Loading...
HomeMy WebLinkAbout20091983.tiffits COLORADO September 9, 2009 CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4226 FAX: (970) 352-0242 P. O. BOX 758 GREELEY, COLORADO 80632 SAFEWAY STORES 45 INC C/O CPTS (No. 1828) 1371 OAKLAND BLVD SUITE 200 WALNUT CREEK, CA 94596-4349 RE: THE BOARD OF EQUALIZATION, 2009, WELD COUNTY, COLORADO - STIPULATE PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE DESCRIPTION OF PROPERTY: ACCOUNT #: R0722701 PARCEL #: 131119304005 - FIR FS L5 FIRESTONE SAFEWAY SITUS: 8134 13 CR FIRESTONE 80520 Dear Petitioner: On July 28, July 30, and August 5, 2009, 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 the Stipulation on your petition of appeal of the County Assessor's valuation of your property described above, for the year 2009. The Stipulation was entered into between the Assessor and said petitioner(s), and accepted by the Board of Equalization, agreeing that the assessment and valuation of the Weld County Assessor be Stipulated as follows: ACTUAL VALUE AS DETERMINED BY ASSESSOR ACTUAL VALUE AS STIPULATED $4,825,110 $4,598,046 cc . 2009-1983 ASS0073 , dt PCT C cr-nnc j Clq /3.01/07 SAFEWAY STORES 45 INC - R0722701 Page 2 If you have questions or need additional information, please do not hesitate to contact me at (970) 336-7215, Extension 4226. Very truly yours, Esther E. Gesick Deputy Clerk to the Board cc: Christopher Woodruff, Assessor 1ST NET REAL ESTATE SERVICES, INC. 3333 S. WADSWORTH BLVD STE 200 LAKEWOOD, CO 80227 2009-1983 AS0073 2009 COUNTY BOARD OF EQUALIZATION WELD COUNTY ASSESSOR'S ACCOUNT NUMBER R0722701 STIPULATION (As To Tax Year 2009 Actual Value) RE PETITION OF: NAME: SAFEWAY STORES 45 INC CIO CPTS (No. 1828) 1371 OAKLAND BLVD SUITE 200 WALNUT CREEK CA 94596-4349 0 u Petitioner(s), SAFEWAY STORES 45 INC and the Weld County Assessor, hereby enter into this Stipulation regarding the tax year 2009 valuation of the subject property, and jointly move that the Board of Equalization to enter its order based on this Stipulation. Petitioner(s) and the Assessor agree and stipulate as follows: 1. The property subject to this Stipulation is described as: FIR FS L5 FIRESTONE SAFEWAY SITUS: 813413 CR FIRESTONE 805200000 2. The subject property is classified as Commercial property 3. The County Assessor originally assigned the following actual value to the subject property for 2009. LAND: $1,294.700 IMPROVEMENTS: $3.530,4]0 TOTAL: $4,825,110 4. After further review and negotiation, the petitioner(s) and Weld County Assessor agree to the following actual value for the subject property. LAND: $1,294,700 IMPROVEMENTS: $3,303,346 TOTAL: $4,598,046 2009-1983 Loo/1oo@j aossassvw nooarrag ££6950£OLB YVd Y£:5i 8002/YT/LO. JUL-I4-CUUJ IIC) 14: ID r. UUJ/UUI 5. The valuations, as established above, shall be binding only with respect to tax year 2009. 6. Brief narrative as to why the reduction was made: Value, was adjMsted based upon the general market prices per so. ft. that were in place in the baseperiod. additionally the income was considered as backup for the market, 7. A hearing has not yet been scheduled before the Board of Equalization. DATED this 13 day of July, 2009. Petitioner(s) or Attar Petitioners) or Attorney Address: Address: �,� (-Lhasa(44r/wzeziL st itv�rd 111227 Telephone: 7ZZ Telephone: County Assessor. O25v xik ADDRESS: 1400 N.17th Avenue Greeley. CO 80631 (970) 353-3845 ext. 3656 L00/500Lj aossassvnwnoaa- mst CC696000L6 YVa 5C:5i 600Z/VI/ho REAL AND PERSONAL PROPERTY NOTICE OF DETERMINATION Christopher M. Woodruff WELD Assessor 1400 N 17th Ave GREELEY, CO 80631 Date of Notice: 6/24/2009 Telephone: (970) 353-3845 Fax: (970) 304-6433 Office Hours: 8:00 AM - 5:00 PM SCHEDULE/ACCOUNT NO. ' .; r TAXYAt -- 11'AX AREA , LEGAL DESCRIPTION/ ' ,, ; PHYSICAL LOCATION R0722701 2009 3929 FIR FS L5 FIRESTONE SAFEWAY SITUS: 8134 13 CR FIRESTONE 805200000 8134 13 CR FIRESTONE, CO 805200000 cc ge La a O ct a SAFEWAY STORES 45 INC C/O CPTS (No. 1828) 1371 OAKLAND BLVD SUITE 200 WALNUT CREEK, CA 94596-4349 PROPERTY CLASSIFICA1 ASSESSOR'S VALUATION ACTUAL VALUE PRIOR .:., TO REVIEW ACTUAL VALUE AFTER REVIEW COMMERCIAL 4,825,110 4,825,110 - TOTAL $4,825,110 54,825,110 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: LHO2 - No change has been made to the valuation of this property. Colorado law requires us to send this notice of denial for all properties on which we do not adjust the value. 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 b¢f_pr ask your Assessor for a listing of the local taxing authorities. Please refer to the reverse side of this notice for additional inforrhationi-- C 1ST NET REAL ESTATE SERVICES INC 3333 S WADSWORTH BLVD SUITE 200 LAKEWOOD CO 80227 w D N.) CJ -1 r:1�� (J) 1 5-DPT-AR PR 207.08/08 NOD 8: 3383 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, Colorado 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 11. 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 9`" Avenue and 9°' Street, P.O. Box C Denver, CO 80203 Greeley, Colorado 80632 (303) 866-5880 Telephone (970) 356-4000 Ext. 4520 www.dola.colorado.qov/baa 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. ( BOARD OF EQUALIZATION What is your estimate of the property's value as of June 30, 2008? (Your opinion of value in terms of a specific dollar amount is required for real roperty pursuant to § 39-8-106(1.5), C.R.S.) 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.) f ATTESTATION I, t e gndersigng owner or agent' of the property identified above, affirm that the statements on any attachments hereto ar true and complete. 72O -%z -pSd 7-9.07% ignature - Telephone Number Date Attach letter of authorization signed by property owner. 15-DPT-AR PR 207-08/08 NOD ft 3383 co. m r n m ' °P': 0 0 0 0 1 • I E U o t Oo 0 0 O ✓ m J 0 3` 0 O 0 y • a ' a c • n O m y Q ttr-3`"e H m o O a g i o w co 0 r 6 r 0 0p o o L td 3a g g� O �.J n o Q to N Q zm • G c 0E m , a y U 0 ' _ K 0 0 8 42 0 0 CO 0 N go Y U q tit 4 O b 0 0 0 1 O a G o o c o U Z OW N a N 01 N N 0 O IC N M a N 0 { O NI L VI a Q V a a n utCO C a. NO tr r NN d M O o,0 N- L 0 U 0 C a` N a N A o T r m al n Na. @ O N N h 91. Co) 0 b 0 0 0 c -a O o6 000 @K O) 1)) L e0 T. N N @ O O or C V O . a N o a ct (--40 10 g N N .4f i 0 t1 R a r Y rt:le m a ca 00, Q a cvs 40 pg 41 tot N gl Fy al0oi a y ; 0 e 0 o o : C ) 1 0 es Iufr s Proof Of Concpt UUU UUQL tO N Proof Of Concpt 0) N h III N ti o 0 CO N 01 It 0 0 N N N Na g 0 w O o O m Rm a , rJ o 2- 9 c rt `tn 0 o G) •^—M. co a O o to a^ o. 4 0 0 n n h aw-tea CO 10 11) Ol 0 N W O N N a ▪ b e a N N N o N N ry ▪ CON 0 O f e M 01 • YI 1ri u ✓ 0 CO N 01 e000 e q d y Proof Of Con a ti o 0 a6 o S N 0 0 0 o CO 0 0 CO O 0 z ^ C Q N 0 a O a 0 O N Oco CO N M o e0 0 Lb N 6 �' m c rl 0 o W b 4 E ro m E U Cost Approach Direct Cost of Exsisting Improvements Building: 56,766 Square Feet @ $ 46.00 per square feet $ 2,611,236 Site Improvements SF 258,940 @ $ 2.00 $ 517,880 Total Direct Cost $ 3,129,116 Developers Indirect Cost and Profit @ 10% $ 312,912 Replacement Cost New $ 60.64 $ 3,442,028 Depreciation, which is a loss in value of improvements, may be thought of in three catagories. Physical Depreciation: Economic Depreciation: Functional Depreciation: Depreciated Improvement Value Add land to Value $ 5.00 Total 10% $ (344,203) $ 3,097,825 $ 1,294,700 $ 4,392,525 Recorded Buyer: True Buyer: 1: S. Parker Rd - (Former) Target Parker, CO 80134 - Parker/Castle Rock Submarket y Sale on 12/01/2006 for $6,500,000 ($67.74/SF) - Research Complete 95,957 SF Retail General Freestanding (Community Center) Building Built in 1994 arosa Dr Pth a, u Microsoft' 0:3 Virtual Earth" Z ri_8W Buyer & Seller Contact Info Buyer Broker: Parker Bullseye L.L.C. Woodbury Corporation 2733 E Parleys Way Salt Lake City, UT 84109 (801) 485-7770 No Buyer Broker on Deal Sale Date: Escrow Length: Sale Price: Asking Price: Price/SF: Price/SF Land Gross: Percent Leased: Tenancy: Transfer Tax: Legal Desc: Parcel No: Document No: 12/0112006 (326 days on market) 60 days $6,500,000 -Confirmed $67.74 $18.65 Single $650 Recorded Seller: True Seller: Listing Broker: Transaction Details Lot 2, Maclachlan Subdiv Flg. No. 1 2233-103-08-005 0105338 Sale Type: Bldg Type: Year Built/Age: GLA: Land Area: Percent Improved: Total Value Assessed: Improved Value Assessed: Land Value Assessed: Land Assessed/SF: SOLD F$FlL}yid;; Cur,J u;r;,:is;vr_+.�:,u Target Corporation Target Corporation 1000 Nicollet Mall Minneapolis, MN 55403 (612) 304-6073 Jones Lang LaSalle Brian Murphy (214) 545-6900 Investment Retail - General Freestanding (Community Center) Built in 1994 Age: 12 95,957 SF 8 AC (348,480 SF) 42.9% $1,982,710 in 2006 $850,850 $1,131,860 $3.00 ID: 1191311 This copyrighted report contains research licensed to 1st Net Real Estate Services -89536. 6127/2009 Page 11 Research Complete 93 600 iSF,R tad Generaitreesta(nding B a 'g Built in 1984 OS Hover St t. w80501 Lorgmontp}7bmg /2112007 fpr $4000,00044 Buyer Type: Buyer Broker: Recorded Buyer: True Buyer: Recorded Seller: True Seller. Twin Peaks Mall t MkrosSt Virtual Earth" „ aaea: s: avlt StatailuaSILy:1.1%razL sane ryer & Seller Contact) f Twin Peaks Mall Associates Ltd CBL & Associates Properties, Inc. Charles Willett 2030 Hamilton Place Blvd Chattanooga, TN 37421 (423) 855-0001 REIT (Public) No Buyer Broker on Deal i Sou yds The Higbee Company Dillard's, Inc. 1600 Cantrell Rd Little Rock, AR 72201 (501) 376-5200 Listing Broker: No Listing Broker on Deal Sale Date: Escrow Length: Sale Price: Asking Price: Price/SF: Price/SF Land Gross: Percent Leased: Transfer Tax: 06/21/2007 $4,000,000 -Confirmed $42.74 $11.31 $400 Financing: Not Available Legal Desc: Lot 4A Twin Peaks Mall Parcel No: 1315090-40-004 Document No: 2865015 Transaction Details Sale Type: Bldg Type: Year Built/Age: GLA: Land Area: Percent Improved: Total Value Assessed: Improved Value Assessed: Land Value Assessed: Land Assessed/SF: Investment Retail - General Freestanding Built in 1984 Age: 23 93,600 SF 8.12 AC (353,707 SF) $1,305,000 In 2006 „ID:1342275- This copyrighted report contains research licensed to 1st Net Real Estate Services - 89536. 5/27/2009 Page 1 - 15220 E≤6th Ave, Former Albertson's Supermarket #i IAurarra, Co 8001 ,'Aurora Submarket: ale'1.o` 10/01/2007 for$1 600000($38 66/SF} Research Complete /28,4'1 384 .;Retail Supermarket (Neighborhood Center): Building Built in 1980 Bldg -, SOLD EWV1Ave E.6e1 Aye 611 Ave _.... iii es Z Microsoft Virtual Earth'" p n rn Z. r 5 'n I R J in‘ .. mat.3airndlr13!.:ik.:r.ka,-!L3d.v/Et,'j. Z c'3Ch-« m 2 ..... _.. eStx Pi 4, 500 yd; 1 i � M • - ork tr POET � rJ Buye 84 (0 r' Contact IMe,ej Recorded Buyer: True Buyer: Buyer Broker: Sixth and Chambers LLC Western Centers, Inc. Mark Schwartz 2821 S Parker Rd Aurora, CO 80014 (303) 306-1000 Earthwise Inc Recorded Seller: Listing Broker: NK-Remainder Interest LLC 1 Penn Plz New York, NY 10119 (212) 692-7200 Legend Retail Group Brian Hollenback (720) 529-2987 Jesse Yuran (720) 529-2984 Transaction`Details ID: 1414152 Sale Date: Escrow Length: Sale Price: Asking Price: Price/SF: Price/SF Land Gross: Percent Leased: Tenancy: Transfer Tax: Legal Desc: Parcel No: . 10/01/2007 (365 days on market) Sale Type: Investment 90 days Bldg Type: Retail - Supermarket (Neighborhood Center) $1,800,000 -Confirmed Year Built/Age: Built In 1980 Age: 27 $1,900,000 GLA: 41,384 SF $38.86 Land Area: 4 AC (174,240 SF) $9.18 - Single Percent Improved: 75.4% $160 Total Value Assessed: $687,000 In 2008 Improved Value Assessed: $502,780 Land Value Assessed: $164,220 Land Assessed/SF: $0.00 Lot 4 Blk 1 Chambers Village East Subdiv Flg No. 1 1975-07-1-03-006 This copyrighted report contains research licensed to1st Net Real Estate Services - 89536. 5/2712009 Page 16 550E 102n Denver CO .110#917N0,,, :,Subprlark Sale on 01(30/2007 for $5100 000 c$4697/SF} - Research Complete 108,575 SF Retail General Free4ta dingBuilding Built in 1988 True Buyer: Buyer Type: Buyer Broker: Sale Date: Escrow Length: Sale Price: Asking Price: Price/SF: Price/SF Land Gross: Percent Leased: Tenancy: Sale Conditions: Transfer Tax: Legal Desc: Parcel No: Document No: Wal-Mart Realty 2001 SE 10th St Bentonville, AR 72712 (479) 273-4535 Corporation Jones Lang LaSalle Joren Peterson Recorded Buyer: Wal-Mart Realty Recorded Seller: M'crosoft' Virtual Earth' eller Contact:lnfd True Seller: Seller Type: Listing Broker: 'ansaction Details;; E 99th PI m moo. 3 ;JO4d9z- iSl.3 'aQ3:Y:trttettalJ Elk Grove Limited Partnership 10024 Devon Limited Partnership LuntiBerteau Limited Partnership Centennial Palace on the Lake Limited Partnership Inland Real Estate Corporation 2901 Butterfield Rd Oak Brook, IL 60523 (630) 218-8000 Corporation No Listing Broker on Deal ID: 1231038. 01130/2007 75 days $5,100,000 -Confirmed $46.97 $14.40 Multi Double Escrow $510 Sale Type Bldg Type Year Built/Age GLA Land Area Percent Improved: Total Value Assessed: Improved Value Assessed: Land Value Assessed: Land Assessed/SF: Lot 1, Block 3, Horizon Meadows Subdiv. Flg. No. 1 8 easements 1719-15-1-02-012 0011975 Investment Retail - General Freestanding Built in 1988 Age: 19 108,575 SF 8.13 AC (354,143 SF) 43.9% $1,098,110 in 2006 $482,170 $615,940 $1.00 This copyrighted report contains research licensed to 1st Net Real Estate Services -89536. 5127/2009 Page 20 5005 W 120th Ave - K -Mart Broomfield, CO 80020 - Broomfield County Submarket Sale on 11/30/2006 for $3,000,000 ($33.00/SF) - Research Complete 90,900 SF. RetaU General Freestanding (Community Center) Building Built in 1979 Recorded Buyer: Lone Ranger LLC 9701 Wilshire Blvd Beverly Hills, CA 90212 Buyer Type: Individual • Sale Date: 11/30/2006 Escrow Length: - Sale Price: Asking Price: Price/SF: $33.00 Price/SF Land Gross: $9.04 ~Buyer & Seller Cot info It Ave Yates Ct •. • '.- W 120th Ave ,, W t2dh Ave --- -. .---- -- to A mix rosef r* 1M 5, Atit 1128r 287 cn z t Virtual Earth- "!,21.0 Recorded Seller: Broomfield Partners LP $3,000,000 -Full Value Percent Leased: - Transfer Tax: $300 No. of Tenants: 1 Tenants at time of sale: Kmart Legal Desc: Parcel No: Document No: Transaction Details Broomfield Plaza Subdiv Replat Blk 2 1573-314-08-006 0016361 Sale Type: Investment Bldg Type: Year Built/Age: GLA: Land Area: Percent Improved: Total Value Assessed: Improved Value Assessed: Land Value Assessed: Land Assessed/SF: IRa=1440070 Retail - General Freestanding (Community Center) Built in 1979 Age: 27 90,900 SF 7.62 AC (331,927 SF) 39.7% $798,880 In 2005 $317,460 $481,400 $1.00 This copynghtea report contains research licensed to 1st Net Real Estate Services - E9536. 5/27/2009 Page 1 8134LeaseGnd.xls \ k3 ! Etng r cILI co 3 en 6 co o 1/44 WI en {// Selected Rental Rate 8134 13CR Total Operating Revenue 56,766 Rentable SF @ $ 7.00 Operating Expense Reserve for Replacement/Management Expenses 5% Total Expenses Expenses Per SF Net Income from Rental Real Estate Capitalization Rate 8.00% Indicated Property Value Vacancy5% 2008 18,875 $ 18,875 $ 0.33 2008 $ 397,362 $ (19,868) $ 377,494 $ 18,875 $ 358,619 0.08 $ 4,482,740 JLO-LLb-O /Jb SAFEWAY TAX PAGE 02/13 1st Net Real Estate Services, Inc.. 3333 S. Wadsworth Blvd. Ste. 200 Lakewood CO 80227, Phone:720-962-5750, Fax:720-962-5760 LE 1.1'hR OF AUTHORITY To Whom It May Concern: I, Robin H. Knight , am the owner, and/or agent of the owner, of the following real and/or business personal property: ADDRESS PARCEL/SCHEDULE NUMBER COUNTY See Exhibit A, Attached hereto and incorporated herein by this reference I do hereby authorize 1st Net Real Estate Services, Inc. to represent my interests and to appear on my behalf before County Assessor, County Board of Equalization, Board of County Commissioners, the Colorado Board of Assessment Appeals, binding arbitration, District Court, all Colorado state courts, and/or any other agency or entity with regard to any and all matter(s) concerning the valuation and taxation of the above mentioned property(s) for tax years 2009, and all previous years as allowed by Colorado law. The undersigned requests that copies of all decisions from any of the above entities, or any other agency or entity, as is involved pertaining to matters of valuation and/or taxation for the above -mentioned property(s), be mailed to: 1st Net Real Estate Services, Inc. 3333 South Wadsworth Blvd. Suite 200 Lakewood, CO 80227 Phone: (720) 962-5750 Fax: (720) 962-5760 Dated this 3e Owner/ Tenant: Signature: Safeway of 91 C 20 V U ' fewav Inc. `� J Print Name: Robin H. Knight Title: -'«iftir r/cE trae Address: 5918 Stoneridee Mall Rd. City, State. Zip: Pleasanton, CA 94588 Phone: 925-226-5565 Fax#: 925-226-5738 STATE OF CALIFORNIA ) SS COUNTY OF Alameda Swom to and subscribed before me this 38th day of March 20 nq by Robin H. Knight . Witness my hand and official seal. My Commission expires March 8, 2011 Notary Public �j Address 591A StnneriCAP Mal R3ad9 Pleasanton. CA NTP7 t¢t. / Mfec my a MIJ Commwlee I 11*N1$ Notary Pubic • CeNetno ✓JO/ JU/ LCJu7 10:4U 715-126-5738 SAFEWAY TAX PAGE 13/13 4ddress 617 W 29TH 1322 E 8TH ST. 1348 E 8TH ST VACANT LAND VACANT LAND 1231 S PRAIRE 1231 S PRAIRE 1200 2ND AVE 37500 E HWY 40 1008 SUMMIT FRISCO 1101 EHWY24 WOODLAND PARK 1122 11TH Ave. 100 S ROLLIE AVE 101 S ROLLIE AVE Fuel 1535 MAIN 1536 MAIN Fuel 8206 13 CR. 8206 13 CR. 8206 13 CR.Fuel EXEMIT A Schedule # 05-241-02-041 04-293-34-010 04-293-34-001 04-293-34-006 04-293-34-011 15-034-31-006 15-034-33-003 3531330012 R4251212 1900139 1900072 '031'302'190.060 6031.302.190.020 R3239986 R1395402 R1395802 R0584601 R0584701 R0722701 R5411386 R0722901 PUEBLO PUEBLO PUEBLO PUEBLO PUEBLO PUEBLO PUEBLO RIO GRANDE ROUTE SUMMIT SUMMIT TELLER TELLER WELD WELD WELD WELD WELD WELD WELD WELD County Hello