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A Case Study in Business Relocation
Dawn Van Oudenhoven – WisDOT NE RegionJacob Hoagland – Asset Equipment Appraisals
September 30, 2015Chula Vista Resort, Wisconsin Dells
Steps involved in coordinating a complex business relocation move
Working with project timelines and business move schedules
Identifying Specialized Moves Use of a Furniture, Fixtures and Equipment
Appraisal (FF&E) Summary of the Move Question and Answer
Case Study Overview
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Morton Drug CompanyA Commercial Pharmacy Operation
Displacee - Business Tenant
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The business occupied 5 business suites combined as one unit within an office complex in Menasha, WI
Total Floor Space = 11,880 SF Total Monthly Rent = $9,900.00
plus utilities Employ approximately 100
employees Provide pharmaceutical services
within a 100 mile radius of the Fox Valley to assisted living facilities and nursing homes
Subject Site
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Getting Started Understand the project
schedule and real estate timelines
Early coordination efforts with central office staff
Getting the business owner involved
Gain knowledge on the business your relocating
Interview the displacee as soon as possible Confirm if the displaced business owns or leases
What items are considered real estate improvements and included in the acquisition?
Are there tenant owned fixtures or equipment? Will they be acquired or moved?
Learn how the business operates and understand the needs of the business to accomplish the move
Discuss any complex issues with central office staff after the interview
The Relocation Interview
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Move Expense and Re-Establishment Worksheets
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Work with the displacee to begin preparing a basic inventory list Draft a basic floor plan to reference Create an itemized list of personal property Take photos to document the inventory Share the inventory list with the displacee to make
adjustments as needed Categorize items that may require a specific type
of move
Begin the Initial Inventory
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Morton Drug Floor Plan
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Basic Inventory List
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Specialized Move Inventory Lists
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Label photos by location based on the floor plan provided or by a specific inventory item
Inventory Photos
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STE 704 Private office # 3 STE 708 Pharmacy
Generator TCGRx Machine
Furniture, Fixtures and Equipment (FF&E) Appraiser
Jacob HoaglandAsset Equipment Appraisals & Brokerage1509 Rapids Drive, Suite 13, Racine, WI 53404Phone: (888) 897-9690Email: [email protected]: www.AeabResults.com
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Furniture, Fixtures and Equipment (FF&E) Appraisal
What is an FF&E appraisal?
An appraisal report that summarizes the replacement cost new, fair market values
and forced liquidation values on certain furniture, fixtures and equipment located
at a particular business.
Schedule an inspection date with the appraiser
Discuss the timeframe necessary for the appraisal to be completed with the appraiser in advance
Confirm what the appraiser may need available at the site on the day of the inspection
What items are not necessary for the appraiser to complete an
FF&E appraisal report?
Preparing for an FF&E Appraisal Inspection
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FF&E Appraisal ReportDetermination of Value
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Recommended in Business Relocation Assist the agency in determining what specific
items are included in the acquisition vs. the relocation move
Helpful in preparing your final inventory and categorizing specific move items
Utilized when calculating Actual Direct Loss of Tangible Property
FF&E Appraisal Report & Business Relocation
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Tour the replacement site Confirm the final inventory with the displacee
What will the displacee move? What will contractors or commercial movers move?
Determine if specialists are required for the moves Electricians Plumbers IT Technicians
Obtain move bids
Coordinating the Move to the Replacement Site
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Commercial Move Self-Move Substitute Personal
Property Specialized Moves
Lower of two bids Actual costs incurred
Morton Drug Company MoveFriday July 31, 2015 – Sunday August 2, 2015
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General MoveOffice Furniture, Supplies and Equipment
Actual Move Obtain 2 independent move
bids Approve lower of the 2 bids Reimbursement is based off
actual costs not to exceed the lower of the 2 bids
Self-Move Obtain 2 independent move
bids Approve lower of the 2 bids Displacee signs a self-move
agreement Reimbursement is based off
the lower of the two bids
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Self-MovePharmaceutical Inventory
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Self-MovePill Counter
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Substitute Personal PropertyFire/Intrusion System, HD Camera System and Access Control System
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Specialized MoveGenerator
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Specialized MoveTCGRx Machine
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Target Move Date AchievedMorton Drug operating from replacement site August 3, 2015
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Key to a Successful Relocation
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