$3,000,000 Jury Verdict Awarded
Vegas Valley Investments vs. Nevada Power
– CONDEMNATION. Plaintiff sought property owned by Defendants for installation of overhead power lines. Defendants argued they were entitled to severance damages for the total loss of Defendants’ business. Defendants called Alexander
Cordero, A. I.A. , an architect and real estate developer, who testified regarding how Defendants’ business and property would be impacted. Defendants also called David H. Shindel, C‘ P.A. , C.V.A. , C.F.F.A. , a financial expert, who testified regarding Defendants’ loss of income. Additionally, Defendants called Keith Harper, M. A.I., a real estate appraiser, who testified regarding just compensation for the property taken and the severance damages to the remainder. Plaintiff called Glenn M. Anderson, M.A.I., S.R.A. a real estate appraiser, who was of the opinion that just compensation the property taken was $700,000. Plaintiff also called Mark G. Bangan, an urban planner; and Larry R. Nelson, P.E. , an engineer, who determined Dfnt business would lose eleven par king spaces. Additionally, Plaintiff called Perry E. Muscelli, a real estate broker, who was of the opinion that there was no damage to the remainder. Plaintiff called Matthεw J. Lubawy, M.A.I., a real estate appraiser, who was of the opinion that Defendants were not entitled to severance damages. Plaintiff also called Joseph F. Zerga, C.P.A. , a business valuation expert. Prayer: Determine compensation for the property taken; severance damages to the remainder; plus an unspecified amount for lost business. Defendants offered to the power lines underground – Plaintiff made a $995,000 offer of judgment (D). Ten day trial. Jury out two-plus hours.
CV A592829 – NEVADA POWER COMPANY dba NEV ADA ENERGY (Kirby C. Gruchow, Jr., of Leach, Johnson, Song & Gruchow) v VEGAS VALLEY INVESTMENT, L.L. C.; DEJA VU SHOWGIRLS OF LAS VEGAS, L.L.C.; LOVE BOUTIQUE LAS VEGAS, L.L.C.; and CLEAR CHANNEL OUTDOOR, INC. (Neil J. Beller, a sole practitioner)
FOUND JUST COMPENSATION FOR THE
PROPERTY TAKEN TO BE $700,000, AND
AWARDED $2,300,000.99 IN SEVERANCE
DAMAGES TO THE REMAINDER.