The McEnery Company was engaged by the representative of a hedge fund to provide an AS IS opinion of the leased fee market value of Lakeland Commons. Lakeland Commons is a 211,637 square foot power center containing 33 total units and primarily national credit tenants located in Flowood, MS. The center was developed in 2005 and features five multi-tenant structures as well as an out-parcel restaurant on a ground lease. The scope of work included analysis of the existing leases and operating expenses as compared with competitive rental and operating data from the local market with a conclusion to a beautifully supported market capitalization sourced to market extracted capitalization on highly comparable power centers.
