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22 Jan 2015
Digest Permalink
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BOMA Participation Pays Off

January 22, 2015

2014 was a banner year for Meissner Jacquét and its  commercial real estate management team. Besides maintaining a management portfolio totaling over 11.25 million square feet of office, retail, industrial and Commercial Owner Association properties throughout San Diego, Los Angeles, Orange, Riverside and Imperial Counties, and select areas in Arizona, Meissner Jacquét received notable awards from the Building Owners & Managers Association (BOMA) San Diego Chapter.

Each year BOMA San Diego holds a Winter TOBY and Membership Awards Gala where it recognizes members for their dedication and hard work to the commercial real estate organization.

The sixth annual Gala, held in December 2014, awarded 7 winners:

  • Principal Member of the Year: Amber Molina of Colliers International
  • Associate Member of the Year: Michele Ignacio of A.O. Reed & Co.
  • Chairperson of the Year: Jessica Kalloch of Bill Howe Plumbing
  • Rising Star: Dean Schumacher of Watkins Landmark Construction
  • Gavel Award: Kristin Howell of Meissner Jacquét Commercial Real Estate Services
  • President’s Award: Lynn Hulbert of Brandywine Realty Trust
  • Champion of Education: Thor Emblem of ABM

“We are thrilled to have the opportunity to acknowledge the efforts and contributions of our incredible volunteers each year,” said BOMA San Diego President Kristin Howell of Meissner Jacquét Commercial Real Estate Services. “The success of our chapter relies heavily on our members’ commitment to the organization and each year we look forward to celebrating their dedication and passion to BOMA San Diego.”

In addition to going home with the Gavel Award, Meissner Jacquét’s property management team received several nominations. Senior Portfolio Manager Kristin Howell and Real Estate Manager Rhonda Vicker were nominated for BOMA San Diego’s Principal of the Year. Rhonda Vicker was also nominated for Chair Person of the Year.

BOMA members were not the only ones to bask in the spotlight. San Diego County commercial properties also received awards for The Outstanding Building of the Year (TOBY) 2014.

TOBY award winners included

  • Less than 100,000 square feet

Canyon View Owners Association – 5330 Carroll Canyon Road, San Diego

Property Managers: Lyslie Brooks & Kristin Howell, Meissner Jacquét Commercial Real Estate Services

Owned By: Canyon View Owners Association

  • 100,000 – 249,999 square feet

Nobel Executive Center – 3655 Nobel Drive, San Diego

Property Manager: BJ Van Aken, CBRE, Inc.

Owned By: Property Reserve Inc.

  • 250,000 – 499,999 square feet

StoneCrest – 9635, 9645, 9655 and 9665 Granite Ridge Drive, San Diego

Property Managers: Mary Blagg & Katherine Cox, CBRE, Inc.

Owned by: TIAA-CREF

  • 500,000 – 999,999 square feet

One America Plaza – 600 West Broadway, San Diego

Property Manager: Dan McCurdy, Irvine Company

Owned By: Irvine Company

  • Suburban Low Rise (1 – 5 stories)

Kilroy Centre Del Mar – 3579, 3611, 3661, 3721 & 3811 Valley Centre Drive, San Diego

Property Manager: Bernadette Blanco, Kilroy Realty Corporation

Owned By: Kilroy Realty Corporation

  • Suburban Mid Rise (6 – 10 stories)

San Diego Tech Center – 9605 Scranton Road, San Diego

Property Manager: Amy Lane, EdgeCore Real Estate Group

Owned By: Locale Advisors and Lionstone Investments

  • Industrial Office Park

Biltmore Ocean View Hills – 6151 – 6529 Progressive Ave. & 6120 Business Center Ct., San Diego

Property Managers: Kristin Howell, Meissner Jacquét Commercial Real Estate Services

Owned By: Biltmore Ocean View Association

To read the full description of each 2014 TOBY Award Winner, visit San Diego Daily Transcript’s website.

“Meissner Jacquét’s participation and leadership role in BOMA San Diego allows us to have a direct impact on the commercial real estate industry. We place immense value on the relationships that we have with our vendors, clients, tenants and industry peers, and BOMA is a great platform to encourage these professional affiliations,” said Jerry Jacquet, a Principal at Meissner Jacquét Commercial Real Estate Services and a BOMA Advisory Board Member.

Sources:
Meissner Jacquét Commercial Real Estate Services
BOMA San Diego
San Diego Daily Transcript

12 Dec 2014
Perspectives Permalink
construction management companies

What’s in Store for Real Estate in 2015?

December 12, 2014

Your commercial building is affected by uncontrollable elements – both internal and external. Each year it’s affected by backlash from shifts in weather, energy waxes and wanes, construction projects, repair needs, tenant fluctuations, and new regulations. Even some of the toughest structures are susceptible. Being more aware of changes in these areas that are predicted to take place in 2015 can help you, help your commercial space prepare and withstand.

Weather

By now we all know that climate change is real, it’s  across the globe and it’s very obvious in California, the nation’s most populous state. California routinely deals with wildfires, landslides, mudslides, drought, flooding, El Nino, Santa Ana winds,  winter storms, severe freezes and tsunami waves. Over 80 major disasters have been recorded in California  since 1953. Even Southern California’s sunny San Diego has undergone weather-related problems. Ten-year climate projections for San Diego include warmer temperatures, more drought years, more storms and extreme weather conditions, and higher ocean levels.

What will this mean for your commercial real estate? There is uncertainty as to how the changing climate conditions may ultimately undermine the meteorological data we use to design buildings and infrastructure, but the below issues are likely to be seen.

  • Increasing health and safety risks for tenants caused by a reduction in the quality of the indoor environment.
  • Premature or accelerated deterioration of the building as a whole.
  • Potential reduction of effectiveness in safety measures set in place.
  • Reduced service life and functionality of components and systems.
  • Increased risk for catastrophic failure of systems.
  • A rise in repair, maintenance, reserve fund contingencies, and energy costs.
  • Escalated service disruptions and emergencies.
  • A spike in insurance liability as a result of premature aging or deterioration.

Your  commercial structure is very likely built to code, and that’s great, but it’s important to not rest on that fact alone.  Rain, wind pressure and flung debris are all real threats to your building. While you cannot control the weather, you can mitigate the effects that the general climate and weather swings have on your space by making sure you and your commercial property management team keep apprised of systems maintenance, energy usage, air quality, building construction weaknesses, fire hazards, and the surrounding grounds cleanup. By instituting safety drills and policies, and preventative maintenance on a regular schedule, you may be able to avoid bigger catastrophes.

Construction

Data shows that it is very likely that your asset will undergo at least three property improvement projects each year. Whether they are large capital improvements or smaller tenant improvements, they all affect the general stability of your commercial real estate. By making sure each project is properly managed, you will ensure that your building can take a punch and stay upright. This is an area that an experienced commercial property management firm understands and excels at. Before you start project planning, call your commercial property management team. They can add value through their knowledge of building products, building costs and techniques, their knowledge of general contractors and subcontractors, their negotiating expertise which allows them to verify products and quality, and their organizational skills that allow them to monitor and ensure completion of each phase of construction. Additionally, they will conduct a closeout assessment at project completion that includes a final punch-list and a portfolio of pertinent documents including any needed warranties and instructional materials.

Besides capital improvements, building renovations, and build-out of interior improvements, there is another type of construction that can affect your commercial asset – road and other city-related construction. This can impact your tenants’ commute and ease of access.

Below are two San Diego-specific websites to help monitor these risks and to keep your tenants informed:

Energy Issues

Staying informed of changes in energy costs and mandates can be a full-time task. But no matter how troublesome, being aware of all regulations and available incentives can pay off quickly.

There are organizations that supply commercial property owners with tips and step-by-step methods to practice wise and cost-effective energy consumption.

San Diego has a very active chapter of the U.S. Green Building Council (USGBC), who promote sustainable design and represent over 100 organizations active in “green” building design throughout the  region. The USGBC’s website states, “there are more than 60 LEED Accredited Professionals in San Diego. LEED stands for Leadership in Energy and Environmental Design. LEED’s Green Building Rating System® is a voluntary, consensus-based national standard for developing high-performance, sustainable buildings.”

Commercial real estate owners can also embrace more energy-efficient technologies. According to The Harvard Business Review, property owners can “measure the sources and levels of their own greenhouse gas emissions; identify potential impacts of new regulations or products, droughts, and storms, etc.”

According to EnergyStar, a U.S. Environmental Protection Agency (EPA) voluntary program that helps businesses and individuals save money and protect our climate through superior energy efficiency, commercial buildings in the United States consume 21% of the nation’s energy at a cost of more than $100 billion per year. These buildings also generate 17% of our country’s greenhouse gas emissions, which ultimately becomes a climate change factor. However, EnergyStar also notes that, by 2035, 75% of all buildings will be new or renovated, opening up a great opportunity for builders to install green systems as they construct. A recent study of architects, engineers, contractors, owners, and consultants also shows that 53% of U.S. firms expect to be dedicated to green building by the end of 2015.

According to a Deloitte report, the right focus on energy and technology has an affect on tenant retention as both elements may impact space supply and demand in and after 2015. “Tenants, more so than ever, are really incorporating technology demands and sustainability considerations in their leasing decisions.  Properties that can’t support the technology needs of their tenants, or aren’t sensitive to their sustainability goals, won’t perform as well,” states a Deloitte official.  This can apply to the performance of commercial space as well.

New Laws

There are new regulations on the horizon for 2015 that commercial property owners need to watch out for. Visit your city’s website to find out what these new regulations, codes,and requirements are, and how they might affect your asset.

Your commercial building is an asset with a personality all its own. By hiring a professional, third-party, commercial property management company, you will be able to keep an eye on it from all angles.  Tim Meissner, a Principal with Meissner Jacquet Commercial Real Estate Services, who has been in commercial real estate for 35 years, says  “an experienced commercial property management team can help property owners prepare for and control  many seemingly uncontrollable issues that can threaten the longevity of commercial assets.”  So instead of waiting for the next repair, improvement, or regulation, take action today by understanding your options.

Sources:

EnergyStar

California Association of Realtors

San Diego County – Department of Public Works

Keep San Diego Moving

REIT.com

City of San Diego Development Services Department

Meissner Jacquet Commercial Real Estate Services

12 Dec 2014
Trends Permalink
commercial property managers

How to Ease Holiday Property Headaches

December 12, 2014

It’s pretty easy to make a Holiday To- Do List for your personal life. Items that might top the list could include: “Learn how to  cook the holiday meal so that the roasted potatoes don’t get done before the turkey is thawed,” and “don’t forget to get a gift for Great-Aunt Edna (again).”

But what should go on your list when preparing your commercial real estate for the mania of on-site holiday activities and for the down days when there is limited foot traffic?  And how can your commercial property management team help?

Holiday Prep and Clean up

As the year draws to a close, you and your tenants work long hours to complete what needs to be done before the holidays, and it’s especially difficult to fit in any additional to-dos. For example, organizing and managing holiday decoration design, installation, and dismantle can be a daunting task. Keeping track of all the extra packages arriving is a challenge too. So is finding the right vendors for holiday catering, entertainment, extra security, setting up and monitoring any charity collection bins placed in the lobby and – everyone’s favorite – cleaning up after any on-site seasonal festivities.

But there is no need to cry into your hot cocoa. Your commercial property management team can help you get it all done. They can help manage security and janitorial services, and ensure that appropriate scopes of work are in place with professional vendors.

Coordinating holiday site functions and advertising with the tenants and tenant merchant association is also important duties of commercial property managers.  Kevin Tagle, Vice President of Meissner Jacquet Commercial Real Estate Services, ensures that tenant relations is of utmost importance in each property managed. Tagle says that, “it’s each property management team’s responsibility to meet each tenant site contact on a regular basis and respond proactively and promptly to their questions and concerns.”

Getting Through Holiday Down Time

After all the tinsel is cleared away and the majority of your building’s occupants have left for vacation, your semi-empty space can take make the most of this “down time.”

This is a perfect time to conduct a thorough and deep cleaning throughout the structure – including air ducts and vents. It’s also the best time to conduct electrical and HVAC safety tests, as tenants will less likely be affected. Painting, updating lighting, installing and testing  new equipment, redesigning floors pace, and restocking supplies are other great projects to tackle over the holidays as there will be fewer interruptions for the work crews and a lower risk of disrupting tenants.

The exterior of your commercial asset can undergo a sprucing up too. Landscape vendors can install new landscaping elements, lighting or sprinkler systems, build or repair sidewalks, clean fountains, and provide an overall general clean and trim. And that roof could also get a once over – weather permitting.

It can sound overwhelming, not to mention exhausting. But that’s what your commercial property management firm is enlisted to do, manage and oversee everything.  Including, planning all service orders,  interviewing and selecting vendors, preparing cost estimates, scheduling work, making sure all equipment is available, checking progress, and keeping all records of the work performed. They can also provide you with the assurance that you need that every job will be done right the first time, will stay on budget, and will be entered into every relevant record. Allowing you and your building to start the New Year refreshed and revitalized.

Sources:

Property Manager.com

Encharter.com

Meissner Jacquet Commercial Real Estate Services

11 Dec 2014
Spotlight Permalink
commercial real estate property management companies

How Can You Mitigate Pest Infestation?

December 11, 2014

Everyone has pests. Some may big and some may be unseen with the naked eye.  Pest infestation can occur in both your home and your place of work.  Pestgon, a professional pest management company that serves the pest control needs of Southern California, receives calls from residential and commercial tenants alike expressing wonderment at the fact that they are now experiencing a pest problem, where there was never one before. They ask, what can we attribute to the occurrence?

Everything in nature responds to the available food supply. When there is more nutrition, especially vegetation and plants, then insects flourish and reproduce in greater quantities. As the insect population increases it then provides a greater food supply for small vertebrate pests, such as rodents. As the population of rodents grows, then the snake and critter population (such as coyotes) also explodes.

What can you do to mitigate pest infestation?  Commercial property owners and managers can initiate preventative maintenance programs with qualified, professional vendors.  Making sure to closely monitor and perform annual contract reviews and re-bidding can ensure competitive pricing, and that services are being performed according to pre-defined scopes of work.

In every commercial property, tenant happiness is of utmost importance, so whether there is a swarm of bees, spiders or rodents, ownership and management must be equipped to act fast by offering constructive solutions.  Having qualified pest management vendors call-ready is one way to maintain a positive working relationship with your tenants.

Besides securing pest management, other smart preventative maintenance steps to take to ensure tenant happiness and retention include:

  • Skilled HVAC technicians to perform equipment inspections and maintenance
  • Landscapers and landscape architects to ensure a clean and sharp appearance
  • Roofers to prevent leaks that form around roof penetrations, corners and HVAC equipment
  • Building maintenance professionals to perform window cleaning and other physical plant issues
  • Day-porters to ensure general cleanliness
  • Electricians to ensure lights are routinely checked and all bulbs are operational
  • After-hours response in the event of an emergency

While it’s fascinating to observe nature’s activity, commercial property owners and managers should take preventative measures to protect our valuable real estate and tenancies.

Sources:

Meissner Jacquet Commercial Real Estate Services

Pestgon

Pestgon Logo

 

 

 

 

11 Dec 2014
Updates Permalink
commercial property managers

The CRE Market Looking Forward

December 11, 2014

Commercial real estate in the San Diego market has made considerable gains in 2014. Where we have been and where we expect to go in 2015 for the office, retail, and industrial / flex markets? For more on these markets as well as the San Diego hotel and multi-family market, be sure to download the latest IRR Viewpoint, coming soon.

Office

Overall, the San Diego office market continues to recover, with Class A space remaining strong in both Downtown San Diego and Suburban San Diego. This is especially true in the northern part of the city, where speculative office development has resumed in areas like UTC and Del Mar Heights, and asking rents are reaching $4 per square foot per month. Recently, vacancy rates for Class B space have increased slightly since our mid-year update, but overall office market conditions are improving (albeit at a slower pace than other San Diego property types). One of the challenges that San Diego faces is stagnant job growth and competition from other states for companies to remain in San Diego (which happened earlier in the year when Websense moved to Texas). Similar to other property types, another challenge is finding developable sites in high-demand areas like Central San Diego to build more modern, efficient office space. The office market in San Diego is forecasted to remain steady overall, with Class A office space in Central San Diego improving at a stronger pace.

Retail

The San Diego retail market has remained generally stable since our mid-year update. The vacancy rate for regional shopping centers remains relatively low at 0.50%, and over the last six months the vacancy rate for community and neighborhood shopping centers has dropped 30 and 120 basis points, respectively. However, all three property types are showing a slight dip in the average asking rent, and there is not any new sale data to indicate significant improving market conditions. That said, local market participants are stating that a shift in the market is imminent. Sales, tourist traffic, and employment that support retail have recovered, and the eventual rise of interest rates is expected to cause sales volume to increase (due to investors taking advantage of the low cost of capital prior to the rate increase).

Similar to other property types, the focus for retailers in the immediate future will be in the urban core. Additionally, due to a lack of developable land, developers will continue to focus on redeveloping existing sites and developing mixed-use projects. In the immediate future, we forecast that the retail market will remain steady as the local economy continues to improve and demand begins to increase.

Industrial / Flex

Since our mid-year update, the San Diego industrial market has remained relatively stable, but the flex / Research & Development market has improved modestly. Over the past six months, both the average industrial market rent and industrial vacancy rate are relatively unchanged. On the other hand, the average flex / R&D market rent has increased over 6%, and the vacancy rate has decreased by over 6%.

In San Diego, the biotech industry continues to be a growing market, which will positively affect R&D space in submarkets such as Sorrento Valley and Sorrento Mesa, where the majority of this business is located.

Additionally, we note that although the industrial market has remained relatively stable, there is industrial development planned in select submarkets – local developer Murphy Development plans to construct millions of square feet in Otay Mesa, a submarket on the U.S. / Mexico border. Since the expansion of the San Ysidro Border Crossing, an increase in maquiladora operation is expected to occur in the region, which will lead to a demand in newer industrial space. Overall, the San Diego industrial market is on the brink of expansion and market conditions are forecasted to be positive.

Besides experiencing fluctuations due in large part to the recovering economy and competition with other states regarding retaining/attracting businesses to occupy space, San Diego is positioned to realize positive gains in 2015 due to its premier location and attractive quality of life.

Sources:

Integra Realty Resources – San Diego

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11 Dec 2014
Digest Permalink

Where Have All the Retailers Gone?

December 11, 2014

What will the retail market look like in 2015?  With the disappearance of popular tenants such as Mervyn’s, Borders, and Blockbuster due to e-commerce, e-readers, and online movie rentals, the retail landscape looks different than just 5 years ago.  Technology is only partially responsible for the decline in brick-and-mortar stores – during the first quarter of 2014, internet-based retail sales were 6.2% of total retail sales.  Despite the fears of many that online shopping would put an end to physical storefronts consumers still enjoy the social aspects that lifestyle shopping centers offer.

Yet the stigma still remains and some lenders are wary about underwriting large-format traditional retailers that sell commodities such as electronics, books, movies, music and appliances.  The good news is that money has returned to the market, and lenders are willing to underwrite.  For those wary lenders, a few good financing tools are sales figures and health ratios – and they’re readily available.  A health ratio is determined by dividing a store’s gross sales by its rent (plus common area costs).  For instance, if your nail salon tenant has 30% of her sales going toward rent payments, that doesn’t leave much room for anything else.

In addition to analyzing hard numbers, lenders should look at the demographics, location, neighborhood, and even weather, of the proposed retailer’s location.  ​Jerry Jacquet, a Principal with Meissner Jacquet Commercial Real Estate Services in San Diego, says that  “it’s “imperative that you get the whole picture – whether lending or interviewing a prospective tenant – you have to take into account if it’s going to appeal to the core demographic.  Making sure to take into account the desired term of the tenancy is also important.” Is it a trend that will result in a shorter tenancy or a necessity-based commodity such as a drugstore or grocer, who have long-term tenancies?

California, known for its abundance of sunshine, dense population, healthy income and housing prices, allow both retailers and lenders to feel more confident in a shopping center’s chance for success.  According to Bank of the West’s California Regional Economic Outlook, California is forecasted to add 356,000 new jobs in 2015, a 2.3% increase.

It’s apparent that retail is in recovery, not only due to lender activity, but to the projected housing starts and income growth.  These factors contribute to retail development – the sector is responding to an increasing population and consumer confidence.

So how do new or existing retail centers position themselves for success?  Retailers and developers must get more creative.  Incorporating omni-channel approaches by offering physical and online sales is a start.  Deloitte and the National Retail Federation published a report in early 2014 that revealed several of the top 20 internet retailers are companies that have a significance brick-and-mortar presence, such as Apple, Best Buy, Costco, Macy’s, and Walmart.

Knowing the right ratio of online to brick-and-mortar presence is key – many retailers expanded exponentially during boom-times and thus went out of business or closed a number of stores.  Smart retailers pay attention to the industry and to the discerning consumer.

Even though the economic recovery is still underway, and retail is in the process of defining a “new normal,” it is an exciting time to invest in retail real estate.  Whether you are a lender, an investor, a tenant, a leasing agent, or property manager, all signs point to the increasing value of retail.

Sources:

Western Real Estate Business

Meissner Jacquet Commercial Real Estate Services

20 Nov 2014
Updates Permalink
commercial real estate property management companies

Central San Diego Market 2014 Recap

November 20, 2014

As 2015 quickly approaches, we look back on the year and highlight 2014 trends in the Central San Diego market across the three major commercial property types: office, retail, and industrial.

The Central San Diego market is delineated by CoStar in the map below, and consists of the following submarkets: College Area, Kearny Mesa, Mission Gorge, Mission Valley, Old Town / Sports Arena / Point Loma, Park East (North Park / South Park /Golden Hill), Pacific Beach / Rose Canyon / Morena Blvd., Uptown East (University Heights / Kensington), and Uptown West / Park West (Mission Hills / Hillcrest).

commercial real estate property management companies

Rental and vacancy rates across the three property types, compiled by IRR San Diego, are shown in the table below:

a-chart

Out of the three property types, the office market has performed the strongest in 2014. The average asking rental rate increased 6%, and the vacancy rate has dropped by 60 basis points. No office properties are currently under construction in the Central San Diego market, however there are six proposed properties planned in Mission Valley. Going into 2015, the office market is expected to continue to improve.

Industrial properties in Central San Diego have had the second best performance in 2014 with an average rental rate increase of almost 5%. While the vacancy rate increased slightly since the first quarter, it is still relatively low at 4.4%. Industrial properties in this submarket benefit from the central location and convenient access to several freeways. This combined with the fact that there is no industrial product planned or under construction in Central San Diego will continue to benefit existing inventory.

The retail market in Central San Diego has remained relatively stable in 2014, with the average rental rate even dropping by 0.5%. That said, the vacancy rate continues to be relatively low at 3.0% (dropping 50 basis points from the beginning of the year). According to CoStar, there are 3 properties currently under construction in this submarket, and 12 proposed properties. Even though the rental rate has dropped, the low vacancy rate and apparent demand for retail space will positively affect the general retail market.

Overall, the Central San Diego market has generally improved over the course of the year. In the immediate future, expect market conditions for all three property types to continue to improve.

Sources:

Integra Realty Resources – San Diego

IRR-logo-large

 

 

CoStar

20 Nov 2014
Trends Permalink
real estate investment companies

Maintain Your Investment Without Emptying Your Wallet

November 20, 2014

trends investment services

You’re familiar with your asset, and all of its unique requirements. But sometimes keeping property costs in line can be overwhelming. And saving money can seem impossible. However, there are methods to keep your commercial property running efficiently and still save money.

Smart Vendor Selection

You want to find the right vendors who can quickly understand the intricacies of your property as well as you do. This will help you save both time and money by anticipating issues and making minor repairs before they escalate into bigger, more serious issues. The list of professional vendors required to keep your property operating in top condition is long and varied. It generally includes security, janitorial, trash removal, landscaping, pest control, and building systems, such HVAC specialists, painters, plumbers, and electricians.  Making sure that each and every vendor that interacts with your property has sterling references, a strong work ethic, and is appropriately insured in accordance with your property’s business plan is essential. Sometimes vendors who appear to be initially less expensive than others can end up costing more money due to inexperience or substandard services.

Look After Your Building Systems

Building systems can leak money if not well managed. Learn how to get the most out of each and every building system you have in place. By setting your systems for maximum efficiency, you can better control your operating costs.  While some of today’s office and industrial / warehouse building systems are hyped as being low maintenance, this does not mean you can simply install and ignore them. One quick and relatively easy way to start saving money is to define a maintenance program, including systems and equipment inspection and preventative maintenance at predefined intervals. Keeping a detailed service log of all system components will ensure that repairs are caught early, and equipment replacements are planned and budgeted.

Teaching Tenants

Your tenants can be coached on how to save money too. By offering constructive operating solutions and tips, including closing heating vents – or radiator valves in older buildings – in unused rooms, and ensuring that blinds, furniture or plants do not block registers. Another idea – encourage your tenants to opt for task lighting (over desks, tool benches, etc.) with compact fluorescent bulbs, so that only those areas that are currently occupied are lit versus lighting whole rooms. Compact fluorescent bulbs use 75 % less electricity than incandescent bulbs; they last almost 10 times longer, and can sometimes be used with dimmer switches.

Lighten Up

The type of paint and furniture in your commercial space can also have an impact on your energy costs. Darker-colored walls, ceilings, floors, and furniture absorb light and require higher lamp wattage to achieve a decent level of illumination. By placing lighting in a corner rather than against a flat wall, allows light to be reflected from two wall surfaces instead of just one. Two other easy ways to save on electricity include installing photo sensors that automatically adjust the amount of light needed, and utilizing occupancy sensors that turn lights on and off based on detection of motion in the area.

Diligent property maintenance, effective vendor management, and proper preventative measures can reduce commercial real estate owners’ operating costs and save tenants money in the long run.  Meissner Jacquet Commercial Real Estate Services is adept at retaining professional vendors for cost-effective maintenance and services.  Jerry Jacquet, a Principal at Meissner Jacquet, has helped many of the firm’s clients by instituting the right property management program for their commercial asset. Jacquet says that the firm’s commercial property managers stress the necessity of “monitoring all vendor work closely, performing annual contract reviews and re-bidding to ensure competitive pricing is in place, along with the correct scope of work.”   These measures, along with a detailed property business plan, will not only assist the property owner in economizing, but also have the added benefit of saving two limited resources, time and money.

Sources

Meissner Jacquet Commercial Real Estate Services

20 Nov 2014
Spotlight Permalink
san diego property management companies

Why an Electrician Should Provide More Than Just Electricity

November 20, 2014

spotlight electricity services

Robeck Electrical Maintenance is a full service contractor located in San Diego and has been providing superior electrical services to San Diego, Riverside and Orange Counties for over 40 years.  Robeck provides electrical and lighting maintenance services to over 500 commercial businesses and properties.

Robeck’s electrical services include:

  • basic electrical replacement of large electrical distribution and metering equipment
  • electrical testing
  • underground pipe and cable location services
  • power quality trouble-shooting & resolution
  • thermal scanning of electrical equipment for preventative maintenance
  • network & phone cabling
  • emergency lighting systems

Robeck’s contracts include monthly maintenance agreements for all commercial property types, including retail, office, industrial and commercial owners associations.  In addition, Robeck offers full-service, interior, building lighting maintenance with specific scheduling to meet customers’ needs. By appropriately outlining a commercial property’s electrical maintenance needs from the beginning, owners and commercial property managers are able to budget for expected costs and institute preventative maintenance that will reduce the need for larger repairs that require larger capital investments.

Additional services provided by Robeck include:

  • Ultrasonic straight line beam testing of steel and aluminum products used in parking lot light poles and sign support columns
  • Exterior & interior lighting fixture, motion sensor, and photo cells installation
  • Sign repair (including lamps, ballasts & neon)
  • Bird spike installation
  • Pole refurbishing

Robeck Electrical prides itself on our prompt response and 24-hour emergency assistance service.  To learn more about our services please contact us at 760-744-6880.

Sources:

Robeck Electrical

20 Nov 2014
Perspectives Permalink
commercial property management

Thinking of Managing In-House vs. a Third Party Manager? Choose Wisely

November 20, 2014

There are many reasons to self-manage, or manage in-house. Including not paying a third party commercial property manager. But before you head in that direction, give some thought to what you’re about to tackle and what might happen if you can’t hold on to all the strings attached. Determining the most effective and efficient way to manage commercial property involves a lot of strings, such as the ones identified below.

Regulations

As a commercial property owner, all the requirements you need to understand and abide by are not easy to grasp. There are laws and requirements at the federal level, coupled with regulations at the state and local level. Keeping on top of these ever-morphing requirements can be difficult. And even more problematic are the fines levied on property owners or landlords who fail to meet these requirements that relate to inspections, ease of access, ADA, tenant rights, and repairs and maintenance – just to cite a few.

Technology Trends

How can you leverage the benefits received from the latest trending technology that can provide you with real-time tracking of rent payments (and arrears), building systems performance, scheduled inspections, costs for repairs and costs for maintenance? Managing these systems on your own require a substantial portion of your time, not to mention a big chunk out of your wallet, if not negotiated and contracted correctly.

Choosing Vendors

Do you have contracts – and appropriate scopes of work – with trusted vendors that you’ve vetted for top service and competitive rates? How big is your vendor pool? How far do your vendor resources stretch? Self-managing might limit your resources and not allow for volume purchasing, such as what third party managers are privy to.

Advertising and Promotion

When you have space vacancies, do you get volume discounts and automatic savings on advertising your property’s availability – both digital and hard copy advertising? And do you have access to multiple industry promotion forums and channels? Third party managers have relationships with industry-leading leasing agents and brokers, who can expertly handle all the intricacies involved with marketing space.

Time

Time is both fleeting and precious. Especially your time. Do you have hours each day, week, month, and year to perform in-depth analysis of property information regarding your portfolio’s performance? Or handle urgent maintenance issues after-hours? What about opening vacant spaces for leasing agents and prospective tenants to view available space? Know what your time is worth and allocate to professionals.

Market Rent Rates

Of course you want to get the best possible rent for your property, but how do you determine what’s market? And how do you stay abreast of the ebb and flow of industry rates? Having a limited understanding of what you should expect in rental income – and offer your tenants what they demand – can be a truly daunting task.

Tenant Selection

Speaking of that all-important ideal tenant, what hoops are you ready to jump through to find them? And then vet them up to, and through, checking their background and credit? Third party commercial property managers are adept at leasing agent coordination and have processes in place to make this process as seamless as possible.

Continuing Education

A final item to ponder is gauging the time you can devote to networking with other commercial property owners and professionals, staying atop the wave of new trends, policies, and best practices – while attending industry conferences – that address each and every issue on this list.

The Solution

At Meissner Jacquet Commercial Real Estate Services, we provide experienced third party commercial real estate management services. Kevin Tagle, Vice President of Meissner Jacquet, underlines that “our experience working with both private and institutional clients provides us with the ability to fully understand our clients and their properties needs on all levels.” Meissner Jacquet will assemble a property plan that outlines how best to manage your commercial property for optimal results, so that your time is spent focused on your core business and not fixing leaking toilets.

Sources:

UpCounsel Blog

Nolo.com

Meissner Jacquet Commercial Real Estate Services