Dawn Van Oudenhoven – WisDOT NE Region Jacob Hoagland – Asset Equipment Appraisals September 30,...

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: jacob@AeabResults.comWeb: 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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