News

• Restaurants in Richmond's Fan District

December 2009 - Richmond, VA

LBA delivered market value estimates for Richmond's Curbside Cafe located at the corner of Robinson Street and Hanover Avenue. The scope of work included an analysis of rents and sales of Fan District establishments, as well as small apartment metrics. Unrelated to the Curbside valuation, LBA completed the appraisal of the 1900 Block of West Main Street comprised of Family Dollar, ABC Store, and the Martini Kitchen and Bubble Bar.

• New Kent Planned Unit Development

November 2009 - New Kent County, VA

New Kent County is home to several notable PUDs such as Patriot's Landing, Brickshire, and New Kent Vineyards. LBA delivered as-is and prospective market value estimates for a 1,450-unit age-restricted component known as Land Bay V in New Kent Vineyards. Age-restricted and age-targeted communities from Charlottesville to Williamsburg were studied in the analysis.

• Richmond International Airport Land

October 2009 - Henrico County, VA

Much (if not all) of the land with runway access at RIC is owned by the Airport Commission and leased to operators. LBA was engaged to estimate market value for a 3.6-acre parcel, to assist with negotiation of lease terms.

• Ruffin Mill Center

September 2009 - Chesterfield County, VA

Ruffin Mill Center is a phased flex development in southern Chesterfield County. Our firm delivered current and prospective market value estimates, utilizing cost, income, and sales comparison approaches.

• Biotech V

August 2009 - Richmond, VA

Lester, Barber, and Associates, Inc. completed the appraisal of one (Degremont) of the Biotech buildings for a bank client.

• Lake Monticello Strip Center

August 2009 - Fluvanna County, VA

Lester, Barber, and Associates, Inc. was engaged to estimate market value for a multi-tenant retail center (plus developed pad sites) in Fluvanna County.

• VCU Parking Lots

July 2009 - Richmond, VA

Lester, Barber, and Associates, Inc. completed the appraisals of two commercial parcels in the City of Richmond, currently utilized as surface parking lots for Virginia Commonwealth University.

• Patriot's Landing

June 2009 - New Kent County, VA

Lester, Barber, and Associates, Inc. delivered market value estimates for various commercial and residential compenents of the mixed-use development in eastern New Kent County.

• Bass Pro Shops

June 2009 - Hanover County, VA

Lester, Barber, and Associates, Inc. was engaged to establish market value estimates for the fee simple and leased fee interests in the Bass Pro Shops development on Lakeridge Parkway in Hanover County, Virginia.

• Proposed American Family Fitness

April 2009 - Chesterfield County, VA

Lester, Barber, and Associates, Inc. was engaged to appraise the current and prospective market values of the future Amercian Family Fitness facility on Iron Bridge Road. The property is the former Kroger grocery store.

• Glen Marye Shopping Center

March 2009 - Louisa County, VA

Lester, Barber, and Associates, Inc. performed the retrospective market value appraisal for a 67,000 square foot neighborhood shopping center in the Town of Louisa for tax purposes.

• Retrospective Land Valuation

March 2009 - Henrico County, VA

Lester, Barber, and Associates, Inc. was to appraise the retrospective market value of several commercial parcels in the West End, delivering market value estimates for each year between 2002-2009.

• Auto Service Facility

March 2009 - Hanover County, VA

Lester, Barber, and Associates, Inc. performed the market value appraisal of an auto service facility in the Hanover Industrial Air Park.

• Biotech / R&D

March 2009 - Richmond, VA

Lester, Barber, and Associates, Inc. completed the valuation of a Biotech building in the Richmond Biotech Park.

• Rent Study

March 2009 - Richmond, VA

Lester, Barber, and Associates, Inc. was engaged to determine the market rental terms for a 40,000 square foot office/warehouse facility in the Dabney/Westwood area of the City of Richmond.

• Proposed Medical Office Development

February 2009 - Henrico County, VA

Lester, Barber, and Associates, Inc. completed the appraisal of a proposed 40,000 square foot medical office development in the West End.

• Multi-tenant Flex Building

January 2009 - Colonial Heights, VA

Lester, Barber, and Associates, Inc. completed the appraisal of an 81,000 square foot flex building near Southpark Mall.

• Two Medical Office Buildings

January 2009 - Petersburg, VA

Lester, Barber, and Associates, Inc. completed the appraisal of two medical office buildings. The leased fee valuation assignment included all three approaches to value.

• 8 Office Pad Sites

December 2008 - Chesterfield County, VA

Lester, Barber, and Associates, Inc. completed the appraisal of eight office pad sites in Chesterfield County.

• Vacant Industrial Land

November 2008 - New Kent County, VA

Lester, Barber, and Associates, Inc. completed the appraisal of a 220-acre vacant industrial tract in southern New Kent County. A thorough highest and best use analysis was required.

• Future Henrico County School Site

October 2008 - Henrico County, VA

Lester, Barber, and Associates, Inc. completed the appraisal of 35 acres slated for acquisition by Henrico County for development/expansion of school facilities.

• Special-use Property - Sports Facility

October 2008 - Richmond, VA

Lester, Barber, and Associates, Inc. completed the appraisal of a sports facility which includes an inflatable dome and indoor recreation facilities.

• Funeral Homes

September 2008 - Henrico County and Williamsburg, VA

Lester, Barber, and Associates, Inc. completed the appraisal of two established funeral homes.

• Carytown Commercial Property

August 2008 - Richmond, VA

Lester, Barber, and Associates, Inc. completed the appraisal of an office-service building in Carytown.

• Bulk storage

July 2008 - Richmond, VA

Lester, Barber, and Associates, Inc. completed the appraisal of a bulk storage facility on Deepwater Terminal Road.

• Investment-grade Industrial Buidings

July 2008 - Hanover County, VA

Lester, Barber, and Associates, Inc. completed the appraisal of two large industrial buildings in the Northlake Business Park.

• Multi-tenant Retail and Flex Buildings

May 2008 - Hanover County, VA

Lester, Barber, and Associates, Inc. completed the appraisal of a 6-building, 95,000 square foot mixed-use development in Old Mechanicsville. Discounted cash flow analyses were performed on the retail and light industrial space.

• Richmond International Raceway Property

April 2008 - Henrico County, VA

Lester, Barber, and Associates, Inc. completed the appraisal of an industrial property adjacent to RIR in Henrico County; consideration was given to surplus vs. excess land and subdivision feasibility.

• Former Innsbrook Library

March 2008 - Henrico County, VA

Lester, Barber, and Associates, Inc. completed the appraisal of the former Innsbrook Library, with consideration given to likely adaptive reuse.

• National Investment-grade Industrial Building

March 2008 - Hanover County, VA

Lester, Barber, and Associates, Inc. completed the appraisal of a national investment-grade multi-tenant distribution facility in Hanover County.

• Short Pump Retail Building

Feburary 2008 - Henrico County, VA

Lester, Barber, and Associates, Inc. completed the appraisal of a freestanding retail building on West Broad Street in the Short Pump area.

• Village of Chester

December 2007 - Chesterfield County, VA

Lester, Barber, and Associates, Inc. completed the appraisal of a multi-property estate valuation which included office, retail, and multi-family property, as well as industrial development acreage.

• Northside CVS

October 2007 - Henrico County, VA

Lester, Barber, and Associates, Inc. completed the appraisal of a CVS/pharmacy on Richmond's Northside. The valuation of the build-to-suit required analyzing numerous sales of national drug stores, as well as a discounted cash flow (DCF).

• Shockoe Bottom Commercial Site

September 2007 - City of Richmond, VA

Lester, Barber, and Associates, Inc. completed the appraisal of a commercial infill site in Shockoe Bottom. The site was purchased for development with a mixed-use office/retail development. That appraisal assignment required an analyis of numerous vacant land sales in the City of Richmond, as well as a development approach to support the sales conclusions.

• Long-term Ground Lease

August 2007 - Henrico, VA

Lester, Barber, and Associates, Inc. has completed the valuation of a 99-year ground lease in Henrico County. The land is improved with a Class A office building.

• Apartment Building Portfolio

July 2007 - City of Richmond, VA

Lester, Barber, and Associates, Inc. recently completed the appraisal of 11 apartment buildings in the City of Richmond.

• Riverfront Condominiums and Marina

June 2007 - Chesterfield County, VA

Lester, Barber, and Associates, Inc. recently completed the appraisal of 108 acres proposed for development with 300 townhomes and a commercial marina on the James River. The scope of work included a market study and numerous interviews with developers and builders in the Richmond MSA.

• Land Valuation for a Proposed School

May 2007 - Henrico County, VA

Lester, Barber, and Associates, Inc. recently completed the appraisal of 205 acres on Kain Road.

• Court Testimony

March 2007- Richmond, VA

Lester, Barber, and Associates, Inc. principal Bill Barber, MAI, provided expert witness testimony on behalf of one of the Commonwealth's Universities.

• Heavy Manufacturing Valuations

February 2007 - Henrico County, VA

Lester, Barber, and Associates, Inc. is pleased to announce the completion of two industrial appraisal assignments in Henrico County. One valuation required the Sales and Cost Approaches for a large-scale manufacturing facility owned by an S&P 500 company. LBA also completed the valuation of a processing and distribution factility operated by one of Richmond's beer distributors.

• 6 Acres of Commercial Land

1/8/07 - Goochland County, VA

Lester, Barber, and Associates, Inc. recently completed the appraisal of 6 acres of land in the Courthouse Village area of Goochland County. Deemed "excess land", a thorough highest and best use analysis was performed.

• Office Building Appraisal

12/8/06 - Henrico County, VA

Lester, Barber, and Associates, Inc. completes the appraisal of a 26,000 square foot office building in the near West End of Henrico County.

• Office Condominium Development

11/15/06 - Chesterfield County, VA

Lester, Barber, and Associates, Inc. recently completed the appraisal of a proposed office condominium development in southeast Chesterfield County near Hopewell. Upon completion, the project will include 25,000 square feet of office space on 3.28 acres.

• 4,995-Acre Auction in Fluvanna County

11/2/06 - Albemarle County, VA

Woltz & Associates auctioned 4,995 acres of rural timber, recreational, and possible development land throughout Fluvanna County in 41 tracts. The auction began at approximately 6:30pm on Thursday, and concluded at 10:30pm. Notable winning bids included 448 acres in the Kents Store area for approximately $880,000, and 1,180 acres to one bidder for $2,130,000. By 6pm on Friday, Woltz &Associates had notifed all winning bidders that the seller (New Forestry, LLC in Atlanta, GA), had rejected all bids, thereby retaining all of their property.

• New Office Location

10|20|06 - Midlothian, VA

Lester, Barber, and Associates, Inc., is pleased to announce its new Richmond location which has relocated to:
14310 Southwell Terrace
Midlothian, Virginia 23113

Complete contact information for both the Richmond and Charlottesville offices is located on the "Contact" page.

• Louisa County land

9|6|06 - Louisa County, VA

Lester, Barber, and Associates, Inc., completes the appraisal of six parcels totaling over 800 acres throughout Louisa County. The assignment included an analysis of current supply and demand for single-family residential lots in rural Louisa, as well as around Lake Anna, as well as current market demand for recreational acreage tracts.

• Proposed Biotech facility

8|21|06 - City of Richmond, VA

Lester, Barber, and Associates, Inc., completes the appraisal of a 2-acre parcel in Richmond's Biotech area which is proposed for development with a 3-story, 80,000 square foot research facility, and a 4-story parking deck. The scope of the assignment included consideration of demolition costs for the existing improvements, current construction costs for state of the art laboratory/office space and parking facilities, and analysis of current rent levels in the Biotech sub-market.

• Office Condominium valuation

7|12|06 - Henrico County, VA

Lester, Barber, and Associates, Inc., completes the appraisal of Phase II of the Westerre Commons office condominium development in the West End of Henrico County. The appraisal assignment included an "as is" land valuation, and a prospective market value for 50,000 square feet of office condominium space. Instrumental in the valuation was consideration of current construction costs, and competitive supply.

• Brownfield valuation

6|20|06 - Richmond MSA, VA

Lester, Barber, and Associates, Inc., completes the appraisal of an EPA Superfund site in the Richmond MSA. Valuation techniques included estimating the hypothetical "clean" value of the land using comparable sales, then estimating the environmental stigma, or perceived risk resulting from the contamination. The appraiser relied upon case studies, sales of environmentally impacted property, rent levels of adjacent properties, and interviews with developers/investors familiar with contaminated properties to estimate any environmental stigma.

• Former Tobacco Storage Facility on 63.7 Acres

5|22|06 - Richmond MSA, VA

Lester, Barber, and Associates, Inc., completes the appraisal of 1,125,000 square feet of storage warehouse space on Commerce Road in the City of Richmond. The analysis involved the "as is" configuration of the property, i.e., 44 storage warehouses and associated office space, as well as the valuation of the leased fee interest for a portion of the property.

• Freestanding Restaurant

5|16|06 - Waynesboro, VA

Lester, Barber, and Associates, Inc., completes the appraisal of a proposed steakhouse near an I-64 interchange. The valuation included analysis of an existing ground lease, comparison sales and rents of large, family dining restaurants, and construction cost estimates.

• Mobile Home Park

5|10|06 - Chesterfield County, VA

Lester, Barber, and Associates, Inc., completes the appraisal of an investment-grade mobile home development in Chesterfield County.

• Proposed Business Park

5|8|06 - Powhatan County, VA

Lester, Barber, and Associates, Inc., completes the appraisal of a 10-lot, mixed-use business park in eastern Powhatan County. The development will be a mixture of office and retail uses.

• Proposed Food Lion Shopping Center

4|12|06 - Hanover County, VA

Lester, Barber, and Associates, Inc., completes the appraisal of a neighborhood shopping center which is currently under construction and which will be anchored by a Food Lion grocery store.

• Historic Estate

4\1\06 - Louisa County, Virginia

Lester, Barber, and Associates, Inc., completes the appraisal of an historic farm/estate in the Green Springs District of Louisa County. The assignment included valuation of the unrenovated manor house and numerous farm buildings in addition to the 284 acres of rolling farmland.

• Veterinary Clinics

3|15|06 - Henrico County, VA

Lester, Barber, and Associates, Inc., completes the appraisal of 2 veterinary clinics, one proposed and one existing, in the West End of Henrico County.

• Single-family Residential Subdivisions

3|8|06 - Augusta County, VA

Lester, Barber, and Associates, Inc., completes the appraisal of 2 proposed single-family residential subdivisions in Fishersville and Crimora.

• Rural Mixed-Use Community

2|20|06 - Fluvanna County, VA

Lester, Barber, and Associates, Inc., completes the appraisal of an 111-lot single-family residential subdivision, plus 13 acres of commercial land (100,000 square feet of approved commercial space) outside of Lake Monticello.

• Partial Interest in a Parking Garage

  2|1|06 - Charlottesville, VA

  Lester, Barber, and Associates, Inc., completes the appraisal of a partial condominium interest in a 5-story parking garage.

• Auto Dealership valuations

  1|19|06 - Powhatan County, VA

  Lester, Barber, and Associates, Inc., completes the appraisal of two auto dealerships.

• Proposed Medical Office Condominium Development

  1|17|06 - Hanover County, VA

  Lester, Barber, and Associates, Inc., delivers current and prospective value estimates for a 4-building, medical office condominium development in Hanover County, Virginia.

• High-Density, Mixed-Use Land Appraisal

12|19|05 - Charlottesville, VA

Lester, Barber, and Associates, Inc., completes the appraisal of a high-density, residential/commercial parcel of unimproved land in the City of Charlottesville.

• Existing Neighborhood Shopping Center Valuation

12|12|05 - Henrico County, VA

Lester, Barber, and Associates, Inc., completes the appraisal of a grocery-anchored shopping center in Henrico County's West End.

• Proposed Farmette Subdivision Appraisal

12|04|05 - Louisa County, VA

Lester, Barber, and Associates, Inc., completes the appraisal of a proposed farmette/estate subdivision in the Historic Green Springs District of Louisa County.

• Sports facility valuation

11|01|05 - Richmond, VA

Lester, Barber, and Associates, Inc., completes the appraisal of a 100,000± square-foot swim and racquet club.

• Proposed Augusta County subdivision

10|03|05 - Augusta County, VA

Lester, Barber, and Associates, Inc., completes the appraisal of a proposed, single-family subdivision outside of the city of Waynesboro in Augusta County, Virginia. The scope of work involved a market analysis, development/cost projections, an absorption rate estimate, and lot prices for 35 upscale residential lots.

• Proposed child care facility

  09|21|05 - Haymarket, VA

  Lester, Barber, and Associates, Inc., completes the appraisal of a proposed, 20,000 square foot child care facility in Haymarket, Virginia. Required were current ("as is") and prospective market value estimates (upon completion of construction).

• Commercial building valuation

  07|11|05 - Charlottesville, VA

  Lester, Barber, and Associates, Inc., completes the appraisal of mixed-use (office/retail) building on Seminole Trail (U.S. Route 29).

• Expert witness testimony

  05|18|05 - Richmond, VA

  Bill Barber, MAI, testifies as an expert witness in U.S. Federal Bankruptcy Court.

• Short Pump mixed-use development

  04|22|05 - Henrico County, VA

  Lester, Barber, and Associates, Inc., completes the appraisal of 42 acres of retail and multi-family land near the Short Pump Town Center. Required were current ("as is") and prospective market value estimates (upon completion of construction).

• Fluvanna County subdivision appraisal

  03|07|05 - Fluvanna County, VA

  Lester, Barber, and Associates, Inc., completes the appraisal of two single-family subdivisions near Lake Monticello in Fluvanna County. The scope of work involved an in-depth market analysis, development/cost projections, and market-derived sell-out periods and lot prices for 84 upscale residential lots.

• Crozet mixed-use valuation

  02|25|05 - Albemarle County, VA

  Lester, Barber, and Associates, Inc., completes the appraisal of a proposed 2-building, mixed-use (retail and office) development in the community of Crozet (western Albemarle County). This assignment required an in-depth supply/demand study, projection of market rents, and a valuation of two developed pad sites.