN LLC SUITE 650 16220 N SCOTTSDALE ROAD SCOTTSDALE, AZ 85254 2011-1885 AS0079 cOnry ,li ' r .), NOTICE OF DETERMINATION q oo 749i Q Christopher M. Woodruff Date of Notice: 6/22/2011 Weld County Assessor Telephone: (970) 353-3845 or (720) 652-4255 0) 304-6433 Greeley, CO 80631 "" ' 8 arrtaf197appeals@o.weld.co.us www.co.weld.co.us Office Hours: 8:00 AM - 5:00 PM SCHEDULE/ACCOUNT NO. TAX'YEARy -TAX AREA LEGAL DESCRIPTION/ PHYSICAL LOCATION R7053098 2011 2309 RAD L14 BLK1 RADEMACHER BUSINESS PARK PUD AMD PLAT x 4048 CAMELOT CIR,WELD z REALTY INCOME CORPORATION 3 C/O K&C RV CENTERS LLC o 14504 I-25 FRONTAGE RD LONGMONT,CO 80504 a O rc ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ACTUAL VALUE PRIOR TO ACTUAL VALUE AFTER REVIEW REVIEW COMMERCIAL 2,457,000 2,457,000 TOTAL $2,457,000 $2,457,000 The Assessor has carefully studied all available information, giving particular attention to the specifics included on your protest. The Assessor's determination of value after review is based on the following: CM06 - The assessor's staff has requested information which is pertinent and critical to proper evaluation of your property's value. Because we have not received this information, we have no choice but to deny any adjustments. If you disagree with the Assessor's decision, you have the right to appeal to the County Board of Equalization for further consideration, § 39-8-106(1)(a), C.R.S. The deadline for filing real property appeals is July 15. The deadline for filing personal property appeals is July 20. The Assessor establishes property values. The local taxing authorities (county, school district, city, fire protection, and other special districts) set mill levies. The mill levy requested by each taxing authority is based on a projected budget and the property tax revenue required to adequately fund the services it provides to its taxpayers. The local taxing authorities hold budget hearings in the fall. If you are concerned about mill levies, we recommend that you attend these budget hearings. Please refer to last year's tax bill or ask your Assessor for a listing of the local taxing authorities. Please refer to the reverse side of this notice for additional information. RYAN LLC 16220 N SCOTTSDALE ROAD SUITE 650 SCOTTSDALE AZ 85254 2011-1885 APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 1 through August 5 at 915 10th Street, Greeley, CO To appeal the Assessor's decision, complete the Petition to the County Board of Equalization shown below, and mail or deliver a copy of both sides of this form to: Weld County Board of Equalization 915 10th Street, P.O. Box 758 Greeley, CO 80632 Telephone (970) 356-4000 Ext, 4225 To preserve your appeal rights, your Petition to the County Board of Equalization must be postmarked or delivered on or before July 15 for real property and on or before July 20 for personal property— after such date, your right to appeal is lost. You may be required to prove that you filed a timely appeal; therefore, we recommend that all correspondence be mailed with proof of mailing. You will be notified of the date and time scheduled for your hearing. The County Board of Equalization must mail a written decision to you within five business days following the date of the decision. The County Board of Equalization must conclude hearings and render decisions by August 5, § 39-8-107(2), C.R.S. If you do not receive a decision from the County Board of Equalization and you wish to continue your appeal, you must file an appeal with the Board of Assessment Appeals by September 12, § 39-2-125(1)(e), C.R.S. If you are dissatisfied with the County Board of Equalization's decision and you wish to continue your appeal, you must appeal within 30 days of the date of the County Board's written decision to ONE of the following: Board of Assessment Appeals District Court 1313 Sherman Street, Room 315 9th Avenue and 9th Street Denver, CO 80203 P.O. Box C (303) 866-5880 Greeley, Colorado 80632 www.dola.colorado.cov/baa (970) 356-4000 Ext. 4520 Binding Arbitration For a list of arbitrators, contact the County Commissioners at the address listed for the County Board of Equalization. If the date for filing any report, schedule, claim, tax return, statement, remittance, or other document falls upon a Saturday, Sunday, or legal holiday, it shall be deemed to have been timely filed if filed on the next business day, § 39-1-120(3), C.R.S. PETITION TO COUNTY BOARD OF EQUALIZATION What is your estimate of the property's value as of June 30,2010? (Your opinion of value in terms of a specific dollar amount is required for real property pursuant to § 39-8-106(1.5), C.R.S.) $ 11OOO� OOc' What is the basis for your estimate of value or your reason for requesting a review? (Please attach additional sheets as necessary and any supporting documentation, i.e., comparable sales, rent roll, original installed cost, appraisal, etc.) - !Cm� n ?tS'a b& yvv4-ke ( ao--1-28q 4 o - t otAnr .Ja.^j-oe - SPAO-4 4 ac 142.09— T'yj t e S ATTESTATION I, the undersigned owner or agent' of the property identified above, affirm that the statements contained herein and n an attachments hereto are true and complete. boa- 5/7f2 7l ( 3l t nature Telephone Number Date arm- etz2tE-acts Attach letter of authorization signed by property owner. Building Details Page 1 of Building Details Account#: R7053098 Parcel#: 1207232020: Owners Name&Address: Property Address: REALTY INCOME CORPORATION Street: 4048 CAMELOT CIR WELD C/O K&C RV CENTERS LLC City: WELD 14504 I-25 FRONTAGE RD LONGMONT, CO 80504 Building# Property Type 1 Commercial ividual Built As Detail Built As: Service Garage Year Built: 2000 Exterior: HVAC: Space Heater Interior Finish: Built As SQ Ft: 40950 # of Baths: 0 Roof Type: Gable # of Bdrms: 0 Roof Cover: #of Stories: 1 Rooms: 0 Units: 0 Garage: Attached SQ Ft: Detached SQ Ft: Basement: Total SQ Ft: Finished SQ Ft: http://maps2.merrick.com/Website/Weld/setSgl.asp?cmd=QUERY&DET=Building&pin=12072320201... 5/13/20] Market Sales 1 .2E T ►1aiJnwn * 4050 Camelot - ® circle, longmont Campion , I R! voir y ' S I " Johnstown % , 3_rda (Milken Welty W R-af 9. Berthou o 4 3 IBanyan 344 - .i d Walker s Wildcat • Highland Mead Ta f _ a- County Rea ; • Lake , 41 .. a Morey t *` _ 66 - • --.____ ,r-._ L1te tiiy Liberty } Gowanda --- A Hygiene . t • 2 87 t'eservoi, Longaolf eur1; le Nelscc Rd Barre tain • na Pleasant View Ridge Rinn 4 .5 rIU6 -I S Microsoft' Dominic!!n is i Virtual Earth' Idaho Creek ''tea :J;=, i �•�.�r .,.i; s _ :' Flrt3t0flo Address City Property Info Sale Info 1 220 Collyer St Longmont 31 ,357 SF Industrial/Lumberyard Sold: $1 ,190,000 ($37.95/SF) 2 4226 County Rd 22 Longmont 39,120 SF Industrial/Food Sold: $629,902 ($16.10/SF) Processing 3 4700 Marketplace Dr Johnstown 79,600 SF Industrial/Warehouse Sold: $1 ,500,000 ($18.84/SF) 4 455 Weaver Park Rd Longmont 73,383 SF Industrial/Manufacturing Sold: $2,768,500 ($37.73/SF) n, This copyrighted report contains research licensed to Ryan, LLC fka/Ryan, Inc. - 468113. 7/14/2011 a Wa Page 1 1 220 Collyer St - Hope Lumber & Supply SOLD Longmont, CO 80501 Boulder County lags . Sale Date: 12/22/2010 (1 ,301 days on mkt) Bldg Type: Class C Lumberyard Sale Price: $1 ,190,000 - Unconfirmed Year Built/Age: Built 1949 Age: 61 Price/SF: $37.95 RBA: 31 ,357 SF _, Pro Forma Cap: - Parcel No: 1315034-36-001 Actual Cap Rate: - Comp ID: 2021411 Sale Conditions: - Research Status: Unconfirmed 2 4226 County Rd 22 SOLD Longmont, CO 80504 Weld County Sale Date: 03/20/2009 Bldg Type: Class C Food Processing Sale Price: $629,902 - Full Value Year Built/Age: Built 1994 Age: 15 Price/SF: $16.10 RBA: 39,120 SF _ Pro Forma Cap: - Parcel No: - Actual Cap Rate: - Comp ID: 1885382 Sale Conditions: - Research Status: Full Value 3 4700 Marketplace Dr - RV Boatel SOLD Johnstown, CO 80534 Larimer County Sale Date: 03/31/2011 (99 days on mkt) Bldg Type: Class C Warehouse Sale Price: $1,500,000 - Confirmed Year Built/Age: Built 2005 Age: 6 — - Price/SF: $18.84 RBA: 79,600 SF _,ilI Pro Forma Cap: - Parcel No: 85352-10-002 '$ "' , ._ Actual Cap Rate: - �,' - _ - Comp ID: 2090506 Sale Conditions: - LBIL • Research Status: Confirmed 4 455 Weaver Park Rd - Weaver Business Park SOLD Longmont, CO 80501 Boulder County 14:".,,\ . Sale Date: 02/11/2008 (880 days on mkt) Bldg Type: Class C Manufacturing Sale Price: $2,768,500 - Confirmed Year Built/Age: Built 1977 Age: 31 an. X11 'i Price/SF: $37.73 RBA: 73,383 SF - - Pro Forma Cap: - Parcel No: 1315024-24-001 Actual Cap Rate: - Comp ID: 1485002 Sale Conditions: - Research Status: Confirmed an This copyrighted report contains research licensed to Ryan, LLC fkaIRyan, Inc. - 468113. 7/14/2011 Page 1 220 Collyer St - Hope Lumber & Supply SOLD 1 Longmont, CO 80501 - Longmont Ind Submarket Sale on 12/22/2010 for $1 ,190,000 ($37.95/SF) - Research Complete 31 ,357 SF Class C Lumberyard Building Built in 1949 -- it r• E4THAve • E3RDA iri lll` s :. ro -,r V,ti - NIP 2 E 2ND Ave Ave 1ST Ave 50 0 f elfin Microsoft' Virtual Earth'" JaLt,a nt.nauii tury-r :. i .rr• #141110. J:r1'J Buyer & Seller Contact Info Recorded Buyer: Brekke Holdings Lic Recorded Seller: Pro-Build Real Estate Holdings True Buyer: Brekke Storage True Seller: Pro-Build Real Estate Holdings, LLC Jerry Brekke David Polishook 105 3rd Ave 7595 Technology Way Longmont, CO 80501 Denver, CO 80237 (303) 776-2610 (303) 262-8500 Seller Type: Corporate Listing Broker: CB Richard Ellis Tyler Carner (720) 528-6397 William Thompson (720) 528-6373 Mike Camp (720) 528-6313 Transaction Details ID: 2021411 Sale Date: 12/22/2010 (1 ,301 days on market) Sale Type: Investment Escrow Length: - Bldg Type: Lumberyard Sale Price: $1 ,190,000-Unconfirmed Year Built/Age: Built in 1949 Age: 61 Asking Price: $1 ,750,000 RBA: 31,357 SF Price/SF: $37.95 Land Area: 4.46 AC (194,278 SF) Price/AC Land Gross: $266,816.14 Percent Leased: 100.0% Percent Improved: 93.0% Total Value Assessed: $2,509,103 in 2010 Improved Value Assessed: $2,332,609 Land Value Assessed: $176,494 Land Assessed/AC: $39,572 Financing: $950,000.00 from Seller Parcel No: 1315034-36-001 an This copyrighted report contains research licensed to Ryan, LLC fka/Ryan, Inc. - 468113. 7/14/2011 Page 1 220 Collyer St-Hope Lumber&Supply SOLD 31,357 SF Class C Lumberyard Building Built in 1949(con't) Document No: 3121050 Sale History: Sold for$1,190,000($37.95/SF)on 12/22/2010 Sold for$2,000,000($63.78/SF)on 08/07/2006 Transaction Notes The parties involved were not at liberty to disclose any vital data pertaining to the sale of this property. Public record does not show the sale in the system yet. I will tray again next week to see if any information is available. More information will be added as it becomes available. APN: 1315034-36-001 Income Expense Data Expenses -Taxes $28,651 -Operating Expenses Total Expenses $28,651 Current Industrial Information ID:1591136 Bldg Type: Lumberyard RBA: 31,357 SF Bldg Status: Built in 1949 %Leased: 33.6% Rent/SF/Yr: $6.25 Stories: 1 Bldg Vacant: 20,823 SF Total Avail: 20,823 SF Building FAR: 0.16 Warehouse Avail: 20,823 SF Office Avail: 0 SF CAM - Max Contig: 20,823 SF Zoning: MI Smallest Space: 20,823 SF Owner Type: - Land Area: 4.46 AC Owner Occupied: - Lot Dimensions: - Tenancy: - Ceiling Height: 23'0" Column Spacing: - Loading Docks: -(bldg.total) Levelators: - Cross Docks: - Crane: - Drive Ins: 4(total) Const Type: - Sprinklers: - Rail Spots: Yes Rail Line: Burlington Northern Santa Fe Expenses: 2010 Tax @$0.91Isf Features: Fenced Lot Location Information Metro Market: Denver Submarket: Longmont Ind/Longmont Ind County: Boulder CBSA: Boulder,CO CSA: Denver-Aurora-Boulder,CO DMA: Denver,CO-NE-WY-NV Map(Page): Mapsco 41-H Ryan0 This copyrighted report contains research licensed to Ryan.LLC fka/Ryan,Inc.-468113. 7/14/2011 Page 2 • 220 Collyer St-Hope Lumber&Supply SOLD 31,357 SF Class C Lumberyard Building Built in 1949(con't) Parcel Number: 1315034-36-001 Legal Description: Lot 1 bik 1 Wickes Minor Subdiv County: Boulder Plat Map:220 Collyer St-Hope Lumber&Supply ...,,,y.4.` : I%PUL tAkrat T';tM'i_.�if.�,'iti7.�J�1: ilili1:I.VM'1'::'n I ""'. 11r• _ Tax:, yt�- ' gip,. I me:, 't am? fY M Nom`- IT' , If .11,1:11. °• a. l.. I1 14"v I fiII ..;:l.. r.:•, ' t. .• .1.• ' II CO, I l i . 1 1 r • ___ r - 1 lf�r��4Mr--' I, — t t--•' I I glee 3+l _. , AYr1I'. : i:f �. 1, f , pr,,,,+ 11 AY4. 1 l' �,- 1. ` i '7? II . t l 1 iiiii 1 I " I It .... A .. :wC* ! i Rppa'131 R0041170 170 1 '�'.� • "Tor MC a... I 1 WWI I.': :.BaClie3t- . i R00167g3 I r,*, .• -. 1 J1 t c. ,. II* I 114r` 1,.....1!HI i R1%144::'"—..7.----- 1 I / QOt !s' } / i _-11. XII i- - akrt / / R014214/ // i/. , 1 if ,_. .T, Its r R0041461 if 800/3649 I - I�r.• � t •L r. / ii. R0GIQ1l11 1 �/ J l Ijirin ) , This copyhghled repot contains research licensed to Ryan.LLC fkalRyan.Inc.-468113. 7/14/2011 Page 3 4226 County Rd 22 SOLD 2 Longmont, CO 80504 - Weld County Ind Submarket Sale on 03/20/2009 for $629,902 ($16.10/SF) - Research Complete 39,120 SF Class C Food Processing Building Built in 1994 ammummili- I am i Cou nty Road 22 2 ®IP . :. r; • •I #. , . 1 I -, . y,� r_'... �'a ' (Specialty P! -J.: s _ - .. - __ -- . I 500 frJ; Microsoft' . Virtual E rd .u;tn uiu C.::a,:r ,:. ;:ire- Ili Buyer & Seller Contact Info Recorded Buyer: - Recorded Seller: LAURIDSON JOHN C & EULALIE 120 87 14570 Young Dr Brighton, CO 80601 Buyer Broker: CBRE Listing Broker: Unique Properties, LLC-TCN Worldwide Greg Knott (303) 321-5888 Transaction Details ID: 1885382 Sale Date: 03/20/2009 Sale Type: Owner/User Escrow Length: - Bldg Type: Food Processing Sale Price: $629,902-Full Value Year Built/Age: Built in 1994 Age: 15 Asking Price: - RBA: 39,120 SF Price/SF: $16.10 Land Area: 4 AC (174,240 SF) Price/AC Land Gross: $157,475.50 Percent Leased: 0.0% Tenancy: Single Percent Improved: 83.7% Total Value Assessed: $853,840 Improved Value Assessed: $714,880 Land Value Assessed: $138,960 Land Assessed/AC: $34,740 Transaction Notes The parties involved were not at liberty to disclose any of the vital data or were unable to be contacted. All information is based on recorded county documents and county assessor records. an This copyrighted report contains research licensed to Ryan. LLC fka/Ryan, Inc. - 468113. 7/14/2011 Page 4 4226 County Rd 22 SOLD 39,120 SF Class C Food Processing Building Built in 1994(con t) Current Industrial Information ID:706764 Bldg Type: Food Processing RBA: 39,120 SF Bldg Status: Built in 1994 %Leased: 100.0% Rent/SF/Yr: - Stories: 1 Bldg Vacant: 0 SF Total Avail: 0 SF Building FAR: 0.22 Warehouse Avail: 0 SF Office Avail: 0 SF CAM - Max Contig: - Zoning: B-2 Smallest Space: - Owner Type: - Land Area: 4 AC Owner Occupied: No Lot Dimensions: - Tenancy: Single Ceiling Height: 17'0"-18'0" Column Spacing: 31'w x 43'd Loading Docks: 12 ext(bldg.total) Levelators: 5 ext Cross Docks: - Crane: None Drive Ins: None(total) Const Type: Masonry Sprinklers: Yes Rail Spots: None Rail Line: None Property Mix: Office 7,634 SF (19.5%) Expenses: 2008 Tax @$1.37/sf Power: 1200a/277-480v 3p 4w Features: Cooler,Freezer Location Information Metro Market: Denver Submarket: Weld County Ind/Weld County Ind County: Weld CBSA: Greeley,CO CSA: Denver-Aurora-Boulder,CO DMA: Denver,CO-NE-WY-NV RYan0 This copyrighted report contains research licensed to Ryan,LW fita/Ryan.Inc.-468113. 7/14/2011 Page 5 4700 Marketplace Dr - RV Boatel SOLD Great Colorado Marketplace 3 Johnstown, CO 80534 - Fort Collins/Loveland Ind Submarket Sale on 03/31/2011 for $1 ,500,000 ($18.84/SF) - Research Complete Non-Arms Length 79,600 SF Class C Warehouse Building Built in 2005 tz Marketplace Dr ._..rte. "'+yam- ,`�" - •ate —� � • inn It ;sr' ele MicrosoftA[ Virtual� Earth' !fain -- _O Buyer & Seller Contact Info Recorded Buyer: Pmd National Mortgage Ii LIc Recorded Seller: Public Trustee Of Larimer Cnty True Buyer: Joseph Padilla True Seller: RV Boatel Joseph Padilla Cole Smith 144 N Mason St 4700 Marketplace Dr Fort Collins, CO 80524 Johnstown, CO 80534 (307) 431-6510 Buyer Broker: No Buyer Broker on Deal Listing Broker: No Listing Broker on Deal Transaction Details ID: 2090506 Sale Date: 03/31/2011 (99 days on market) Sale Type: Investment Escrow Length: - Bldg Type: Warehouse Sale Price: $1 ,500,000-Confirmed Year Built/Age: Built in 2005 Age: 6 Asking Price: - RBA: 79,600 SF Price/SF: $18.84 Land Area: 6.21 AC (270,508 SF) Price/AC Land Gross: $241 ,545.89 Percent Leased: 100.0% Tenancy: Single Percent Improved: 82.6% Non-Market Reasons: Foreclosure Total Value Assessed: $713,400 in 2010 Improved Value Assessed: $589,450 Land Value Assessed: $123,950 Land Assessed/AC: $19,959 No. of Tenants: 2 Tenants at time of sale: Anchor Distributing; RV Boatel Parcel No: 85352-10-002 Document No: 20110019686 This copyrighted report contains research licensed to Ryan, LLC fka/Ryan, Inc. - 468113. 7/14/2011 Wait) Page 6 4700 Marketplace Dr-RV Boatel SOLD 79,600 SF Class C Warehouse Building Built in 2005(cony) Transaction Notes The seller confirmed the property at 4700 Marketplace Drive was sold on March 2nd 2011 for$1.5 million.There were no brokers involved. This sale was a forclosure bought at auction.The property was previously on and off the market and sold for about half of assessed value. Current Industrial Information ID:5876384 Bldg Type: Warehouse RBA: 79,600 SF Bldg Status: Built in 2005 %Leased: 100.0% Rent/SF/Yr: - Stories: 3 Bldg Vacant: 0 SF Total Avail: 0 SF Building FAR: 0.29 Warehouse Avail: 0 SF Office Avail: 0 SF CAM - Max Contig: - Zoning: Comm/Light Industrial Smallest Space: - Owner Type: - Land Area: 6.21 AC Owner Occupied: Yes Lot Dimensions: - Tenancy: Single Ceiling Height: 26'0" Column Spacing: 50'w x 20'd Loading Docks: None(bldg.total) Levelators: None Cross Docks: - Crane: None Drive Ins: 49114'0"w x 14'0"h(total) Const Type: Steel Sprinklers: Dry Rail Spots: None Rail Line: None Expenses: 2008 Tax @$0.99/sf Power: 220v 3p Features: Signage Location Information Park Name: Great Colorado Marketplace Metro Market: Denver Submarket: Fort Collins/Loveland Ind/Fort CollinslLoveland Ind County: Larimer CBSA: Fort Collins-Loveland,CO DMA: Denver,CO-NE-WY-NV Ryan�� This copyrighted report contains research licensed to Ryan,LLC ika/Ryan,Inc -468113. 7114/2011 Page 7 e 455 Weaver Park Rd SOLD 4 Weaver Business Park Longmont, CO 80501 - Longmont Ind Submarket Sale on 02/11/2008 for $2,768,500 ($37.73/SF) - Research Complete 73,383 SF Class C Manufacturing Building Built in 1977 a G es d a Vass 4 6. lip o S E 4TH Ay ►ve f 3R@ Ave .t''1 e' wct,r Weaver Park Rd otiltv O ,mot ti t l _ 1 l tl l ttt Sugar Mill Rd 500 It Microsoft'Earth"'virtual Ea Y1"' f• 14/l at Buyer & Seller Contact Info Recorded Buyer: Tebo Development Co. Recorded Seller: Actis Real Estate Group LLC True Buyer: Tebo Development Co. True Seller: Actis Real Estate Group LLC Stephen Tebo Richard Groves 1590 Broadway 451 Oak St Boulder, CO 80302 Frederick, CO 80530 (303) 447-8326 (303) 833-3800 Buyer Type: Developer/Owner-RGNL Seller Type: Corporate Buyer Broker: No Buyer Broker on Deal Listing Broker: Freeman Myre Inc. Andrew Freeman (303) 827-0020 Ashley Overton (303) 447-2700 Transaction Details ID: 1485002 Sale Date: 02/11/2008 (880 days on market) Sale Type: Investment Escrow Length: 45 days Bldg Type: Manufacturing Sale Price: $2,768,500-Confirmed Year Built/Age: Built in 1977 Age: 31 Asking Price: $3,672,800 RBA: 73,383 SF Price/SF: $37.73 Land Area: 4.77 AC (207,781 SF) Price/AC Land Gross: $580,398.32 Percent Leased: 41 .4% Tenancy: Multi Percent Improved: - Transfer Tax: $276.65 Total Value Assessed: $870,000 in 2006 Improved Value Assessed: - Land Value Assessed: - Land Assessed/AC: - No. of Tenants: 5 Tenants at time of sale: Crescent Electric Supply Company; Knowledge Factor Inc; Rsa Distributing Co., Llc; Siena Art & Interiors; Straight Flush, Inc Financing: Not Available This copyrighted report contains research licensed to Ryan, LLC fka/Ryan, Inc. - 468113. 7/14/2011 Iicii'i� Page 8 • 455 Weaver Park Rd SOLD 73,383 SF Class C Manufacturing Building Built in 1977(cony) Legal Desc: Lot 1 Weaver Business Park Parcel No: 1315024-24-001 Document No: 2909873 Sale History: Sold for$2,768,500($37.73/SF)on 02/11/2008 Sold for$2,250,000($30.66/SF)on 09129/1995 Transaction Notes We were unable to determine the amount of loan or down payment,if any. Mill Levy:74.882 Current Industrial Information ID: 104207 Bldg Type: Manufacturing RBA: 73,383 SF Bldg Status: Built in 1977 %Leased: 45.6% Rent/SF/Yr: $4.80 Stories: 1 Bldg Vacant: 53,017 SF Total Avail: 50,880 SF Building FAR: 0.35 Warehouse Avail: 50,880 SF Office Avail: 0 SF CAM - Max Contig: 50,880 SF Zoning: BLI Smallest Space: 7,437 SF Owner Type: - Land Area: 4.77 AC Owner Occupied: No Lot Dimensions: - Tenancy: Multi Ceiling Height: 14'0"-20'0" Column Spacing: - Loading Docks: 2 ext(bldg.total) Levelators: None Cross Docks: No Crane: None Drive Ins: 3(total) Const Type: Reinforced Concrete Sprinklers: Yes Rail Spots: None • Rail Line: None Expenses: 2010 Tax @$0.92/sf,2011 Est Tax @$0.92/sf;2010 Ops @$0.77/sf,2011 Est Ops @$0.59/sf Power: 400a 3p Utilities: Gas-Natural,Heating,Sewer-City,Water-City Parking: 173 free Surface Spaces are available; Ratio of 2.50/1,000 SF Features: Corner Lot Location Information Cross Street: Alpine Rd Park Name: Weaver Business Park Metro Market: Denver Submarket: Longmont Ind/Longmont Ind County: Boulder CBSA: Boulder,CO CSA: Denver-Aurora-Boulder,CO DMA: Denver,CO-NE-WY-NV Ryan.) This copyrighted report contains research licensed to Ryan,LLCfkaiRyan,Inc.-468113. 7/14/2011 e Page 9 455 Weaver Park Rd SOLD 73,383 SF Class C Manufacturing Building Built in 1977 (con't) Parcel Number: 1315024-24-001 Legal Description: - County: Boulder Plat Map: 455 Weaver Park Rd � , I S IIISISIMINSWIlel I3r..4.' I I � 1 / r,...11,.... _..... I T ✓_. I _ ,I. .�ins •. • . I a. I Weaver Park Rd � in - - - . ...- ' • _.•I'. I cal . „�I --I . _ .-„I. I 466.. f ...n, • VV • 1 4100 i \ I 1 I > ' 1 13 • 0 I 2 s 8 ,.. . ,..1/41%%>-„,,,,,, I • (IbiliMianievismiheavbibtaKI I — 6 Mai il E Rogers I .. ...........,___ .........................„, wail-h. 1 ,flotc , \\:\iibil:NN \IN . \ __ mememx............I Folanl This copyrighted report contains research licensed to Ryan, LLC fka/Ryan, Inc. - 468113. 7/14/2011 Page 10 FOR VALUATION YEAR-2011 -.. AGENCY AUTHORIZATION FORM Pursuant to A.R.S.§4246001 900047,2004032, 841 STATE BOARD OF APPRAISAL REGISTRATION NUMBERynro11A!z1aa]a cn00063, STATE BOARD OF EQUALIZATION NUMBER • Persons who own,control,or possess property valued by the 1Ap00&THssessor may each year designate an agent to act on their behalf on any matter relating to the review of the valuation of the property before the Assessor or the County or State Board of Equalization. • This designation of an agent expires al the end of the calendar/valuation year. • This form or a copy must accompany any petition,Taxpayer Nolice of Claim,or response to a Notice of Proposed Correction Ned with the Assessor or either Board of Equalization. The original form shall be provided for Inspection by the agent on request of the County Assessor, either Board of Equalization.or the Department of Revenue. • Notices issued by the Assessor or either Board of Equalization relating to the review of the valuation of that property shall be sent to the agent of record. • A petition for Review of Real Property or Personal Property,a Notice of Proposed Correction,or a Taxpayer Notice of Claim will not be accepted unless the Agency Authorization for accompanying the petition is signed by the person who owns,controls,or possesses the property. DESIGNATION OF AGENT (Type or Print) Ryan,LLC .. _ ..:` =-- ".; AGENT/FIRM NAME Rich.Fosburg F .3�.___ _--_.. 602-955-M2,1 CONTACT PERSON - TELEPHONE 16220 N ScotsdaleStht 50 .__:2„:1- __ . - _ - _ ___. MAILING AGGRESS Scottsdale . ,..' _ _- AZ 85254 .. CITY STATE ZIP DESIGNATION MADE BY'(Type or Print) camelN6wnegd7,4e4S4,_RV S*4,-hi y COMPANY NAME Brent Moody .3.ati i ' ,:"' ''� —_ Executive VP-of BO&General Ci NAME OF PERSON OWNING,CONTROLLING OR POSSESSING PROPERTY OR CONTACT PERSON TITLE -.. :. ...Two Marriott Drive , &. _� ,, 7;. _ ._-- 7.-.,:- .-- . ADDRESS . Lincolnshire,It.6.@060;i-71--• '13 - CITY STATE ➢P TELEPHONE I.the undersigned, hereby designate the above name agent to act on my behalf in all matters pertaining to the review and appeal of real or personal property valuation and classification with the Assessor or the Boards of Equalization. This authorization is limited to the properties listed below and on the attached ontinuation f os). S' n re O ' Controlling or Possessing Property Date COUNTY BOOK-MAP-PARCEL COUNTY BOOK-MAP-PARCEL COUNTY BOOK-MAP-PARCEL ElcgozuftuxxxxBflMO(O2Ocxxx El Paso 6524211002 Jefferson 39-203-03-004 Jefferson 40-013-17-011 Weld 120723202014 16220 N.Scottsdale Road anl, Suite 650 Innovative Solutions Scottsdale,AZ 85254 to Taxing Problems. Tel.602.955.1792 Fax 602.955.4892 www.ryanco.com CERTIFIED MAIL- 71791000164910871350 RETURN RECEIPT REQUESTED July 15, 2011 Weld County Board of Equalization P. O. Box 758 Greeley, CO 80632 Re: 2011 Petition to the County Board of Equalization to Appeal Assessor's Determination Dear CBOE Representative: Please accept this letter as our official notice of protest on the following referenced parcels: Client Parcel# Account# Camping World 120723202014 R7053098 Circle K 131310100033 R5610086 Meritage(Erie Commons & Vista Ridge) (see attached) Thank you for your assistance in this matter. If you have any questions or need any additional information,please contact me at 602.955.1792. Sincerely, Bretta Ferrie Director Property Tax BF/KT CLERK TO THE BOARD PHONE (970) 336-7215 EXT 4226 FAX: (970) 352-024242 WEBSITE: www.co.weld.co.us 915 10TH STREET P.O. BOX 758 C. GREELEY, COLORADO 80632 COLORADO July 25, 2011 REALTY INCOME CORPORATION C/O K & C RV CENTERS LLC 14504 1-25 FRONTAGE RD LONGMONT, CO 80504 Parcel No.: 120723202014 Account No.: R7053098 Dear Petitioner(s): The Weld County Board of Equalization has set a date of July 29, 2011, at or about the hour of 4:00 PM, to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Centennial Center, First Floor Hearing Room, 915 10th Street, Greeley, Colorado. You have a right to attend this hearing and present evidence in support of your petition. The Weld County Assessor or his designee will be present. The Board will make its decision on the basis of the record made at the aforementioned hearing, as well as your petition, so it would be in your interest to have a representative present. If you plan to be represented by an agent or an attorney at your hearing, prior to the hearing you shall provide, in writing to the Clerk to the Board's Office, an authorization for the agent or attorney to represent you. If you do not choose to attend this hearing, a decision will still be made by the Board by the close of business on August 5, 2011, and mailed to you on or before August 12, 2011. Because of the volume of cases before the Board of Equalization, most cases shall be limited to 10 minutes. Also due to volume, cases cannot be rescheduled. It is imperative that you provide evidence to support your position, This may include evidence that similar homes in your area are valued less than yours or you are being assessed on improvements you do not have. Please note: The fact that your valuation has increased cannot be your sole basis of appeal. Without documented evidence as indicated above, the Board will have no choice but to deny your appeal. If you wish to obtain the data supporting the Assessor's valuation of your property, please submit a written request directly to the Assessor's Office by fax (970) 304-6433, or if you have questions, call (970) 353-3845. Upon receipt of your written request, the Assessor will notify you of the estimated cost of providing such information. Payment must be made prior to the Assessor providing such information, at which time the Assessor will make the data available within three (3) working days, subject to any confidentiality requirements. 2011-1885 AS0079 REALTY INCOME CORPORATION - R7053098 Page 2 Please advise me if you decide not to keep your appointment as scheduled. If you need any additional information, please call me at your convenience. Very truly yours, BOARD OF EQUALIZATION EA Esther E. Gesick Deputy Clerk to the Board cc: Christopher Woodruff, Assessor RYAN LLC SUITE 650 16220 N SCOTTSDALE ROAD SCOTTSDALE AZ 85254 2011-1885 AS0079 Donna Bechler From: Courtney Anaya Sent: Tuesday, July 26, 2011 1:37 PM To: Esther Gesick Cc: Donna Bechler Subject: FW: R7053098 -Camping World — Q f _Q rx car y J FYI From: Wade Melies Sent: Tuesday, July 26, 2011 12:00 PM To: Courtney Anaya; Charles Jack Subject: FW: R7053098 - Camping World FYI From: Ferrie, Bretta fmailto:Bretta.Ferrie@rvan.coml Sent: Tuesday, July 26, 2011 11:39 AM To: Wade Melies Subject: R7053098 - Camping World Hi Wade, We would like to request an administrative denial on our 2011 appeal of the subject property. Please let me know if you need anything else from me in this regard. Thanks, Bretta Bretta K. Ferrie Director Ryan MAX at Kierland 16220 North Scottsdale Road Suite 650 Scottsdale, Arizona 85254 602.955.1792 Ext. 28-1009 602.284.2239 Mobile 602.955.4892 Facsimile www.ryan.com Innovative Solutions to Taxing Problems Privileged/Confidential Information may be contained in this message. If you are not the addressee indicated in this message(or responsible for delivery of the message to such person),you may not copy or deliver this message to anyone. In such case,you should destroy this message, and notify us immediately. If you or your employer do not consent to Internet email messages of this kind, please advise us 1 oZO/l /75?-5 Hello