complex commercial properties
RK&K is serving as the prime right-of-way (ROW) consultant providing easement acquisition services for Hampton Roads Sanitation District (HRSD). This project will replace and upgrade the Jefferson Avenue Interceptor Force Main (IFM) Phase III (JR011730). The project involves replacement of approximately 7,000 LF of 12-, 14- and 16-inch ductile, and cast-iron force main with new 30-inch force main along Jefferson Avenue from the intersection of Oyster Point Road to the Patrick Henry Jumper. Services include review of title commitments, real estate appraisals, negotiation and acquisition services, closing coordination, project management, and project update and tracking for 13 complex commercial properties which include several large retail stores, a shopping mall, an apartment complex, a homeowner’s association, and an airport that requires FAA approval.
Reviewed 13 commercial title commitments. Title reports consist of 60-year “root” title abstract reports inclusive of all documents and exceptions, chain of title, and complete legal description. Information regarding taxes, liens, litigation, easements, leases/assignments, and bankruptcies are also considered in the title report research. The RK&K Team reviews each title to verify ownership, reviews existing encumbrances and their effect on the area of acquisition.
Real Estate Appraisals
Reviewed complex commercial appraisals for 13 properties. Worked with HRSD to determine Just Compensation. Reviewed appraisals with property owners and use for negotiations.
Negotiations for 13 commercial parcels are based upon approved appraisals. Preparing offer packages in accordance with HRSD standards. Negotiations consist of meetings with property owners and follow up as required, maintaining property owner contact logs and tracking matrixes, and providing weekly updates to HRSD project team.
Settlements/Closing Packages/Title Insurance
Assisting HRSD in preparing closing packages on all parcels.