Western Property Advisors
1800 Century Park East, #600
Los Angeles, CA 90067
d. (310) 308-4533
Century City I Chair
Mr. Glasser is a commercial real estate valuation professional in California. His firm, Western Property Advisors, Inc., specializes in conducting property tax appeals on behalf of property owners and tenants. Offices are in Los Angeles and San Francisco, and the firm has resources to execute and administer appeals for national portfolios.
He has completed over 1,000 property tax appeals in 24 counties during the past 25 years, for commercial property, with a strong track record. He holds the MAI designation, which is the premier designation in real estate valuation, as well as a broker's license. Property types include office, industrial, retail, residential, hotel, mixed use property, special purpose property, tourist attractions, power plants, and land.
He has personally dealt with the largest taxpayer in two counties, with values ranging to over $300 million for a single asset. For years he conducted the tax appeals for portfolios such as The Vons Companies in southern California, Safeway in northern California, and for the US Postal Service. A recent result for a power plant was a reduction by $1 billion dollars for 1 asset.
Clients have included Seagate Properties, Prentiss Properties, SRM Associates, Great West Life Insurance, Macquarie Group, Pacific Coast Capital Partners, Ford Motor Land Development, Johnson Wax Development, Lend Lease, Chanel Inc., Wilkes Bashford, CBRE Property Mgt., Cushman & Wakefield Property Mgt, Wells Fargo Bank, City National Bank, Public Policy Institute, US Postal Service (leased property), Safeway, The Vons Companies, Zacky Farms, Pilkington North America, & Hotels branded Hilton, Hyatt, Marriott, Embassy Suites, Holiday Inn, Crowne Plaza, Best Western, Ramada, Hampton Inn, Hawthorne Suites, Homewood Suites, Staybridge, & Days Inn.
Assessors' Offices fight appeals. Many are denied, including property which warrants reduction. This is a time consuming process and one which is not always fair in the outcome. Experience of the representative is essential. Appraisals by non-specialists often do not prevail.
He studied Urban Land Use at the University of Michigan, Ann Arbor, working part time for several real estate appraisal companies during that time. He then worked in Manufacturers Hanover Trust and Chemical Bank in New York City for several years as an appraiser, valuing primarily high-rise office buildings, hotels, and apartment buildings, using complex cash flow programs. He also authored for both banks a Midtown Manhattan Office Market Study which was extensively used. He then worked as an appraiser for many years in San Francisco for Carneghi-Bautovich & Partners and Cushman & Wakefield. This experience was followed by his leading the property tax appeal practice for over five years for Cushman & Wakefield. This was a statewide practice involving a team of professionals. Western Property Advisors, Inc. has been a statewide practice operated by Mr. Glasser for over 20 years from offices in Los Angeles and San Francisco.
CLIENTS/DONE DEAL EXAMPLES (Additional Examples shown in our website & our brochure which you may request)
*Over $10 million in savings for Broadrock Renewables, a power plant in Orange County (New Construction)
*$99 million assessment reduction for 1 year for the largest industrial building in California (now occupied by Tesla)
*Over $1 million in Savings for Madame Tussaud/Merlin Entertainment on Hollywood Blvd, Los Angeles (New constr.)
*$930,000 in Savings for Bella Terra Office Complex in Huntington Beach (Campus of 3 high rise offices +2 low rise retail)
*Over $1 million in savings for Hotel Whitcomb (459 Rooms), San Francisco (spanning a 10 year period)
*$315,000 in savings for Anaheim Marriott Suites (371 Rooms), Orange County (spanning 4 years)
*$1,400,000 for Safeway (2 year period, property spanning 10 counties, for retail, office, and industrial)
*$475,000 for Vons (2 year period, property spanning several counties, for retail, office, and industrial)
*$420,000 for Chanel building in San Francisco (spanning 14 years)
*$350,000 for Gucci building in San Francisco (spanning 5 years)
*$317,000 saved for Lend Lease on Office building in San Mateo County, Shores I & II
*$1,600,000 saved for Foster Farms, for 8 manufacturing plants, 52 ranches, spanning 3 counties, for 6 years
EVENTS WHICH MAY TRIGGER PROPERTY TAX RE-ASSESSMENT EVENTS IN CALIFORNIA
*Ownership changes & sales
*Mergers & acquisitions
*Control changes by greater than 50%
*Death of majority shareholder
*Construction & renovations
*New leases signed with terms exceeding statutory parameters
*Partnership re-structuring or buy-outs
*Loss of tenant
*Decline in the economy
Daniel Glasser, MAI, Director
WESTERN PROPERTY ADVISORS, INC.
1800 Century Park East, #600, Los Angeles, CA 90067
P (310) 308-4533 x7771, F (323) 320-4381
220 Montgomery St., #1110, San Francisco, CA 94104
P (415) 982-1134 x1616, F (415) 840-7230