Maguire Lassman, P.A., along with its team of real property experts (comprised of Appraiser Richard Dreggors, MAI; Planner Mack Cope, AICP; and Planner Edward Williams) was able to successfully navigate its client through a complete taking by FDOT of 39 acres of real property located in Orlando’s tourist district with significant frontage along both I-4 and Palm Parkway. FDOT was originally only interested in taking 7 acres (See Image #1 below). Maguire Lassman, P.A. facilitated the remaining 32 acres being appraised as soon-to-be subdivided smaller parcels (See Image #2 below) as well as the placing of those soon-to-be subdivided parcels under contract with three separate developers. Once a total taking was declared by FDOT, Maguire Lassman, P.A. utilized the previous value-adding ground work of subdividing and development to obtain a final settlement amount of $44 million for its client. In addition, through its coordination with eminent domain attorneys Prineet Sharma and Jay Small, Maguire Lassman, P.A. was able to help structure the final settlement with FDOT in such a way that assured the three developers were also well compensated for their substantial losses. For more information on this settlement and its impact on the Orlando real estate market, please see the articles published in Growth Spotter and in the Tampa Bay Business Journal.
While every eminent domain case is different and the results of this particular eminent domain case serve as no guarantee of future outcomes, Maguire Lassman, P.A. stands ready to provide the same level of service to any and all Florida property owners faced with an eminent domain taking. Feel free to visit our website or call our offices at 407.228.9522 for further information.