The Challenge: The development is a three-story 65,000 SF, medical office building. CBC-SC gained management during the early stages of construction and was assigned to manage the construction turn-over, in addition to being assigned post-construction vendor set-ups and staffing assistance for onsite employees.
The Strategy: Our team operated diligently on learning the full ins-and outs of the medical office building by working closely with the construction crew, future maintenance vendors, and the future staff members of the medical plaza. Management attended all training for mechanical equipment in the building (HVAC, Fire Sprinkler Systems, Lighting Systems, etc.), interviewed upcoming vendors, and attended all Go-Live Meetings with staff.
The Results: Having made themselves readily accessible and eager to learn about this new project, our team has successfully exceeded expectations of the building’s turnover. CBC-SC continues to ensure that all employees and vendors are conducting business to their fullest capacity while maintaining a great working environment for all.
The Challenge: The project is a 45,000 SF two-story medical complex. CBCSC administered management during construction and was assigned to complete all budgeting and vendor set-ups for the project.
The Strategy: Our team worked attentively on establishing a budget based off similarities in other local medical office buildings. Once the budgeting was achieved, we moved forward with collecting bids for all vendor services. We contacted and collected over 25 estimates for services, ranging in janitorial and day porter service to security monitoring. Once all bids were collected and vendors were vetted, expenses were matched to ensure compliance of the budget expenses.
The Results: Our team selected all vendors and were able to ensure budgeted expenses were met. In addition, management communicated and prepared all vendors to ensure a smooth transition when the building obtained occupancy.
The Challenge: The Center is a 120,000 SF Class A Medical project in the City of Hemet, CA. This asset is owned by a national multi-billion dollar REIT. The project had previously been poorly managed. Lack of communication with the board directors and neglect of the asset had left this new project looking vacant and worn down. Vendor contracts had been negotiated without the concern of the services being provided. When the Coldwell Banker Commercial Management team took over the management of the project, the asset had extremely high operating costs due to the un-involvement of previous management.
The Strategy: Coldwell Banker Commercial’s management of this asset began by renegotiating all vendors maintenance contracts. We began by interviewing all current vendors and reviewing the service contracts that were in place. In addition, we put the project out to bid with our network of professional vendors. Using our best judgement, we either terminated current vendors or renegotiated the existing contracts. Through frequent review of the vendor costs and level of service, the management team continues to reduce the operating costs and improve the appearance of the project.
The Results: The Coldwell Banker Commercial Property Management team managed to reduce costs over 10%, saving the owner over $10,000 per year. We did this by reducing lighting costs 50%, reducing fountain cost 50%, reducing porter costs 10%, reducing landscaping costs 10% and reducing security 12%.
The Challenge: This Owners Association is comprised of two 20,000-25,000 SF Medical Office buildings in the City of Temecula. The project consists of 10 condo units within the two buildings. The Association had excessive electricity consumption and very high utility bills when the Coldwell Banker Commercial property management team took over the project.
The Strategy: Coldwell Banker Commercial’s management team worked closely with the condo owner’s and a utility consultant to review energy consumption and evaluate the high usage issues. During the interviews and site inspections, management determined that the non-energy efficient appliances were the cause of the large utility bills the associations were encountering.
The Results: The CBC management team retrofitted the common area non energy efficient electrical and lighting appliances saving an annual energy savings of $1,000 per building. In addition, management worked with the utility consultant to provide the same services to the individual condo Owners at a discounted rate.