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LUNZ i MASSOPUSTo REID CO ,11111 1 uu �l yV yJ,o I I �,�r�r�rllr�ir41«mmiilplVlll IV,,�I�;��I�I�i Illllill I September 10, 1993 Mr, Robert G. Greenberg President 614 Company Suite 405 Young Quinlan Building 191 South Ninth Street Minneapolis,, IVIN 55402 IN RE: 614 Company Warehouse Building 2550 North Walnut Street Roseville, Minnesota 3obw G.Lunz,CRE,MAT Dear Mr. Greenberg: Principal You have asked me to consider the impact on-the market value, if any, of the above referenced real estate due to improvements made.by the City of Roseville to the David H.Massopust. double track railroad crossing on Terminal Road. This railroad track crossing is MAI.SRA Principal located approximately .3/10 of a mile to the southeast of your property. These improvements consist primarily of installing rubberized mats as approaches to,and and Todd M.Reid in between, the rails comprising this track right-of-way. It is believed these railroad mncipw crossing improvements would be similar to those in place on County Road C where the subject rail line intersects that major local arterial. The question than to me, as a general real estate appraiser, is; "Do these public improvements add value to the above captioned real estate?" As you are avwrare, my general familiarity with the 614 Company Warehouse building stems from the first quarter of this year. Thus, since the track improvements on h Ante youth Terminal Road were made in 1992, l am not aware of the physical situation of this street as it crossed the tracks in the "Before" condition. I have, however, recently suite 1818 inspected the subject railroad crossing, as well as the 614 Company warehouse building, its environs, and the greater neighborhood. My observations and ghat I Minneapolis believe are the pertinent facts will be summarized briefly as follows: Minnescm 55415 Neic rhood-The general tenor of the immediate neighborhood and vicinity als that of a clearly defined industrial park area. This would include the presence of many warehouses and manufacturing buildings,oil tank farms,chemical and solvent production and storage p hone 612/340-1236 facilities. Major natural gas pipelines also run through the neighborhood. Street access throughout the neighborhood is very kx 6121340-1848 food with the nearby Interstate 35W and Minnesota Highways 36r 88, and 280. It is a very strong central Twin Cities location providing excellent access to all parts of the Metropolitan Area. R E A L ESTATE V A L UATI ON S E RV I C E S