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Home My WebLink About20182858.tiffx)50 S. CHERRY STREET. SUITE 320 DENVER, CC) 80246 PH: 303-757-8865 FAX: 303-757-7691 November 29, 2018 Weld County Board of Equalization 1150 O Street P.O. Box 758 Greeley, CO 80632 Dear Board, Regarding Schedule Number R7455298, there is no information to supply per Colorado Revised Statute 39-8-107 (5)(a)(I) as this property was owner occupied during the period for which information is being requested. The BAA Docket Number for this Petition is 74333. Please contact us with any questions. Sincerely, Nina Langston Assistant to Barry J. Goldstein, Esq. and Kendra L. Goldstein, Esq. C..Znnmc-nic-c....+;ons cc : CaSR CCwt30/3- n/ cc -) 1/(0/(.8-a/ co( t2- ao t8'- ag58' CkSo l OO Chloe Rempel From: Sent: To: Subject: Attachments: Admin <admin@sterlingpts.com> Friday, August 31, 2018 3:53 PM Chloe Rempel BAA Petitions Filed 8.31.2018 2018 BAA Packet_1480 Main Street_WAL.pdf; 2018 BAA Packet_3635 23rd Ave_R7455298 NBH.pdf Caution: This email originated from outside of Weld County Government. Do not click links or open attachments unless you recognize the sender and know the content is safe. Good afternoon Chloe, Please see attached our appeals filed to the BAA today. The petitions are for Schedule numbers: R2569303 R7455298 Please let us know if you have any questions. Thanks, Liliana Perez I Administrative Assistant E- mail admin@sterlingpts.com Office: 303-757-8865 Ext. 106 I Fax: 303-757-7691 STARLING PROPERTY TAX SPECIALISTS_ INC. 950 S. Cherry Street, Suite 320 Denver, CO 80246 www.sterlingpts.com Cx25neinewnIco,+;on5 ci'fro fIg- cc.nsciDtbp/GwJca, C.aCexa cl ov 8'i 2018-2858 0\30S00 PETITION TO STATE BOARD OF ASSESSMENT APPEALS 1313 Sherman Street, Room 315 Phone: 303-864-7710 Denver, Colorado 80203 Fax: 303-864-7719 SUBMITTED TO BAA ONLINE: 8/31/2018 Property Owner: Bank Midwest NA Subject Property: 3635 23rd Avenue Schedule Number(s): R7455298 Appeals the decision of the Weld County Date: 08/30/2018 Board of Equalization This appeal is: Valuation/Protest Appeal The subject property is currently classified as: Commercial Actual Value assigned to the subject property$1,085,000 For Office Use Only 74333ND Docket No. Fee: Y Check/Credit Card #1 Payment Trans #: Dated: 08/02/2018 Tax Year(s): 2018 Petitioner's estimate of value: $939,000 Estimated time for Petitioner to present the appeal: 4 hours. Not less than 30 minutes. Board will allow equal time to County or Property Tax Administrator. Appearance: Petitioner will be represented by an attorney Attorney would like to appear in person if the property owner is an entity. it must appear under the representation of an attorney licensed in Colorado except as follows. A closely held entity may be represented by an officer of the entity as long as the amount in controversy does not exceed $15.000. exclusive of costs. interest or statutory penalties. A closely held entity can have no more than three owners. See Section 13-1-127. C.R.S A closely held entity that will be represented by an officer of the entity must provide a letter to the Board with this petition stating that it has no more than three owners and that the tax amount at issue does not exceed $15,000. A trust filing a petition may be represented by a trustee, an attorney or an agent Filling Fee: $101.25 Petitioner will be represented by an agent or by an attorney. In the space below, please explain why you disagree with the value assigned to the subject property See uploaded information Documents attached to this petition: Additional Documentation Additional Optional Information Related to your Appeal Certificate of Service I certify that a true and correct copy of the foregoing Petition to the State Board of Assessment Appeals and attachments were mailed, faxed or hand delivered to the County Board of Equalization, the Board of County Commisioners or the State Property Tax Administrator who made the decision relating to this appeal and to all co -owners or parties directly interested in the subject property on the date I submitted the Petition to the State Board of Assesment Appeals ATTESTATION I understand that in accordance with Sections 18-8-503 and 18-8-501(2)(a)(I), C R S , false statements made herein are punishable by law I state under penalty of perjury in the second degree, as defined in Section 18-8-503, C R S that I am the owner of the property that is the subject of this appeal, or I am the authonzed agent or attorney for the owner of the property that is the subject of this appeal, and The information in this Petition to the State Board of Assessment Appeals (including all attachments) is true and correct to the best of my knowledge and belief I understand that, upon acceptance by the Board of Assessment Appeals, I will need to pay the required filing fee associated with this Petition, if any I understand that no further changes can be made to the Petition or attachments, unless corrections are required by the Board of Assessment Appeals I understand my obligation to mail, fax or hand deliver a true and correct copy of the Petition (including all attachments) to the County Board of Equalization, the Board of County Commissioners or the State Property Tax Administration who made the decision relating to this appeal and to all co -owners or parties directly interested in the subject property I will mail, fax or hand deliver the Petition (including all attachments) on the date I submit the Petition to the Board of Assessment Appeals Petitioner's mailing address is required even if Petitioner is represented by an agent or attorney Filed Online with Certification Signature of Attorney Filed Online with Certification Signature of Petitioner Goldstein Law Firm, Llc Bank Midwest NA Company Name Property Owner Goldstein Law Firm, LIc - Kendra L Goldstein Esq Joe Schwecke Pnnted Name Printed Name 950 S Cherry Street, Suite #320 7800 East Orchard Road, Suite 300 Mailing Address Mailing Address Denver, CO 80246 Greenwood Village, CO 80111 City, State, Zip Code City, State, Zip Code Telephone 303-757-8865 Telephone 720-529-3336 Daytime number Email kendra@goldsteinlf com Email It is the Petitioner's responsibility to notify the BAA of any change of address Petitioners are strongly encouraged to read the Instructions and Rules of the Board of Assessment Appeals prior to completing this Petition Form The Instructions and Rules are available on the Web at www dola Colorado gov/baa or may be requested by phone at 303-864-7710 PROPERTY TAX SPECIALISTS. INC. May 8, 2018 Weld County Board of County Commissioners c/o Mr. Christopher Woodruff Weld County Assessor 1400 N. 17th Avenue Greeley, CO 80631 Attn: Susan Gundry RE: 3635 23rd Avenue (Schedule No. R7455298) (the "Property") Dear Commissioners: 950 S. Cherry Street Suite 320 Denver, CO 80246 303.757.8865 fax 303 757.7691 www.sterlingpts.com The undersigned, Sterling Property Tax Specialists, Inc., represents the owner of the Property for p rtY the purpose of protesting the 2018 Valuation. A copy of the Letter of Authorization is attached hereto and made an integral part hereof. Only the schedule number referenced hereinabove is protested hereunder. The Property consists of an owner -occupied bank with 5,425 square feet above grade and 5,425 square feet basement area. For tax year 2018, the Assessor has valued the Property at $1,085,000. p Y The marketplace has seen a shift in the desirability of branch banks over the last several years, , which has been documented by the escalation of branch closures which exceeds the number of branch openings. Attached hereto as Exhibit A and made an integral part hereof are articles relating to the change in desirability and reduced consumer need of the branch bank. Due to this change in consumer needs, the banking industry has altered their business model, and as a result, their real estate needs have changed. Bank branches are smaller in size and fewer in number, while some are transferring from free-standing brick and mortar building s to kiosk locations within discount retail stores, grocery stores, and fast food restaurants. In valuing the Property, Petitioner has conducted an income approach utilizing market rental information available. Attached hereto as Exhibit B and made an integral part hereof is a compilation of market lease information relating to banks or properties similar in size and nature to that of the subject Property. The majority of this information contains starting and asking lease rents as gathered by CoStar. Also included is an excerpt from an appraisal conducted during the base period for a free-standing bank building, which concluded to a lease rate of $15.50 triple net. Additionally, Petitioner was confidentially supplied with an executed lease at a rental rate of $13.50 per square foot in the base period for a former bank facility located within the metro area. Upon review and consideration of the market rents as set forth in Exhibit B and the location of the Property, Petitioner contends the appropriate market rental rate for the Property is $12.50 per square foot NNN for the above grade square footage. 3635 23rd Avenue Page 2 To the market rental rate of $12 50 per square foot for the above grade area, Petitioner has applied a 10% vacancy allowance, and to the Effective Gross Income, Petitioner has utilized an 8% expense ratio Our income approach is as follows Use Sf Rate Main I evel PGI V&C 10% EGI Exp 8% NOI 5,425 $12 50 $67,813 $6,781 $61,031 $4,883 $56,149 Petitioner, in valuing the basement area of the Property, has relied on market rental rates applicable to basement area office space Based upon data collected internally by Petitioner's agent, Sterling Property Tax Specialists, Inc , most basement area office space in bank buildings lease for approximately $5 per square foot NNN. Rentable basement area is typically reduced by 5% to 7% of the gross area for stairway and mechanical areas Petitioner utilized rentable square footage of 95% of the gross square feet To this Potential Gross Income, we have applied a market vacancy allowance of 20%, and an expense allowance of 8% Our income approach for the second floor office space is as follows Use Sf Rate Basement Area 5,154 $5 00 PGI $25,770 V&C 20% $5,154 EGI $20,616 Exp 8% $1,649 NOI $18,967 In determining the appropriate capitalization rate, Petitioner has taken into consideration the average capitalization rate as reported in the Summer 2016 Burbach and Associates Real Estate Survey for low rise office of 7 6% as branch banks are most similar to office properties in regard to function, finish and design Petitioner additionally gave consideration to the concluded capitalization rate of 7 8% as determined in the base period appraisal of a bank property contained in Exhibit B Accordingly, given the Property's location outside of the metro area, Petitioner has applied an 8% capitalization rate in its analysis The combined Net Operating Income for the Property is $75,116 Applying an 8% capitalization rate yields a total actual value of $939,000 (rounded) as shown below 363S 23rd Avenue Page 3 Combined NOI Capitalization Rate Capitalized Value Sall§ 0.080 19.394QQQ (rounded) Based upon the foregoing, Petitioner hereby requests the Board adjust the value of the Property for calendar year 2018 to $939,000. All information contained herein should be considered confidential and not available to any third parties. Sincerely, STERLING PROPERTY TAX SPECIALISTS, INC. By: Darla K. Jaramillo, Property Tax Consultant LETTER OF AUTHORIZATION November 2, 2016 Sterling Property Tax Specialists, Inc 950 South Cheny Street, Suite 320 Denver, Colorado 80246 RE. 2017 and 2018 Property Tax Assessment Matters Gentlemen The undersigned, as owner(s) of property located in Weld County, Colorado, at SEE ATTACHED, and more particularly described on Assessor's Notice of Valuation, Schedule No(s) SEE ATTACHED hereby authonzes Sterling Property Tax Specialists, Inc and Goldstein Law Finn, LLC, to act as agent on my behalf regarding all 2017 and 2018 property tax assessment matters, and obtain any and all documents relating thereto and file any protests necessary This Authorization shall be effective as of the date set forth above - BANK MIDWEST, N A By Community Banks of Colorado, A Division of NBH Bank WELD COUNTY BANK By Community Banks of Colorado, , A Division of NBH Bank Joseph C Schwecke, Joseph C Schwecke, Duector of Facilities and Security Director of Facilities and Secunty Telephone 720-529-3320 NMI Banks 2017 / 2018 County WELD Bank Midwest, N A Weld County Bank Address Parcel Number 3635 23`d Avenue R7455298 2395 37th Street R3388705 365 Justin Avenue R3575405 7251 W. 20th St Bldg A R1358002 1270 Automation Dr R0840701 3766 W 10t Street P.2941304 I r kaikrafe MORTGAGES BANK[NO CREDIT CARDS AUTO LOAN! INVESTING TAXES i - -.Frr-allinsam.. Free cre 5trwat —.ore. 5 tech trends driving the future of banking DENISE TROWBRIDGE :tsp :CAI in What will become of the branch bank? You might soon have to bid a teary farewell to your neighborhood bank branch. As more people hank online and via smartphone, banks are evaluating the future of the old-fashioned branch. afte wear : f ! iunitt:c:.; iz 5rench:s !s pluzrmeties," says Brett King, author of "Bank 3.0" and "Branch Today, Gone Tomorrow." Customers don't visit branches as often, "because people do so much more of their day-to-day banking without them." From 2006 to 2010, the number of most types of common transactions performed inside bank branches declined, from opening bank accounts to making deposits and resolving problems, a study by industry research group Novantas LLC says. IL's . .1e the ' tot telittakthe tire, nuMber Ind ILb?ti :.13 of br.i. yiw"r 1:4 end:it,look icor reciteeffici. ca:ap2rvas" toctlyducth encics. eiahlra rs odbra.. hel r ,a t AID7 Ze:et i bx pev butthey're w,.tre ant: 'lave sf7ener 'ta`fs, says Maria Coyne, executive vice nrestdent of consume! end smal1/2kisiness b2nktrg for Cleveland -based KeyBank. Self-service and technology are quickly becoming the name of the game. "There's still a place for the branch, but what happens inside is c'ianging," she says. Here are some of the trends driving the future of banking. :r,'Ep ►ca1tENT i r.•t• ►% Related Articles P124. 7 surprising benefits of higher interest rates from the Federal Reserve 8 ways to vivo money on a budget 4 college savings plans to consider ,y Build a 52 -week savings plan America's 10 b;ggest banks ,, IV -an 41;t'K*'I'Ai. • reutioners Exhibit A Do-it-yourself banking The branch of the future "will look more like an airport check -in that; a t:aditional bank branch." Coyne says. Fewer tellers will manage a handful of self -serve computer screens, much like airline ticket agents at major airports do. A hardful of banks, including IPMorgan Chase & Co., PNC Bank, Bank of America and KeyBank, are testing self-service kiosks, self-service drive-thru lanes and 24 -hour video -teller machines — ATMs with a two-way video feed to a 'ive person. Ryan McInerney, Chase CEO of coisurner banki-tg told investors that bank customers can perform 90 percent of traditional banking transactions at serf -service kiosks, and Chase plans to test the technology at up to 1,000 hank brandies. Banks are already deploying ATMs that let customers deposit cash and checks, "then print a picture of it on the receipt," says Richard Hunt, president of the Consumer Bankers Association. Se?f-serve centers give customers convenient, sometimes 24 -hour options for conducting banking business. For pincr.ecc banks, it's a potential pot of gold. Automation lowers the bank's cost per transaction, making banks overall more prof table," Hunt says. Talk to experts by teleconference Need to meet with a mortgage loan officer or personal banker? Pull up to a computer You'll soon be meeting him or her via teleconference in the branch rather than in person. "As the technology becomes more mairstream, eventually you'll be able to teleconference with bankers from home: King says. Banks, including keyBank and Citizen Financial Group, ar: testing video teleconferencing in several markets, TAKE A ivntr/& OF TO DArs LOW Nona Mt Stares bia ssing% 41 triers toda t' R "The benefit is you can meet with al: kinds of experts in far- flung locations, while in the past you'd have to wait until they came through your area," KeyBank's Coyne says. "(It's more) flexible schedule -wise and ensures customers can meet with an expert who speaks their native language." Customers generally will fill out forms via computer in advance, then head to their local branch for the meeting, The conference screens "are very high -definition, and you real v feel like the person is in the room," Coyne says. "There's no speech delay. It feels like an in -person experience." Goodbye paper and snail mail Banks are pushing paperiess transactions in a • bid to reduce costs. Wells a. . • Fargo customers can have • receipts sent to personal • email addresses. In a bid "" ip% to reduce the nearly 1 billion paper sips its customers generate each year, Chase is testing paperless teller touch screens that can initiate routine banking transactions, such as deposits to bank accounts and check cashing, without the need to fill out a paper slip. `it saves customers the trouble of filling out a form and saves the bank money," King says. Even the making of new bank debit cards is going high-tech. To reduce paper anti mailing costs, some banks are testing "instant' card issuing, where a special machine inside the branch can make new or replacement cards instantly su customers don't have to wait for them to be sent by mail. It eliminates the sometimes two-week wait for a new debit card. Chase has made about 85,000 of these cards in 58 test locations since 2008. Still, eliminating paper and snail mail completely is a long way off, as 'banks will have to make a huge front-end (technology) investment in the next five years to completely get rid of it," King says. More new, mobile types of accounts Customers will soon be gaining more mobile - banking payment and account options. "We're going to see a lot more and different products, and a richer (banking) experience," says King. For instance, plastic debit cards might soon be replaced by a ccntactless sticker — a thin adhesive that can be placed anywhere and used for purchases n place of a card — or snartphone payment app that not only lets you pay but generates reports on your spending habits, King says Banks already are rolling out banking software for iPads and tablets and thinking of new ways to structure bank accounts "that are more purpose-built," with more options for tracking money and ways to make payments, King says. Hunt says there will be more options, not fewer, and banks wi!1 still "offer bread-and-butter checking and saving accounts," just with more modern twists. "All the banking products available in 19C0 are still here today — like checking and savings. As technology evolves, banks aren't taking instruments a'vay. They're just adding more options," he says. The strategy 'is all about meeting clients :where they are," Coyne says. Future of the branch Jul of the self-service k;osks, viztee :a': ey inc14..F.e and Internet barn'/►i :g, ;ni ir.chwry rtiLus on :JS. 0 1:7Di Eventual -4y win trr sate I::t f.z-vie is sr;: :r fan's visa Via'.. pr!d'.tu 2 e SO;arc a' . 2.tCi�E�.^;` LIT c.c.s net' :t:Cs !ad :fe ajXing sr.ys. • • Hunt says newly built locations and those remaining likely will he smaller. "We're estimating they'll be about 3,000 square feet, but some will be as smal: as a kiosk or a hotel room," down fromthe current average of 10,000 square feet, he says. "There won't be a one size -fits -al! branch anynuru," Hunt says. King says the branches will be less focused on s.inlp.e transactions anti more focused on sales, such as opening rew bank accounts and steering customers to nore p-ofitable services and products such as retirement planiing, brokerage accounts and loans Bank branches won't disappear entirely. "As silly as it sounds, people still like to be able to walk into a branch and see the people who are watching over their money,'' Coyne says. More From Ban krate i • -e. — ._. Ergs ..,• Jrn ffirr.p.t,t,n'.A.ted t+• 1114.31141 awe boon Ins Maness a Wilant Pan no.. II ma an L. I N — . ale . r.• .' •.• - A•. Sponsored Stories 1 works How to write a check •►r I•.'. Pictures of big bills - $50O, $1,000, $5,OOO, $10,OOO Routing number on check: How it 4:.,,,7;re Why engaged couples should sign a p-enup c 1.1.'1.! C /1 0 Q susscQBE PRO V\(ATCHLI ST ovsstarn t ft Sr . asccreapactras biases As aisessia 61 FUNDS THAT BEAT THEIR BENCHMARK' nut rir Mt LW) Retail bank branch is doomed, and banks don't know it GOldrnar Sachs report Tuesday. 2 Jun 20151 713 PM r Big banks are rolling out futuristic branches to keep up with the technology cutting -edge, but according tc rtnancral technology experts, it's a major waste of time and money. Within a decade tie retail bank branch model will be dead. "Finance will b: the mcst dcsr_rpted industry in the next 1C years." seid Peter Diamond's. executive chairman and co-founder of Singularity University, at the Exponential =;Hance conference in New York City on Tuesday Mans: cc a..s ank r Z .o o •ve.13..S ettitsa':` 'e' anti: `ba , "Bank branches will most be gone ,, this decade." Diamandis said. Sou OP. O' boto b cirototY0tof a Diebold bank branch of the future Brett Xing, (sunder or mobile banking app Moven. said ;tie banking industry will experience more d.sruption in the next 10 years than in the previous 300 years. "Bank ;eilers %sill be the telegraph operators ot 21st century mien we toot back in 100 years me most -impacted job,-' Kino said. "This oil( hurt , _ taw% ,w 0 es - i 1 tti ,r5 iiiri (2 RWE COLLAR GI ILS.IO?MIRE S 7RoM THE WEB . - M - 1 - r - • • ♦ fl � iof q Pim! At ea a Carom • s , . •• ♦ • s I it O Cb' Ana . .f • t • Sr*'n:7 'It } t::••'`. .. :..a S . -. L ; • • Sr..; - • .4 863 SNARES Scan son d tromped? r,duN, 1• . 1 ••� - •• • ► I f ,J • r • c • bj reboots lkato .�.. . TIP; I. ► 4r' JTy t.i Q The n. k, . ?wore SL , ;t-tr. .rc w .•.1 ah • r•••• en 7 ak • • • •J " !h'► a ni• $,,ct••ra ?%s :ass'`^'wn atout the By 2020 at least 66 percent of the global population rill; be online. according to a conservative estimate from PHD Ventures. That would mean an adaitiona 3 billion global consumers. Diarandis thinks that number will came in even higher —as many as 5 Killion new consumers —backed by Internet -expansion projects like • .'s internet.o►g and Google's Project Loon. "Thai's 3 to 5 billion new customers not accounted for in the global economy today entering it. I don't know why financial services companies don't get it,' Diamandis said. •8rttt King. founder et Hoven Jay Sidhu, chairman and CEO of 7. ustamers Bancorp, which owns the Bankllobfle app, said in the U S alone there are 68 million individuals who are unbanked or underbanked Forty percent of millennials would consider banking without a branch, according to Accenture. Meanwhile, 70 percent of the unbanked in Africa would have to spend their entire life savings to get to a branch. 1 • . f.l.. • • . + . C Banks' biggest mistake is still thinking or communities as geographic narkets, Sidhu said. '! was working today, and there were 20 bank branches in six blocks on Madison Avenue. That's $30 million in rem;," Sidhu said. "Putting screens in branches Why, when we all have screens in our pockets? .' _ :. a • • • .. in Union Square It was built in [2O10) and looks like a bank of the '60s b me," he said, adding, "Bank branches are rrausoleums.'' T•'M^'• !� `z'n �`inter the .w, y♦ three to ¶h? y s t1:1 t‘era Aa •�•. i• still be as many as 75.000 bank branches because "the banks don't g?t if Ban'cs are like Kodak," he said. • • t.• Apt -.f' • ft _ MOST POPULAR �w tiyL . F% ame N wing . A `.'r a ...' ' I '•y :' 3 3 .) ± ' i 3 4 GC,`O ....•�`T a ,,- te. •,s r chcic� . .1 •7f•: . .t.r ii .•vr♦t i.. . e .� a - i 1 fl ... •Ihp se •... a ile �.!:aH SayS i.i•.,3iz e'_ .• .W ..J L! . • .. •. • _ , de • • )- . • • . • • .• •� • - . a • • • S. a • . r a • I'. . Is ..r ..' • • •••• WO - i'. - ,. •.•• e • . a • •� • t 4,0 �•� s a/• t: 3•4 n i i ` ! a s 1 • ewe a r. to i Le • - •... I n,• 0. ' . •- +• • a. i • • . . • • • }'. stampede o` fintech unicorns A [mg reason NI' tilt bold predictions about the divergent fortunes Of ban'irlg apps and branches: There are 8,000 fintech start-ups in the U.S. today. more than the number of savings and loans with charters. There is also mar? venture capital investment in fintech tnan traditional banking industry investment in bank transformation A total of 36 fintech uiicorns now exist globally, by King's count, and another 32 fintech start-ups are on their way to a t nicorn valuation soon. • • 'The biggest banks in the world in 2025 will be technology companies, and banks that grew through branch acqusitions in the '80s and 90s, that grew by physical bank presence, will have a real problem. ' King said. 'They may have to give away the retail business " Yet ne said right row the big -bank thinking is trip opposite: Many banks continue to make tie mistake of wending significant sums or oank branches that look more like Apple stores thinking the consumers wsl return "It's not a design issue. It's not branches rot being pretty enough. It's a behavior problem," King said, aoding. "People Just don't need branches. and this decline will speed up.'' Re added: in 2020 more people will be banking on their mobile phones than have ever banked before, and that's just five years away." r esttor, CHEW. corn MORE FROM CNBC • r•.>>ir•.. •♦P. as_ _ • • • • 1 f - -. • ••'.L•' t "6 ‘1. • • • •• r f� • f • • -- • • •• • • w S. - • • • • • I - r I w • •• •. IS • FROM THE WEB • • . .• • • M• • i • • S. • . ... • ♦ • • .• • •• • 1 - • •_ OW r f •• • .. • • r • 4 • ▪ - e ♦ I • • Gs • • 1•• • • i 5- I. • • - •• ST Tamils • • " • .. � ••1 • ti o• • e . • • ▪ • • • . f.. 1 .. D c 1 .__ � i • • %sings Best for Savings Rates and K 4As. View our comparison chart, _. • se -r r • • r .•. T; ; . lo'.ly Foci ((0)) JLL Services Industries United Stites /News News release CHICAGO Sloth Research Lxations Aropsnits News Atout From Bricks to Clicks: FinTech Driving Bank Branch Transformation 24 Apra, 2017 ILL outlines the key real estate trends defining the Jurure of retail bark, UMu sake, a CHICAGO, April 26.2017 - Consumers are more mobile than ever, and Ihe_ tJanki-g mOustry shohn just how uicxIy sstnovatons Ater consume' 3efeviors. II took decades for s:rrtipte cash -dispensing ATMs to be accepted. but now motile apps and F nTect define the entire future or barking real estate Wile e the recession forced banks to lighten operating costs and Hatt branch growth. noble, banking picnics up Momentum As a oesult, banks are consolidating and optimizing bcal ons ' �. __ ' ;, • e . ' 111:-; re"':tsi:: I I e:'.+=.:'vfe 'Pet IX: _v art lel fe: n4'a• ! s_....• is • apt • ► U S &ir r h ade j,r•Lse I amercing to tine FDIC A; he :erns time, new brandies are salt being bulk to fern market needs, indtsl'ng a robust and evefyi 6 industry 'The branch strategy of relying or shear nurnbv3 lo ruin market share is a thing of the past, and now oanks need to !oars on a custortner-centric rest en!? appraddt,' Sala Gene Coradini, Executive vu F'nssident and Lead of JLL s Retail group 'Mobile apps and FinTech have transformed how we bank, hut branch banks loci nod to compels with these tech advances instead, they should leverage thorn to 'rax,mize real estate coat savings and the customer erpenence moving for/lard. Technology beings a sea of change to retail banking. but the industry ism drovtrrinrq, ifs evolving.° th a massive real estate shift underway, Lt.'s new report lays out the must -know trends for retail banks: • The number of branch locations will continue to shrink, and we won't miss them. Nth tans adapting :o consumer nods, Mire tuul Do a 73 percent redhtztiorr rn bra:iCh locations ®31035.es ow* pity Ore had five yen walla customer access io braichas remains important the necessity of a t rancn network is being 3a/tarter, with advances ;R rrcbile plalforrns and FinTech. and fewer locations could lead to 53 2 biicn In ant ual cost savings r Mobile apps and broader FinTech applications wi'I streamline personal and business banking. Mobile technology allowed Party adders ,v cornplete simple banking transactions without eve' enleting a bench or even using a cphputer. Now, customers expel ro do 'note than eta^sfer funds from their smanpnanes, and rnnoralions will further expand rnobls capabilities Bank branch site will sttrrtk, saving 5dEltoos in rval estate costs annually. Carturni.br beaks hi.a tee: less tt!aird s, 1iea •r to r:t, brsrchss fey (10.ril s.:; 11 rterr3fin.rt•I et 3rchq c by 2 +OG liaise a Net aryl rdtti lt) of iur le,l3ir1.72 swpus solo fit petsitle, t';t•+P _3,1 dt,tot brintkt annually 'evince aearrns Carets :anted .• j, People Contacts Mike Ramon •' 312 221 3356 . ?lot all branches welt be treated Equal. As oinks Lilac branches to meet customer needs and re;iartle de to ratahicss full-scale operations and 'convenience locations for basic lransacuons *If i be peppered in Der real nuts portfolio. 4 Automated branches are coning. Consumers today are more accepting of banking innovations than in years past- Moving toredart, expel to see greater use of remote tellers assisting with bask transactions, •The bitrrodcctiort of automated tellies is pivotal for banks to Jeri( eta: estate costs, tOoviever it sill take time for customers to kM'1 embrace a technology that Introduces a whole new customer service experience,' said Ccvadinr. 'Optimizing market ccverage Is ne;terguick nor easy, but the long-term cost savings tarn tilts snits can De aagrnrttanl as banks also Ornate ant shrink testing locations." For more insights on the oultook far the ratan banking industry in 2017 and beyond. download • A bout JLL JLL(NYSE.. t.L) is a heading pohssyonat services firm that specializes r real estate and investment management. A Fortune 50O Company. ,ILL helps real estate owners, occupiers and investors achieve their business ambitions- In n411. �. 1s V —A '�1-,�-..-. . 1 �� 1t burl.... �4 fix �y ��.. a r: a •I�� -a p 1� a} t:. v . tz::: • zlic ' mere itit. anal .s re-t� to v V�r-V �1w.v.. .. r/ Fri wtt, let 4lUU..V,=tar t '- •1..,, �i- Square feel. or 409 MOOR Square meters, and completed sales acquis*ions and franc. transactions at 8porox:mate+d 3136 boson At year-end 2018, ill nad neatly 300 corporate Picas, operations in aver e0 eountres an. a 3 °bat 'epitome of more than 77,000. As or December 31, 2016. LaSalle investment Management has St3O. I Shur erect estate under asset management JLL. Is the brand name, aid a registered trademart or,iones Lang LaSalle incorporated. For Sunhat information, visit ternariviiCti Intortnadon'or Lean) more about Ras#►srrn & insights View abbiv eat investors Awards esrt tttopsbon tr4ustnit and Logis:,es *at testy Rtioi eea Trans and Cbrceraai Comte raw oesCrth !roust 113 Divers*, and Inc1u so.I COCO Sulltatratrirty Res Vii n "NAPtscs safety The Investor Contact us Colton us s:i ?' in G• a iv P.twb y tme'rnt l',Ortar $4't Sim Z + co "qn 20e? ants Lai .aSitk as Al 2d'r ell S•'.ln crlf Ba nkrate.com.-_� r .�••• • •....: s"t''.s, -1 v'.1 ! : "� - �► ••, 4 ways tech will change your bank branch Si David kv1cNbilin • Bankrate.corn VAnkirn a 4 Ways Tech WM Change Your Bark Branch 354121 Technology will change your bank branch From simplifying payments with person -to -person transfers to eliminating the need for passwords with voice recognition software, technology is revolutionizing how account holders manage their money. The result is Pat bank oranches are looking less cro vaea. While customers can perform many transactions from wherever they a -e, technology will not force every bran& to shut its doors "Bank oranches arenft going away," says Greg McBride CFA, senior financial analyst at Bankrate.corn "The branch of the utLre is just going to look and feel a lot diferent than the branch of the past." As you enter the rew age or c risJmer banking, here are four ways technology will change your banK branch. --a` c its {�y c.;_ a:;c0 , -i' iii ` z :a z c ip ' .. :35S_I SHARE THIS STORY Lta� 5 7 to see what your friends Like. I Your teller may be many miles away • 1. 2 . Sir See • .; - 44 z _at., .-r... S. Account holders are growing increasingly comfortable with making deoosts •Rand transfers remotely, and some banks hope they will enjoy talking to tellers from a distance, too. To reduce staffr'g, McBride says that oanks and credit un ons are beginning to embrace remote video tellers These i • •11 -4_ transactions eisewhe-e," McBride says Still, don't expect all face-to-face tellers to be relocated outside the wal's of a physical bank branch. "The majority of customers still grant those personal interactions, particularly when it comes to bigger decisions ' says ,r s Todd Barnnart, executive vice president of branch banking for PNC Bank "Carsumers stir wait access to someone if they have an issue or a need that falls out of that routine 1 catA or, s category, uch as wealth management advice or small-business banking services," McBride says. GS t As• a 4 Ways Tech Witt Change Your Bank Branch !i354321 You can do your bankinc later representatives car offer assistance via vice() :cnferendng on ATM screens ymmor►— yep wen. _4 za. "Barks cant afford to pay tellers to stana around and be ready to post deposits and process withdrawals if technology is faalitating those Communicating with a teller through a screen may seem strarge to some account holders, but banks are using remote tellers to offer a rem/ benefit liwilli fir longer hours. More account holders expect on -demand access to rroney ... management, and the traditional 9 a m. to 5 p.m, business model of the bank branch is going away. 4 "Some of the busiest times at video -assisted tellers are evenings and weekends,' McBride says "These are times when orancnes weren t open in the past Customers now have more available hours to take care of the°, banking needs." Sore banks are extending hours for remote te'lers to as late as 10 pm. on weekdays and 5 pm on Saturdays and Sundays. Although cal' center tellers are not widespread throughout the industry yet, more banks are beginning to rest the ofFcrng to see how customers react. e54370 53i'A,ng 4 4 Ways Tech WI( Change Your 821k Branch 654Q2i You may feat a bit cramped As fewer account holders ma,Ae trips to physical branches, some members of the banking indust-y are experirnentirg with new branch riode',s that are a fraction of the size of tradition: locatiors. "These express banking centers are a way of still having a physical presence for consumers but with srnalle- real estate merhead costs,' McBride says. ni addition to opening smaller branches, Barnhart says that customers can expect to see more t led•serv,ce banking locations Poo up in supermarkets subway kiosks and other new locations Aws The one -size -fits -all brand model is going away," Barnhart says "For a long time, every bank built the same kind of °ranch ever wne'e Now, customer preferences are evolving due to the ccnvenience and accessibility of new tecnncloc ;es, and branches w1! follow suit. 'Customers don't need a 5,000 -square -foot branch every time t.ney go to the bank," Barnhart says. 634371 ci_ 4 Ways Tech W l' Change Your Bank Brand r.. 83432 i� You may drive farther to reach a branch V 4P Q, Technology is creating new opportunities for n'tore customer ccnvenience, SID nassi1 'f-n►c n != a :D allowing banks to close some Jessetrafficked branches maiRe-- According to data from the Federal Deposit Insurance Corp . the number of branches and bank ofrces in the U S has declined by more than 3,000 since its peak in 2009 More account ono►ders are embracing technology, and that number will conwnue to fall "Reducing branch costs is a necessity because brarch traffic is declining," McBride says Despite the decline, statistics indicate many consumers are stil committed to going to branches. A 2013 survey from the American Bankers association shows that brandies are the second most popular way to conduct banking business behind online banking via laptop cr PC. In the future, there may not be a branch on every corner, but consumers will still be able to conduct their banking business in person. "As a whole, the banking industry will most likely see a decline in ,he number of tranches,' Barnhart says "However, l don't think it's as dire as some of the headlines m gilt say. The bank branch is not dead." a - 1 w `;4„: 1 els* 4 Ways Tech WEl Change Your Sank Branch 35442: See what's next • / 4, ir 447"4°1/41., diftann, ...frapast h atteect •. Location ot artt.'t • J a j( r 'bar Bankrate.com-. ':1 t . As ccrtsurters isw :ode Eva - . more often; they silt f:cx ties€ new threats. 4 Lt: a. mei 1 4_31! Posted:Feb. 24, 2014 Forbes Ronit AroraCanttquQr I write about small business fending ar4 graueh. cancel fisidasidt. Pr hales etrU.bu1N se tag aril t'gO.PR:.f.IJ4. 1?123/ Q SS lrls?M 1.21a lens Branch Banking System Changes Will Continue In 2016 A new survey released by b .",Ar%? o`._u found that nearly 40 percent of Americans have not visited a bank or credit union branch in at least six months. Some 43 percent reported visiting a bank or credit union in the past 3C days (ATMs were not included in these figures) The propensity to have visited a branch ranged from 41% for Millenniats to 48% for those ages 50 to 64. While that tells us that 6 -in -to people still are visiting branches, the need to go into them is declining. Small businesses increasingly are turning to online bill pay, and traffic to small business lending platforms is growing by leaps and bounds. Typically, loan applicaticr.. are completed during evenings and weekends when small business owners have more time to focus or. aspects other than operations. Having the ability to make financial transactions such as paying bills or transferring funds electronically has saved entrepreneurs valuable time. Increasingly, these transactions are being conducted by tablets and smart phones, particularly among younger, tech savvy individuals. An important reason for this evolution in Finance is that online banking is more secure and user-friendly than ever before. With just a few clicks, users can pay their monthly bills or transfer thousands of dollars in funds between accounts while avoiding a trip to the bank. ;.';ob;i, apps such as 3iz2Cteiit's T •. T� allow borrowers to easily access and manage their credit scores on - the -go. Further, the tool offers advice to help improve their financial portfolios and thus increase the odds of securing a Loan. Big banks continue to work diligently to integrate technology on their platforms to streamline the Loan approval process Advanced algorithms enable financial institutions to grant loan requests with a higher rate of success while placing even heavier weight on past credit history Meanwhile, small banks and credit unions that have limited online accessibility — or none at all -- find themselves falling behind in an increasingly competitive marketplace. I BEA II/ARK TtR A TtxctO Cycle and d 'J.000 tSet srriait bu r t'JaCaret'ncC; P 1 A el IC Marketplace lending platforms and the emergence of institutional investors in the industry have drastically changed the small business finance landsape. Fariirr 1h:% c.s� • ._.s'�� r.�-w fi r1.1, 1E :retard (Lie is i1 nii ;mot rump hr.t.i in tiltt_nl..ery andrcd,;O4 number is knit. Wo cv') t',, , : tt'.,t•r brill:eh-4 a sd lea' �,►1:C' ��: ri:��e JU ti tnf down t ht• rs wwt'. I expect other banks are like')) to follow. Ultimately, this will translate to the closings of more bank branches nationwide in large part because of the efficiencies of techno:ogy, but aisc because of high real estate costs in cities and an increased propensity in entrepreneurs utilizing online banking opportunities. While people still are in the habit of visiting bank branches, there is no doubt that the banking system is evolving Just as holiday shoppers flock to the Internet instead of crowded malls for the speed and convenience of consumer transactions, Americans are ernoracing use of tecnnotog,+ for tnelr nnanciat needs. Not everyone has or will give up the experience of visiting a brick -and - mortar stcre or bank branch as the bankrate survey found, however the trend of using technology for financing needs is apt to continue in 2016 and beyond. 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I - - • ip mowI - ••. • •••• ` • • - 11 • y • r' • t • a i t • •• -- 4. / ' abet I ' • r I J Link. i .• i. 4 le iL •i u-6 Lease Rates: • S16CJ-S1$.GO!3FPSG Space Available • quite 1St? - 1,1=:< SF Justin Raybu;m; Principal 720,503.E 105 justinia ouniili avian, t1,••aunq con IN .a.t• L i •i •"31 • w. WNW 14-111. pt. l\\\ Nr ar • ,9 !'t I � elIAi,- .• • Cs • r •�tit 1• 'taw . ' r _, f L • 1 (s) � j) 'i ; fJ •0 � -' 1, • • a. • • • • • • • • Property Highlights On -site banking available • Ample parking • 24/7 building access • Easy access to E-470, Parkei R.Tad and Arapahcle Road • Space on monument signage (roil tincl Cottorwrood Drive • l_ocated in recently renaliateri retail center Flor::(1 Schmidt, Vice ProSicient 770.508.8104 • J .1 1 • "•t • rat ;..asitttrit • • - —'• a► w . •-�-- �.a../ti/-.7- .mi. • • . -net •� a It • 1. 711 1 i �A-14' rib bile: illih " is „- r� p L 4111•-.1 It 1 • IPI ► • •-•'l.1: r�1t 1 •...-. ... ..t: rI♦ ' s ...Y_.e , • t-' -.. • •• N I� ' •- ` . `-• a<.. •tL•y t� �!P •Vwa7� t trt.ij�1 �.�dorL �err rl , • -try .•t itImbst lar • t i4 �` it.•. 1 •-•ate • J s stirs .4 �i .. . - •. , 1: Soo • l .; • :i.r—• t .'a Lamm • ,..C �' � .0 •• •r� IA S • dr.Y'rfr~— • .i •..r ._ • ....eking:: •. ► & fi f ••'I • ' • • 1 ▪ / • • •• � \T /L.' frr„..--' ;Jr • are • tir 2 a est i• ait x a ig * '' f ;"„► y'1,fir+.t t- wit 1 �lr r":•• s en • I I 1 .• • P r I • 1 a- f .3/4. f. ,' 2 • •� r• • • . 1 4, • 1 s . as. •1.••.. • ••I.�...�+► mar sera,. a.astaa ►IM.iI••- 4s. •••• ArrJf 1.�..��•s ea • • f C{} 'i "`l `( -1 ¶,11(f(jj'fjj'I Jmi'iiY.t. • ▪ ; t I l • •' / /r. r•' S7 ar{ J ••• ;• ,: a. 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CO IOFJ2 N P. •t3t"'Db:VI.3►:•o'• • . :' • •.,, ianjA.el ••!! .: %aau•.a. is- I\.'V+� • .'pllq 1 .- t ~ .:; .d.• ;s' • *•-. .1?i 'caw e•?' f• ..- .,.L.• ti. : hi '• •- • .-- .,"t. . l• . 1 R Aritr(t'es _ �n 9gr:e Z^r_ .1k 5'a.e' Sam's 5,3.Na5. iv, Umr So^ ie So, -7 Trsns1( 5 Land 58 AC. 31e7 PAP C2. 3ar-a 43 �MR e09Y-0^-03? &2712017 7900 E '1st Ma Den ea- CO 50230 Co-il al Rai subrna'ta1 Fully Leased 60.16m3 6 Q0O SF Pa.On ei ik Sill Inr2 Bwft.n 2045 Cp$Idr Prartrtif, Bulitling Leasing t. Irtily _ Ta-r 1 Star Pita l Saw' e • `, a S. S ties ^*4 E: -a. 2.e 1.43,xar 2.]3 Fab 231. 1 tas sr C'9 -.I 5,2 ^.^ 1. "., J; ` Ara•➢ 1 74-a'-4 1'd' 1'1' "I; ee ++-4'C- 1.3 Marks: Condrtlons 5.,11..0'1 14 �5171a Ranh 0741 -fir 553.91 7-'".5 aa- •pan -r, Gr-. 3aLri :_ra- ti G1^ a Ce' L. �n £,Q-14^0 2-I S 1- r _ Pint.' 33 F . S'i-O 5:323 0 e Itailab.• RAC O1 a 13 10-3 5' trs4a 0 143! 333'. i3*• I . !, 3•-i71 '23 on 177 A+a er1,i o9 3F 133 on 1Ys'ar C 9J:ra' i' 2+ : s 5.. 31 : a 7174:1 }ao.71 ra,t, 55375=(7;131 Slda] t $ lira'? .ta 4a IZ1i4 as•1 1-27.32 4 .i 'kni's 6i 1, 31.1 7 3 I 3 e �•'a�at5;'ii1.'L.1: C. -e- P+, 1/, 12 •y 51faa'n1:"i(-0 St] 11 51¢g LAW: a* 23_a1SF 12, • P.m Pa -sr s*213 Sits Property contacts P+:::re o -•- 6aab 3 Ghs C3: Tenants Demographics ,O-9 Sr O :140. Consi Conran. 7 Bas of iAL'R.a J 31 233 SF P:; it ci 2atn.3 F1to. ,Cana- ti ail II7.191 I 735 Sr goat er% t ]1J 90 42 • a r,3 wt.* 3e 33 • `i 30.37 .1., " Si' _;3 Sec 5.7 etra'z `-'F_':5x 7 121 72623 Fuffi3 ]1G a..' it 32 ! . t 1.4u;e:";G .-.z I a Building NotaS Caner= c1 j IO at LOAry •7..9-1'31 LAC, a t1 nas .-r:aa :o. - j 1.1 Cr33 met, Ma, a C' i r. Crest ant I4i,p ra .. ,t.OOJI Public Transportation -a- tourer Mla-at:ra7daa:, r-• Di -a 32 2t Lr-( Location co 03270 aaaS,5ata' Centra1Pal oat -144+ Q3 •• CerL-at Pe, Jathal (knew COL•t1 OanH2r S a 1 O07107:0 G3S, Lb+Naturorta'r+.a.3 CJ C'1-• 24epar CC) '74.4 Traffic E aL RO...-41.134 PI F�•e—y 3.51 S iL1..ae E 31;7.. Sr'az. sa St C.15 55 1-.,„ Pr-;tteai SW 5araa1s0 S. S Fate -le, 2, I I? E9] Rt. 1' is • ys, 1 1 *41 2271 0 10., - ^277 2713 0 25 v.' 2 552 2043 0 21 r, 1411 23 5 0.33 r1 117a 231: 04+:01 14,.9..77 Y:,9, SFP•,ea ASsess tent --1 _ 714sT•*?R r 04.3-Y*s S 13. a 272 525; 37!57 La, 522? SC 53: 5% tr •1't 5147320^ 157 �lrS: 527/2017 Guilestrig I:1sd;•23 Sc. _ • • S. 1 ir Om al; •./�S -• -••••---••• • - . • X11 .1a_L • ( --t•' Primary Photo r' rota- a BED-~ 747-- frt r r 07 •w elver • I •Cry SC "'' • r Building Ph otc �i . teat n Ltillif i•'rsaa'� w *T• �, FJ • •. • pie �•, Imo ..:;� All; :: ""-a-- +'�� eait14_•.•li-f6 - 4.4.;•t, ajt.* a•l. I., ./'.' • .. - I11••".......7.4.11.41"••••"; 1. O •. -a• • - • • titi . Z •d r 7 • • •. .. ..- •r7•• we re as" Y.w• as • Rendering Cesar Proeert/'t• • •.4. i.. .. ••• .- -- Building Photo eat • • • • •r ••� • • 0•• • ` . .. -• --- — w•••ww•• _ 1 •• •••• ••. I •ekires. 4 • , M•lww••• e...7at. >••••••. • • a...7:•a• • • - :. -s .•.a _ S `• • �. • • •gift r. • TIC._ • •- •. • . •1 _. - r: -- a Building Photo •s • .- _• • :. • • t A. • —. •.•..•...- .. • a NS! sips r� �e�._:.a.s .• ...rte-•—� .l�r- —� ewe:{ ..r.� • n••dr- 1 tN • rt (p.n. • 11.! • I ♦ t� ,isisvib,pcallese • • • • .- — I•. .. Site Plan — r S27r2Q17 Roar Plan 1 tr �. t t - � r r Central Retail Submar+ret Map r CvStar Prceeriys _ Aerial �s , ',it, if _.., _• .\\TII i-Nt r-/- ' .+ o .tr:1�- `tit Grew A_i4,t ROmartit 7Y♦Mt« C-+. Denver Retail Submarl:et Overview Mao F. • t • II Sae\ .•• G • • • L'. et I' Ir r .' ''L • J �ot_:�. 1;1 u RETAIL ; .�. r--,i f- T-- •• - / IA 1 i •% -,. w- - -p _'% yr• 1 it It 1 • • t 1 • ' • t 1 • ♦ I 1 • a �.`k3 r. .1s i_5 LEASE. •,. • Ir • • Or 1' a_ • 24062040, .• •• roe S-• ,• evs • • •.—----- - �- - --- _- FFICE NEAP, FLATIRON CROSSING 1597 E Coaltori Rd., Superior, CO 80027 •...r•.,•••••.y • sir; • • Let; Suite A 1.779 s- (Si4.00 Per Sc S9.65 Es? HHNNN I Suite 6: 1 557 SF CEASED - 0entistj Suite C: 3,030 S= (515.00 Per S = + $9.55 Est. i'lir • ..• • • • •-- _ r S. • • . S. SALE IBUILD It 161 51.450.000 •_._w •• •..- SALE (`0u00S), •r •.e.lA. • a •.-. Suite A: 1.779 SF S400,275 (5223/SFI S!,fe e, 1,567 SF S353 2aS (5235!SFI Suite C. 3.050 SF 573?.000 ($2.45/SF) r C=1tv 'class. a t - S. r-: ••• '• i • • •.i• I. �. I • • -. trreusiiI ref oast irerr e s• t •M • armpit sr as „a.: ?K= wY ••• . •.. - .. : :.♦ - •• S — - a • 1 eaeit r• ets: 4.61. ;r • ocewititt PRO?FPi DEs(m7 ILH-1 -TEI IAA IC/ F. Ii IVESTLIEI IT OPPORTUNITIES Logi r ti • . sal a MitI= nfle Zama ors • •i rope !It Nib . 1'r• sa.,.l.- -Attractive and modern space for Reta;t or Office use in a busy retail center Building is located laithtn a fully -leased Safeway neighborhood center (Great Clips. Subway, Pizza Hut. John's Cleaners, Flatirons Family Dental & Orthodontics. Doug's Day Diner, Rock Creek Wine- & Spirits. T. C Nails, Delvcclzio's Italian Restaurant) a hr 1 a for ba /ATI.� or.••. -Existing �'f'•.'.. - � flJ�fl � � s 'fir. other Cc7ttlpl�ment3. � use -1 mile from Regional Shtpp:ng Center - Flatiron Crossing -Total building size 6.395 sgeerE feet ! of size 1.33 acres -E):cellent rnuf ti•len3n: investment prop`rty. . P'0tePLI3I SIOO.Oco f lOI and 70% cap rate •. •.a �.• • u _-' .1' i•'E'I EP PHETT ST!? J.•1 .1 - - 1• t . ,•., ' a • ., �i �•♦ • 11• • • i ...fir - e . •- • . •. • • ' .•.'- • • • gie -4 • • far • r . • • : •' ./ '. • I. y • if • • t • r et 1•_../C1St •., Grant; • 1• RE 'AlL si Ski kr �:rr . - r V. r 'k f�•e. otyto shier! Jr* + • • •• ! r L. w r • •. • • • •r S. Tr S fr .• M r FFICE AT POCK CRFFKVIJ LAGE 1097 E Coalcon Rd.. Superior, CO 80027 1 Allenspark Fraser Eldora ►5t. Arapaho Natiatial. Forest r t I 1 ►--11 • •4. t • ••1.1 • . . - L t . •• 3`Z . . • _Georgetown • 141 n ?merry \Ian Ness. • _h: _ t••,! • •.1 •', .. 11• IMINI•111 AS MISS. sirplaMsmas • - 4 • Lyons • • •• ..� ••••••.— - • • $5 f '• Loiginorit z." 4.V 4 • t • • . 1 — . • • ;--o r.. . - : :. .. • 1 BbuldeT. h BIackHawk • anti F . • •_ ti•• • • ,.. ••• J • • a. r - amiliasaaa a'Q r CO . WEss �1at•./� ; .1 .111 :i..'7 it . t- • - • h - - .t • 1, • • •• • 1 l = : {•'lt • • • •• r of/ • SI ♦ •v • • peep_-• - trar .1 I. • • • I epee. Fort Lupton 1 -- i ►�• • • • I L. I • t '.•- ( I ••• • • • •' ,• — • •t I . _ Ill r I t. • ,:_ '•. ••e••`• -�'11�v'1t r -• r • ••..• •' . '1 ••.�' - ••4 . I II . ♦ . ! !- w . • f -_ • t...•• ' `- ' 1 ..5 S. Y ?— W S t l •...... s•b. 1 f 0 . . . . Illt • • • C. • VI.:: • . •• „•• ;' - f • • a ft • • i • • • rc i1•It.r tl� 1 • - l •• •A • ' re • ll �tat►srawrr Ai F �-• �t,r= - • Kitn r•• 'y • raw'.H�Json .eenas.. 12 rY. r -•w r kl:-t♦s=RLY ,• y .'. i s �L 1 •, � : . - ?1• 1./,:b•151 • -b •• 1 1••-� Aurora• ~, 111"/ 014 P.Ii=TT STRI0 -1 fi-sst-:;1;e r a• V • ? ' L1631:34 trzs w:'Li;`•:t •. -.. •-•_ .• .• Ins ' Bennett • — .a:' •L / • 1 • t I i I •_ .�1"` -dala 712015 BOO le• r � r' • • t1' 1.3 `y • :3`• • • • I•l ...Po • S =t� �t 4 • _leer] 0,41-,• ‘ ly •.. .•.. 1 zits. or r l • RETAIL & OFFICE AT ROCK CREEK VILLAGF 1697 E Coalton Rd., superior, CO 80027 rr •- •tt a ••• lea • $ a.. a it f . • r.•• • i I • +_..r sat r • .7 r- • .•. • ••e t I -tiro Suite A 1,779 RSF i i j :it 1-••i •• • . . _rs: Ater • is t4• w•fin • • e• • .awl • i S • •WIa. •• r aissolr 1 0 • I rr •• 1 Ca i • • • • r• • - • - • • • S i• l 4 • a .s wave 1! a • • • • i•• a •• — a% • �It •••e • re a •a. r- WIMP • _ 11-+ , a� e •• • •. •• : • •• ••• WIMP ;80••_. y. s+w. - 1J,• <;:::::: ..• 1 • ••• se a..,...• :ace • • • • •• - •is& I •I �r �.. .• •.... •,. • a' s 4.6.ice•..:• • • •_�.• • • • • seams !• s▪ • s• • a, •. • !life P. 1,551 RSF I ▪ • •• tin •..I_.-,. I •T 9- • •..r •.t Ss I • • • • .--..Op. s ♦y, I ' I. • • ▪ :• r • — M- • . • � . • S . ▪ ... ibe.• �• . �.WI•MP .61.:Sta.MOIS-IS►:a Selle ter• +• *. a.r•rr i•.•.. «••• SS• -.•—•.S . SP.:CE SPACE USE LEASE PATE LEASE TYPE Suite A Stret: Retail 514.00 SF/YR Nt- U•I 5uita 6 - - r • !. ,.4*••a •• • LEASED t a'It 1 C Street Re'ai; S16.00 SF/VP NNNN 'If 1 `.1 S ri • • .4 Zr • I r_ •• • .••, •.. ... • • Sins i5r l 1,779 SF 3,050 SF T Suite C• a elms; leap ass le •• .• . .se .. • t - •r 1 • .t • • f . • SO .ter• --•- alas • • . - - 1 •, • • • • • I • • •. • -• a s•• f a _; •• ti a -• - • IS • , . --• TER'•: t •ea•D! Able 3,050 SF ' legotiable Kv.l a EIlL•1 I! Ev R not .•!:• _ ca. PHETI STRD: ::1 ; :>>• : ' 5 : r •.. _ • ''a • • •• • •r• r • • 1 • - • •f • • • sr, ate* . GC N . - w' • rril swim • a• J' • • • c COmr•:ENTs crirted dolie-t L Irj • • 3 dente -through bays and an ATM bay, and existing vault, offer a wilye opportunity to secure a turnkey location for a bank or credit union in a busy rota l cen •per h a thriving suburb of Denver. Long-term iesse in p s:e for dental practice • , a..: .•. 1 et.,s71. • t• 9.1 . • ,••Z ��rfrih r ' • • - • a 4 • •t • • ♦ •. • • . •. • ♦ • W • • • • • 1 •- V 4 re '1 i •44.r•r i �,i ear�•� • I 1 ,1 • •• i a 1 • • 1 I • dew- • �•-- se MEM • pe RH IA(L & OFFICE AT ROCK CIRrFK `VILLAGE a -• ,r 1• • • • a • .`•. . - • • . , , ♦ •• • w • 144- y • • - • •• f._ r ..... _ rev -v- pP••: . T • ..r U • • A_ n •.� •. `• ' . 111"fJ t ti • • • • tj ! , { 1 •J+/ 1♦�• . - nyrtt i • a• Vff?bo• . •1 L 'a 1 • • ,rr 1414►! p ' f .• i `O'•_• • $ • Site . A 1414 ' 3�► • �• 1414. • it "a . .y. •• •. / 1414. • • — ee 1 '4 •, s 1697 E Coalton Pd., Superior, CO 80327 --- ---. ► • •. fl . � . •.. • • 7t T t. • � . . _� . : : • - 1 • • '• L /.'t '1 • l • • l 7iess Ir • t-.i• .1 a • • alp '• •A .• • r• • -hot •s -••Q • • i ' • •' ./r —t• I • • •• • •. ' • -r • • .�•t••• i1• ••L •. ..wl• •- � • ' .r - • 7f • x tr fl! • •- •,• • .. ,• s — - .. •. .- '• • •� •. ~ mil•• Ji. • %- .y _1414 - - . tvis • •♦ F r . 4. . • •. •�••f • h. • • 1414-•r�.1/. • tees.... -.e.•. f • ♦ „i'sgb, •� ♦•, at 1 a r fit. ,•_ 1414 • • • - - I •i•1. . ,.t-. ��- `� 9�•.,� -r •n. • • •••. - g. 4 • -� •a • •• • } t a. - •• •-cfhe • .. it • 1. • 14 • .1 1 7:ill; :-. ;N.,' 4 •I• e. '- 1414 • •'• • . -• •Y. -I. -••. 144 ♦ 14 .♦ • . .- • I.• 1414• ♦ : . •- _ • • r al- • .• • • ti . • i p • • '. 1411_ • I. r . • • •• • ♦ . - • --!.•s• • • .1 . - • • . • • • • • • •• . • .. I .. • • r w ;�• 1 rte—. • :..•t • 4 %WI r. . , a • .1' e - 1: • f Z a. a -+ • F.i' 1J_RLl 1•'EYE4I • •• .• .•. — . , . • 1, " ♦ . • • • f, . •1 • : ,• a S • ••1• -vim-. ••..•••-••aea• • •,51 .1'• - • PH1 I STkO • • .. • S. •,• . r ..J. 1. .5 7 •1 •I• • • • _• h...•!.. ta• -• .••• a ea • I' 1414 • .- 1 t .• ..• ,I 1 ti •M T V t. M 1 r r t •I a. • • A 1 4 .••.••••.a •.J a• • It. • 4. . -... .. .J s' a. - • ,' ♦ ,. • • • ter 1414 • 1414 .� h 14 • • • J •1• ` 1414 411. - r • • / '• 1414 l• • , • • • 1. . -• Y. • r • e_ • 7 • • e, i Ii. • �- - . 14/14 '.�.• ..c.� .. . 1 •ja.T .14 . • 4• •�. r 14 .E .••• • i L. • see f j 1414 1 ,ore. I • :1 M • 1• I 1 l 4 r a REIAIL &OFHCL Al ROCK CREEK VILLAGE 159. E Coalton Rd, Superior, Co 80027 i_.., y.. —. ,,, .4 r -Y,�;r ! .. !i it • r f . 1 k ••stris "ref. e .•.T%f:: 4 if 1 a: ietr,.4).J, k' 1.1 .. a. . 8ouider3fountarri;Park . 1 . rte, J}•/) •�i.• 1, ` : • • . F.A *It, :1--e%. r(��.I•ise_ i • am �tirep • aS/ T .a• f.L a• • • ray i �. .S rr' / ',.• • { f P't't i IS t r { • :11.P r 1 1 .' `i:. k e t •*• t ., • {y✓ t ' c�.�i r /. 'L •I • I a ..1 ' • •�.• ! . • r h r se g re • • r.✓� •• r _�sySS X40,0..•t . :. •-. ,;. r.• may. 172.1 it' rr, • • 1, - ► * el. ! a •,, { ri f 'WI 11 • raj 1' ales ti a .. • • *. • • .:. •. �. 1' . • •r • M. •s 1 1 .••_ r a_.-• ! • :•.�C"J 41L.ML 1:" ••.L•. _ — . a • • t :: POPULATION s TOTlL FOttJLJTIO:! P•i=0WA I AGE 4 =O$i 1 AGE (MALE) I r D l 4' ! AGE (FEMALE] I r • 1 r • • w aar • " 1• Fayette , -. Louisville • I Colorado -flats Op&Space w • • 4 t a . A • 1S • �• . *sea 1 MILE ter 3 MILES 1 • 41 i • • I a 1 • • f I MI __a. Nortliglenzi Eli Thornton Federal 9.1 Hei hte tilap dela *2015 Googlei 5 MILES HOUSEHOLDS & INCOME TOTt L hO'JEEH0105 `Or FERSOtiS PEP HH 4%."CPAG c HH 1••1C0'.:E .2•'1EP4Gc HOUSE k --LUE ` i ••.• 11 i:fl C.O.:� i C. tlAr�a�t, r. • - 1 .•••. • t. it • c t. I r16. las •t • • I. • �.•:'h • ••yr• • . • 1; • _ 34' AS : AO 'a le 140 35.0 35 35.0 1 t•1tLE 1� 31 it: 2,422 35.3 35.5 35.6 3 MILES Et.313 33.E 36.4 37.0 S t•1 ILES Kt?•: s: _ML\ l eo CR ssc :tr. ' :•, . -r ••1:' i .•• . . •,•• 0,,: •I•(. _. 1 - • .♦ •• •: 9,5% 2.5 3109.S93 = ?.563 flzs!1T S11;3;4 i.e..r,s=ice . .'. 54; • • .� w 32,051; 2.5 593 WI 6 • . ar 40, fel; � •r • T eade see t •r • .• • f. „• •••••• - • • • . . • • • . ,• •• ` • . I 0 14 .r • '. r• • .. • •• • 4 . •t •. • • • - • 7275 S Havana St Engt*.,egd. Cd3.i112 Sov':18iS: Rtt Svbras. ; Fury Lined B.Ikldir g 2.879 SF P,2ai1 fIa'14 Stalling euilt►n 1934 CoSiar Prrxr_-rtyf eui!thuig 3 9'., get 13 s:+i 2 3 73 Sr 1 2.477 cr hero Minfirt 14 3 I. I. t- r - .C.-.. 22 tilt 3v!a:s S9stes .s tb4 P3:o :t ;.t•1�1� : ; SF 143 en Gf4-�es i.♦ IQl on Navin) 3; ri 1315.5F 12•x3 ► ys Sires r•sisl l::4•, Land Ca•Cerr. tent th Sznal Transit OS, 1,743 Sive Market Conditions U;s art ; 5 t.--r•ta: j. S .• 2.'3.ytI C.s:t:t Leasing Atclis1:Y 3:'cts S=,1.1.4 S Or rest :41! % 741 a t+:.•, FAR :lnto3 ?l: -+I C i-1 AC 0S..4 AV's: 2073.2:..1.1113)2 : S' 3d 141 SF Tartarus 3s Ma .:t4 : uheon 5=3; .:,: 2.s:*. SF AinenilieS �.. Gist Tarr Location _ 3vt:-tmt S-t&^s'ia: C 4 thou-rt La s3A .0112 5; ;titan ftet: . r Sesureist: Rs: Ct'vw C !govt•-•:xni R1*t,-:+.: Co Gt-it• :• �-.tiJrC 4-ra M 12 t CLSt±. rr t =t.. S= 5.`-•s•t I 24 S:a: &'s:'4*! C't"±7 �* 1 : l Lr• , EOJii,: 3; ♦..—.-1 Jr !'la'.. S 4' 4•4.0 !X•l a tieal:. t; ' , • 401 5*' -1L.•.-••••1 t:'., ?.Z4a8 Sr i.s o 3► Properly Cantatas a _ Pr"::4. J. •: dt t[ nit Ftdnie,. i,r S 13 3}•`t t et. 391 s.6 sill, $1493 J2 P.334 112 -.1 r«. Sr: c o,:o - 3' i=3 527; Demo grap hlcs F'c tit',':l i-sai fit ..a,:1: 4TH • - i Ct. 0.4 Ear-r*ts F:1 is• "$ G•-,- •• -i_ ?-i ltn m tin - : • t'. ," 0437 23.i:C3 3e 43 33.T� � i9.t2 A s' V _- S- 3►"a..-:s: tr .smt:i Or h 3 Cane- S. . i•-•s i. EQ.::nkit p. S wen St :. ►- tj ntss r I S r'` •trails Or t : Vs r ' v . . I t♦•3! 7.2C? ICI 33 45 9 18? 2?5 214.5 :912 Si13 •'313 tt3:la'- Teel:4'tut:.!:::0C'J �►ss.e3gni nt al, Ast.;;..a.r; 'w. rn g-, Ler 7:°4:S/e., 53:45;^.0 t2 Ott: S27.sii Imam 3; A tt{wy u: -"a;14 . I111tfibrcic`e$v2.Cc.; 'l 511 %a -, • n..'1in _ r..,. spis • ge-13 5271201/ BurIJ:n Itn.v je; •s' �3k • • vier- '1 . • !S 114r - some • • _iced ISM 47 ":odira.1.,.._� `_.- -, Pnmary Photo • •.wr•ego .. Sarbvs fi 144 •i1 Stni v • . Sates 1/ r t > . am.. ..•••. year -. . ..aor� i t yy +•.• rer • are an -.salaam.. Southeast Retal Submarkel Map • 7• 4 ) I Cow Promhi • L •".-. • ., •r. • : I awe .11 se. Nee BL'iiding Photo • _..... . ri . itT�c 1 l• / ti ? M -' r—. f - $ a.�.• • •• • • • .� • ) IS wsi f tea.. -•ti• 11 _ •5 ti •-a. 1 r• S rifle., r !• ... � �y Ig -� f .•17)11::::::5#1,e—I •r/• `r 1 ,. :: Y\rSi ask , I i../ • ...19 91.--.4.4%1=1":1?"43'11-.._ : so a eau Robin ktiftrliall 0.ve no of N - net •.............. 2.. • — nip 4eg- V Denver Retail Submarket Ov,nfty Map • 111t:ficr► wir1.'? tan teitr r."sn Pr.-1•".,rt, ,n a ,;i n .. I i"flil CIPSTO\F INCOME APPROACH SUMMARY DIRECT CAPITALIZATION METHOD "AS STABILIZED" & "AS IS" POTENTIAL. GROSS INCOME Tenants MARKET RENT — 1ST LEVEL (NRA) MARKET RENT — BASEMENT (USEABLE SF) GROSS POTENTIAL BASE INCOME Building SF 6,757 SF 5,335 SF 12,092 SF TENANT REIMBURSEMENTS GROSS POTENTIAL RENT (INCL REIMBURSEMENTS) VACANCY ALLOWANCE EFFECTIVE GROSS INCOME OPERATING EXPENSES Fixed - Real Estate Taxes Insurance Other Variable - Utilities Cleaning I Snow Removal Site I Cannon Areas Maintenance 1Secur4ylTrash Management Fee /Administrative Non -Reimbursable - Tenant Finish Replacement Reserves Leasing Commissions TOTAL EXPENSES NET OPERATING INCOME $135,514 /Year Capitalized INDICATED VALUE RENTABLE AREA (SF) 12,092 GROSS BUILDING AREA(SF 14,226 Rent/SF Total Rent $15.50 /SF S10 85 1SF $13.45 1SF S22,586 IMo $20,328 /Mo $104,734 557,685 $162,619 $108,419 S271,03B 10% (327,1041 $ %ol EGI SiSF ($57,456) -23 551. (34.04) (53 0M) -1 24°, ($0.21) 50 0 00°° SO 00 (317,763) -719% (31.25) (55,400) 2 21', ($0.38) (315,000) -615% (51.05) (39 767) .4.00% (50 69) SO 0 00', S0 00 SO 0 00°S S0 00 50 0 00% S0 00 (S108,419) 44 45% ($7 62) $11.21 /SF 5243,934 $135,514 7 80% = 31,737,364 5143 58 0 $1,737,364 "AS STABILIZED" - EXLUDING ANY DEFERRED MAINTENANCE 51 , , LOST RENT DURING LEASE UP (12 MONTH) - LESS VACANCY FACTOR OF 10% (574,499) TENANT FINISH RESERVE (55 OO1SF) ($60,460) LOST EXPENSE REIMBURSEMENTS DURING LEASE UP (12 MONTHS) (70% OF OPERATING COSTS) ($37,947) TOTAL LOST REVENUES 3172906) COST OF CAPITAL (10%) (517,291) TOTAL COST TO RE -TENANT BUILDING (S150,196) "AS IS - EXLUDING ANY DEFERRED MAINTENANCE $1,547,168 Rounded To $1,550,000 PSF $108.96 APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 30th through August 3uat 1150 O Street. To appeal the Assessor's decision, complete the Petition to the County Board of Equalization shown below, and mail, file online, or deliver a copy of both sides of this form to: Weld County Board of Equalization 1150 O Street, P.O. Box 758 Greeley, CO 80831 Telephone: (970) 3564000 ext, 4225 Online: www.co.weld.co.us/apps1/cboe/ 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 — 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 10, § 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 1313 Sherman Street, Room 315 Denver, CO 80203 (303) 866-5880 www.dola. colorado.yovfbaa 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, § 39-4420(3), C.R.S. • District Court Contact the District Court in the County where the property is located. See your local telephone book for the address and telephone number. PETITION TO COUNTY BOARD OF EQUALIZATION What is your estimate of the property's value as of June 30, 2016? (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.) $ 1394 coo 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.) I/ C0th6 undersign = • j - or ag - nt' of the property identified above, affirm that the statements contained herein m,t' - • : re true and complete. h &o+ iSi Yaldis Telephone Number i Signature ATTESTATION d"rk-(? sher 1. � fist Lair, Email Address ' Attach letter of authorization signed by property owner. Date 15.OPT-AR PR 207 ,06113 R7455298 NOTICE OF DETERMINATION Christopher M. Woodruff Weld County Assessor 1400 N 171" Ave Greeley, CC 80631 Date of Notice: 6/2712018 Telephone: (970) 400-3650 Fax: (970) 304-6433 Office Hours: 8.00AM - 5.00PM ACCOUNT NO. TAX YEAR TAX AREA LEGAL DESCRIPTION/ PHYSICAL LOCATION R7455298 2018 0663 EVS LOGS TR 8 THE LANDINGS 23RD AVE EVANS . CO I w w 8 i W I] BANK MIDWEST NA 1111 MArN ST STE 28003635 KANSAS CITY. MO 64105-2154 PROPERTY CLASSIFICATION ASSESSOR'S VALUATION ACTUAL VALUE REVIEW PRIOR TO ACTUAL VALUE REVIEW AFTER COMMERCIAL 1,085,000 1 065 300 L I TOTAL 1,085,000 1 1,785,000 The Assessor has carefully studied all avai►able information, giving particular attention to tie specifics included on your protest. The Assessor's determination of vague after review is based on the following. Cl1405 - The law requires that data from Jan 2015 to June 2046 be used to establish current values. We have considered all three approaches to value and we have denied your appeal based upon this data 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 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 :r 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 authorites. Please refer to the reverse side of this notice for additional information. Agent ( f Applicable). [2 [t nen7-7 JUL 11 5 2flfl 15 -OPT -AR PR 207-08113 R7455298 M@THRE AUG 1 02018 (By August 2, 2018 Agent (if applicable) STERLING PROPERTY TAX SPECIALISTS INC 950 S CHERRY ST SUITE 320 DENVER, CO 80246 Petitioner Zr+� •31N e riS 23rd -'4.01 CLERK TO THE BOARD PHONE (970) 400-4226 FAX (970) 336-7233 WEBSITE: www.co.weld.co.us 1150 0 STREET P.O. BOX 758 GREELEY CO 80632 BANK MIDWEST NA 1111 MAIN ST STE 2800 KANSAS CITY, MO 64105-2154 RE THE BOARD OF EQUALIZATION 2018. WELD COUNTY, COLORADO NOTICE OF DECISION Docket #: 2018-2250 Appeal #: 2008217941 Hearing Date: 8/2/2018 8.30 AM Dear Petitioner. On the day indicated above, the Board of County Commissioners of Weld County Colorado convened and acting as the Board of Equalization, pursuant to C.R.S. Section 39-8-101 et seq , considered petition for appeal of the Weld County Assessor's valuation of your property described above, for the year 2018. Account # Decision The Assessment and valuation is set as follows. Actual Value as Actual Value as Set by Determined by Assessor Board R7455298 Deny - Denied in Full $1.085.000 $1,085.000 A denial of a petition, in whole or in part, by the Board of Equalization must be appealed within thirty f301 days of the date the denial is mailed to you. You must select only one of the following three (3) options for appeal: 1. Appeal to Board of Assessment Appeals: You have the right to appeal the County Board of Equalization's decision to the Colorado Board of Assessment Appeals. A hearing before that Board will be the last time you may present testimony or exhibits or other evidence, or call witnesses in support of your valuation. If the decision of the Board of Assessment Appeals is further appealed to the Court of Appeals pursuant to C.R.S. Section 39-8-108(2), only the record of proceedings from your hearing before the Board of Assessment Appeals and your legal brief are filed with the appellate court. All appeals to the Board of Assessment Appeals filed after August 10, 2016, MUST comply with the following provisions of C.R.S. Section 39-8-107(5): (5)(a)(I) On and after August 10, 2011, in addition to any other requirements under law. any petitioner appealing either a valuation of rent -producing commercial real property to the board of assessment appeals pursuant to section 39-8-108(1) or a denial of an abatement of taxes pursuant to section 39-10-114 shall provide to the county board of equalization or to the board of county commissioners of the county in the case of an abatement, and not to the board of assessment appeals, the following information, if applicable (A) Actual annual rental income for two full years including the base year for the relevant property tax year, (B) Tenant reimbursements for two full years including the base year for the relevant property tax year, (C) Itemized expenses for two full years including the base year for the relevant property tax year, and (D) 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 for two full years including the base year for the relevant property tax year (II) The petitioner shall provide the information required by subparagraph (I) of this paragraph (a) within ninety days after the appeal has been filed with the board of assessment appeals (b)(I) The assessor, the county board of equalization, or the board of county commissioners of the county, as applicable, shall, upon request made by the petitioner, provide to a petitioner who has filed an appeal with the board of assessment appeals not more than ninety days after receipt of the petitioner's request, the following information (A) All of the underlying data used by the county in calculating the value of the subject property that is being appealed, including the capitalization rate for such property, and (B) The names of any commercially available and copyrighted publications used in calculating the value of the subject property (II) The party providing the information to the petitioner pursuant to subparagraph (I) of this paragraph (b) shall redact all confidential information contained therein (c) If a petitioner fails to provide the information required by subparagraph (I) of paragraph (a) of this subsection (5) by the deadline specified in subparagraph (II) of said paragraph (a), the county may move the board of assessment appeals to compel disclosure and to issue appropriate sanctions for noncompliance with such order The motion may be made directly by the county attorney and shall be accompanied by a certification that the county assessor or the county board of equalization has in good faith conferred or attempted to confer with such petitioner in an effort to obtain the information without action by the board of assessment appeals If an order compelling disclosure is issued under this paragraph (c) and the petitioner fails to comply with such order, the board of assessment appeals may make such orders in regard to the noncompliance as are just and reasonable under the circumstances, including an order dismissing the action or the entry of a judgment by default against the petitioner Interest due the taxpayer shall cease to accrue as of the date the order compelling disclosure is issued, and the accrual of interest shall resume as of the date the contested information has been provided by the taxpayer Appeals to the Board of Assessment Appeals must be made on forms furnished by that Board, and must be mailed or delivered within thirty (30) clays of the date the denial by the Board of Equalization is mailed to you The address and telephone number of the Board of Assessment Appeals are Board of Assessment Appeals 1313 Sherman Street, Room 315 Denver, Colorado 80203 Telephone Number 303-864-7710 Email baa@state co us Fees for Appeal to the Board of Assessment Appeals A taxpayer representing himself is not charged for the first two (2) appeals to the Board of Assessment Appeals A taxpayer represented by an attorney or agent must pay a fee of $101 25 per appeal OR 2 Anneal to District Court' You have the nght to appeal the decision of the Board of Equalization to the District Court of the /county wherein your property is located in this case that is Weld County District Court A hearing before The District Court will be the last time you may present testimony or exhibits or other evidence, or call witnesses in support of your valuation If the decision of the District Court is further appealed to the Court of Appeals pursuant to C R S Section 39-8-108(1), the rules of Colorado appellate review and C R S Section 24-4-106(9), govern the process OR 3. Binding Arbitration: You have the right to submit your case to binding arbitration, If you choose this option, the arbitrator's decision is final and you have no further right to appeal your current valuation. C.R.S. Section 39-8-108.5 governs this process. The arbitration process involves the following: a. Select an Arbitrator: You must notify the Board of Equalization that you will pursue arbitration. You and the Board of Equalization will 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 (i.e., Weld) will select the arbitrator b. Arbitration Hearing Procedure: Arbitration hearings are held within sixty (60) days from the date the arbitrator is selected, and are set by the arbitrator Both you and the Board of Equalization are entitled to participate in the hearing. The hearing is informal. The arbitrator has the authority to issue subpoenas for witnesses, books, records documents and other evidence pertaining to the value of the property. The arbitrator also has the authority to administer oaths, and determine all questions of law and fact presented to him. The arbitration hearing may be confidential and closed to the public if you and the Board of Equalization agree. The arbitrator's decision must be delivered personally or by registered mail within ten (10) days of the arbitration hearing. c. Fees and Expenses: The arbitrator's fees and expenses are agreed upon by you and the Board of Equalization In the case of residential real property, the fess may not exceed $150.00 per case For cases other than residential real property, the arbitrator's total fees and expenses are agreed to by you and Board of Equalization, but are paid by the parties as ordered by the arbitrator If you have questions concerning the above information, please call me at (970) 400-4226. Very truly yours, Esther E . Gesick, Clerk to the Board Weld County Board of County Commissioners and Board of Equalization Cc: Christopher Woodruff, Weld County Assessor Hello