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The underlying issue with valuations is the appraisal review board within the appraisal system, says Rahul Patel, managing partner of Patel Gaines, a Texas-based law firm specializing in property tax issues.
The campus is located at 10200 Bellaire Blvd. in the Westchase District, just west of the intersection of Bellaire Boulevard and Sam Houston Tollway, and was built in 1979 with upgrades occurring in 2013.
Berkadia officials note the greater population of Gainesville is forecast to grow 4.6% by 2022, reaching almost 300,000 residents, and point out that approximately 35% of metro Gainesville's residents are in the prime renter age group of 18-35 years old.
When it acquired the 405,000-square foot building last year the company vowed to launch an aggressive leasing initiative once the improvements were complete.
Despite the additional costs that consumers will pay now for online merchandise, the concept and culture of e-commerce is so baked in that South Dakota v. Wayfair will not be a game changer.