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Home My WebLink About20152568.tiff 1861, CLERK TO THE BOARD PHONE (970) 336-7215, EXT 4226 FAX (970) 352-0242 WEBSITE: www.co.weld.co.us 1150 O STREET V N T Y P.O. BOX 758 G GREELEY CO 80632 September 4, 2015 VESTAS BLADES AMERICA INC 11140 EASTMAN PARK DR WINDSOR, CO 80550-3397 RE: THE BOARD OF EQUALIZATION 2015, WELD COUNTY COLORADO APPROVAL OF STIPULATION BETWEEN PETITIONER AND ASSESSOR ACCOUNT NO.: R6778001 Dear Petitioner: On August 03, 2015, 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 your request to approve and adopt a valuation of your property arrived at by a Stipulation between you and the Weld County Assessor, for the year 2015. The Board of Equalization found that the evidence presented at the hearing supported the stipulated value placed upon the above-described property as set forth below. Such evidence indicated the value was reasonable, equitable, and derived according to the methodologies, percentages, figures and formulas dictated by law. ACTUAL VALUE AS STIPULATED VALUE DETERMINED BY ASSESSOR APPROVED BY BOARD $47,641,019.00 $ 38,420,177.00 The above `Stipulated Value' is the value which will be used in the calculation of your property taxes for 2015. This value is not appealable. If you have questions concerning the above information, please call me at (970) 336-7215, Ext. 4226. Very truly yours, itiLi k2 Esther E. Gesick, Clerk to the Board Weld County Board of County Commissioners Cc: Christopher Woodruff, Weld County Assessor RYAN LLC 16220 N SCOTTSDALE ROAD ST 650 SCOTTSDALE, AZ 85254 2015-2568 AS0091 Rafaela Martinez From: Courtney Anaya Sent: Friday, September 04, 2015 2:30 PM To: Rafaela Martinez Subject: RE: Questions on Accounts -Stipulated Hi Rafaela, See my remarks below...let me know if you have any other questions or need anything else. I'm leaving at 3:00 today, but If you any need help with the letters this afternoon,Jon Troyer can help you with that. His extension is 3665. Thanks and have a great weekend! Courtney Anaya Analyst Weld County Assessor's Office (970) 353-3845 ext. 3670 canaya@weldgov.com ,t1 Ll. r I Confidentiality Notice:This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged,confidential or otherwise protected from disclosure.If you have received this communication in error,please immediately notify sender by return e-mail and destroy the communication.Any disclosure,copying,distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. From: Rafaela Martinez Sent: Friday, September 04, 2015 1:08 PM To: Courtney Anaya Cc: Esther Gesick Subject: Questions on Accounts - Stipulated Hi Courtney. Per our conversation on the phone, these are accounts that I need confirmation on BOTI I values. Thanks! R6781136—This one was denied at the Assessor level, so the value prior to CBOE was $1,675,285. The Stipulated value at the CBOE level was $1,476,100 R4091086 —This one was denied at the Assessor level, so the value prior to CBOE was $187,802. The Stipulated value at the CBOE level was $150,000. R5250708 —This one was denied at the Assessor level, so the value prior to CBOE was $40,628,068. The Stipulated value at the CBOE level was $32,764,571 R6778002 —This one was denied at the Assessor level, so the value prior to CBOE was $29,739,806. The Stipulated value at the CBOE level was $23,406,329 *R6778001 —This one was denied at the Assessor level, so the value prior to CBOE was $47,641,019. The Stipulated value at the CBOE level was $38.420,177 i R5250708 —This one is a repeat of three above. R4182106 —This one was Adjusted at the Assessor level, so the value prior to CBOE was $496,500 (however, the Stipulation shows a prior value of$496,000). The Stipulated value at the CBOE level was $478,000 R6783928 - This one was Denied at the Assessor level, so the value prior to CBOE was $293,490. The Stipulated value at the CBOE level was $268,490 P1552499— This one was Denied at the Assessor level, so the value prior to CBOE was $375,453. The Stipulated value at the CBOE level was $240,809 These accounts all have different amounts on the spreadsheet compared to their Stipulation Form that was signed. Thanks again! Rafael('a. Martinez Deputy Clerk to the Board 1150 O Street'P.O. Box 758'Greeley, CO 80632 tel: (970)336-7215 X5226 61, ► Confidentiality Notice:This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged,confidential or otherwise protected from disclosure.If you have received this communication in error,please immediately notify sender by return e-mail and destroy the communication.Any disclosure,copying,distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. 2 1861 CLERK TO THE BOARD PHONE (970) 336-7215, EXT 4226 FAX (970) 352-0242 WEBSITE: www.co.weld.co.us 1150 O STREET P.O. BOX 758 GREELEY CO 80632 September 4, 2015 VESTAS BLADES AMERICA INC 11140 EASTMAN PARK DR WINDSOR, CO 80550-3397 RE: THE BOARD OF EQUALIZATION 2015, WELD COUNTY COLORADO APPROVAL OF STIPULATION BETWEEN PETITIONER AND ASSESSOR ACCOUNT NO.: R6778002 Dear Petitioner: On August 03, 2015, 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 your request to approve and adopt a valuation of your property arrived at by a Stipulation between you and the Weld County Assessor, for the year 2015. The Board of Equalization found that the evidence presented at the hearing supported the stipulated value placed upon the above-described property as set forth below. Such evidence indicated the value was reasonable, equitable, and derived according to the methodologies, percentages, figures and formulas dictated by law. ACTUAL VALUE AS STIPULATED VALUE DETERMINED BY ASSESSOR APPROVED BY BOARD $29,739,806.00 $ 23,406,329.00 The above `Stipulated Value' is the value which will be used in the calculation of your property taxes for 2015. This value is not appealable. If you have questions concerning the above information, please call me at (970) 336-7215, Ext. 4226. Very truly yours, dietwV . :€/k, Esther E. Gesick, Clerk to the Board Weld County Board of County Commissioners Cc: Christopher Woodruff, Weld County Assessor RYAN LLC 16220 N SCOTTSDALE ROAD ST 650 SCOTTSDALE, AZ 85254 2015-2568 AS0091 Rafaela Martinez From: Courtney Anaya Sent: Friday, September 04, 2015 2:30 PM To: Rafaela Martinez Subject: RE: Questions on Accounts- Stipulated Hi Rafaela, See my remarks below...let me know if you have any other questions or need anything else. I'm leaving at 3:00 today, but If you any need help with the letters this afternoon,Jon Troyer can help you with that. His extension is 3665. Thanks and have a great weekend! Courtney Anaya Analyst Weld County Assessor's Office (970) 353-3845 ext. 3670 canaya@weldgov.com t4xNi I. 1 r 'a'- ti • L r Confidentiality Notice:This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged,confidential or otherwise protected from disclosure.If you have received this communication in error,please immediately notify sender by return e-mail and destroy the communication.Any disclosure,copying,distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. From: Rafaela Martinez Sent: Friday, September 04, 2015 1:08 PM To: Courtney Anaya Cc: Esther Gesick Subject: Questions on Accounts - Stipulated Hi Courtney. Per our conversation on the phone, these are accounts that I need confirmation on BOTH values. Thanks! R6781136 1 36 —This one was denied at the Assessor level, so the value prior to CBOE was $1,675,285. The Stipulated value at the CBOE level was $1,476,100 R4091086 —This one was denied at the Assessor level, so the value prior to CBOE was $187,802. The Stipulated value at the CBOE level was $150,000. R5250708 —This one was denied at the Assessor level, so the value prior to CBOE was $40,628,068. The Stipulated value at the CBOE level was $32,764,571 54 R6778002 —This one was denied at the Assessor level, so the value prior to CBOE was $29,739,806. The , Stipulated value at the CBOE level was $23,406,329 R6778001 —This one was denied at the Assessor level, so the value prior to CBOE was $47,641,019. The Stipulated value at the CBOE level was $38,420,177 t R5250708 —This one is a repeat of three above. 84182106 —This one was Adjusted at the Assessor level, so the value prior to CBOE was $496,500 (however, the Stipulation shows a prior value of$496,000). The Stipulated value at the CBOE level was $478,000 R6783928 - This one was Denied at the Assessor level, so the value prior to CBOE was $293,490. The Stipulated value at the CBOE level was $268,490 P1552499 —This one was Denied at the Assessor level, so the value prior to CBOE was $375,453. The Stipulated value at the CBOE level was $240.809 These accounts all have different amounts on the spreadsheet compared to their Stipulation Form that was signed. Thanks again! Rafaela.1. Martinez Deputy Clerk to the Board 1150 O Street/P.O. Box 758'Greeley, CO 80632 tel: (970)336-7215 X5226 61. it Confidentiality Notice:This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged,confidential or otherwise protected from disclosure.If you have received this communication in error,please immediately notify sender by return e-mail and destroy the communication.Any disclosure,copying,distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. 2 1861 1 CLERK TO THE BOARD PHONE (970) 336-7215, EXT 4226 FAX (970) 352-0242 WEBSITE: www.co.weld.co.us 1150 O STREET V_LGOUNTY P.O. BOX 758 GREELEY CO 80632 September 4, 2015 VESTAS BLADES AMERICA INC 11140 EASTMAN PARK DR WINDSOR, CO 80550-3397 RE: THE BOARD OF EQUALIZATION 2015, WELD COUNTY COLORADO APPROVAL OF STIPULATION BETWEEN PETITIONER AND ASSESSOR ACCOUNT NO.: R5250708 Dear Petitioner: On August 03, 2015, 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 your request to approve and adopt a valuation of your property arrived at by a Stipulation between you and the Weld County Assessor, for the year 2015. The Board of Equalization found that the evidence presented at the hearing supported the stipulated value placed upon the above-described property as set forth below. Such evidence indicated the value was reasonable, equitable, and derived according to the methodologies, percentages, figures and formulas dictated by law. ACTUAL VALUE AS STIPULATED VALUE DETERMINED BY ASSESSOR APPROVED BY BOARD $40,628,068.00 $ 32,764,571.00 The above 'Stipulated Value' is the value which will be used in the calculation of your property taxes for 2015. This value is not appealable. If you have questions concerning the above information, please call me at (970) 336-7215, Ext. 4226. Very truly yours,diehAi Esther E. Gesick, Clerk to the Board Weld County Board of County Commissioners Cc: Christopher Woodruff, Weld County Assessor RYAN LLC 16220 N SCOTTSDALE ROAD ST 650 SCOTTSDALE, AZ 85254 2015-2568 AS0091 Rafaela Martinez From: Courtney Anaya Sent: Friday, September 04, 2015 2:30 PM To: Rafaela Martinez Subject: RE: Questions on Accounts-Stipulated Hi Rafaela, See my remarks below...let me know if you have any other questions or need anything else. I'm leaving at 3:00 today, but If you any need help with the letters this afternoon,Jon Troyer can help you with that. His extension is 3665. Thanks and have a great weekend! Courtney Anaya Analyst Weld County Assessor's Office (970) 353-3845 ext. 3670 canaya@weldgov.com N4, p Confidentiality Notice:This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged,confidential or otherwise protected from disclosure.If you have received this communication in error,please immediately notify sender by return e-mail and destroy the communication.Any disclosure,copying,distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. From: Rafaela Martinez Sent: Friday, September 04, 2015 1:08 PM To: Courtney Anaya Cc: Esther Gesick Subject: Questions on Accounts - Stipulated Hi Courtney. Per our conversation on the phone, these are accounts that I need confirmation on BOTII values. "Thanks! R6781 1 36—This one was denied at the Assessor level, so the value prior to CBOE was $1,675,285. The Stipulated value at the CBOE level was $1,476,100 R4091086—This one was denied at the Assessor level, so the value prior to CBOE was $187,802. The Stipulated value at the CBOE level was $1.50,000. R5250708 —This one was denied at the Assessor level, so the value prior to CBOE was ` 40.628.068. The Stipulated value at the CBOE level was $32,764.571 R6778002 This one was denied at the Assessor level, so the value prior to CBOE was $29,739.806. The Stipulated value at the CBOE level was $23,406,329 R6778001 —This one was denied at the Assessor level, so the value prior to CBOE was $47.641,019. The Stipulated value at the CBOE level was $38,420,177 1 R5250708—This one is a repeat of three above. R4182106 —This one was Adjusted at the Assessor level, so the value prior to CBOE was $496,500 (however, the Stipulation shows a prior value of$496,000). The Stipulated value at the CBOE level was $478,000 R6783928 - This one was Denied at the Assessor level, so the value prior to CBOE was $293,490. The Stipulated value at the CBOE level ivas $268,490 P1552499— This one was Denied at the Assessor level, so the value prior to CBOE was $375,453. The Stipulated value at the CBOE level was $240,809 These accounts all have different amounts on the spreadsheet compared to their Stipulation Form that was signed. Thanks again! Rafaela a. 'Martinez Deputy Clerk to the Board 1150 O Street/P.O. Box 758IGreeley, CO 80632 tel: (970)336-7215 X5226 - Confidentiality Notice:This electronic transmission and any attached documents or other writings are intended only for the person or entity to which it is addressed and may contain information that is privileged,confidential or otherwise protected from disclosure.If you have received this communication in error,please immediately notify sender by return e-mail and destroy the communication.Any disclosure,copying,distribution or the taking of any action concerning the contents of this communication or any attachments by anyone other than the named recipient is strictly prohibited. 2 COUNTY BOARD OF EQUALIZATION WELD COUNTY Single County Schedule Number R5250708 STIPULATION (As To Tax Year_2015_Actual Value) RE PETITION OF : NAME: Vestas Blades America Inc ADDRESS: 11140 Eastman Park Dr. Windsor, CO Petitioner(s)and the Weld County Assessor hereby enter into this Stipulation regarding the tax year 2015 valuation of the subject property,and jointly move the Board of Equalization to enter its order based on this Stipulation. Petitioner(s)and Assessor agree and stipulate as follows: 1. The property subject to this Stipulation is described as: L1 BLK1 GREAT WESTERN INDUSTRIAL PARK 3RD FG 2. The subject property is classified as commercial property. 3. The County Assessor originally assigned the following actual value to the subject property for the tax year 2015: Total $40,628,068.00 4. After further review and negotiation, Petitioner(s) and Weld County Assessor agree to the following tax year 2015 actual value for the subject property: Total $32,764,571.00 5. The valuation, as established above,shall be binding only with respect to tax year 2015. 6. Brief narrative as to why the reduction was made: After further review of the market an adjustment was indicated. 7. Both parties agree that: ®The hearing scheduled before the Board of Equalization on July 30th 2015 at 4:15 PM be vacated. ❑A hearing has not yet been scheduled before the Board of Equalization. R5250708 2015-2568 1 Asoo 1/ DATED this 27th day of July, 2015. Petitioner(s) or Agent or Attorney (Assis ant) County Attorne or Respondent, Weld County Board of Commissioners Address: Address: i 2.-,LO tJ . .5(-O,11-,..,, � LE ::, , 1150 "O" Street (, ,; " _ c P.O. Box 758 S 0 A ?w ',g 2,r:,x., Greeley, CO 80632 Telephone: --73`r ., `°`'i Cri Telephone:(970) 336-7235 .... ", ec r } ,,,,,„:„Al 1 C Linty Ass ssorl Address: 1400 N.17th Avenue Greeley, CO 80631 Telephone: (970) 353-3845 ext. 3697 Docket Number Stip-1.Frm R5250708 2 CLERK TO THE BOARD 1861 / PHONE (970) 336-7215, EXT 4226 FAX (970) 352-0242 WEBSITE: www.co.weld.co.us 1150 O STREET J\ P.O. BOX 758 Iri3W\IVETEC GREELEY CO 80632 IJ � TY July 22, 2015 VESTAS BLADES AMERICA INC 11140 EASTMAN PARK DR WINDSOR, CO 805503397 Account No.: R5250708 Dear Petitioner(s): The Weld County Board of Equalization has set a date of July 30, 2015, at or about the hour of 4:15 PM, to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Administration Building, Assembly Room, 1150 O Street, Greeley, Colorado. You have a right to attend this hearing and present evidence in support of your petition. The Weld County Assessor or his designee will be present. The Board will make its decision on the basis of the record made at the aforementioned hearing, as well as your petition, so it would be in your interest to have a representative present. If you plan to be represented by an agent or an attorney at your hearing, prior to the hearing you shall provide, in writing to the Clerk to the Board's Office, an authorization for the agent or attorney to represent you. If you do not choose to attend this hearing, a decision will still be made by the Board by the close of business on August 5, 2015, and mailed to you on or before August 12, 2015. Because of the volume of cases before the Board of Equalization, most cases shall be limited to 10 minutes. Also due to volume, cases cannot be rescheduled. It is imperative that you provide evidence to support your position. This may include evidence that similar homes in your area are valued less than yours or you are being assessed on improvements you do not have. Please note: The fact that your valuation has increased cannot be your sole basis of appeal. Without documented evidence as indicated above, the Board will have no choice but to deny your appeal. If you wish to obtain the data supporting the Assessor's valuation of your property, please submit a written request directly to the Assessor's Office by fax (970) 304-6433, or if you have questions, call (970) 353-3845. Upon receipt of your written request, the Assessor will notify you of the estimated cost of providing such information. Payment must be made prior to the Assessor providing such information, at which time the Assessor will make the data available within three (3) working days, subject to any confidentiality requirements. I AS0091 VESTAS BLADES AMERICA INC - R5250708 Page 2 Please advise me if you decide not to keep your appointment as scheduled. If you need any additional information, please call me at your convenience. Very truly yours, BOARD OF EQUALIZATION Esther E. Gesick Clerk to the Board Weld County Board of County Commissioners cc: Christopher Woodruff, Assessor RYAN LLC 16220 N SCOTTSDALE ROAD SUITE 650 SCOTTSDALE, AZ 85254 AS0091 NOTIRECE V INATIQN Christopher M. Woodruff JUL 2 0 2015 Date of Notice: 6/30/2015 Weld County Assessor Telephone: (970) 353-3845 1400 N 17''' Ave WELD COUNTY Fax: (970) 304-6433 Greeley, CO 80631 nn?,;ll..1!Pi( lERS Office Hours: 8:00AM — 5:00PM ACCOUNT NO. TAX YEAR TAX AREA LEGAL DESCRIPTION/PHYSICAL LOCATION _I R5250708 2015 4010 WIN 3GWIP L1 BLK1 GREAT WESTERN INDU • STRIAL PARK 3RD FG CC VESTAS BLADES AMERICA INC 11140 EASTMAN PARK DR 11140 EASTMAN PARK DR O WINDSOR,CO 80550-3397 WINDSOR,CO 000000000 CC CC w a O o[ O. ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ACTUAL VALUE PRIOR TO ACTUAL VALUE AFTER REVIEW REVIEW INDUSTRIAL 40,628,068 40.028.068 TOTAL $40,628,068 $40,628,068 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: CM05 - The law requires that data from Jan 2013 to June 2014 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 in the fall. If you are concerned about mill levies, we recommend that you attend these budget hearings. Please refer to last year's tax bill or ask your Assessor for a listing of the local taxing authorities. I f Please refer to the reverse side of this notice for additional information. Agent (If Applicable): RYAN LLC 16220 N SCOTTSDALE ROAD SUITE 650 SCOTTSDALE, AZ 85254 CC; CW( j21 6000-0294 ------- ---- --- APPEAL PROCEDURES i County Board of Equalization Hearings will be held from July 29 through August 5 at 1150 O Street. 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 1 150 O Street, P.O. Box 758 Greeley, CO 80631 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 — 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 District Court 1313 Sherman Street, Room 315 Contact the District Court in the County Denver, CO 80203 where the property is located. See your (303) 866-5880 local telephone book for the address and www.dola.colorado.gov/baa telephone number. 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. IETITION TO COUNTY BOARD OF EQUALIZATION What is your estimate of the property's value as of June 30, 2014? (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.) $ Z .6 Z.-0.00) 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.) SEE. AT-rA EP (-,v,ii°11 12./4ti, SALES I ATTESTATION I, the undersigned owner or agent' of the property identified above, affirm that the statements contained herein and,gn any attachments hereto are true and complete. f�/`Ir r Q. 6©Z- cisS- f 9a 1 I tit I IS. Signature Telephone Number Date �.. KattnL,ts e' g'7AN , no Dail dress ' Attach letter of authorization signed by property owner. 15 OPT-AR PR 207-08/13 R5250708 8431095 I COUNTY BOARD OF EQUALIZATION WELD COUNTY Single County Schedule Number R6778001 STIPULATION(As To Tax Year_2015_Actual Value) RE PETITION OF : NAME; Vestas Blades America Inc ADDRESS: 1500 E. Crown Prince Blvd Brighton, CO Petitioner(s) and the Weld County Assessor hereby enter into this Stipulation regarding the tax year 2015 valuation of the subject property, and jointly move the Board of Equalization to enter its order based on this Stipulation. Petitioner(s)and Assessor agree and stipulate as follows: 1. The property subject to this Stipulation is described as: L1 BLK 1 VESTAS BLADES &NACELLA CAMPUS FG#1 THAT PART LYING N2 OF SEC 29 2. The subject property is classified as commercial property. 3. The County Assessor originally assigned the following actual value to the subject property for the tax year 2015: Total $47,641,019.00 4. After further review and negotiation, Petitioner(s)and Weld County Assessor agree to the following tax year 2015 actual value for the subject property: Total $38,420,177.00 5. The valuation, as established above, shall be binding only with respect to tax year 2015. 6. Brief narrative as to why the reduction was made: After further review of the market an adjustment was indicated. 7. Both parties agree that: ®The hearing scheduled before the Board of Equalization on July 30th 2015 at 4:15 PM be vacated. ❑A hearing has not yet been scheduled before the Board of Equalization. R6778001 1 DATED this 27th day of July, 2015. Petitioner(s)(pr Agent or Attorney (Assistant) County Attorney for Respondent, Weld County Board of Commissioners Address: Address: 6 Zzo N SGo4+ .tAA L f,okt> 1150 "O" Street Svcrt. 6So P.O. Box 758 Sep-} OALA 4Z Greeley, CO 80632 Telephone: 6 1.3- 3$- S 46 7 Telephone:(970) 336-7235 CT Tyrfig County Asse sor Address: 1400 N.17th Avenue Greeley, CO 80631 Telephone: (970) 353-3845 ext. 3697 Docket Number Stip-1.Frm R6778001 2 CLERK TO THE BOARD 1861 / PHONE (970) 336-7215, EXT 4226 FAX (970) 352-0242 1411-MDC.-.7)1‘ WEBSITE: www.co.weld.co.us 1150 O STREET P.O. BOX 758 G N T Y GREELEY CO 80632 O U July 22, 2015 VESTAS BLADES AMERICA INC 11140 EASTMAN PARK DR WINDSOR, CO 805503397 Account No.: R6778001 Dear Petitioner(s): The Weld County Board of Equalization has set a date of July 30, 2015, at or about the hour of 4:15 PM, to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Administration Building, Assembly Room, 1150 0 Street, Greeley, Colorado. You have a right to attend this hearing and present evidence in support of your petition. The Weld County Assessor or his designee will be present. The Board will make its decision on the basis of the record made at the aforementioned hearing, as well as your petition, so it would be in your interest to have a representative present. If you plan to be represented by an agent or an attorney at your hearing, prior to the hearing you shall provide, in writing to the Clerk to the Board's Office, an authorization for the agent or attorney to represent you. If you do not choose to attend this hearing, a decision will still be made by the Board by the close of business on August 5, 2015, and mailed to you on or before August 12, 2015. Because of the volume of cases before the Board of Equalization, most cases shall be limited to 10 minutes. Also due to volume, cases cannot be rescheduled. It is imperative that you provide evidence to support your position. This may include evidence that similar homes in your area are valued less than yours or you are being assessed on improvements you do not have. Please note: The fact that your valuation has increased cannot be your sole basis of appeal. Without documented evidence as indicated above, the Board will have no choice but to deny your appeal. If you wish to obtain the data supporting the Assessor's valuation of your property, please submit a written request directly to the Assessor's Office by fax (970) 304-6433, or if you have questions, call (970) 353-3845. Upon receipt of your written request, the Assessor will notify you of the estimated cost of providing such information. Payment must be made prior to the Assessor providing such information, at which time the Assessor will make the data available within three (3) working days, subject to any confidentiality requirements. AS0091 VESTAS BLADES AMERICA INC - R6778001 Page 2 Please advise me if you decide not to keep your appointment as scheduled. If you need any additional information, please call me at your convenience. Very truly yours, BOARD OF EQUALIZATION t2 ;,,k. Esther E. Gesick Clerk to the Board Weld County Board of County Commissioners cc: Christopher Woodruff, Assessor RYAN LLC 16220 N SCOTTSDALE ROAD SUITE 650 SCOTTSDALE, AZ 85254 AS0091 NOTICE OF DETERMINATION RECEIVED Christopher M. Woodruff JUL 2 0 2015 Date of Notice: 6/30/2015 Weld County Assessor Telephone: (970) 353-3845 1400 N Ave WELD COUNTY Fax: (970) 304-6433 Greeley, CO 80631 n� Office Hours: 8:00AM -5:00PM ACCOUNT NO. TAX YEAR TAX AREA LEGAL DESCRIPTION/PHYSICAL LOCATION R6778001CC 2015 4297 PT L1 BLK 1 VESTAS BLADES&NACELLA CAMP US FG#1 THAT PART LYING N2 OF SEC 29 VESTAS BLADES AMERICA INC z 11 140 EASTMAN PARK DR 1500 E CROWN PRINCE BLVD B WINDSOR,CO 80550.3397 BRIGHTON.CO 000000000 to a O a ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ACTUAL VALUE PRIOR TO ACTUAL VALUE AFTER REVIEW REVIEW INDUSTRIAL 47,641.0'9 47,641,019 TOTAL $47,641,019 $47,641,019, 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: CM05 - The law requires that data from Jan 2013 to June 2014 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 in the fall. If you are concerned about mill levies, we recommend that you attend these budget hearings. Please refer to last year's tax bill or ask your Assessor for a listing of the local taxing authorities. Please refer to the reverse side of this notice for additional information. Agent (If Applicable): RYAN LLC 16220 N SCOTTSDALE ROAD SUITE 650 SCOTTSDALE, AZ 85254 t 5-DPT-AR PR 207.08/13 R6778001 8431096 I z . . APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 29 through August 5 at 1150 O Street. 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 1150 0 Street, P.O. Box 758 Greeley, CO 80631 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 — 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 District Court 1313 Sherman Street, Room 315 Contact the District Court in the County Denver, CO 80203 where the property is located. See your (303) 866-5880 local telephone book for the address and www.dola.colorado.aov/baa telephone number. Binding Arbitration For a list of arbitrators, contact the County Commissioners at the address listed for the County Board of Equalization. i if the date for filing any report, schedule, claim, tax return, statement, remittance, or other document falls upon a Saturday, Sunday, or legal holiday, it shall be deemed to have been timely filed if filed on the next business day, ¢ 39-1-120(3), C.R.S. PETITION TO COUNTY BOARD OF EQUALIZATION What is your estimate of the property's value as of June 30, 2014? (Your opinion of value in terms of a specific dollar mount is required for real property pursuant to§ 39-8-106(1.5), C.R.S.) $ 33 -LS 1tooc> 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.) SE. , f3 T°r't1 c N E ij — CO w,T A RP t3L E S A it ES I ATTESTATION - j I, the undersigned owner or agent' of the property identified above, affirm that the statements contained herein and any attachments hereto are true and complete. '44W(11 .455. 1711 1 ( (1i/ 16. Signature Telephone Number Date q(ori . I'ojud lsEoryas . Con Email Address ' Attach letter of authorization signed by property owner. 15-DPT-AR PR 207-08/13 R6778001 8431096 COUNTY BOARD OF EQUALIZATION WELD COUNTY Single County Schedule Number R6778002 STIPULATION (As To Tax Year_2015_Actual Value) RE PETITION OF NAME: Vestas Blades America Inc ADDRESS: 1500 E. Crown Prince Blvd Brighton, CO Petitioner(s)and the Weld County Assessor hereby enter into this Stipulation regarding the tax year 2015 valuation of the subject property, and jointly move the Board of Equalization to enter its order based on this Stipulation. Petitioner(s)and Assessor agree and stipulate as follows: 1. The property subject to this Stipulation is described as: LI BLK I VESTAS BLADES &NACELLA CAMPUS FG#1 THAT PART LYING N2 OF SEC 29 2. The subject property is classified as commercial property. 3. The County Assessor originally assigned the following actual value to the subject property for the tax year 2015: Total $29,739,806.00 4. After further review and negotiation,Petitioner(s) and Weld County Assessor agree to the following tax year 2015 actual value for the subject property: Total $23,406,329.00 5. The valuation, as established above, shall be binding only with respect to tax year 2015. 6. Brief narrative as to why the reduction was made: After further review of the market an adjustment was indicated. 7. Both parties agree that: ®The hearing scheduled before the Board of Equalization on July 30th 2015 at 4:15 PM be vacated. ❑A hearing has not yet been scheduled before the Board of Equalization. R6778002 1 DATED this 27th day of July,2015. _7610tA) 4A---V"A___- Petit ion e r s){br Agent or Attorney (Assistant) County Attorney for Respondent, Weld County Board of Commissioners Address: Address: l 2Zo N , Sc.. s0ALf. koAt, 1150 "O" Street SvtT£ G5o P.O. Box758 Se- 1-Lrs� E, AZ_. 't Z. Greeley, CO 80632 r Telephone: �--3 - 3"' .. Lt C Telephone:(970) 336-7235 ( ;çi �'1l14''4 44 C unt Assessor v Address: 1400 N.17th Avenue Greeley, CO 80631 Telephone: (970) 353-3845 ext. 3697 Docket Number Stip-l.Frm I R6778002 CLERK TO THE BOARD 1861 / PHONE (970) 336-7215, EXT 4226 FAX (970) 352-0242 ! i WEBSITE: www.co.weld.co.us I -r. 1150OSTREET P.O. BOX 758 131( GREELEY CO 80632 LINTY 1 C O - July 22, 2015 VESTAS BLADES AMERICA INC 11140 EASTMAN PARK DR WINDSOR, CO 805503397 Account No.: R6778002 Dear Petitioner(s): The Weld County Board of Equalization has set a date of July 30, 2015, at or about the hour of 4:15 PM, to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Administration Building, Assembly Room, 1150 O Street, Greeley, Colorado. You have a right to attend this hearing and present evidence in support of your petition. The Weld County Assessor or his designee will be present. The Board will make its decision on the basis of the record made at the aforementioned hearing, as well as your petition, so it would be in your interest to have a representative present. If you plan to be represented by an agent or an attorney at your hearing, prior to the hearing you shall provide, in writing to the Clerk to the Board's Office, an authorization for the agent or attorney to represent you. If you do not choose to attend this hearing, a decision will still be made by the Board by the close of business on August 5, 2015, and mailed to you on or before August 12, 2015. Because of the volume of cases before the Board of Equalization, most cases shall be limited to 10 minutes. Also due to volume, cases cannot be rescheduled. It is imperative that you provide evidence to support your position. This may include evidence that similar homes in your area are valued less than yours or you are being assessed on improvements you do not have. Please note: The fact that your valuation has increased cannot be your sole basis of appeal. Without documented evidence as indicated above, the Board will have no choice but to deny your appeal. If you wish to obtain the data supporting the Assessor's valuation of your property, please submit a written request directly to the Assessor's Office by fax (970) 304-6433, or if you have questions, call (970) 353-3845. Upon receipt of your written request, the Assessor will notify you of the estimated cost of providing such information. Payment must be made prior to the Assessor providing such information, at which time the Assessor will make the data available within three (3) working days, subject to any confidentiality requirements. AS0091 VESTAS BLADES AMERICA INC - R6778002 Page 2 Please advise me if you decide not to keep your appointment as scheduled. If you need any additional information, please call me at your convenience. Very truly yours, BOARD OF EQUALIZATION Esther E. Gesick Clerk to the Board Weld County Board of County Commissioners cc: Christopher Woodruff, Assessor RYAN LLC 16220 N SCOTTSDALE ROAD SUITE 650 SCOTTSDALE, AZ 85254 AS0091 NOTIC Q � nNATION Christopher M. Woodruff JUL 2 0 2015 Date of Notice: 6/30/2015 Weld County Assessor Telephone: (970) 353-3845 1400 N 17'" Ave WELD COUNTY Fax: (970) 304-6433 Greeley, CO 80631 COMMISSIONERS Office Hours: 8:00AM — 5:00PM ACCOUNT NO. TAX YEAR TAX AREA LEGAL DESCRIPTION/PHYSICAL LOCATION 4 R6778002 2015 14296 PT L1 BLK 1 VESTAS BLADES&NACELLA CAMP - - US FG#1 THAT PT LYING S2 OF SEC 29 w VESTAS BLADES AMERICA INC 11140 EASTMAN PARK OR 1500 E CROWN PRINCE BLVD N WINDSOR,CO 80550-3397 BRIGHTON,CO 000000000 w 0 0 a. ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ACTUAL VALUE PRIOR TO i ACTUAL VALUE AFTER REVIEW REVIEW INDUSTRIAL 29,139,806 29.739,806 TOTAL $29,739,806 $29,739,806 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: CM05 - The law requires that data from Jan 2013 to June 2014 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 in the fall. If you are concerned about mill levies, we recommend that you attend these budget hearings. Please refer to last year's tax bill or ask your Assessor for a listing of the local taxing authorities. Please refer to the reverse side of this notice for additional information. Agent(If Applicable): RYAN LLC 16220 N SCOTTSDALE ROAD SUITE 650 SCOTTSDALE, AZ 85254 15-DPT AR PR 207-08/13 R6778002 8431100 Iiu•L - -:;y APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 29 through August 5 at 1150 O Street. 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 1150 O Street,P.O.Box 758 Greeley,CO 80631 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—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 District court 1313 Sherman Street,Room 315 Contact the District Court in the County Denver,CO 80203 where the property is located. See your (303)866-5880 local telephone book for the address and www.dola.colorado.aovlbaa telephone number. Binding Arbitration For a list of arbitrators,contact the County Commissioners at the address listed for the County Board of Equalization. If the date for filing any report,schedule,claim,tax return,statement,remittance,or other document falls upon a Saturday,Sunday,or legal holiday,it shall be deemed to have been timely filed if filed on the next business day,§39-1-120(3),C.R.S. PETITION TO COUNTY BOARD OF EQUALIZATION What is your estimate of the property's value as of June 30,2014? (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.) $ I i,834,r2on 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.) SEC ATrAGHEl> — C PA12A134E Sit(...E ATTESTATION I,the undersigned owner or agent'of the property identified above,affirm that the statements contained herein and any attachments hereto are true and complete. "e. (Do 2.955.nql_ /is Si nature-Q-57)1 Telephone Number Date elorote sKol-alib r cAn.Con 'Attach letter of authorization signed by property owner. 15-OPT-AR PR 207-08/13 R6778002 8431100 STATEMENT OF AGENCY Vestas Blades America, Inc. Hereby appoints Ryan, LLC as agent for the purpose of filing real estate and personal pmpe►ty statements, renditions, returns and/or assessment appeals, applications or petitions for review of valuation with all counties, appraisal districts and/or Assessment Appeal Boards, Boards of Review, or Boards of Equalization,appearing on our behalf before said Boards,examining any records,and discussing with the appropriate governmental authority the assessment of the property located at the following address: All property located in Weld County,Colorado This property being owned by the undersigned incorporated in the State of Colorado. This agency shall remain in effect for the 2015 and 2016 assessment years. Nana: ,$/t--741—C" Signature inge Darr Sotionziked old swan to Wont north ,r6 day off n! QJ4i2 ‘7 �I ll"tailln2 r Stake of (VOA bo (C' taftg�c�{f ,AiA►r c MARIA V.BRA-CE-L rA O t��1�YJIl`fiA1C0lfM1(f3Dj�CllRt�t: /Via� „n�� NOTARY pUBPUBLICmm.No. 20004041800 My Commla CoS�Jor�TE hxOFplresCO DscemborRADq 8,aQ�Q MAX at Kierland I?1a,iø) 16220 North Scottsdale Road Suite 650 Rlfan0 nnov bon> Scottsdale,AZ 85254 to ro,00 Prop om, Tel.602.955.1792 CERTIFIED MAIL 9214 7969 0099 9790 1602 6207 33 Fax 602.955.4892 RETURN RECEIPT REQUESTED www.ryan.com July 14, 2015 Weld County RECEIVED Board of Equalization 1150 O Street JUL 2 0 2015 PO Box 758 Greeley, CO 80631 WELD COUNTY COMMISSIONERS Re: 2015 Real Property Appeals Vestas Blades of America, Inc. Account Numbers: R6778001, R6778002, and R5250708 To Whom It May Concern: Ryan, LLC is the duly authorized agent for the above referenced taxpayer. Enclosed are the 2015 Real Property Appeals to the County Board of Equalization for the accounts listed above, along with documentation supporting our requested assessment: Facility Schedule# Weld County Taxpayer Notice of $/SF Requested Value $/SF Determination Blades—Brighton R6778001 $47,641,019 $93.11 $33,259,000 $65.00 Nacelles—Brighton R6778002 $29,739,806 $108.39 $17,834,000 $65.00 Blades—Windsor R5250708 $40,628,068 $92.78 $28,462,000 $65.00 Please contact me if you have any questions at george.kokalis@ryan.com or 602.955.4892. Regards, George Kokalis Manager MAX at Kierland 18220 North Scottsdale Road Suite 650 Scottsdale,AZ 85254 IIjfcsii ?) Tei. 8029551792Fax 8029554892(IYI( 5u'u(iom !„(uri114WOl kOh' www.ryan.com CERTIFIED MAIL-9214 7969 0099 9790 1601 9138 74 RETURN RECEIPT REQUESTED May 29,2015 Assessor's Office Weld County 1400 North 17th Avenue Greeley, Colorado 80631 Re: Notice of Protest of Real Property Valuation Vestas Blades America, Inc.—2015 Tax Year To Whom It May Concern: Ryan, LLC is the duly authorized agent for property tax matters concerning Vestas Blades America, Inc. This letter along with the attached Real Property Questionnaire is our notice of protest of the assessor's preliminary values indicated for the 2015 Tax Year. The properties under protest are identified below. Facility Schedule# Weld $/SF Taxpayer $/SF County Requested Actual Value Value Brighton Blades R6778001 $47,641,019 $93.11 $33,259,000 $65.00 Brighton Nacelles R6778002 $29,739,806 $108.39 $17,834,000 $65.00 Windsor Blades R5250708 $40,628,068 $92.78 $28,462,000 $65.00 Market sales data, including the data attached to this protest, demonstrate the plausible range of market value for the Vestas properties is from $30 to $84 per square foot. The unusual configuration of the Vestas manufacturing facilities reduces their market value,making them less marketable. Nevertheless, we believe a unit price slightly above the midpoint of the sales range is appropriate. The taxpayer is requesting a value of$65.00 per square foot for each facility. Weld County May 29, 2015 Page 2 Plant Name Address City ST Built Plant SF lean Sale Date Status S/SF Masco Plant 10026 S.Prosperity Rd. West Jordan UT 2006 846,216 75.5 12/17/2012 Sold $36.04 Mesa Gateway 3740 S.Signal Butte Rd. Mesa AZ 2012 1,328,075 65.0 10/31/2013 Sold $81.02 Caterpillar Plant 1720 W.Kingsbury Sequin TX 2011 300,000 27.0 10/31/2013 Sold $75.33 Chrysler Plant 5880 State Rd.28 Tipton IN 2010 781,500 106.00 12/21/2012 Sold $35.70 United Foods 17901 E 40th Ave Aurora CO 2013 553,757 37.73 9/13/2013 Sold S83.70 CoorsTek 4455 Table Mtn.Rd. Golden CO 1996 336,606 14.49 3/23/2012 Sold $29.71 Coors Tech Cir. 16200 Table Mtn.Pkwy. Golden CO 1998 227,500 11.95 2/27/2013 Sold S37.80 Please contact me at your earliest opportunity so that we may address the proper valuation treatment of the subject facilities for the 2015 Tax Year. You may reach me at 602.955.1792 or george.kokalisAryan.com. Regards, `K George Kokalis Manager Account NumberR6778001 Parcel Number 147129201001 Owner Name Vestas Riades America Inc Phone Number 623-738-3469 e-mail george.kokalis@ryan.com REAL PROPERTY QUESTIONNAIRE Attach additional documents as necessary. MARKET APPROACH This approach to value uses comparable sales from the appropriate time period to determine the actual value of your property. The following items, if known, will help you estimate the market value of your property. If available,attach a copy of any appraisal or written estimate of value. Have similar properties in your immediate neighborhood sold within the 18-month data gathering period? DATE SOLD PROPERTY ADDRESS SELLING PRICE SEE COVER LETTER Based on these sales and accounting for differences between sold properties and your property, state the value of your property. $33.259.000 COST APPROACH (For Non-Residential Properties Only) This approach to value uses replacement construction costs from the appropriate time period to determine the value of your property. The following items, if known, will help you estimate the replacement cost of your property. ORIGINAL YEAR BUILT BUILDER CONSTRUCTION COST List all changes made to your property prior to January 1 of the current year, i.e., remodeling of storefront; expansion of storage area;addition to parking,service or manufacturing area. DATE DESCRIPTION OF CHANGE COST Is your structure in typical condition for its age? If not,why? Based on the replacement cost of construction and of any changes, including depreciation, state the total value of your property. $ INCOME APPROACH (For Non-Residential.Properties Only) This approach to value converts economic net income from the appropriate time period into present worth. If the property was rented or leased, attach operating statements showing rental and expense amounts for this property. Indicate square foot rental rate for all tenants. (Attach rent and lease schedule) If known,list rents of comparable properties. If available,attach operating statements showing rental and expense amounts for comparable properties. If an appraisal using the Income approach was conducted,please attach. FINAL ESTIMATE OF VALUE State your final estimate of the property's value. $33.259.000 15-AR-OPT ARLVOL2 1-84 Rev 10-09 5/2012015 Property Report mot x �. Weld County r , r Property Report couNt " Account: R6778001 May 29, 2015 Account Information Account Parcel Space Account Tax Tax Buildings Actual Assessed Type Year Area Value Value R6778001 147129201001 Industrial 2015 4297 4 47,641,019 13,815,890 Legal PT L1 BLK 1 VESTAS BLADES&NACELLA CAMPUS FG#1 THAT PART LYING N2 OF SEC 29 Subdivision Block Lot Land Economic Area VESTAS BLADES NACELLE CAMPUS SUB FG 1 1 1 Vestas Development Property Address Property City Zlp Section Township Range 1500E CROWN PRINCE BLVD B BRIGHTON 000000000 29 01 66 Owner(s) Account Owner Name Address R6778001 VESTAS BLADES AMERICA 11140 EASTMAN PARK DR WINDSOR,CO INC 805503397 Valuation Information myasilimpetgyxypuosnaoowtetucQotusifflatmount= 8910 me 5/29/2015 Property Report Actual Assessed Land Type Code Description Value Value Acres 8gFt Improvement 3215 MANUFACTURED PROCESSING 37,848,731 10,976,130 0.000 0 IMPS Land 3115 MANUFACTURED/PROCESSING 9,792,288 2,839,760 112.400 4,896,144 LAND Totals - - 47,641,0191 13,815,890 112.400 4,896,144 nttlps/l(p ttien eittcenwcetnarougtnamnunfa flat IIIE Account NumberR6778002 Parcel Number 147129301002 Owner Name Vestas Rlades America Inc Phone Number 623-738-3469 a-ma il george.kokalis@ryan.com REAL PROPERTY QUESTIONNAIRE Attach additional documents as necessary. MARKET APPROACH This approach to value uses comparable sales from the appropriate time period to determine the actual value of your property. The following items, if known, will help you estimate the market value of your property. If available,attach a copy of any appraisal or written estimate of value. Have similar properties in your immediate neighborhood sold within the 18-month data gathering period? DATE SOLD PROPERTY ADDRESS SELLING PRICE SEE COVER LETTER Based on these sales and accounting for differences between sold properties and your property,state the value of your property. $17.834.000 COST APPROACH (For Non-Residential Properties Only) This approach to value uses replacement construction costs from the appropriate time period to determine the value of your property. The following items, if known, will help you estimate the replacement cost of your property. ORIGINAL YEAR BUILT BUILDER CONSTRUCTION COST List all changes made to your property prior to January 1 of the current year, i.e., remodeling of storefront; expansion of storage area;addition to parking,service or manufacturing area. DATE DESCRIPTION OF CHANGE COST Is your structure in typical condition for its age? If not,why? Based on the replacement cost of construction and of any changes, including depreciation, state the total value of your property. $ INCOME APPROACH (For Non-Residential Properties Only) This approach to value converts economic net Income from the appropriate time period into present worth. If the property was rented or leased, attach operating statements showing rental and expense amounts for this property. Indicate square foot rental rate for all tenants. (Attach rent and lease schedule) If known,list rents of comparable properties. If available,attach operating statements showing rental and expense amounts for comparable properties, If an appraisal using the income approach was conducted,please attach. FINAL ESTIMATE OF VALUE State your final estimate of the property's value. $17,834,000 15-AR-DPT ARL VOL 2 1-84 Rev 10-09 5/29/2015 Property Report Weld County 1. , ` Property Report Account: R6778002 May 29, 2015 Account Information Account Parcel Space Account Tax Tax Buildings Actual Assessed Type Year Area Value Value R6778002 147129301002 Industrial 2015 4296 3 29,739,806 8,624,540 Legal PT L1 BLK 1 VESTAS BLADES&NACELLA CAMPUS FG#1 THAT PT LYING S2 OF SEC 29 Subdivision Block Lot Land Economic Area VESTAS BLADES NACELLE CAMPUS SUB FG 1 1 1 Vestas Development Prop Property Address City arty Zip Section Township Range 1500 E CROWN PRINCE BLVD BRIGHTON 000000000 29 01 66 Owner(s) Account Owner Name Address R6778002 VESTAS BLADES AMERICA 11140 EASTMAN PARK DR WINDSOR,CO INC 805503397 Valuation Information - mtlpol/impeitIYrgPodtma aild aolue7Ramoudt9 ON tirt2 6/29/2016 Property Report Actual Assessed Land Type Code Description Value Value Acres SgFt MANUFACTURED PROCESSING Improvement 3215 24,009,636 6,962,790 0.000 0 IMPS MANUFACTURED/PROCESSING- Land 3115 5,730,170 1,661,750 65.773 2,865,085 LAND Totals - - 29,739,806 8,624,640 66.773 2,866,086 lutist lEtn flimi YMBitaumetuucaauriPlaa.aamitmE AiDE Account NumberR5250708 Parcel Number 080725202001 Owner Name Vestas Blades America Inc Phone Number 623-738-3469 a--mail george.kokalis@ryan.com REAL PROPERTY QUESTIONNAIRE Attach additional documents as necessary. MARKET APPROACH This approach to value uses comparable sales from the appropriate time period to determine the actual value of your property. The following items, if known, will help you estimate the market value of your property. If available,attach a copy of any appraisal or written estimate of value. Have similar properties in your immediate neighborhood sold within the 18-month data gathering period? DATE SOLD PROPERTY ADDRESS SELLING PRICE SEE COVER LETTER Based on these sates and accounting for differences between sold properties and your property,state the value of your property. $28.462.000 COST APPROACH (For Non-Residential Properties Only) This approach to value uses replacement construction costs from the appropriate time period to determine the value of your property. The following items, if known, will help you estimate the replacement cost of your property. ORIGINAL YEAR BUILT BUILDER CONSTRUCTION COST List all changes made to your property prior to January 1 of the current year, i.e., remodeling of storefront; expansion of storage area;addition to parking,service or manufacturing area. DATE DESCRIPTION OF CHANGE COST Is your structure in typical condition for its age? If not,why? Based on the replacement cost of construction and of any changes, including depreciation, state the total value of your property. $ INCOME APPROACH (For Non-Residential Properties Only) This approach to value converts economic net income from the appropriate time period into present worth. If the property was rented or teased, attach operating statements showing rental and expense amounts for this property. Indicate square foot rental rate for all tenants. (Attach rent and lease schedule) If known,list rents of comparable properties. If available,attach operating statements showing rental and expense amounts for comparable properties. If an appraisal using the income approach was conducted,please attach. FINAL ESTIMATE OF VALUE State your final estimate of the property's value. $28.462,000 15-AR-DPT ARL VOL 2 1-84 Rev 10-09 5/29/2015 Property Report ,tio Weld County 1, � ` Property Report coy Account: R5250708 May 29, 2015 Account Information Account Parcel Space Account Tax Tax Buildings Actual Assessed Type Year Area Value Value R5250708 080725202001 Industrial 2015 4010 5 40,628,068 11,782,140 Legal WIN 3GWIP L1 BLK1 GREAT WESTERN INDUSTRIAL PARK 3RD FG Subdivision Block Lot Land Economic Area GREAT WESTERN INDUSTRIAL PARK SUB GREAT WESTERN INDUSTRIAL 3RD FG 1 1 PARK Property Address Property City Zip Section Township Range 11140 EASTMAN PARK DR WINDSOR 000000000 25 06 67 Owner(s) Account Owner Name Address R5250708 VESTAS BLADES AMERICA 11140 EASTMAN PARK DR WINDSOR,CO INC 805503397 Valuation Information 1Rerliget PetWxgpattcae wc9ltlmaurinaaaouet=1R5211108 111E 5/29/2016 Property Report Type Code Description Actual Assessed Acres Land Value Value SgFt Improvement 3215 MANUFACTURED PROCESSING- 35,081,398 10,173,610 0.000 0 IMPS MANUFACTUREDIPROCESSING Land 3115 5,546,670 1,608,530 72.767 3,169,707 LAND Totals - - 40,628,068 11,782,140 72.767 3,169,707 IlltipsllipuniintiNeptettcaavalttlaousillimanui9.06M0B 10026 S Prosperity Rd -Boeing -Bingham Industrial Park SOLD Bingham Industrial Park West Jordan,UT 84081 Sale on 12/17/2012 for$30,500,000(S36.04/SF)-Research Complete 846,218 SF Class A Manufacturing Building Built In 2006 p rt . y r , r ' .. r •131 1 x .tCi,)tit.. r?( ' s Ji:r..r. 'ut r 11;41-1,tilsYE(L'W- Buyer&Seller Contact Info Recorded Buyer: The Boeing Company Recorded Seller: Masco Cabinetry,LLC True Buyer: The Boeing Company True Seller: MASCO Corporation W.James McNerney Jerry Mollien 100 N Riverside Piz 21001 Van Born Rd Chicago,IL 60606 Taylor,MI 48180 (312)544-2000 (313)274-7400 Buyer Type: CorporatelUser Seller Type: Corporate/User Buyer Broker: CBRE Listing Broker: CBRE Rad Dye,SIOR Thomas Dlschmann (801)869-8018 (801)869-8002 Jeff Richards (801)869-8026 Colliers International Randall Book (248)226-1816 Patrich Jett (734)769-5002 Transaction Details ID:2633625 Sale Date: 1 2/1 71201 2(617 days on market) Sale Type: Owner/User Escrow Length: - Bldg Type: Manufacturing Sale Price: $30,600,000-Confirmed Year Built/Age: Built In 2006 Age:6 Asking Price: $38,000,000 RBA: 846,216 SF Price/SF: $36.04 Land Area: 76.49 AC(3,288,463 SF) Price/AC Land Gross: $404,013.64 Percent Leased: 100.0% Tenancy: Single Percent Improved: - Total Value Assessed: $41,749,600 In 2011 Improved Value Assessed - Land Value Assessed: - Rjftltno) Copyrighted report licensed to Ryan tic-453428. 6/2912016 10026 S Prosperity Rd -Boeing -Bingham Industrial Park SOLD 846,216 SF Class A Manufacturing Building Built in 2006(con't) Land Assessed/AC: - No.of Tenants: 1 Tenants at time of sale: The Boeing Company Legal Desc: LOT 1,RWK SUBDIVISION AMD 9208-7104 9551-9394 Parcel No: 26-11-351-003-0000 Document No: 000011539430 Transaction Notes This was the sale of the 846,216 square foot former KraftMaid manufacturing facility located at the NEC of W Old Bingham Hwy and S Prosperity Rd in the West Jordan Industrial submarket. It had been on the market for sale at$38,000,000,or$44.91 per square fool,since 3O 2011. The entire property became vacant during 10 2009,after KraftMaid closed this facility. This asset traded on 12/17/12 for $30,500,000,or$36.04 per square foot,without conditions. At the time of sale,It consisted of 810,852 square feet of industrial space and 35,364 square feet of office space. It had 47 dock dock high docks(including dock locks,electric load levelers and dock lights)and 3 drive-in doors(2 drive-In dock covered). Boeing purchased only after they were awarded a contract with the Air Force to replace their fleet of KC-135 refueling aircrafts with the Boeing NewGen Tanker. At the time of this writing,Boeing has begun modifying the facility to meet their needs. Income Expense Data Expenses -Taxes $500,606 -Operating Expenses Total Expenses $600,606 Current Industrial Information ID:1590453 Bldg Type: Manufacturing RBA: 846,216 SF Bldg Status: Built in 2008 %Leased: 100.0% Rent/SF/Yr: - Stories: 1 Bldg Vacant: 0 SF Total Avail: 0 SF Building FAR: 0.26 Warehouse Avail: 0 SF Office Avail: 0 SF CAM - Max Contig: - Zoning: M-1 Smallest Space: - Owner Type: Corporate/User Land Area: 76.49 AC Owner Occupied: Yes Lot Dimensions: - Tenancy: Single Ceiling Height: 32'0".43'0" Column Spacing: 50'w Loading Docks: 104 ext(bldg.total) Levelators: 104 ext Cross Docks: - Crane: None Drive ins: 4/10'0"w x 12'0"h(total) Const Type: Masonry Sprinklers: ESFR Rail Spots: - Rail Line: None Property Mix: Industrial 810,862 SF (95.8%) Office 35,364 SF (4.2%) Expenses: 2014 Tax @$0.74/sf Utilities: Heating-Gas,Lighting-Metal Halide Parking: 722 free Surface Spaces are available;82 free Industrial Trailer Spaces are available; Ratio of 0.95/1,000 SF Features: Fenced Lot Location Information Park Name: Bingham Industrial Park Ryan). Copyrighted report licensed to Ryan LLC-453428. 5/29/2015 ur�(. � rl I , 1 • w C ,' 1 , , ? u.. ' I r`= •. '" o to i'' If- , • i- .' ;, 't 'a. i !, ! tCe , I? a#' s 1 a r.Nlpr �t k , a t Q ds , 0 i CO t< * O ! t ₹ U v, Y q^C r g O "` re 1: i &, t. 6.Yap _ a .. r ,��, "+ z q I 4 ! , III' 14 O `t 1, �a wr° O v , II1 :r pit. N I a 3 e k i 1} b ` t, •. Lii;J ,. CC ICI i ,...t \\),....______‘.,...11 . . ' — 30 4 o •,,, 'i� b r , cw/ f�`y[r� 3¢ .° nI'- Yq. ! rx it 1 b $ �y 1 �1Qly.., inib y�'# ' ,r. P -,-f ',.i:',1::...1 •E.1 M/ f ), i It i . . ''41:*:' III; Jj1 y I ; .1 I1' , iT I / ).:‘(1,I1.,akt ,„ ; I t:i. l,..,; ; ,A f lfl !! , �g', tf * 'a i'..4.$ 't.,4', °• ',1 : ,.:,Ni\,, : I of; s a{' l a \i rr ,-,. ,k, '� 1 rY * 1 or moll i it A ,,i,,44::, • _.J 0 N • o L 0 r LL i.) v> ,O ) c•) v) " N 1! •, -- - U V in O m �i CI (n = in tu F' f i c ,n o a Z Q ' w u J )V S t .t. O g' C J L p rn m ;n ' ;i J . _ :j u 13 U U U U O V A U tJ <l j ;) m co Y J U J u- to �� ) Il. l) I_ -, !- ill ,, t'1 ,u tik, Y 04_x.. ` m, /1 < () , .. r j 11, f ' - «� , �f�, 1�.' �' I: `!' i et I ii o xce ` I 1 • ;_ Ij _r I L_11;. ill i t II 3 . __ ` I I O • I N: ,, W ,-,., ,. it- . . . it' . . il O. ooa SI, 0. tl_ O. 0 u v 4.. 4, I I 1 bra I I � I s ` 111 g s . X ��T g1i a s d r 'g ,, aB • �" r.. 7.7. _1j:i17TjE7 *.I . , ,.I. d. `' I cc1 I ll � � II I t.Viw ''. !fibas l .cI N .* > s. e,14 .1_ t ,• ,f. is $ s ke D. n. psi • L1 or r g E _ 1 r E . , 1 g g wI o, 0 O $ $ ..,,"fir .x cia O 1 _'� jr t '.' r - (� tlA I 0 _ lie • ,,i ; r' r� I 1 Jk f (1 I ,- O , - . 11 �: j' In 3 z ; I : a c> 4 i ::,,I...-.4:-:!.. r 1', ' 2 %\. f t .i ,� ��l,o , � ,t�.�). �� i' f t # z t mtsgqq a s 4 �w ?( / .., i. `jai u, cps•m a }(f ��t �. aF i Il' ' t' a o, 3 'ire 1 .—i. v{ ti f; ;.J _ is .4,E t ta qg ≥t a �l �� at 40. Y • ', �~ °4. f3 • N. I .<..t ,.. A ,„ ', • 1 . �;• • iF.tzim , {mil �° • .7,,.";•..1'....;"•i!':;::." Q9. .ik� y':',, ` 1' dz,�N??.. ° Lax "&� v7`� -•—_ t F e Z II 3740 S Signal Butte Rd -Mesa Gateway SOLD Mesa Gateway Mesa,AZ 86212 Sale on 10/31/2013 for$107,600,000($81.02/SF)-Research Complete 1,328,075 SF Class A Manufacturing Building Built In Oct 2012 Fr...1,,A �, lr,' r It :�-, I , r, -.1 li ,t : m� .... • �1.� mr Y .ryl..�f • r t{ k..-..tt. 48if ',i ,"at � ,v w 1, it 1 ,. . . .1 i & .. -or, :,/ r, Ao,L(5. r F (. # t� {1,lili... "'•..,,•• -'4, 4,,,4• . , , ,,, si .4051',"'• " ,.'� f) t � 'i" as `4 ' ual Earttr { • ,7 ' -as ,,,E,� x ,, f a:++ .s<,,c.3.l � � i' -,. I ss �4'�1wx , Buyer&Seller Contact info Recorded Buyer: Platypus Development LLC Recorded Seller: First Solar,Inc. True Buyer: Apple Inc. True Seller: First Solar,Inc. 1 Infinite Loop 350 W Washington St Cupertino,CA 95014 Tempe,AZ 85281 (408)996-1010 (602)414-9300 Buyer Type: Corporate/User Seller Type: Corporate/User Buyer Broker: No Buyer Broker on Deal Listing Broker: Cushman&Wakefield,Inc. Michael White (602)229-5824 James Wilson (602)229-5923 Transaction Details ID:2879496 Sale Date: 10/31/2013 Sale Type: OwnerlUser Escrow Length: 46 days Bldg Type: Manufacturing , Sale Price: $107,800,000-Confirmed Year Built/Age: Built In Oct 2012 Age:1 Asking Price: - RBA: 1,328,076 SF Price/SF: $81.02 Land Area: 66 AC(2,831,400 SF) Price/AC Land Gross: $1,666,384.62 Percent Leased: 46.4% Tenancy: Single Percent Improved: - Total Value Assessed: $2,624,000 In 2013 Improved Value Assessed - Land Value Assessed: $2,624,000 Land Assessed/AC: ,38 830 5 No.of Tenants: 1 Tenants at time of sale: First Solar,Inc. Financing: Down payment of$107,600,000.00(100.0%) Legal Desc: Parcel No.2,according to Minor Land Division For"First Solar"bk 1162 pg 46. Parcel No: 304-33-005F itian#) Copyrighted report licensed to Ryan Lie-453428. 5/29/2015 3740 S Signal Butte Rd -Mesa Gateway SOLD 1,328,075 SF Class A Manufacturing Building Built in Oct 2012(con't) Document No: 0962087 Transaction Notes The 1.328 million square foot former First Solar factory sold for$107.6 or$81 per square foot.The facility will be operated by GT Advanced Technologies,acting as a vendor for Apple under a$578 million agreement to supply sapphire glass components for Apple devices. The property was developed by the seller as a high-tech manufacturing plant for solar panels("a cadmium telluride PV module manufacturing factory")however the facility never became operational.725,000 square feet was never occupied.+/-80 employees were at the facility with much of the occupied space used for machinery and equipment storage. The affidavit of public record shows a price of$113,576,875.Reportedly,this includes an allocation for personal property and FF&E that were not part of the real estate price.At least a portion includes equipment that the seller had not been able to remove at time of sale and that was accounted for at close,but which will later be removed and restored to seller and taken out of the price. Current Industrial information ID:7989405 Bldg Type: Manufacturing RBA: 1,328,076 SF Bldg Status: Built In Oct 2012 %Leased: 100.0% Rent/SF/Yr: - Stories: 1 Bldg Vacant: 0 SF Total Avail: 0 SF Building FAR: 0.47 Warehouse Avail: 0 SF Office Avail: 0 SF CAM - Max Contig: - Zoning: I-1 Smallest Space: - Owner Type: CorporatelUser Land Area: 65 AC Owner Occupied: Yes Lot Dimensions: - Tenancy: Single Ceiling Height: 26'6" Column Spacing: 40'w x 40'd Loading Docks: 18 ext(bldg.total) Levelators: 18 ext Cross Docks: No Crane: 2/5 tons Drive Ins: None(total) Const Type: Reinforced Concrete Sprinklers: Wet Rail Spots: None Rail Line: None Expenses: 2012 Tax @$0.11/sf Utilities: Gas Parking: 1,224 free Surface Spaces are available Features: Fenced Lot Location Information Cross Street: Signal Butte Rd Park Name: Mesa Gateway Located: Elliot Rd&Signal Butte Rd Metro Market: Phoenix Submarket: Southeast Ind/Chandler N/Gilbert Ind County: Maricopa CBSA: Phoenix-Mesa-Glendale,AZ DMA: Phoenix,AZ liyan#). Copyrighted report licensed to Ryan LIC-453428. 5/29/2015 1720 W Kingsbury St-Caterpillar Plant SOLD Seguin,TX 78165 Sale on 10/31/2013 for$22,600,000($76.33/SF)-Research Complete 300,000 SF Class A Manufacturing Building Built In Feb 2011 gw- I h v • ti tau 1 .-7 ' k„ I, S,.3r,4 s± �. { ytt I I t,1F<rowlt H �?Pi Vii ua, ar i iv ..ri;ct Y11 io -4.,,441,44,1.4",r,4'" r4: ` , Buyer&Seller Contact Info True Buyer: ElmTree Funds True Seller: Caterpillar,Inc. Dan McEver 100 NE Adams St 8025 Forsyth Blvd Peoria,IL 61629 Clayton,MO 63105 (309)675-1000 (314)828-4200 Buyer Type: Equity Funds Seller Type: CorporatelUser Transaction Details ID:2876406 Sale Date: 10131/2013 Sate Type: Investment Escrow Length: - Bldg Type: Manufacturing Sale Price: $22,600,000-Confirmed Year Built/Age: Built in Feb 2011 Age:2 Asking Price: - RBA: 300,000 SF Price/SF: $75.33 Land Area: 27 AC(1,176,120 SF) Price/AC Land Gross: $837,037.04 Percent Leased: 100.0% Tenancy: Single Sale Conditions: Investment Triple Net No.of Tenants: 2 Tenants at time of sale: Caterpillar,Inc;Texas Power Systems/Caterpillar Inc. Financing: Down payment of$22,600,000.00(100.0%) Parcel No: 2G0011-0000-18000-0.00,2G0011-0000-26700-0.00 4,2110) Copyrighted report licensed to Ryan LLC-453428. 5/2912015 1720 W Kingsbury St-Caterpillar Plant SOLD 300,000 SF Class A Manufacturing Building Built in Feb 2011(con't) Transaction Notes This transaction represents the sale of the Caterpillar Plant located at 1720 West Kingsbury Street,Seguin,Texas 78155.The assets were constructed in February,2011 on approximately 27 acres or 1,176,120 square feet.The Corporate Center was 100%occupied at the time of acquisition.The parties involved declined to disclose a cap rate percentage. The buyers acquired the asset on October 31,2013 for the confirmed sale price of$22.6 which equates to$75 price per square foot. The parties involved declined to disclose if the property was on the market prior to acquisition(if applicable)and the escrow time period. This NNN asset fit the buyer's investment criteria. It has not been established if either side used external broker representation. This may have been an all-cash deal.At the time of publication a deed of trust was not found in public records.All parties declined to confirm or disclose any financial information le:operating expenses,GSI,NOI,etc.However,the property taxes are estimated about$60k. All of the information in this comparable report was confirmed by press release and/or obtained via public record. Additional Information will be added as it become available. Income Expense Data Expenses -Taxes $65,988 -Operating Expenses Total Expenses $66,988 Current Industrial information ID:7385646 Bldg Type: Manufacturing RBA: 300,000 SF Bldg Status: Built in Feb 2011 %Leased: 100.0% Rent/SF/Yr: - Stories: 1 Bldg Vacant: 0 SF Total Avail: 0 SF Building FAR: 0.26 Warehouse Avail: 0 SF Office Avail: 0 SF CAM - Max Conlig: - Zoning: - Smallest Space: - Owner Type: Equity Funds Land Area: 27 AC Owner Occupied: No Lot Dimensions: - Tenancy: Single Ceiling Height: - Column Spacing: - Loading Docks: 45 ext(bldg.total) Levelators: 45 ext Cross Docks: No Crane: None Drive Ins: None(total) Const Type: Masonry Sprinklers: - Rail Spots: None Rail Line: None Expenses: 2014 Tax eg$0.22/sf Features: Fenced Lot Location Information Cross Street: US 90 Metro Markel: San Antonio Submarket: Guadalupe CountylGuadalupe County County: Guadalupe CBSA: San Antonio-New Braunfels,TX DMA: San Antonio,TX Ryan) Copyrighted repot licensed to Ryan LW-453428. 5/29/2015 A.M C'onWU Us I Adcrrl,sr f,.t.limal, `a t THe NEWS YOUR WAYI lobeStileum• J � � 1 News Offs deltvere.1 NthrstErt ,/j��I "A *�� i stfilig it to ynnt,nixttt TODAY Real P.itate Is our dnntatn'. a ` Market Opinions& I Preferred j Ca i Esters Sr i Thought Ilome • •,,,, I, eI Coverage Columnists Resources i Center I Networking i Leaders I "' �''''�' You are here:Home > Daily News > St.Louis Buyer Snags 300,000-SF Logistics Facility Calpine to Buy TX Industrial:Tight Paychox, • USAA RoalCo FEATURED ,` Power Plant for Vacancies,Little Onudcaro Oet Acquires Culebra CONTENT $625M Construction Space at Network Market Stake ad. - Tech Contor Last Updated:November 4,2013 Connect N9lhts Mobile RSS St. Louis Buyer Snags 300,000-SF Logistics III # Facility By Amy WWII Sorter I San Antonio 7 Commented(0) 0 I ,)Hepr:n,i fm.i 1 Pnnt i .r.ess ht., Cz Follow this Story(?) - 'i ` 1'� M SEGUIN,TX-ElmTree Net Lease Fund it pays 822 million for the just-completed facility.The 1i�;;,})�fl;S1 . ri property is leased to FCA LLC,a 3PL for Caterpillar Inc.and near the latter's local engine assembly 1,r I 'Jet I1� �rI V' (t Q operations. 11(J 11 1 ! ) l N ►J•J49rflh9r X12,2r)11 REGISTERED All OlobeSt corn articles are archived after .frtiPit9yrl11.11 ra a inz,e.Ul- ' R I F,iV1 BE RS seven days.Register now for unlimited access Yi to all recently archived articles,as well as , have access tO ti11S thousands of searchable stories since our ``. s''> L' ''' '• a rticle and launch thirteen years ago.Registered Members also gain access to GiobeSt.InlerActive, thousands more GlobeSt.comAM/PM alerts and GlobeSt exclusives Including white papers,webinars and t,i n hr;.t. !n t r r,\ I ' videos. To activate your GlobeSt.com Registration, Register Now for FREE. Already Registered to Email Address: GlobeSt.com? Password:Forgot your passwords Need help? Log In About Our Columnist Amy Wolff Sorter brings close 1030 years of reporting and editorial experience to her role as Southwest editor for GlobeSt.com.More than a decade of that experience has been focused specifically on reporting about business and real estate trends. Contact Amy Wolff Sorter [mail Post your comments to join our HEAti'Cfft:ABE'fEAt'ES1�TE SI commentary leader board. ♦ e. a2 Natalie Dolce Comments:8 NEALI I David Freitag Comments:I i' r 4 Frank Anderson • s 3A k1 Comments:31 $ tulyt�rd Nrcitc$42S t+ 4cob"Ito. Jonathan Porter 3 centbet 40.91 M Comments:1 �.. IMP Plioontdart Iy Ottsdgto M Lj w Corrnnents:4 4,r R;•,3i:tar Reidicrl tiirtrica • Hotel Added to Goodman Commerce Plan • CBRE•s Orlando Industrial Team Adds Finance Expert • JLL:Mlllennlals Driving Big Changes In Retail • Liberty Property Trust Shifts Development Focus • Orlando Sees Highest PSF Industrial Sale of Year • Developer Looks Beyond Bakers Centre Project • Former Continental Tire HO Trades for$51M • AltPark Could Bring Thousands of Jobs to Goodyear More Headlines R 15. .fie N t R AL ESTATE Oocon hor 10.11,2013 ,,,,.„,,co rho Phoorticttq,$oottsiltlo I I Marty Bird Rau;$42rt I� u s e I Register Noy.' Olobe3t.com-Commercial Real Estate News and Property Resource DEDICATED MARKET COVERAGE EVENTS& OPINIONS REGISTER ISION.IN If.' EDITIONS Noilheast NETWORKING Building Opportunity MOBILE tldt! 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Construction g Mullifarn4 THOUGHT LEADERS REPRINTS Hotels Environmental Allen Malkins Strident Housing Services Argus Flnanc!alServices g ALM REAL ESTATE healthcare Auction.com MEDIA GROUP Legal Services Real Estate Service Providers Marcus R Millichap Media Planner Net Lease List Your Company Moss Adams Real Estate Forum Partner Engineering GloheSl corn 8 Science ReatShare Conferences Preferred Resources (i' About AIM I Customer SupportAll ,.ALM Copyright 0 2013 ALM Media Properties.LLC.All rights reserved. /�+1� 5880 W State Road 28 SOLD Tipton,IN 46072 Safe on 12/21/2012 for$27,900,000($35.70/SF)-Research Complete 781,500 SF Class B Manufacturing Building Built In 2010 Olitte ee massimi Ri Ies 4 i `w-+ ".. 4111111•11.80 t A1/29 `11 Low nummummimmi , ♦L t ;y'„ Q,,i jC7ow; 0.. - C1tV1r`Sy trtJ C Buyer&Seller Contact Info Recorded Buyer: - Recorded Seller: 5860 Tipton LLC True Buyer: FCA US,LLC True Seller: The W.W.Reynolds Companies,Inc. Dieter Zetsche Jeff Wingert 1000 Chrysler Dr 1919 14th St Auburn Hills,MI 48326 Boulder,CO 80302 (248)512-2950 (303)442-8687 Buyer Type: Corporate/User Seller Type: Developer/Owner-RGNL Buyer Broker: No Buyer Broker on Deal Listing Broker: DTZ Patrick Lindley SIOR (317)639-0457 Transaction Details ID:2831848 Sale Date: 1212112012(168 days on market) Sale Type: Owner/User Escrow Length: - Bldg Type: Manufacturing Sale Price: 627,900,000-Confirmed Year Built/Age: Built in 2010 Age:2 Asking Price: $39,500,000 RBA: 781,500 SF Price/SF: $36.70 Land Area: 106 AC(4,617,360 SF) Price/AC Land Gross: $263,207.55 Percent Leased: 0.0% Tenancy: Single Percent Improved: 90.8% Total Value Assessed: $32,997,100 In 2011 Improved Value Assessed $29,970,500 Land Value Assessed: $3,026,600 Land Assessed/AC: $28,662 Financing: Down payment of$27,900,000.00(100.0%) Parcel No: 80-11.07-300-008.000-001 Sale History: Sold for$27,900,000($35.70/SF)on 12/21/2012 Sold for$26,000,000($31.99/SF)on 1 211 6/2 01 0 Ryan) Copyrighted report licensed to Ryan LLC-453428. 6129/2015 5880 W State Road 28 SOLD 781,600 SF Class B Manufacturing Building Built in 2010(con't) Transaction Notes This is the sale of the manufacturing facility located at 5880 W Sate Road 28 in Tipton, IN that was sold for$27,900,000 or for$35.70-per- sf. A contact reported the sales price to be$28,000,000,however the public records show a price of$27,900,000. The contact could not explain the difference between the two numbers. Chrysler will use this building as their new plant that will make duel-clutch transmissions. It is not known when they are going to be physically moving into the property. As part of this deal they will be getting a 10-year tax abatement from the County that will total$2.5M. Chrysler will invest S162M into the property and it will create approximately 850 new Jobs. This property wasgoing to be home to Abound Solar in 2010,however they went bankrupt and never moved Into the building. This property 9 was on the market starting in July 2012 and was In escrow for about 30 days. It was sold 100%vacant at time of sale. This was an all-cash deal. Income Expense Data Expenses -Taxes $473,084 -Operating Expenses Total Expenses $473,084 Current Industrial Information ID:7215273 Bldg Type: Manufacturing RBA: 781,600 SF Bldg Status: Built In 2010 %Leased: 100.0% Rent/SF/Yr: - Stories: 1 Bldg Vacant: 0 SF Total Avail: 0 SF Building FAR: 0.17 Warehouse Avail: 0 SF Office Avail: 0 SF CAM - Max Contig: - Zoning: I-1,Tipton Smallest Space: - Type: Corporate/User alles Owner orporatel er Land Area: 106 AC Owner Occupied: Yes Lot Dimensions: - Tenancy: Single Ceiling Height: 20'0"-35'0" Column Spacing: - Loading Docks: 14 ext(bldg.total) Levelators: - Cross Docks: No Crane: - Drive Ins: Yes(total) Const Type: - Sprinklers: - Rail Spots: None Rail Line: None Expenses: 2013 Tax @$0.48/sf Utilities: Gas,Heating,Lighting,Sewer,Water Parking: 810 free Surface Spaces are available; Ratio of 1.04/1,000 SF Location information County: Tipton CBSA: Kokomo,IN CSA: Kokomo-Peru,IN DMA: Indianapolis,IN Copyrighted report licensed to Ryan LLC•453428. 5/29/2016 17901 E 40th Ave-United Natural Foods, Inc. SOLD Aurora,CO 80011 Sale on 9/13/2013 for$48,350,000($83.70/SF)-Research Complete 653,757 SF Class A Distribution Building Built in Jun 2013 .art' d ,, $ T: } fh \ btR3. 4Fa.. t ` �♦ •, � t+R ' ~mot ,y g� • a.rsf .. ♦ st Y1. r01o'tGBy ba 'C t t w3yc1Lr5Gs Buyer&Seller Contact Info Recorded Buyer: lit Denver Dc Lac Recorded Seller: Gateway Untl True Buyer: industrial income Trust,Inc. True Seller: Pauls Real Estate Investments,LLC 518 17th St 270 St Paul St Denver,CO 80202 Denver,CO 80206 (303)645-4500 (303)371-9000 Buyer Type: Private REIT Seller Type: Developer/Owner-RGNL Buyer Broker: No Buyer Broker on Deal Listing Broker: CBRE James Bolt (720)528-6310 CBRE Jack Fraker (214)979-6300 Josh McArtor (214)979-6303 CBRE Darla Longo (909)418-2105 Transaction Details ID:2846018 Sale Date: 09/13/2013 Sale Type: investment Escrow Length: - Bldg Type: Distribution Sale Price: $46,350,000-Confirmed Year Built/Age: Built in Jun 2013 Asking Price: - RBA: 553,757 SF Price/SF: $83.70 Land Area: 37.73 AC(1,643,676 SF) Price/AC Land Gross: $1,228,348.21 Percent Leased: 100.0% Tenancy: Single Percent Improved: - Pro Forma Cap Rate: 7.22% Total Value Assessed: $2,906,410 Improved Value Assessed - Land Value Assessed: - Copynghted report licensed to Ryan tIC-453428. 6129/2016 17901 E 40th Ave-United Natural Foods, Inc. SOLD 553,757 SF Class A Distribution Building Built in Jun 2013(con't) Land Assessed/AC: - Legal Desc: Township 1821 Section 214 Block 1 Parcel 6 Lot 2 Parcel No: 1821-21-4-01-006 Document No: 0080706 Transaction Notes The 553,757,subject property traded on September 13,2013 for$46,350,000.The building is 100%occupied by a single tenant,on a 15 year lease commencing in November 2013. The projected year one net operating income is$3,348,146,deriving a pro forma cap rate of 7.22%. Information provide by a confidential source with direct knowledge of the transaction. It should be noted the confirmed price reconciles with the attached deed;however,the attached SEC Filing reflects a total purchase price of $45,894,000.The discrepancy of approximately 1%could not be reconciled with the principals involved in the transaction. Income Expense Data Expenses -Taxes $408,501 -Operating Expenses Total Expenses $408,501 Current Industrial Information ID:8920402 Bldg Type: Distribution RBA: 553,757 SF Bldg Status: Built In Jun 2013 %Leased: 100.0% Rent/SF/Yr: - Stories: 1 Bldg Vacant: 0 SF Total Avail: 0 SF Building FAR: 0.34 Warehouse Avail: 0 SF Office Avail: 0 SF CAM - Max Contig: - Zoning: M3 Smallest Space: - Owner Type: Private REIT Land Area: 37.73 AC Owner Occupied: No Lot Dimensions: - Tenancy: Single Ceiling Height: - Column Spacing: - Loading Docks: 64 ext(bldg.total) Levelators: 64 ext Cross Docks: No Crane: 1 Drive Ins: 3110'0"w x 14'0"h(total) Const Type: Steel Sprinklers: - Rail Spots: None Rail Line: None Property Mix: industrial 511,007 SF (92.3%) Office 42,750 SF (7.7%) Expenses: 2014 Tax @$2.221ef Power: 300a Parking: 120 free Surface Spaces are available;84 industrial Trailer Spaces are available; Ratio of 0.37/1,000 SF Features: Bus Line,Fenced Lot Location Information Metro Market: Denver Submarket: East I-701Montbelio Ind/SW DIAIPena Blvd Ind County: Adams CBSA: Denver-Aurora-Broomfield,CO CSA: Denver-Aurora-Boulder,CO 1:01P10 Copyrighted report licensed to Ryan LLC-453428. 5/2 912 01 6 17901 E 40th Ave-United Natural Foods, Inc. SOLD 553,757 SF Class A Distribution Building Built In Jun 2013(con't) DMA: Denver,CO-NE-WY-NV Parcel Number: 1821-21-4.01-005 Legal Description: - County: Adams Plat Map:17801 E 40th Ave t)UKI; • I I I I � I I � + ' • • ROzno){ ` I j I tltt Ave'��, Copyrighted report licensed to Ryan LLC-453428. 612 912 01 6 4455 Table Mountain Dr SOLD Golden,CO 80403 Sale on 3123/2012 for$10,000,000($29.71/SF)-Research Complete 336,606 SF Class B Warehouse Building Built in 1996 ( s d r' t814 h'1:111 f trlr 1 t ' ` $lilt r t. , t„ ' �� r � lxl ! k �... teV k �Niftt 4$ e . .44 igt r hlkyoso ;74" x rr Virtual Ears) go. . •Min tM7 cn, f d Mickr, Buyer&Seller Contact info Recorded Buyer: CoorsTek,Inc. Recorded Seller: Graphic Packaging Holding Company True Buyer: CoorsTek,Inc. True Seller: Graphic Packaging Holding Company Harrison Hartman Philip Gemlnder 16000 Table Mountain Pky 814 Livingston Ct SE Golden,CO 80403 Marietta,GA 30067 (303)278-4000 (770)499-4800 Buyer Type: Corporate/User Seller Type: Corporate/User Buyer Broker: No Buyer Broker on Deal Listing Broker: Cushman&Wakefield of Colorado Steve Hager (303)813-6446 Matthew Trone (303)813-6426 Transaction Details ID:2295399 Sale Date: 03123/2012(517 days on market) Sale Type: Owner/User Escrow Length: 90 days Bldg Type: Warehouse Sale Price: $10,000,000-Confirmed Year Built/Age: Built In 1996 Age:16 Asking Price: $18,600,000 RBA: 336,606 SF Price/SF: $29.71 Land Area: 14.49 AC(631,089 SF) Price/AC Land Gross: $890,236.92 Percent Leased: 100.0% Tenancy: Single Percent Improved: 80.0% Sale Conditions: High Vacancy Property Total Value Assessed: $11,442,700 Improved Value Assessed $9,164,000 Land Value Assessed: $2,288,000 Land Assessed/AC: $157,925 No.of Tenants: 1 Tenants at time of sale: Graphic Packaging International,Inc. Financing: Down payment of$10,000,000.00(100.0%) 44111#) Copyrighted report licensed to Ryan LLC-453428. 5/29/2015 4455 Table Mountain Dr SOLD 336,606 SF Class B Warehouse Building Built in 1996(con'I) Legal Desc: Parcel 1A Coors Technology Center Replat A and lot 16-B Coors Technology Center Replat A exemption survey No.13 Amendment No.1 Parcel No: 30-242-01-027, 30-242-02-026 Document No: 0032238 Transaction Notes The sales price was confirmed by a reliable source.The subject properly was listed on the market at$18.5 million,and sold for$10 million. The property was highly vacant,since the seller had vacated most of the property at the time of sale. The motivation for the seller was they had relocated their manufacturing operations,therefore,are relocating their headquarters to another location.However,some employees that are in the non-manufacturing sector are still located at the property and will remain there until a decision is made to relocate them as well. The motivation for the buyer was to purchase the property to operate their business as an owner/user;however,it is unknown at this time how much space they will occupy.It is expected to be a large portion,if not all,of the building. Current Industrial Information ID:731050 Bldg Type: Warehouse RBA: 336,606 SF Bldg Status: Built in 1996 %Leased: 100.0% Rent/SF/Yr: - Stories: 2 Bldg Vacant: 0 SF Total Avail: 0 SF Building FAR: 0.63 Warehouse Avail: 0 SF Office Avail: 0 SF CAM - Max Contig: - Zoning: PD Smallest Space: - Owner Type: Corporate/User Land Area: 14.49 AC Owner Occupied: Yes Lot Dimensions: - Tenancy: Single Ceiling Height: 22'0"-24'0" Column Spacing: 40'w x 40'd Loading Docks: 8 ext(bldg.total) Levelators: 8 ext Cross Docks: Yes Crane: 215-16 tons Drive Ins: 3/12'0"w x 16'0"h(total) Const Type: Reinforced Concrete Sprinklers: ESFR Rail Spots: 6 ext Rail Line: Burlington Northern Santa Fe Property Mix: Office 46,092 SF (13.7%) Expenses: 2011 Tax @$0.93/sf Power: 2000-4000a1120-480v 3p Utilities: Gas-Natural,Heating-Gas,Lighting-Metal Halide,Sewer,Water Parking: 216 free Surface Spaces are available; Ratio of 3.00/1,000 SF Location information Metro Market: Denver Submarket: West Denver IndlWest Denver Ind County: Jefferson CBSA: Denver-Aurora-Broomfield,CO CSA: Denver-Aurora-Boulder,CO DMA: Denver,CO-NE-WY-NV Copyrighted report Ccensed to Ryan LLC-453428. 5/29/2016 4455 Table Mountain Dr SOLD 336,606 SF Class B Warehouse Building Built In 1996(con't) Parcel Number: 30-242-01-027,30-242-02.026 Legal Description: - County: Jefferson Plat Map:4455 Table Mountain Dr / , / / / �/ r I ., . . , , , , ., / .., /.. ...., ,...,..::: ... .,,I .,. . ...7 , „ i i /i/ :.i \ ..... . / . / . • / \ .../ ..„„,, , / • ,/ , ..„ .„ . . ... . .. . / „. ,„ .., ,... :, , ./ ,,... :,,s, ., , .. ,sr / / / , ' � / 4 ' 1 / V:% 1/ ' '..' / ,.. 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' j / ,., , I / / / f. itiano) Copyrighted report licensed to Ryan LW-453428. 5/29/2016 16200 Table Mountain Pky -Coors Technology Center SOLD Coors Technology Center Golden,CO 80403 Sate on 2/27/2013 for$8,600,000($37.80/SF)-Research Complete 227,500 SF Class B Manufacturing Building Built in Mar 1998 4 dr.tit/ minimimmusumim ii Li a�t ylerostitGuperaocn ct�� Buyer&Seller Contact Info Recorded Buyer: Stag Golden LLC Recorded Seller: GE Commercial Finance Business True Buyer: STAG Industrial Management,LLC True Seller: General Electric Capital Corporation Benjamin Butcher Alec Burger 1 Federal St 901 Main Ave Boston,MA 02110 Norwalk,CT 06851 (617)574-4777 (203)840-6300 Buyer Type: REIT Seller Type: Investment Manager Transaction Details ID:2696297 Sale Date: 02/27/2013 Sale Type: Investment Escrow Length: - Bldg Type: Manufacturing Sale Price: $8,600,000-Confirmed Year Built/Age: Built in Mar 1998 Age:14 Asking Price: - RBA: 227,500 SF Price/SF: $37.80 Land Area: 11.95 AC(620,542 SF) Price/AC Land Gross: $719,665.27 Percent Leased: 100.0% Tenancy: Multi Percent Improved: 80.0% Pro Forma Cap Rate: 13.80% Total Value Assessed: $2,320,870 in 2012 Improved Value Assessed $1,866,580 Land Value Assessed: $464,290 Land Assessed/AC: $38,862 No.of Tenants: 1 Tenants at time of sale: Rocky Mountain Bottle Company Parcel No: 30-242-02-020 Document No: 0026160 Sale History: Sold for$8,600,000($37.801SF)on 2127/2013 Sold for$9,782,600($43.00/SF)on 3/7/2007 Sold on 9/30/1999 Rjgan#) Copyrighted report licensed to Ryan LLC-453428. 5129/2015 16200 Table Mountain Pky-Coors Technology Center SOLD 227,500 SF Class B Manufacturing Building Built in Mar 1998(con't) Transaction Notes On the 27th of February 2013,16200 Table Mountain Parkway in the Coors Technology Center in Golden,Colorado 80403 was sold for $8.8 million,or approximatiey$37.80 per square fool.The property was purchased 100%occupied.A source deemed reliable reported Yr.1 NOI of$1,186,800.That translates to an initial yield of 13.80%. The buyer issued a press release confirming only that this building was acquired. Information from this comp was confirmed using the public record. Income Expense Data Expenses -Taxes $219,606 -Operating Expenses Total Expenses $219,605 Current Industrial Information ID:398734 Bldg Type: Manufacturing RBA: 227,500 SF Bldg Status: Built in Mar 1998 %Leased: 100.0% Rent/SF/Yr: - Stories: 1 Bldg Vacant: 0 SF Total Avail: 0 SF Building FAR: 0.44 Warehouse Avail: 0 SF Office Avail: 0 SF CAM - Max Contig: - Zoning: PD Smallest Space: - Owner Type: REIT Land Area: 11.96 AC Owner Occupied: No Lot Dimensions: - Tenancy: Single Ceiling Height: 32'0" Column Spacing: 60'w x 60'd Loading Docks: 12 ext(bldg.total) Levelators: 8 ext Cross Docks: No Crane: None Drive Ins: 1/12'0"w x 16'0"h(total) Consl Type: Reinforced Concrete Sprinklers: ESFR Rail Spots: None Rail Line: None Property Mix: Industrial 220,132 SF (96.8%) Office 7,000 SF (3.1%) Expenses: 2013 Tax®$0.97/sf;2011 Est Ops @$0.59/sf Power: 2000a/480v 3p Utilities: Heating-Gas Parking: 47 free Surface Spaces are available; Ratio of 0.20/1,000 SF Location Information Park Name: Coors Technology Center Located: SEC Table Mountain Pky&Technology Dr Metro Market: Denver Submarket: West Denver indlWest Denver Ind County: Jefferson CBSA: Denver-Aurora-Broomfield,CO CSA: Denver-Aurora-Boulder,CO DMA: Denver,CO-NE-WY-NV Map(Page): Pierson Graphics Corp 14-O Ryorm#) Copyrighted report licensed to Ryan LLC•453428. 612 912 01 5 16200 Table Mountain Pky -Coors Technology Center SOLD 227,500 SF Class B Manufacturing Building Built in Mar 1998(con'l) Parcel Number: 30-242-02-020 Legal Description: Lot 23A Coors Technology Center Replat A Exemp Survey#10 Golden County: Jefferson Plat Map:18200 Table Mountain Pky N'o•, • . . .. t'rn ,.•.. n•,..r,. / \ ... , • / . . . 7 . \t 4, I ;2 / , d i 1 n;t•n \\‘;'.% , • yt/ 1 \\\\\ r‘1 l........._„.....„/ j''' i 'i WO • i \ ' l li, . .!� ( k i: (,: 1st;�t d f• • ;1 I. 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