Shannon Waltchack took over the management of a portfolio of eight office buildings consisting of approximately 275,000 square feet in the Birmingham area. From the outset of each new assignment we rebid all vendor contracts to both reduce operating costs and enhance vendor quality. Utilizing our existing 1.5 million square foot portfolio, we are able to achieve greater economies of scale than a stand-alone property. For the subject office portfolio we were able to save a tremendous amount of money and upgrade their level of service.
Approximately 9 months after taking on this assignment, we surveyed the Tenants to see how we were doing. All tenants rated our service and their satisfaction as either Good or Excellent. We achieved these results through our knowledgeable and experienced management and through the expertise of our service team with a combined 60+ years of experience in facilities management. Our services include building maintenance, vendor management, accounting and financial reporting, operating budgets, lease administration, condition assessments, and project and construction management.
In the first year we:
- Significantly reduced overall annual property expenses by 219% combined
- Saved 10% in property tax
- Gained leverage in negotiating vendor contracts
- Improved tenant response time with an integrated work order system