Real Estate Journal —Appraisal — April 15 - 28, 2016 — 9A
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A ppraisal
By Carlo Batts, MAI, Rittenhouse Appraisals Use the best tools for superior results
ver the past decade, the use of geographic information systems (GIS) in com- mercial real es tat e has g r o w n b y l e a p s a n d bounds. To- day, retail- ers, can use GIS to de- cide where to open new stores by analyz- O Carlo Batts Molinari honored as ‘Volunteer of Distinction’ CHICAGO, IL — Edward Molinari, SRA , of Sewell, NJ, was recognized as the Appraisal Institute ’s April “Volunteer of Distinction” for Region VI. The Appraisal Institute is the nation’s largest profes- sional association of real estate appraisers; Region VI con- sists of Delaware, Maryland, New Jersey, Pennsylvania and Washington, DC. Molinari is a member of the Southern New Jersey Chapter. “Ed Molinari is an outstand- ing example of the high stan- dards held by Appraisal In- stitute professionals,” said Appraisal Institute president Scott Robinson, MAI, SRA, AI-GRS . “We feel fortunate to have volunteers like Ed, who are willing to devote their time and talent to helping their com- munities and advancing the valuation profession.” Since 2015, Molinari has served the Southern New Jer- sey Chapter as president, a position he also held in 2002. From 2009-14, he served as alternate regional represen- tative. Molinari was chapter secretary and chair of the Candidate Guidance Commit- tee in 2014; vice president and chair of the Public Relations Committee in 2001; second vice president in 2000; chair of the Education Committee from 1999-2000; and treasurer and chair of the Finance Committee in 1999. He also has served on the national Education Com- mittee since 2015 and from 2007-08, Nominating Commit- tee in 2009, Regional Educa- tional Liaisons Subcommittee in 2004 and Continuing Edu- cation Committee from 2003- 04. He joined a predecessor organization of the Appraisal Institute in 1988, and received his SRA designation in 1991. n
helps businesses clarify data through the lens of a map, so they canmake better business decisions. Rittenhouse Appraisals uses Esri products to analyze real estate trends and activ- ity. They also use it with a mix of demographic data to project market changes and provide a map-based fundamental demand analysis. Rittenhouse Appraisals is based in Center City Phila- delphia and services the en- tire Mid-Atlantic Region. In addition to providing ap- praisal services, Rittenhouse also provides consulting, site
ing traffic patterns, income, and demographic data over combined maps. Another ex- ample of the use of GIS is by pharmacies to complete their site selection process, using the GIS mapping platform to analyze sales trends. It has even allowed some of them to develop a flu index. Rittenhouse Appraisals uses GIS systems to help clients better understand the competitive market and opportunities of capitaliza- tion by providing geographic analysis of demographic data, intermixed with local real estate and municipal data.
Other services provided to market participants by Rit- tenhouse Appraisals using GIS data includes helping the client understand the strengths and weaknesses of a location. That is done by ar- raying data that is pertinent to the ownership and tenants. GIS systems allows users to make the most of a location and mix data from a plethora of sources – and lay it all out on a map. The Esri (Environmental Systems Research Institute) platform accommodates solu- tions to see where data is and how everything connects. It
analysis, site visits and draw inspections. The staff at Rittenhouse Ap- praisals includes individuals who have attained the high- est designation available in the commercial real estate industry. They provide a custom analysis for proper- ties that include an in-depth examination of factors that are pertinent to its value and performance. Carlo L. Batts, MAI, is principal/chief appraiser at Rittenhouse Apprais- als. He can be reached at 267.314.8635 or c.batts@ rhappraisals.com. n
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