In an acquisition, GAAP requires the buyer to allocate the purchase price to the acquired assets and liabilities based on their fair value as of the acquisition date. For undeveloped property, this fair value can reflect the market’s perception of its potential, including future improvements, but only to the extent that it’s supported by current market data.
So tell me Einstein... what value does one of Greg's finished buildings have or some nearby comparison? Don't give me land value comps because that makes you feel better!
Market Data 
Markets 
AI
