Gatew-1.6/Re,SP-CS010305BROKERAGE SERVICES CB [3 Richard Ellis
CB Richard EJlis, Inc.
5400 LBJ Freeway
Suite 1100
March 5, 2001 Dallas, TX 75240
T 972 458 4836
F 972 702 8315
mstevens@cbre.com
City of Coppell, Texas
Michael L. Stevens
c/o Roberts E. Hager, Esquire Vice President
Nichols, Jackson, Dillard, Hager & Smith, L.L.P.
1800 Lincoln Plaza
Dallas, Texas 75201
Re: Proposed Abandonment by City of Coppell of Portion of Exchange Circle
To Whom It May Concern:
The undersigned has been engaged by Haverty Furniture Companies, Inc.
("HFC") to establish an opinion of value on that portion of Exchange Circle
identified as "RIGHT-OF-WAY ABANDONMENT BY THIS PLAT (16,807 SQ. FT.
OR 0.3858 AC.)" on Exhibit A-1 attached hereto and incorporated herein
by this reference, and being more particularly described on Exhibit A-2
attached hereto and incorporated herein by this reference (the
"Proposed Abandoned Right-of-Way"). The value set forth hereinbelow
has been determined based solely upon the public purpose currently
served by the Proposed Abandoned Right-of-Way. Other than the facts
set forth herein, no other factors have been considered in establishing the
opinion of value set forth below.
In conjunction with establishing the opinion of value of the Proposed
Abandoned Right-of-Way, HFC has advised the undersigned of the
following facts:
1. HFC currently leases property that is located adjacent to the
western right-of-way of the Proposed Abandoned Right-of-Way (the
"New Property").
2. HFC is currently involved in negotiations to acquire the property that
is located adjacent to the northwestern, northern, northeastern,
and eastern rights-of-way of the Proposed Abandoned Right-of-
Way (the "New Property").
3. The New Property is owned by Catellus Development Corporation
("Catellus").
4. Catellus consents to the abandonment of the Proposed
Abandoned Right-of-Way.
5. Catellus also owns property identified as "RIGHT-OF-WAY
DEDICATION BY THIS PLAT (5,820 SQ. FT. or 0.1336 AC.) on Exhibit A-1
(the "Proposed New Right-of-Way").
6. In connection with the acquisition by HFC of the New Property,
Catellus has agreed to dedicate to the City of Coppell the
Proposed New Right-of-Way.
7. There are currently no utilities located in the Proposed Abandoned
Right-of-Way.
8. Other than providing access to the Existing Property, the Proposed
Abandoned Right-of-Way currently serves no public purpose.
9. In conjunction with its acquisition of the New Property, HFC has
requested that the City of Coppell abandon its interest in the
Proposed Abandoned Right-of-Way.
Based upon the above facts, and subject to the limitations set forth
herein, the undersigned hereby establishes an opinion of value of $0.00 on
the Proposed Abandoned Right-of-Way.
Sincerely,
CB Rich~
By: ~,--? ~. ~ _ _
Name:
Title:
cc: Mr. Felix de Golian
Mr. Stephen L. Bryan
- I ~g GR
I]=07 'i]!~ i
: 16,
I
h,., · 70'
Exhil it A I '
'~ z TEMPORARY DRAINAGE
wi ' WOt. 99133, PG. 00036)
- AB
, . ~n, ~i~DERG~OUND DRAINAGE
j ~& UTILITY EASEMENT
~: /. ~ (VOL. 96167, PG. 7179)
~! / ~ I/ ,b: 246'25'18'
o: ~ J~r ~ R= so.oo'
, z~ / ~.._. ~ T= -m.65',
· . " .e .~ ,+/~ I L= 25~.O5
'' / ~ ~ BT THIS PLAT ~
" I ~ /~.I.R.. , U6,807 SO. FT. OR 0.3BS -
I,". / ~ ~/?Avs / A= 66'25'!9'
" o,oo'
/~'t ~
PRIVATE ACCESS / .,.,, --I--/ ' 44.35' L= 46.37'
D & UTILITY EASEMENT ~ / .,,~ ~ .........
(By this Plot) /-- / '+11~ ~ ....... , ......
620.00'_~-- ~ ~ / ,~.u~ ~ / ~- ', /~- ~0'
, 0'~ - ,
. EASEMENT ~N2zb~:~ ~ ~l~ ; I,: 163 81'
'= ....... t~ ./u~v,~ /i ~-- ~ ~ '
' ~ - DEDICATION BY THIS PLAT
mn nN'~ ~: ~X
~1 ;l N - ~'~5'19'
~LOCA ~ ": ~: ~T: Z6.19', LOT
8.75
.OO' CAP~ ': ~.
--' ~ 309.99' o' ' ........
.... ~ W ~NO.,-.
' .~TE,~OR,,~' I EXHIBIT A-I LOT 3, BLOCK
.u J: "0RA~GE I PAGE 2 OF 2
co J EASEMENT-~ J
~,: ~o,.~,~. ~ GATEWAY BUSINESS PAR
~ m J PC. ooo3Gi
~ ~ (VOL. 99~33, PAGE
/ /
~ ~m~ v R: 60.00'
L= 258.05'
~ ~/'o~v~s' RIGHT-OF-WAY TO
BE ABANDONED
SCALE:
/ / SCALE IN FEET
~ A= 66'25'19'
m I R= 40.00'
/ /
~ i.n. L= 4G.37'
/ / o w/-o~v,S'c~ (c~ c.B.=s]~'~a's~'w
/ z sm'~'~'~ <~'~' ~O-
GO.O( ' S.m.R. N88'23'42'W '~~ ~
i ~ i POI~ OF BEGINNING
................. :~ ~ I.:
BUSINESS , ~ -
PAR i
~ LEGEND, / 'X~"
Y~' SIR ~z' 5ET IRON ROD ~1~ tELLO~ P~STIC
J ~ ' ~ ~/C~P C~P 5T~UPED ~LFF ASSOC. INC.'
I
~O~ O~ I ~ RIGHT-OF-WAY ABANDONMENT
CO~~C[~, OF A PART OF EXCHANGE CIRCLE
.. OUT OF THE
.? . S.A. & M.G. RAILROAD SURVEY, ABSTRACT No. 14~
../ '~. CITY OF COPPELL, DALLAS COUNTY, TEXAS
-/ '~ FOR
GATEWAY BL~D. CA~g~S D~LO~~ CO~
(70' ~O.WJ PR~ARED BY :
8A515 OF BEARING BEING THE REPLAT 0F LOT 3 HALFF ASSOCIATES, INC.-ENGIN~RS & SURVETOR5
& COMMON AREA 1 OF BLOCK 2 GATEWAY BUSINESS 8616 NORTHWEST PLAZA OR. DALLAS, TEXAS
PLATPARK ASREcORDs,RECORDEODALLAS~N VOLUUEcOUNTY,99133,TEXAS.pACE OO03~, SCAL~ 1'=60' AVO 19177 JANUARY,
. . t~~
LEGAL DESCRIPTION
EXHIBIT A- ~ ,
BEING a tract of land in the S.A. 8: M.G. Kailroad Survey, Abstract No. 1439, Dallas County,
Texas, and being adjacent to Lot 1 R, Block 2, Gateway Business Park and Lot 3, Block 2, Gateway
Business Park, Additions to the City of Coppell, Texas, as recorded in Volume 96167, Page 7179
aad Volume 99133, Page 36, respectively, of the Deed Records of Dallas County, Texas,
(D.tCD.C.T.), and being a part of Exchange Circle, a publicly dedicated right-of-way (60 feet wide)
as dedicated by plat recorded in Volume 96167, Page 7179 of the Plat Records of Dallas County,
Texas ('P.R-D.C.T.), and being more particularly described as follows:
COMYvLENCING at the northwest end of a comer clip located at the intersection of the north right-
of-way line of Gateway Boulevard (70 feet wide at this point) with the east fight-of-way line of
said Exchange Circle;
THENCE North 01 degree 36 minutes 18 seconds East, along said east fight-of-way line, a distance
of 42fl.50 feet to a l/2-inch iron rod with a yellow plastic cap stamped "HA.LFF ASSOC. 12'4C."
(hereafter referred to as "with cap") set for the POINT OF BEOINNINO;
THENCE North 88 degrees 23 minutes 42 seconds West, departing said east right-of-way line and
crossing said E×chang¢ Circle fight-of-way, a distance of 60.00 feet to a 1/2-inch iron rod with cap
set on the west right-of-way line of said Exchange Circle;
TI-IENCE North 01 degree 36 minutes 18 seconds East, along said west right-of-way line and the
east line of said Lot 1R, a distance of 136.00 feet to an iron rod with cap stamped "DAVIS" found
for the point of curvature ora circular curve to the right having a radius of 60.00 feet;
THENCE Northeasterly and Southwesterly, departing said west right-of-way line and sa~d east line
of Lot 1R. and along said circular curve and the northerly and easterly right-of-way line of said
Exchange Circle, through a central angle of 246 degrees 25 minutes 18 seconds, for an arc distance
of 25g.05 feet to s.n iron rod with cap stamped "DAVIS" found for the point of reverse curvature of
a circular cra-ye to the left having a radius of 40.00 feet;
Tt-EENCE Southwesterly along said circular cttrve and said easterly right-of-way line, through a
central angle of 66 degrees 25 minutes I9 seconds, for an arc distance of 46.37 feet to an iron rod
with cap stamped "DAVIS" found for the end of said curve on the aforementioned east right-of-
way Ii.ne of said Exchange OLmle and on the west line of the aforementione~d Lot 3;
TId~NCE South 01 degree 36 minutes 18 seconds West along said east right-of-way line and said
west line, a distance of 44.35 feet to the POINT OF BEGIY,rNYNO AND CONTAIZffNG 16,807
square feet or 0.3858 acres of land, more or less.
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