The City of Mountain View – home to Google and several other high-technology firms – owns a substantial amount of land within its boundaries. It has historically leased these properties to developers and owner/users for the construction and occupancy of office buildings, R&D headquarters facilities, hotels, and the like. On occasions when it has required ground leases to be established, or contract rents periodically reset, Kidder Mathews professionals have provided appraisal and arbitration/negotiation services.
Determine market values and ground lease rental rates for unique land holdings, including sites in the city’s downtown central business district with public parking lots requiring retention as part of new development; land adjacent to the Highway 101 corridor encumbered by utility easements and affected by contamination; and multiple large parcels in the North Bayshore District that are improved with office and R&D facilities occupied by a major high-technology firm.
In each case, the City was able to either establish new ground leases with developer lessees, or to extend contracts with the noted technology company. These resulted in ongoing revenues to Mountain View exceeding $10 million per year – without the need to involve neutral arbitrators or the protracted process sometimes associated with third-party resolutions.
- Market Value Appraisals
Market Rent Appraisals