HOUSTON--(BUSINESS WIRE)--Deal Sikes & Associates, a Houston-based real estate valuation and consulting firm, has represented the majority of property owners in eminent domain cases involved in the widening of Interstate 45 South, also known as the Gulf Freeway.
“Many commercial property owners are seeking professional assistance as they deal with the complex eminent domain process when these roads are built.”
Texas Department of Transportation (TxDOT) exercised its power of eminent domain to obtain land for expansion of the Gulf Freeway, which is being widened from Beltway 8 to NASA Road 1.
As privately owned property was taken through eminent domain for the Gulf Freeway expansion, in many cases there was a significant disparity between the price offered by the governmental entity and fair market value. A number of commercial property owners retained the services of Deal Sikes & Associates to determine the fair value of their holdings and the losses that resulted from the condemnation actions. The resolution of these cases resulted in significant increases in compensation for the property owners.
Deal Sikes & Associates has vast experience in eminent domain consulting, representing the majority of the commercial property owners impacted by the widening of the Katy Freeway, in addition to eminent domain assignments on the Grand Parkway, Highway 59 and Highway 290.
“Property owners must receive just compensation when governmental entities take their property through the government’s power of eminent domain,” said Matthew Deal, principal, Deal Sikes & Associates. "A thorough evaluation is required to ensure that just compensation is paid for the loss of their property and for damages to their remaining adjacent property.”
“The strong Houston economy and population growth has required a great deal of road expansion recently and we are anticipating more public improvement projects in the coming years,” said Mark Sikes, principal, Deal Sikes & Associates. “Many commercial property owners are seeking professional assistance as they deal with the complex eminent domain process when these roads are built.”
Deal Sikes & Associates is a Houston-based firm providing real estate valuation and counseling for eminent domain initiatives, and real estate counseling and valuation services for governmental agencies, real estate companies, law firms, estates and corporate clients across the nation.