Higbee Co. v. Cuyahoga County Board of Revision

{¶ 1} This case concerns the valuation of a 15.046-acre tract of real property owned by the Higbee Company (“Higbee”), a subsidiary of Dillard’s, Inc. (“Dillard’s”). The property, which is located in the SouthPark Center in Strongsville, is improved with a two-story, 213,084-square-foot building housing a Dillard’s department store. Higbee paid $10 for the 15.046 acres of land. The building was built by CDI Contractors, Inc., a wholly owned subsidiary of Dillard’s, for a cost of $14,927,945. It is not clear whether the CDI costs include soft costs, such as architect’s fees and insurance. The…