About Robert Shannon, MAI, CCIM
Overview & Experience
Robert Shannon formed The Shannon Company in 1987. He has over 30 years of experience as a commercial real estate appraiser, consultant & broker. He is actively involved in the appraisal of all types of real estate. He has extensive experience in the appraisal of: shopping centers; office buildings; industrial facilities; self-storage facilities; multi-family properties, including condominium developments; vacant land, including residential sub-divisions; hotels and motels; and special use properties, which include marinas, golf courses and institutional buildings.
He has conducted appraisal assignments for mortgage lending purposes, real estate tax appeals, probate matters, divorce proceedings, acquisitions, internal decision-making, condemnation, reuse purposes, lease negotiations, highest and best use studies, and for the valuation of leasehold interests. In addition, he has conducted appraisal review assignments for financial institutions and in conjunction with litigation support. His real estate experience also includes brokerage, and small scale developing.
A large amount of his appraisal experience involves the appraisal of retail properties throughout the New England area. This includes the appraisal of regional malls, community sized shopping centers, and single tenanted net leased properties. Appraisal assignments involving retail properties include: a one million square foot regional mall; single tenant net leased properties occupied by national retailers such as Lowe’s Home Improvement Centers, Home Depot, Stop & Shop, Best Buy, CVS, Walgreen's, Dollar Tree, McDonald's and Burger King; a 100,000 square foot grocery anchored shopping center located in West Lebanon, New Hampshire; and a retail pad site in Salem, NH, which was subject to a long term land lease.
Appraisal assignments involving office properties include: a 100,000 square foot first class office building located within Minuteman Office Park, Andover, MA; a 145,000 square foot office facility leased to Harvard Health located in Brookline, MA; a 155,000 square foot office facility occupied by various affiliates of EFEKTA Corp located in Cambridge, MA; and a 7,400 square foot multi-tenant office facility located in Grafton MA.
Appraisal assignments involving industrial properties include: a 445,000 square foot industrial facility in Littleton, MA; a 350,000 square foot distribution facility in Middleboro, MA; a 30,000 square foot distribution facility in Peabody, MA; a 36,000 square foot manufacturing facility in Malden, MA; and a 126,000 square foot manufacturing facility in Ludlow, MA.
Appraisal assignments involving multi-family properties include: a 13 unit apartment building in Cambridge, MA; a 192 unit garden style apartment complex in Lowell, MA; a 436 unit apartment complex in Brookline, MA; an eight unit condominium conversion in Salem, MA; and a five unit proposed condominium development in Somerville, MA.
A consulting assignment includes an adaptive reuse study for an underutilized commercial property, which was developed into luxury condominiums in Manchester-by-the-Sea, MA. The Shannon Company was actively involved in the planning, permitting, and marketing of the property.
He is a member of the Appraisal Institute and has been awarded the MAI designation. He is currently certified under their program of continuing education through December 2022. He was formerly the Chairman for the External Affairs Committee for the former New England Chapter of AIREA. He also served on the Board of Directors for the New England Chapter as well as the Public Relations & Marketing Committee for AIREA. In addition, he served as the Chapter Treasurer and on the Board of Directors for the New England Chapter of the CCIM Institute.
He received his B.S. degree from the University of Lowell and attended the M.A. Program in Economics at Northeastern University, where he was awarded the annual fellowship and teaching assistantship. He has completed several of the courses offered by the Appraisal Institute leading to the MAI designation as well as all of the educational requirements offered by the CCIM Institute, where he has been awarded their CCIM designation. He is licensed as a Certified General Real Estate Appraiser by the Commonwealth of Massachusetts (License No. 720) and is a licensed Real Estate Broker in the Commonwealth of Massachusetts.
He has qualified as an expert witness and has testified before the Massachusetts Appellate Tax Board, the Essex County Superior Court, the Suffolk Superior Court and the U.S. Bankruptcy Court.