HOW TO VALUE COMMERCIAL IMPROVEMENTS IN A NATIONAL PARK

The federal government contracts with private concessionaires to build and operate visitor-serving facilities at national parks. When these long-term contracts expire, there is an interesting appraisal problem: what is the current value of the concessionaire's improvements? This paper describes...

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Bibliographic Details
Published in:	Real estate issues Vol. 25; no. 4; p. 17
Main Authors:	Robinson, Maurice, Dornbusch, David, Bass, Jason, Chase, Blaine
Format:	Journal Article
Language:	English
Published:	Chicago The Counselors of Real Estate 22-12-2000 Counselors of Real Estate, The
Subjects:	Buildings and facilities Commercial real estate Innovations Methods National parks National parks and reserves Parks & recreation areas Personal property Real estate appraisal Real property State court decisions Transportation services Valuation United States > US
Online Access:	Get full text
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Summary:	The federal government contracts with private concessionaires to build and operate visitor-serving facilities at national parks. When these long-term contracts expire, there is an interesting appraisal problem: what is the current value of the concessionaire's improvements? This paper describes the innovative methodology used by two CREs in a recent dispute, in which they valued not only the concessionaire's improvements, but the contract and the land in the park itself.
ISSN:	0146-0595