V&A Appraises Largest (by $ amount) Retail Deal in the United States in 2012
Our Valuation & Advisory Retail practice was involved in the appraisal of the Kings Plaza Shopping Center in Brooklyn, NY. According to Real Capital Analytics, the $751 million sale of the Kings Plaza Shopping Center was the largest single asset (based on transaction amount) retail commercial sale of 2012 in the United States.
Due to their rating agency presentation, the client had an aggressive timeframe and our team was able to turn around the assignment in a little over two weeks. During the appraisal process we had the opportunity to discuss with the buyer their vision for the mall and their ideas about re-tenanting and re-merchandising.
They saw good opportunity to leverage sales and leasing based on what they had accomplished at Queens Center, recognized as one of the highest producing malls in the U.S.