By Ralph Bivins’ Realty News Report
HOUSTON – A jury verdict confirmed Deal Sikes’ valuation of $9,250,000 regarding property taken by eminent domain that resulted in a lawsuit against the TxDOT as part of a widening of Interstate 610 in northwest Houston.
Using the power of eminent domain, TxDOT acquired the DiMare Fresh Produce cold storage warehouse on 3.9 acres at 1415 West Loop North. The state offered to pay$5,775,000 for the 90,000-SF warehouse, owned by Beeson Sirota Joint Venture.
The jury determined that the owner should be paid $9,250,000, the value placed on the property by Deal Sikes, a Houston valuation firm.